Sunday, December 20, 2009

THE BIG LIE

40% of all people looking for work have been out of a job for more than 6 months, some kind of record.

The BIG LIE is that we have recovery, that jobs are being created, that banks are not insolvent, that the gov and FED plans are working. They are only working for WALL STREET FAT CATS.

A job gives someone purpose and dignity, that has been stripped away from millions. Suffering from a decade of overspending, not saving and rampant speculation and debt creation the time to repair is now, but plans in motion want to deny the past and slow the healing of tomorrow.

Millions have been wasted, or not accounted for, and time ticks away as the core of the American economy rots from the inside.

It was OK for all those manufacturing jobs to be shipped away to China, all those $'s fleeing the US to ASIA but in return we help CHina pollute their country, enslave millions to $'s a day factory work making the shoes and furniture and soccer balls we buy here at such bargain prices....and the price was a buying binge of the decade at cost of lost jobs today.

The problem is friends, when a town like Willimgton Ohio which was featured on 60 minutes loses 10,000 jobs as a factory shuts down, it can't rebuild them and peoples lives are destroyed.

But we do get a health care plan? being sold as a saviour for millions, will not add to deficits and has done what 7 Presidents couldn;t do, reform healthcare...and I guess that is why HEALTH CARE STOCKS are at 52 WEEK HIGHS> and this occurring when the sellout Democrats too public option off table and we will be told this is a victory.

Like the victory over credit card companies? who were given 9 months before any changes and that was time enough to DROP many, and raise rates on the rest......making any changes to legislation meaningless.

Most items at Kohl's to pay were 50% off and we got another 30% off when using the Kohl's card.

later I went to a Sears store and found it near empty of customers at 2 PM the Sunday before Xmas.

2010-2011 will bring us more pain IMHO as a HUGE wave of ALT A and interest rate adjustable mortgages hit the fan....maybe not what SUB PRIME was but bad enough, we are not counting the Commercial Real Estate situation.

My OWN business at risk, I cannot get a small business loan, you can only get a loan when your business is doing well, not when you're not, what retail is kicking ass here? I am not alone.

The home buyer has disappeared, and everyone else is holding back unsure of future afraid to expand.

I have seen little or NO improvement in current situation and have NO visibility.....I wish I was a Wall Street insider getting record bonuses for TRADING STOCKS and not lending.

I wish I could hide losses by not marking my values to current market values.

And all of a sudden the Asian dynamos do not depend on the US market? sure they don't...why the country is exploding with growth because?????

They have been busy using our $'s we threw away, at expense of jobs here and buying the worlds natural resources and building their military, all that must be good?

What is the avg Americans opinion of our politicians? tar and feather them?

We lost our way somehow, the founding fathers wisdom long gone, and we surge our troops into Afghanistan an unwinnable situation as it has been for centuries, showing you we have learned absolutely nothing.

We have learned how to blow bubbles, put irresponsable people in positions of power, turn our heads when trouble is staring elected officials in the face and allow the fleecing of America by the big banks who have transferred their mistakes and losses onto the American people's balance sheet.

We are headed for $100 Trillion of unfunded liabilities and 10% of GDP deficits...and growing.....how sad it all is....and you wonder why we are in a SECULAR BEAR MKT?

D

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