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I would love to see the bankster and corporatist scum on wall street homeless and begging.
Me too. But everyone must be aware that the babybommers are starting to retire and an awful lot of money will be moving out of the markets into more less rick areas. Deflation is already starting to show up check real estate around world. Brazil has started raising tariffs. World wide job growth is stopping. Deflation will feed on itself as more layoffs occur and less people will have income.
Actually, I get a kick out of hearing people talk about a double dip recession when it is obvious that we are still in the first one. However, Obama did declare the first one over, didn't he?
To me, things seem worse than 2 years ago. In the spring of 2009 I had no qualms about buying a 52" TV with BD player, a high-end laptop and some other toys. Today I cringe at paying $25 for a stack of Sony DVD's, and think twice about going out to eat even when I have a BOGO coupon for my favorite restaurant.
Back then I assumed we would bounce back quickly. The possibility of people being unemployed for one year seemed remote, much less 2 or 3.
The interesting thing is that I've found that I can live comfortably on far less than I thought I needed. Except for health insurance of course - the skyrocketing premiums since obamacare passed are killing me...
It's my understanding that a large portion of the increase in health care premiums is due to fewer people paying into the pool. My insurer's number of customers dropped so everyone else had to pay more to pick up the slack.
I've worked for only 4 months in the last 14. I don't consider the recession over and most people feel the same way. I believe the current panic is mostly Europe-induced but there's no good news anywhere around.
The biggest issue which you are all missing is world wide deflation. 144trill. or more disappeared from the worlds economy's when the cds market collapsed in 2008 (Lehmon and Bear sterns). There have already been countrys defalting (Iceland). This entire mess has been brought on by a Repub. congress and a Dem Pres. with the deregulating of the banking system in 1998 (Grame-Rudman). This week coming I hope you have all taken your 401K's out of stocks and moved into less rick area's. If you are in late 40's -65 this is very important week for your retirement income. Watch as all State and Local pension funds state they will be unable to meet there needs. Watch as private pensions start becoming smaller. Note how low the comodities have started to fall. When this starts watch out it could get ugly
Woah woah, don't you dare bring economic sense into this forum! If it's not obama's fault then it isn't true.
Just love it when nit wits start blameing the other party for this mess, when all politicians keep spending trillions of more dollars than they bring in. Why is simple math so hard to figure out.
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