Quote:
Originally Posted by user_id
Yawn
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if you have nothing of value to add to a conversation, that was the best way to do it.....
we all know that the federal reserve, an international banking cartel, needs to be audited. fear seems to be overriding common sense in this country. there has been outright fraud, it needs to be exposed, and the guilty need to be punished. until this is done, our country cannot get back on track. YOU CAN'T FIX THE PROBLEM BY HIDING THE PROBLEM.
statistically, we cannot keep going down the path that we are currently going down anyway. as usual denninger made some good points today
We're screwed - they're screwed worse. Greece anyone? Oops - it's not just Greece, it's also Spain and Portugal, and now we're seeing failed bond auctions. Ka-Boom!
China will save us. Oh really? Why is it that China's government is talking about bailing out their own banks? What could possibly go wrong with average home prices in parts of China exceeding 80x average incomes?
We fixed nothing with all the screwing around. All we did is let the clowns steal more money. There has been no cleaning out of the fraudulent securities. Some have been transferred to your tax account - that is, you will be forced to pay for them in the future. But even more remain out there. Fannie/Freddie anyone? FHA defaults? CDOs, RMBS and others that continue to come under pressure and suffer downgrades? Second mortgages (HELOCs and similar) that are functionally if not mathematically worthless? Who's taken account of all these and written them off? Nobody. "Extend and pretend" only works until the cash flow dries up. Then you're doubly-screwed because the value of what you hold has declined further.
The economy is not improving. No jobs, no economy. We shipped all our good jobs overseas in the quest for $30 DVD players. We got 'em - but we lost the ability to employ people in other than asset-stripping jobs for more than $50,000 a year. We refused to address the currency and import/export imbalances and still are, despite all the jawboning.
We claim that auto sales are "strong" but in fact they're down huge from where they were through 2006. There's no "great" market there. We're doing what - 10.5 million units? That's a number last seen in the 1980s but we have how many more million people in the US today? Truth: Auto sales are off 40% or more from the last decade's numbers - not just the "hayday" of 2006.
those are just a few of the points and here is the link to the article:
http://market-ticker.denninger.net/a...This......html
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