Posted on 03/05/2009 11:38:53 AM PST by Rufus2007
“There will be no recovery until Obozo is out of office.”
There will be no recovery for a lot longer than that. We are looking at a potential financial Armageddon the likes of which no living person has ever seen. The Great Depression will look like nothing as compared to what we are facing. Read this article, but first make sure to have a bottle of either Maalox or your hard liquor of choice nearby: http://market-ticker.org/archives/852-Whats-Dead-Short-Answer-All-Of-It.html
Look, we have an incredible mortgage crisis - it is likely that some 10% of all mortgages may default: http://market-ticker.org/archives/851-The-Inescapable-Math-on-Mortgages.html That alone would be disasterous, a loss of $2-$3 trillion.
Tax revenues are already diving, and will tank much further as unemployment rises and not only their spending, but that of all others scared of losing their jobs or having a significant cut in income, will largely dry up except for necessities.
Pension funds and annuities will default; the FDIC won’t be able to cover losses; credit card defaults will rise dramatically; the government won’t be able to maintain most programs at anywhere near current levels, let alone at those that the Obamessiah and his fellow Socialists want. Imagine what will happen in our cities when large numbers are unemployed, and benefits are cut.
If/when the stock market crashes down to 30%-50% of its current level (whether all at once or in a long, slow bleed), ALL companies and ALL governments with significant portions of their defined benefit plan assets in the markets will be DEAD BROKE.
Government debt costs will ramp up, since Uncle will either have to pay a lot more for private investors and other nations to fund the huge deficits, or Bernanke will start pumping trillions into the economy and bonds will crash (causing yields to spike) to protect any investors from inflation.
Yeah, its a bunch of doom and gloom - but we are really screwed. Our only solace is that most of the rest of the world is far worse off, and will get gang raped and left on the side of the road for dead.
Just wondering??
ABB?
Hmm — I was looking for trends and a chart showed that number. I think I blew the year as well.
Yahoo is clearly easier to use — I show 13,627 on May 31, 2007 after a high of 13,718 that day.
May 2007 is when the fuhrer tossed his hat into the ring.
Thanks for the correction.
I don’t think he particularly cares about people who invest - he cares about the ones who wait for government handouts like the woman from ACORN who was on TV telling Stuart Varney that housing is a right.
Taking the money away from people who disagree with him could be seen as a beneficial end result for Obama and his ilk because it makes us more dependent.
“There will be no recovery until Obozo is out of office.”
This nonsense will go on as long as the American people allow it to. Atlas has Shrugged, John Gaunt has quietly moved into obscurity.
There are 2 types of people:
1. Those who do things
2. Those who talk about doing things
(subset of this are those who try to tell other people how to do things that they cannot do themselves- most of our politicians are this group.)
At some point the American people will say ENOUGH and this will stop.
Uh—when is it exactly do that you think he will be out of office? There is no viable opposition party to The Marxist Onada and the demrats in this country today.
How will he be unseated pray tell?
I do not think he will be taken out of office with an election.
But I do think he will be removed from office.
We said the same thing about Clinton....
While I agree that it's a different time.....Obama would leave with an election.
That I am fairly sure of.....
I doubt it.
Hillary at least wanted to make the country socialist like FRANCE and not like the USSR!
But you are treading the kookville border....
I know, I've walked there..............
If only the Zero would take this GYRATION as seriously as one of his tracking polls.
BBC gets wedged in there between ABC and CNN.
>>>There are 2 types of people:
>>1. Those who do things
>>2. Those who talk about doing things
You forgot:
3. Those who (like to) destroy things
4. Those who only know how to leech off others.
Sorry, but that is what my gut tells me.
No tinfoil hat.
Stand corrected, yours are appropriate additions.
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