http://ftalphaville.ft.com/blog/2008/11/06/17903/fed-capitulates-the-central-bank-is-broken/
Some politicians think there is nothing wrong with the consumer except he is nervous, when confidence returns the consumer will be back as good as before.
This current environment is feeding upon itslef, and I dont know except time what will change any of that. WE got our first dose of cumeupins, and I dont think this is done just yet.
Hope is here with new PResident, he will be able to solve our problems, just by repositioning tax revenue?
Obama might end up as one term President, for what he has inherited, no one would want.
D
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6 comments:
D -
"Some politicians think there is nothing wrong with the consumer except he is nervous, when confidence returns the consumer will be back as good as before."
The consumer was 70% of GDP. Consumption based on debt is NOT returning. 40% of citizens pay NO TAX and that figure has been and will continue to increase dramatically going forward. After all, why work when the government will take care of you? Why produce when all you get for your work is increased taxes? Democratic societies FAIL when the electorate concludes that all they need to do for everyone to get handouts is to vote in someone who says they will deliver that. Then, when economies collapse and citizens rebel, you get fascism, to thunderous applause. Are we almost there?
"Hope is here with new PResident, he will be able to solve our problems, just by repositioning tax revenue?"
I've heard the word "hope" more in the last week than I've heard it in the last 20 years. As as astute investor yourself, I'm sure you know the saying that "hope is not a successful strategy".
jbr
I'M "HOPEFUL" my business survives this jbr, above Noland snippets and link should be weekly read, it gives the down and dirty details and it shows NO progress I can see in oiling the rusty wheels of lending.
HOPE is a wonderful thing....until it is dashed...
D
D -
My best wishes to you, your family, and your business during this difficult time.
Please understand my cynicism is exactly because innocent people like you (and me) have been caught up in problems created by so many others. We mind our own business, lead decent lives, do the right thing (don't live beyond our means, don't commit fraud, etc). Sadly this is a SOCIETAL failure. So many people played a part, from members of our legislature, to regulators, bankers, mortgage brokers, real estate agents, home buyers, etc. What we are witnessing is a flaw in human nature: greed, suspension of reality, and in many cases outright dishonesty. We now have people who can afford to keep their homes turning in their keys when their houses are underwater BECAUSE THEY CAN (due to recourse loans). "It's just a business decision". That's after many of them did a cash out REFI and bought a Mercedes! RIGHT, just a business decision, but one that sinks us all and makes EVERYONE pay for other peoples judgment errors or speculation or fraud (ie, Liar Loans).
Stay positive, D, in the end the decent people like you will prevail.
jbr
oops - meant "non-recourse" loans
jbr
Obama has little do with any thing worth while he is a baby boomer and they no very little as to how to run things.
Heres a link for your education
http://www.generationaldynamics.com/cgi-bin/D.PL?d=ww2010.i.basics
Many think he will be a one term President, he is coming into Gov with wild ees and made a lot of promises of which I don't think he can keep. The country is basically bankrupt, but the economy IS still functioning....doing business but NOT at the levels that support all those wanting to hold a job.
Prices keep falling in housing sector with sales falling faster....until this finds a bottom, will be difficult for stock market to do so.
And with less people working simply less people will be spending, there is no way to support current SPX earnings projections, hence has the market discounted what is to come?
I'll talk about anything and do,my main goal has been to educate, offer my opinion and articles worth reading,some technical analysis and I have hoped I may have saved even ONE PERSON from financial stress, I've done OK
There is no doubt I've been right and VERY timely on what I bring to my website....I have 4 years of posts here anyone can examine....I do it because I enjoy it.....no one makes me or pays me to run this blog....
Persoanlly I think its fantastic a Black man made it to PResident, I see only A MAN...but sure he's black...he IS very intelligent...but he does not represent all of my ideals.
SACRIFICES are going to have to be made....NO QUESTION ABOUT IT....how to get out of this mess?
BUSH will go down as WORST PRESIDENT since JImmy Peanut Carter..sub human below avg intelligentce put up as Pres to be a puppet for the likes of Chenney and friends....I dont like politicians in general.
Ron Paul failed his leagions by not even registering in most states so a vote for him would count.
AMEX NEEDS FED FUNDS.....default rates rise on credit cardsas most try to hold onto their lifestyles....as MORE and MORE companies REACT to slowdown by CUTTING JOBS and CAPEX SPENDING....it ends when it ends...
Thanks for posting, if you leave a name of some kind instead of just annonymous then I know who I am responding to (by choosing NAME/URL)
D
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