Show-me
Well-known member
I believe the government intervention into every aspect of this crisis is going to prolong the bottoming cycle because of the artificial money supply. The chickens will come home to roost, Alt-A's, ARM's, commercial property defaults, credit card defaults, and the $55 trillion in CDS floating around.
We have two credit card companies that became bank holding co. last month so they can get bailout money. Do they need it or do they just want it?
Consumers are wising up a bit and starting to save. Consumer credit posted it's largest decline since the 1940's when they started keeping data, so it is not all the consumers doing as there is no credit.
BLS unemployment numbers are not real and that is finally coming out in the press. Three State's had their unemployment systems crash due to volume.
Retailers will close, it has started, and that means big layoffs.
Service sector accounts for 70% of GDP and in the private sector service sector jobs account for 85% of employment. In other word we don't make squat in this country.
Washington is throwing money at the problem to help out the big boyz and so that the public can not say that they sat back and did nothing. I is easier to say we tried than we did nothing.
In other words sell any rally.
We have two credit card companies that became bank holding co. last month so they can get bailout money. Do they need it or do they just want it?
Consumers are wising up a bit and starting to save. Consumer credit posted it's largest decline since the 1940's when they started keeping data, so it is not all the consumers doing as there is no credit.
BLS unemployment numbers are not real and that is finally coming out in the press. Three State's had their unemployment systems crash due to volume.
Retailers will close, it has started, and that means big layoffs.
Service sector accounts for 70% of GDP and in the private sector service sector jobs account for 85% of employment. In other word we don't make squat in this country.
Washington is throwing money at the problem to help out the big boyz and so that the public can not say that they sat back and did nothing. I is easier to say we tried than we did nothing.
In other words sell any rally.
I know how a major health problem can really weigh on your mind. I had a 5x bypass 5 years ago and still going strong. I'll be thinking good thoughts for ya.
