Presidential Kow Tow
- Thread starter Phil96
- Start date
So the market upswing has nothing to do with the past administration, yet the unemployment numbers have everything to do with them? How convenient.
Also, when the Fed conjurs up $12 trillion and pumps it mostly into the financial market, you are going to get good numbers.....for now. Equity bubble? What's that? ???
Tell me, if you take a $1000.00 cash advance from your credit card, are you now $1000.00 richer?
Also, when the Fed conjurs up $12 trillion and pumps it mostly into the financial market, you are going to get good numbers.....for now. Equity bubble? What's that? ???
Tell me, if you take a $1000.00 cash advance from your credit card, are you now $1000.00 richer?
You are right, foreign cultures are not the only thing Mr. Obama doesn't understand. He apparently doesn't understand how to get America back to work? The stimulus package which now has been recognized as "Obama's Slush Fund"? WTF?
For those of you who have lost your job with no signs of employment in the near future?????????????? How is that "Hope and Change" working for you?
I don't belong to either party and actually voted for Obama thinking he would hopefully live up to his rhetoric. Like so many others in this country, I'm suffering from buyers remorse!
lease:I just can't agree with the statement that many people are thriving right now. I have friends from all ends of the spectrum and am not seeing really any of them thriving. Unless your name ends in Goldman or Sachs, its just not happening....
You are right, foreign cultures are not the only thing Mr. Obama doesn't understand. He apparently doesn't understand how to get America back to work? The stimulus package which now has been recognized as "Obama's Slush Fund"? WTF?
For those of you who have lost your job with no signs of employment in the near future?????????????? How is that "Hope and Change" working for you?
I don't belong to either party and actually voted for Obama thinking he would hopefully live up to his rhetoric. Like so many others in this country, I'm suffering from buyers remorse!
haha I have to agree with you... I kinda want my vote back
another reason i want my vote back (and the main reason i voted for him) BBC News : Obama admits delay on Guantanamo
Old joke... What's the difference between a recession and a depression?
When your neighbor loses his job it's a recession...
When you lose your job it's a depression...
10+% unemployment doesn't bode well for the country. 12 trillion in debt and counting. Tanking dollar...
My optimism about the economy is not nearly as high as some on this thread...
When your neighbor loses his job it's a recession...
When you lose your job it's a depression...
10+% unemployment doesn't bode well for the country. 12 trillion in debt and counting. Tanking dollar...
My optimism about the economy is not nearly as high as some on this thread...
I never wrote that the market upswing has anything to do with any administration. I wrote that it has occurred...despite all the gloom and doom spread by the naysayers of the present administration.
I also didn't write that many people are thriving right now. I wrote "many who have saved and invested have been able to thrive". There is a difference. Those of us who don't save and invest have missed out on a tremendous opportunity to increase our wealth. If your friends racked up a lot of debt during the good times and didn't have assets to show for it when we entered recession in late 2007 they probably have a lot of catching up to do.
Loans and equity purchases of troubled financial companies were largely done in late 2008 and early 2009. Such measures were taken to choose the lesser of two evils. The government has reaped a profit on a number of these measures, and while all may not work out in the end, the demand for U.S. Treasuries is still there.
If one takes a $1000 cash advance on a credit card they may or may not end up being wealthier over time. What one does with the money determines that, and if one earns $200 with that borrowed principle and pays $100 in interest and $50 in taxes they are indeed wealthier for having taken the cash advance.
Unemployment is a problem, and will continue to be for a while. Many of us aren't competitive in a global economy with our current level of skill and education. The rate of increase in unemployment has been dropping over the last couple of months, and while that's not enough yet, it is a positive development over the trend from the last couple of years.
Unlike China, who can quickly and efficiently put federal stimulus dollars to work, the U.S. "suffers" from Democracy. Everyone with a voice loud enough to be heard is screaming for how and where that money should be spent. Meanwhile, homeowners suffer from "not in my backyard" syndrome. All these silly rights we enjoy as Americans get in the way of getting things done sometimes.
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China is facing a serious equity bubble themselves, directly stemming from the government throwing money at their problem. The overall demand for U.S. Treasuries has been and continues to come from them. What happens when....when...their demand dries up as their own bubble bursts. Who else is buying U.S. Treasuries now? In the future?
The dollar is being de-valued across the board which is why the cost of gold is up, as you mentioned. This isn't a good thing unless you're investing in a significant amount of gold. How many of our friends and neighbors are doing/can do that?
My friends didn't rack up alot of debt during the early 2000's, but some did see their portfolios sink during the crash. Myself included. If you're saying that I should have speculated the crash, and held off on all investment opportunities until July of this year, then I say I didn't have a crystal ball and lucky for you that you did.
I understand the propping up of the banks was a necessary evil. I also believe in a recovery...we have to. Is it honestly getting better right now? No. Is record deficit spending going to save us? I don't think so. Could it tank us? Yes.
Just like that $1000.00 cash advance on your credit card. Maybe you hit the jackpot....more than likely you're $1000+ more in debt.
teamorion22
Registered
alot of this 'bad economy' or market falls on me, you, your brother, neighbor and so on. it shouldn't take a recession or a depression for people 2 realize that you shouldn't have a mortgage payment over 25% of your monthly take home WITHOUT overtime. you shouldn't have a lexus if you work at sears. you shouldn't have a busa when your children get reduced lunches at their school.
crap like that.
but now the crap has hit the fan (and congress is just a guility as the previous admin) and it's all the presidents fault and bush and obama and yadayada yada
crap like that.
but now the crap has hit the fan (and congress is just a guility as the previous admin) and it's all the presidents fault and bush and obama and yadayada yada
I think we probably agree that all things being equal less debt is better than more debt. That said, half that $12 trillion is held by the U.S. government and individual and institutional investors. China holds less than $1 trillion.
If one is solely focused on unemployment it's relatively bleak right now - though stabilizing. If one is looking at the massive deleveraging of the credit markets, and subsequent multi-trillion dollar drop in household wealth that occurred in September/October '08 and poured fuel on the unemployment fire, there has been significant improvement. You wrote you don't have a crystal ball, and neither do I, so we can only make educated guesses as to what the future holds.
I'm haven't written anything about the timing of investments either. We also were somewhat heavily invested prior to September/October '08. The point I've attempted to make is simply that a number of things have improved since January 20, 2009. This fact is presented only to attempt to offset some of the "world is ending because a Democrat is in the White House" rhetoric that gets thrown out on this message board with too little thought and too much frequency.
In the end, if we invest our time blaming whomever is in the White House for our problems we're really just ensuring we're not taking responsibility for our own lives and our own success or lack thereof. That's taking the easy way out.
B.T.W. gold is an asset that anyone has the opportunity to own through exchange traded notes. GLD is the ticker symbol for one of these investment vehicles.
You write as if earning a 20% gross rate of return on an investment (my $1000 example) is similar to going to a casino or playing the lottery. Personally, I don't gamble...and I believe luck (good or bad) is something that happens to those who are unprepared.
Thank you for articulating your frustration vs. just throwing out one line expressions of discontent with nothing of substance to back them up. It makes for a more interesting discussion.
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afterhours
Registered
sometimes you gotta let the thing burn to the ground....before you can rebuild it.
we (all of us) spent the last decade plus increasing our debt, and living above our means....and when the credit dis-appeared, it all came crumbling down.....time to rebuild.
one thing that bugs me, we blame GW for everything....yet we ignore the fact that most of congress has been there for years.
there are only 11(11%) new senators, out of 100
there are only 55(8%) new members of the house of represntatives, out of 435 .
why do we not hold all of these people responsable for the mess we are in? most of them have been in washington before GW, and some of them (85 of them have been in washington for over 30 years) have been in office since the vietnam era.
we (all of us) spent the last decade plus increasing our debt, and living above our means....and when the credit dis-appeared, it all came crumbling down.....time to rebuild.
one thing that bugs me, we blame GW for everything....yet we ignore the fact that most of congress has been there for years.
there are only 11(11%) new senators, out of 100
there are only 55(8%) new members of the house of represntatives, out of 435 .
why do we not hold all of these people responsable for the mess we are in? most of them have been in washington before GW, and some of them (85 of them have been in washington for over 30 years) have been in office since the vietnam era.
+1 I didn't know about it an I couldn't careless about it a hand shake an a bow not with all shid going on in the world.
And back at you for the good points you've made, F=MA. I think we can agree to disagree on the current status and future of the country. I don't have an issue with Obama bowing to the emperor of China. I just don't like the economic direction he's taking the country. Could I be wrong? I hope so.
And I do have some gold in my portfolio. My point is just that gold isn't a reasonable investment to cover the eroding dollar for the everyday American. I still think there is a very long way to go before there is real relief, if any, for the middle class.
Just as I'm not going to call this administration a failure yet, I'm certainly not going to toot any horns for it either. I think more money is being shuffled and spent than is even comprehensible right now. Show me a solid ROI for our tax dollars in the next year or two and I may change my mind.
back at you for the good points you've made, F=MA. I think we can agree to disagree on the current status and future of the country. I don't have an issue with Obama bowing to the emperor of China. I just don't like the economic direction he's taking the country. Could I be wrong? I hope so. And I do have some gold in my portfolio. My point is just that gold isn't a reasonable investment to cover the eroding dollar for the everyday American. I still think there is a very long way to go before there is real relief, if any, for the middle class.
Just as I'm not going to call this administration a failure yet, I'm certainly not going to toot any horns for it either. I think more money is being shuffled and spent than is even comprehensible right now. Show me a solid ROI for our tax dollars in the next year or two and I may change my mind.
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