Posted on 05/05/2009 2:58:06 PM PDT by Grim
We’ve just seen the biggest bogus stock market rally in our lifetime, built on the most blatant pack of lies we’ve ever heard:
Wall Street and Washington say the financial crisis is behind us. But the International Monetary Fund (IMF) has just trashed that theory faster than a high-speed paper shredder.
They say big banks can’t fail. But behind the headlines, key Fed officials are now admitting that the “too big to fail” doctrine is, itself, failing.
(Excerpt) Read more at jrdeputyaccountant.com ...
I wouldn’t say “cool”, but I have been saying it’s going to be interesting to watch.
The economy seems to be recovering without any Obama policies happening first. I agree the Obamanomics will be bad for us, but the sheeple will think Obama caused the recovery.
It’s like the fact that after socialized healthcare things will still be alright for a while, and when reality hits the fan it will be very hard to back out.
The worst (re: the financial crisis) may be over, but we are seeing a bear market rally. Unemployment is predicted to remain high. If anything serious affects the world economy (e.g., Iran blocking the Straits of Hormuz) expect to see the Dow hit 5000 in 3-4 days.
Obama will be happy with very little (or no) growth until he can get the 2010 elections behind him. Everything will be blamed on GWB.
Then the big tax hikes will occur about when hyperinflation is expected to hit. It’s Jimmy Carter all over again. That’s about the time when a few MSM folks start looking more closely at The One.
I’d like to be positive in that the few who did this cannot hurt or destroy the majority of hard working Americans.
I’d like to think we have fixed or fixing it.
The “FAILURE OF FAILURE” depends on who is measuring it. If the country tanks totally, Obama will be happy — control over the weak ashes of America is his goal. He fools no one.
But that is valid, only if his synthetic ratings hold up and the people remain as stupid is as stupid does. If they finally wake up to his hybrid of Marxism and Chicago thuggery, then he is in real trouble. If his rating fall significantly, and how can they not, his attempt at collapsing and modifying the USA into a Marxist excrement pile will have failed. America will insist on the restoration of government LEADERSHIP, ACCOUNTABILITY, CONSERVATIVE VALUES AND PATRIOTISM that will restore our ECONOMY and our CONSTITUTIONAL REPUBLIC back to a position of world leadership.
These are tenuous times — time will tell.
[Don’t you hope our economy completely craters like in the 1930’s. That would be too cool. ]
It would be cool if it cured people of their socialistic tendencies, but that requires all the blame to fall on Obama. Quite a painful taste of the dog that bit ya.
Stand by to be RAMMED !
The big question is what is the hedge for the common holder of a 401k.
If Bonds and Equities are going to tank again, and the dollar is going to fall while other curriencies aren’t doing a lot better, and inflation is setting in, it seems that transfering out of Bonds, T-Bills and Equities would be smart.
Sure, some percentage in precious metals would be sensible, but few 401k plans list Gold-by-the-ounce as an option for say 30% of you fund. What is the general opinion on this?
It's not.
The economy seems to be recovering
It's not.
The big question is what is the hedge for the common holder of a 401k.
Dunno. Box of gold coins? Bag of diamonds? Buy a taco truck?
FURTHER READING
You are not just an idiot, but a sadistic one.
The kicker to this is that giving a normal time line for the home market to return to near normal, the die off of the baby boomers will start. Giving that I would guesstimate about 50 years. depending on whether Iran decides to bomb someone.
But you should remain optimistic.
This is ultimately a choice between immigration, and destroying those houses. They will not stay in livable condition long enough for them to be sold if we just wait for housing prices to recover.
Then there is all of those available and started developments. If they had left it along supply and demand would fix it to a degree sooner. They will be rented and the rental market will be destroyed as well!!! You will have the same results.
Disagree with the first (see chart below) but agree with the second. This mess is gonna go on a lot longer than many suspect. The next two years look really nasty as the adjustables reset - lots worse then as more people will be unemployed and unable to make the regular mtg payment, let alone the reset.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.