
The market and the economy are still on this up and down ride. So are we to believe that this problem is really so simple that an economic stimulus plan or Fed Chair decision can really stem the fears and resolve this problem. The president says the Senate should not tamper with the Bill which was agreed upon by him and the House leaders. The Senate says the house left out to much of the underprivileged, so they must renegotiate certain portions of the legislation. Now we must sit back and wait to see how the floor fight turns out.
The real problem is the insurers and under writers. Many defaulted loans are going uncollected due to the lack of insurance payouts. If you default on a car loan, the financiers are not like to try and repossess the vehicle due to the fact they can no longer due a short sale, or auction and recover the difference from insurance. There are all kinds of government aid programs becoming available to help and get missed or behind mortgage payments moved to the end of loans. Some financiers are even offering plans that would make it seem as though you are current in your payments and just have to pick up making payments as though you have never missed any.
The reason this economy is going to continue down the path of non assurance is directly due to the way this system has been setup for those on top to recoup all losses from insurers. Now we all get to understand that there was no brilliance to the way the executives has been running these companies just the structure of a system soon to fail. Stay cognizant and aware of the direction the legislators, the president, and the Fed decides to be more prudent than expedient.
Is this country so hell bent on the Hatred of the
I am really disappointed with leaders like Mr. Clyburn because I came from the days and times when you had to fight your way through school. When you had to get yesterday pastry and donuts if you wanted to make a purchase at the local Bakery. When you had city slick politicians come through striking the preacher like tone in all their speeches while being backed the whites always being chosen as our representatives. When the
I know this is all about getting rid of the
I am a product of the South that lived through racism and to put it plain and simple I am really and truly disgusted and highly pissed at this new reverse racist tactics to further set back the gains of civil rights. While this might work to get rid of Hillary chances to become president and better this country it will not serve to elect a black president.
Economic Deception
Financial and Economic Gaming
The Fed Chairman Mr. Benjamin Barnanke cut the rate a quarter point. Most in the economic news world had been forecasting exactly that. Claiming another cut was needed to keep the economy growing at a steady pace. Once the fed chair reported the actual rate cut, the news changed. Economist started to speculate that Mr. Bernanke must be envisioning a looming economic recession. With high gas prices there has to be price increases coming across the board. The stock market had major losses the next day due to the escalating housing problem and increased oil price gains.
I’m not an economist but recent trends would lend to the thought of gaming the system. The GDP number and Job Gains number came in better than expected. Now the news showing are starting to tote this higher than expected growth and a strong vibrant economy. While others are reporting consumer spending to be slowing due to the looming high heating cost. Goods and services prices are on a rise, while the housing foreclosure problem is constantly reportedly getting worse.
There is also reported to be skepticism in Wall Street investors.
Months ago the stock market was in need of a boost to help stop it’s down trend. The fed came to the rescue with a half point cut. The stock market began to once again see daily gains. For many weeks the market constantly reached new record highs. Even when the housing crunch was first reported the market stayed strong. Lenders began to have major problems, but with the economy being so strong and resilient, the market continued to make record gains. The president reported better than expected growth. The growth was so great that the deficit would come in with a lower than expected number.
With all the great news, Wall Street investors should not be skeptics. There should be no looming recession. More rate cuts should not become a necessity. Mr. Bush is giving speeches on how his economic policy has worked to build the strongest economy in 20 years. Growth is much better than the
Well here’s where I see the structure being set to game the system. The real deficit will be higher than expected due to rising oil prices. The economic growth numbers will fall along with the job gains revision. Let’s be real with large companies like Chrysler reporting it has to cut more jobs than expected and other large companies still in negotiations how can there be reported job gains. This great strong growing economy is just a figment of the build George Bush legacy imagination.
Creating $10 dollar an hour jobs to replace $30 an hour jobs does not make for a strong economy or a comfortable means of living. This economy was built on a false premise due to predatory lending, lower interest rates, and cash out refinances. Getting equity out of your home became easy as getting a $500 limit credit card. Consumer buying will soon be at its lowest level in years. The rise in foreclosure is real. People are searching to find ways and means to save their homes. Appraisers did a lot of injustice to society by inflating home prices. A lot of people are facing a disastrous life due to cash out refinancing and home equity loans. There are people stuck with $500,000 mortgages on $350,000 homes. Selling is not an option and refinancing to get cash or equity out is no longer available. Wall Street will survive because there will more rate cuts regardless of what the chairman stated. True numbers on job growth and unemployment will come to light. The administration will be asking for a debt ceiling increase to fund an unnecessary war and budget shortfalls. We the American people will be left on the sideline searching for ways to make ends meet to sustain our lives, while Wall Street and the Government survive by Gaming the system
Why We Should Expect a Recession
The stock market has been on a rollercoaster ride lately, closing at 360.9 down in today’s session. General Motors loss a business record $38.9 billion in the third quarter. Crude oil reached a record high moving past $98 before closing lower.
Time Warner Profits drops 54 percent. The housing sub prime borrowing is reported to be worst than expected. You will probably think I’m crazy when I tell you none of the above will be the cause of the recession. Wall Street analyst will not tell you this because it probably has not occurred to them. The brokers, traders, and advisers, probably overlooked this little fact I’m about to unveil unto.
Why is it so hard for people to realize the parallel of the George Bush Barack Obama City Slick Political campaigning? The last 2 presidential elections and the last 4 congressional elections have seen the republicans use consultant tested catch phrases to trick people into reelecting them to the presidency and majority in congress, to the detriment of our country. I’m a 49 yr old black man born and raised in a small town in
Senator Obama professes to need a new youth movement and generation of new participants in political election to exact the change we so desperately need in
Words matter to inspire people as he said, but action is needed now not inspiration. Hillary Clinton has been speaking to all issues and is very aware of the correlation of certain policy as it pertains to these issues. The media and outside influence should not dictate to any party which candidate should be their leader. I know and most well thinking people realize the mixed coalition that gave Mr. Obama the victory in