PROBLEMS WITH ECONOMY, PROBLEMS WITH THE FIX

First news

NEW YORK – The percentage of auto loans past due 60 days or more rose 8.9 percent in the fourth quarter of 2008, compared with the prior-year period, according to credit reporting agency TransUnion. And the numbers point to auto delinquencies shooting to their highest point in a decade by the end of the year.
The rate rose to 0.86 percent for the three months ended Dec. 31, compared with 0.79 percent in the 2007 fourth quarter.
Auto-loan delinquencies tend to be cyclical, with the fourth quarter typically showing the fewest problematic payments. But the recession appears to be changing those patterns.

Folks, the porblems are going DEEPER than any Recession I can remember, than most of us can remember.

GOV has added $199B this year and $399B next year (election yr !) to help revive economy, when $TRILLIONS have been destroyed this is like pissing in the wind.....or severing an arm and sticking a bandaide on where it used to be.

Forcing banks to loan? HELOOOOOOOOOOOOOOOOOOO....banks lent to unfit borrowers and aided our demise, some forced by democrats wanting fairness in lending to minorities most of whom are now defaulting.

Banks are trying to TOUGHEN lending standards so money going OUT will COME BACK, nothing is going to change that. Secondary market for these loans (most maybe good now?) has been desestroyed.....it will take TIME to regain trust.

Consumers HAVE CUT BACK SPENDING, BUSINESSES HAVE CUT BACK SPENDING.

There has been NO LETUP in the data showing us a BOTTOM in employment or housing valuations, or delinquencies...will changing way Banks have to value these TOXIC ASSETS change anything? WILL FORCING SHORTS to wait for UPTICK change anything?

What anything is worth is what anyone WILL pay you for it at that moment in time, not tomorrow, not yesterday.

Putting (tax cut stim?) $7 a frickin week in your paycheck going to turn this around?

ADDING 8,500 GOV earmarks to spending bill going help? show Gov restraint?

WHY is PRES OBAMA going on David Letterman show? WTF is that?

Bernanke on 60 minutes must see TV? mkt sold off Monday but surely didnt RALLY hearing the bald guy say MAYBE end of 2009 we get recovery....IM so excited!

$8,000 check in your hand 1st time home buyer....thing is many get the check didnt know about it when they bought.....one in townhouse development, bought one of 3 unsold homes, got $70K hair cut too...but didnt that just lower everyone elses mkt value?

IMHO TOO MANY (LOTS OF EX BEARS TOO) CALLING THE BOTTOM......

EMployment picture #1 area I need to see bottom out and begin to heal and improve....more people working, more people spending, saving, putting into IRA's instead of asking to pull money OUT (hardship which forces Mutual Fund selling to raise cash), more people confident to BUY homes. buy furniture and appliances, do landscaping, buy new car....there's your trickle up or down.

NEW WAVE OF LAYOFFS COMING if current rate of business and consumer spending isnt lifted and soon.

We don't make much anymore, we are Service economy, we have 75% consumer led economy........and they ain't doin' so good.... SO NO....I do not believe we have seen bottom in economy nor in the stock market, do as you must and see fit.....but this is one bear that doesn't like what he sees rally or not. And has NO confidence in those supposed to help heal it.

The AIG situation is just as disgusting as Bernie Madoff....how can anyone have confidence in Gov when they know what has or hasnt been done with $100's of $Billions of tax dollars?

Duratek