bfl
Does anyone really believe what the Federal Reserve says?
Does anyone believe what the Washington Post says?
I highly doubt it
Welcome to the Obama Economy. In it, anyone taking these type of loans is a fool. And anyone taking an ARM for more than a year is sitting on a powder keg.
Consumers are up to their eyeballs in credit card debt and are trying to pay off the bills run up during Obama’s never-ending recession. Many have unemployed sons and daughters living back at home, some with children. It will only get worse next year, when ObamaCare robs the Middle Class of what little savings they have.
This is the real world outside the enclaves of the wealthy and government workers with cushy salaries and benefits.
When socialists rule, people hold on to what they have. We can’t spend money that we may need to survive on later.
File under Insult-to-Injury.
The national debt is a quarter of that and growing every day. We don’t have to spend it. Washington is already doing it for us.
Americans need to re-industrialize our own nation.
Now.
We do not have a great deal of time. Forget about Obama. Think of global geo-politics.
Everyone on the world is increasing in productivity, and all the armies in the world are becoming more formidable.
Except America’s. Our industry is being off-shored, and our industry is being sold. Has been now for nearly 30 years.
One after another. Sold. Millions upon millions of formerly productive Americans, now unemployed and on government support.
Forget about Obama. Stop selling off American factories, and start bringing home American jobs once again.
Now.
Yes. Record wealth Weimar Republic style. Just wait until gasoline hits $9.00 per gallon like that idiot Steven Chu wanted. Then we will really be wealthy!
And what's going to happen when Bernanke quits pumping a trillion dollars a year of Fed money into the stock market?
$70 trillion isn’t what it use to be
literally
in ‘bush dollars’, that’s about $35 trillion
“By all rights, this symbolic crossing ought to improve confidence, prompt consumers to spend more freely and increase the economy’s growth. Maybe it will. But don’t hold your breath.”
Why would it prompt people to do anything but sew gold into their mattresses, with a Che Guevara want-to-be in the White Hut?
With the EPA and the IRS attacking productivity, why would anybody have confidence in their future earning power?
OBTW, as someone in the midst of moving, we have way more stuff than we need!
Pick a room in your house and make a trash pile and a charity pile.
Do this once a month and you’ll be surprised.
Don’t wait for a move.
Its mostly paper wealth due to overvalued stocks
What are you going to buy? Real estate that has a better than 50-50 shot of declining in value? Crappy eco cars that have been designed by green czars in the Obama Administration? Moochelle-approved Healthy For You foods? Hyper-queer clothing from the overstock sale at JC Penney?
I’m spending my wealth as fast as I can. The problem is that the shelves that are supposed to hold ammo and guns are nearly empty, so it’s hard to spend on what we need under the current regime.
The media (as an arm of the government and business) does everything it can to promote debt based consumerism.
Maybe some portion of Americans are waking up to the fact that there is more to life than endlessly buying stuff.
It’s really simple....the stock market is not real. It is merely a reflection of the QE policy / printing money policy. It will most likely collapse by up to 30% in the next year or so. Housing is NOT recovering and banks are dragging their feet on issuing new mortgages to people who are AAA credit worthy. PEOPLE HAVE NO CONFIDENCE IN THE FUTURE UNDER OBAMA AND HIS COMMIE POLICIES. AMERICA IS HEADING TOWARDS FINANCIAL COLLAPSE. Simple as that. Only when America becomes fiscally responsible, eliminates the socialist programs and creates jobs by getting us back on track will we stand a chance of resuming America greatness. Otherwise we are DETROIT on a national level.