Posted on 08/17/2009 11:55:13 AM PDT by Steelfish
“The Federal Reserve itself claimed the economy is leveling out. “
Yes, before the next leg down.
The only people celebrating a “recovery” were the Obama administration and we all know how they tend to “mis-speak”
Fantasy. The idea that we are gonna recover as of now needs to be added to the junkyard with the perfectly good clunkers.
Jobs & Debt. America hasn’t been stellar in producing private sector jobs this decade.
The worse is yet to come.
I have seen speculation that the runup in stock prices has been fueled primarily by the investment banks with money from the TARP. If that’s true and small investors entered the market with the expectation this was a true rally instead of a govt funded bubble they’re in for a real surprise.
EXACTLY as predicted as far back as last winter....
A slight increase in economic activity, that the media would try and trumpet for the glory of Obama, even when every indicator says otherwise, followed by a SHARP fall off in late-September, early October. There is NOTHING holding up our economy at this point except GOVERNMENT SPENDING.
We aren’t anywhere NEAR the bottom of thing. It’s going to get worse, before it gets a WHOLE HELLUVA LOT WORSE!
“”The market has gotten way ahead of the reality on the ground, “
Ya think!
I don’t understand what’s kept the market afloat. Socialism is bad ju ju for free markets to prosper. I expect things to get worse if we don’t turn this out of control federal spending around. It’s not enough to stop health care, bailouts and such. We actually must start SHRINKING the size and scope of the federal government. We’ve already taken on enough to sink this ship, any more just assures it will sink faster.
>What happened to all the optimism?
The Federal Reserve itself claimed the economy is leveling out.
Something like getting smacked in the face with a cold wet reality fish called record unemployment claims, lousy jobs data, and poor retail sales...
“America hasnt been stellar in producing private sector jobs this decade.”
Actually for a lot longer than that.
The lesson here is that EVERYTHING comes from just two sources of wealth creation, manufacturing or mining, BOTH of which the Democrats have spent 3 decades trying to destroy in the name of the planet.
If you want an example of how Democrat feel-good legislation can kill jobs, look no further than the American lightbulb industry, with 35,000+ mostly union jobs lost since the bill passed that bans incandescent light bulbs...
>if small investors entered the market with the expectation this was a true rally instead of a govt funded bubble theyre in for a real surprise...
Maybe not - they can sell and take profit from their buys at their low points.
Small investors, usually 401K or IRA account holders, tend to get in on the rally late and hang on too long. Perfect pigeons for something like this.
Agreed...the fundamentals for a sound recover for the economy do not exist at this time.
Indeed their attempted intervention may actually be further harming the economy.
“The lesson here is that EVERYTHING comes from just two sources of wealth creation, manufacturing or mining, BOTH of which the Democrats have spent 3 decades trying to destroy in the name of the planet.”
100% correct!!
I especially love the wealth creating “Cash for Clunkers” program. Creating wealth by smashing things! Hell lets just smash all cars that are over a year old and not of green nature. We’ll be rich!!
These people are truly nuts! Anyone that follows them is even more nuts.
Read same thing. But I hope the banks made some money, at least, and can use it to pay back some of the TARP!
Good point - I would never stash equities in such places in this economy...
"I'm not surprised."
It’s not just the spending but how it’s being spent. FDR built dams. Eisenhower built the interstate highway. Obama fixes potholes.
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