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Yup.
And in fact Obama's LOWEST approval rating is the best "low point" approval rating of ANY President in the last half century (ie since JFK) - so clearly Fleet doesn't speak for the American People (as if we didn't already know that).
it was the spike in gas prices that caused the collapse of the economy. and the gas price spike was caused by manipulation in the oil commodities markets.
To state that the economy collapsed because of the spike in gas prices during the summer of 2008, you then have to explain how gas prices reached similar levels to the 2008 high in recent years, and yet our economy continued to grow.
Our economy collapsed in 2008 when the housing market collapsed, which was followed by massive layoffs, massive foreclosures, banks and mortgage companies going out of business.
One point that almost all informed observers agree on is that the financial crisis started in the housing market and that the crash in housing prices caused a more-general banking and financial crisis.
Let us be real here and understand what is good for Wall Street is not always good for the working man. Yes, I am glad my 401K is up. I cannot find any reason to believe anything done in Washington is the reason for it. Would someone tell me what specific Obama policies has led to the stock market rise.
I can tell you what Obama did to get the market to rise. He let Bernanke keep doing what he is doing.
15,000 doesnt mean that much when the dollars are funny money. The Fed is doing what the Weimar govenrment did in the 1920s. It is making our external debt worth less and less in comparable worth terms. Chinese industry made our trade deficit permanent. Now the Fed is daring them to start raising the price of what they sell. So far, the Chinese is treating dollars like beer in a no limit chug session. Meanwhile, the rich are watching their nomimal wealth go up, but in dollars that are worth a fraction of what they were worth when that wealth was stol....oops, I meant to say accumulated. Almost slipped and said what I believed. Must be more careful.
I've done what I can to understand how this economy works and in relation to the global economy as a whole, and try to include as many factors as I can.
I'm no financial science or econ major, but I get it - for the most part. However, it's becomming increasingly clear that not only is this entire game rigged, but the basic, principled laws of mathematics do not apply in our system, for a number of reasons.
So, I quit. I will continue to plan for armageddon, but continue to live day-to-day life as is our best days are ahead. It's frustrating as hell that our financial futures are put into the hands of bankers who create the most outlandish algorithms to create wealth, which seemingly comes from nowhere, but the days of fixing or changing the system were left behind in the 30's, with the new federal reserve system.
My dinner wil taste just as good tonight as it did last night, but if something happens, I've planned ahead.
Get back to us when you ever have a record or actually being RIGHT about something.
Ken
Well Ken-
Gotta hand it to you. I sold out of this rally at Dow 10,500 and was wrong about the "legs" this market has shown. I put my money into more ag investments, which have done pretty well, but I really thought that the market would run out of steam before this. You, as a bull, were right.
No man can predict the future. But when you are wrong, say so.
Along those lines, no one knows how much further this market can go. I, for one, am just not very comfortable with the rise of the market, when it is not supported by similar rises in the GDP and when we have the Fed pumping money into the economy. Who knows- it could go on much further.
To state that the economy collapsed because of the spike in gas prices during the summer of 2008, you then have to explain how gas prices reached similar levels to the 2008 high in recent years, and yet our economy continued to grow.
Our economy collapsed in 2008 when the housing market collapsed, which was followed by massive layoffs, massive foreclosures, banks and mortgage companies going out of business.
Because it wasn't gas prices. It was oil prices that triggered the shockwave that collapsed the markets.
High oil prices during the Summer of 2008 contributed to the panic, but it was the housing market bubble bursting, and the failure of Bear Sterns followed by Lehman Brothers followed by more and more bank failures which caused the stock market to collapse in the Fall of 2008.
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