Comments on: “Grossly Distorted Product” or “Christmas in July”

By: FrenchNail

FrenchNail — Sat, 31 Oct 2009 03:54:53 +0000

The real goal is to create a close to majority level block of people depending on the gov for their paycheck. Once that’s achieved the lock is in forever. The unions move in and the coffin is closed on American capitalism.

By: elaine

elaine — Sat, 31 Oct 2009 03:49:05 +0000

lark, you say we need deflation. What’s your answer to the millions of people who are on the hook for hundreds of thousands of dollars on their mortgages & all the investors who bought the securitized debt & Freddie/Fanny who guarantee those mortgages should they all just file bankruptcy? It’s not that simple. Who pays back the Chinese under your deflationary theory?

By: FrenchNail

FrenchNail — Sat, 31 Oct 2009 03:47:25 +0000

I have to vote in few days…. The parties have succeeded in offering me the choice between a crook and a thug. Same backers, same difference. The independant is a washy-washy liberal. No term limit in sight, no balanced budget commitment. Same coin, two sides.

Anyway since I read the article on Naked Short Sales (stock market short sales, not real estate market short sale) by Taibbi I realized we have turned the point of no return about 3 years ago. I highly recommend the read. It’s long and heavy but a MUST.

This administration got bought and paid for by the people who knew the point of no return had past and who knew they were facing ruin and prison if uncovered. They bought themselves freedom while flushing ours down the toilet.

I do not know what America will look at the end of the tunnel, but we are getting deeper and deeper in the dark. Who knew that already Q1 2008 looked like prosperity compared at Q3 2009? And yes Q4 2009 will be bad, and that will be nothing compared to Q1 2010.

By: elaine

elaine — Sat, 31 Oct 2009 03:38:59 +0000

Larry Kudlowe did a spot of the Cash for Clunkers tonight on CNBC & he had some statistician on who claimed every car costs the tax payers 24K. I honestly couldn’t follow the argument. Then Kudlowe says the stimulus that the Dems claim “created” or “saved” a million jobs actually cost $250,000 per job, that argument I followed. As for future generations paying for these bailouts: Geithner said on the CMBC town hall last month that he intends for our generation to pay off most of it.

By: elaine

elaine — Sat, 31 Oct 2009 03:28:00 +0000

They don’t call him Mr MBNA for nothing

By: leslie

leslie — Sat, 31 Oct 2009 01:23:55 +0000

Actually, Joe Biden is from Delaware. But he was as involved as they come in the credit card companies victories.

By: Tammy

Tammy — Fri, 30 Oct 2009 22:11:51 +0000

I just got a letter from a group called Americans for Prosperity. I know, it’s a conservative group, but listen to this:
The government now runs or owns 30% of the economy. If health care passes they will run 48%.

This is clearly a takeover of the free market system, and this is almost exactly what Chavez did in Venezuela.

If you aren’t frightened by this take over, then I don’t know WHAT will scare you.

By: HC123

HC123 — Fri, 30 Oct 2009 22:09:22 +0000

Its amazing how the O administration flagrantly cooks the books to get the headlines they want. Economy Fixed!

What is really amazing is that it works on people.

By: Lana

Lana — Fri, 30 Oct 2009 21:59:49 +0000

Apparently Edmunds.com has taken aim at the Cash for Clunkers program and the White House is attacking them on the White House blog. Edmunds saysm aybe the White House should not be shooting the messenger. Hmmm…shooting the messenger…WH attacks….where have I heard this before?

By: Tammy

Tammy — Fri, 30 Oct 2009 21:57:32 +0000

And just as I predicted: The stock market would take a nose dive at the end of October.

This artificial “boost” in the economy was almost ALL a result of “cash for clunkers”. This last quarter is the one that is going to be SCARY.

Buy gold or swiss francs. Your dollars will be worth less than toilet paper in another six months.

By: Onofre's arm

Onofre's arm — Fri, 30 Oct 2009 21:08:11 +0000

So, with Uncle Sam (Obama), it’s do as I say, not as I do.

By: Smart Blonde

Smart Blonde — Fri, 30 Oct 2009 20:56:17 +0000

Have you forgotten that Congress passed legislation to make it far more difficult for individuals to declare bankruptcy? And that the new laws say that, if we do let you declare bankruptcy, you still have to pay off
all your credit card balances! I believe Joe
Biden had a lot to do with that legislation, as he was one of the senators from Maryland, home of the credit card industry. We can’t
really blame O’bama — though he probably voted for it — because Bush* was president then.

By: Onofre's arm

Onofre's arm — Fri, 30 Oct 2009 20:53:24 +0000

DOH!

By: Carlaforhillary

Carlaforhillary — Fri, 30 Oct 2009 20:50:18 +0000

Thanks for the clear, concise post. This is fake recovery to make Obama look good to get support for his healthcare plan.

By: Katmoon

Katmoon — Fri, 30 Oct 2009 20:39:31 +0000

Rofl..ahaahhaaa its all in the placement of the cheese!