Economy Getting Stronger

[jaxfam6]

Also tell it to the great number of young people who have been looking for jobs for MONTHS.
We overheard a couple of people talking the other day and the one lady said that their company was hiring 10 people and they had over 1000 applications.

[Nitehawk013]

Jerm...you may be right. At THIS MOMENT there may be a bit of an uptick in the economy. However, you are being shortsighted because you like Obama.

Ignore the partisan stuff and just LOOK at what is happening in the world right now. Look at what is on the brink for our economy.

Obama has spent more in his first year almost than the last two POTUS's together (GWB & Clinton). The "spendulus" money is NOT going where it was supposed to go. He promised 30 million "shovel ready" jobs would be filled. Yet the money sits in congress waiting. (Waiting for next year so he can use the money then to try to help buy the mid-term elections for the Dems).

He is pushing healthcare that will add another $800+ BILLION dollars to the deficit. There is talk now of creating a MASSIVE "War Tax" for the rich in order to pay for the war. He still remains faithful to push Cap & Trade, which will not only add to the deficit we already have...but will cripple many many businesses.

The dollar may have a slight uptick, but it is still DOWN 28% from 2008! Foreign ALLIES are talking about getting rid of using the dollar. China, Russia and Iran are talking about no longer using the dollar for oil pricing.

GWB was no fiscal conservative. He did a lot wrong! Obama is 100 times worse than him though. If you cannot see that then you are the one looking through partisan or racial glasses. Obama is crippling our economy today and burying us in debt for the next 100 years.

He wants Socialism, so he must first cripple and kill capitalism.

[RevDWW]

Maybe things are not as rosy as projected.............
http://apnews.myway.com/article/20091124/D9C5UBSO2.html

[rgcraig]

I must not be average - - mine is still $25K DOWN!!!

[StillStanding]

Some experts are saying that we will see a 10-20% market correction in the next couple of months. The market is in a bubble from optimism that the economy is doing better. Many people are taking their cash and are putting it back in equities which is driving the market higher.

The truth is that companies are staying profitable by cutting costs which also means lay-offs. Watch for another tide of lay-offs in late December and January.

Real recovery of the economy will take 2-3 years! Probably too late for Obama to get re-elected!

[ILG]

I think the economy is really scary right now. We are seeing things that are pretty much unprecedented. The debt is HUGE, they are wanting to implement health care and the dollar is shrinking and the administration seems to PREFER that it shrink. That's the wierd part. It would seem Obama is looking out more for the global market than the U.S. and gold is going through the roof.

I am selling the gold I have right now....I bought some a couple years ago and now wish I had bought more. I am hoping this is the right move....but it is profitable now. I guess this is a vote for eventual recovery. I do believe that with the dollar falling we are going to see some inflation. There is supposed to be a commodity bubble breaking next. I guess time will tell.

I do NOT see this as a normal recovery.

[Monterrey]

Originally Posted by ILG

I think the economy is really scary right now. We are seeing things that are pretty much unprecedented. The debt is HUGE, they are wanting to implement health care and the dollar is shrinking and the administration seems to PREFER that it shrink. That's the wierd part. It would seem Obama is looking out more for the global market than the U.S. and gold is going through the roof.

I am selling the gold I have right now....I bought some a couple years ago and now wish I had bought more. I am hoping this is the right move....but it is profitable now. I guess this is a vote for eventual recovery. I do believe that with the dollar falling we are going to see some inflation. There is supposed to be a commodity bubble breaking next. I guess time will tell.

I do NOT see this as a normal recovery.

Of course we must see inflation. The interest rate has to start climbing, (this translates to refinance now while they are low) in order to reward people for savig money. Things are going to get real tough for those who live on credit cards. Interest rates are already climbing. Citi bank just raised one of their rates to 27%. Killer.

The economic picture, worldwide is sad. Mexico, just today, got downgraded to two steps above junk bond level. No suprise. Other countries are not much better.

The big rich four, Britain, US, Japan and Italy are being watched to see who will default first.

http://www.moneymorning.com/2009/11/...-debt-default/

This thinking that we are through the crisis is wishful thinking. There are hard times ahead.

[ILG]

Originally Posted by Monterrey

Of course we must see inflation. The interest rate has to start climbing, (this translates to refinance now while they are low) in order to reward people for savig money. Things are going to get real tough for those who live on credit cards. Interest rates are already climbing. Citi bank just raised one of their rates to 27%. Killer.

The economic picture, worldwide is sad. Mexico, just today, got downgraded to two steps above junk bond level. No suprise. Other countries are not much better.

The big rich four, Britain, US, Japan and Italy are being watched to see who will default first.

http://www.moneymorning.com/2009/11/...-debt-default/

This thinking that we are through the crisis is wishful thinking. There are hard times ahead.

27%?? Ouch.

Yes, interest rates will have to rise eventually.

They are saying that the next wave of foreclosures are just beginning.....the first wave was the subprime mess and this second wave is because of unemployment.....which means the housing mess is not over yet.

I like watching the Schiff report:

http://www.youtube.com/user/schiffreport?blend=2&ob=4

And Harry Dent

http://www.youtube.com/watch?v=e_JzAEzYLt4

They have both written books on the "upcoming depression". I have felt in my gut for about 20 years that things were going to get bad. I still think they are going to get worse than they are right now. I don't mean to be a "chicken little sky is falling" type.....but in my opinion...the signs just point that way. You can find economists who believe either way...but I have always leaned conservatively.

[Monterrey]

Originally Posted by ILG

27%?? Ouch.

Yes, interest rates will have to rise eventually.

They are saying that the next wave of foreclosures are just beginning.....the first wave was the subprime mess and this second wave is because of unemployment.....which means the housing mess is not over yet.

I like watching the Schiff report:

http://www.youtube.com/user/schiffreport?blend=2&ob=4

And Harry Dent

http://www.youtube.com/watch?v=e_JzAEzYLt4

They have both written books on the "upcoming depression". I have felt in my gut for about 20 years that things were going to get bad. I still think they are going to get worse than they are right now. I don't mean to be a "chicken little sky is falling" type.....but in my opinion...the signs just point that way. You can find economists who believe either way...but I have always leaned conservatively.

Anytime that sound financial practices are violated then there is a cost to pay. We are seeing the results and they are not pretty.

I was advising someone recently to really watch what happens at the end of the year, keep an eye on their stock portfolio, as it very possibly and probably will fall again when the credit crisis hits hard. Housing is only moving because of Obamas money to first time homebuyers that will end in June.

I concur with you that it is getting ready to hit again.

BTW, I like Dent also. He saw some of this coming ten years ago and was warning about it. Been keeping up with him for sometime myself.

[ILG]

This guy demonstrates the American ignorance about the economy:

http://www.youtube.com/watch?v=Gk5aRIz17fk