Recent Obama speach on Economy

“In the last few days, we’ve seen proposals arise from some in Congress
that you may not have read but you’d be very familiar with because
you’ve been hearing them for the last 10 years, maybe longer. They’re
rooted in the idea that tax cuts alone can solve all our problems; that
government doesn’t have a role to play; that half-measures and
tinkering are somehow enough; that we can afford to ignore our most
fundamental economic challenges — the crushing cost of health care,
the inadequate state of so many of our schools, our dangerous
dependence on foreign oil.

So let me be clear: Those ideas have been tested, and they have
failed. They’ve taken us from surpluses to an annual deficit of over a
trillion dollars, and they’ve brought our economy to a halt. And that’s
precisely what the election we just had was all about. The American
people have rendered their judgment. And now is the time to move
forward, not back. Now is the time for action.”

President Obama

Accuracy.

Tags: , ,

Leave a comment

Filed under Blogroll

Feelin’ All Right, Not Feelin’ to Good Myself.. Dave Mason

“It is no measure of health to be well adjusted to a profoundly sick society.”
– Krishnamurti

Tags: ,

Leave a comment

Filed under Blogroll

Are We Over Reagan Yet?

But 2008, we saw the price of a median single family home drop 15 percent. Never before have we seen that on record. Industrial production, which is the measure of how much we actually make in this country, has never been lower than it is right now.

Personal income, adjusted for inflation, was higher then than it is today. Personal savings — right after Reagan got elected, people were socking away 12 percent of what they made, today, virtually nothing, which means we don’t have anything to get us through a recession.

But put all of the economic talk aside for a second. Ultimately — we have talked about this many times — this is an economy that is based on people’s willingness to spend money, more than any other economy in the world. People are not willing to spend money.

And just to give you the one indication of this that we always talk about, and it’s consumer confidence. Inconveniently, for Mr. Limbaugh, the standard for consumer confidence was set in 1985. So, 1985, whatever consumer confidence was back then is considered 100. Today, it
is at 38. It is the lowest it has ever been.

Some guy from CNN trying to use reason and facts to argue a point with comedian Rush Limbaugh.

Tags: , ,

Leave a comment

Filed under Blogroll

Reaganomics won US Lost

Alexander Hamilton’s 1791 report to Congress on manufacturers. Hamilton laid out this six-step plan to build an industrial economy in the United States. And, we followed it. Congress actually put it into place in 1792 and it stood until Ronald Reagan came along and started deconstructing this, followed by George Herbert Walker Bush, Bill Clinton and George Bush, now, and the legislatures, mostly pushed by the Republicans, taking this thing apart. I mean, you could argue that some it started with Taft-Hartley. But, basically, the Founders laid this thing out; they had it figured out. And, it worked. We built the biggest industrial infrastructure, industrial economy in the world. We have gone—when Reagan came into office we were the largest exporter of manufacturing goods and the largest importer of raw materials on the planet. And, the largest creditor—more people owed us money than anybody else in the world. Now, just 28 years later, we’re the largest importer of finished goods, manufactured goods; the largest exporter of raw materials—which is kind of the definition of a third-world nation—and we’re the most in-debt of any country in the world. This is the absolute consequence of Reaganomics.

Tags: , ,

Leave a comment

Filed under Blogroll

New American Hero

This is the guy who paid back his investors and shut down his fund after scoring the biggest gains in history for his investors.

“I was in this game for money,” the 37 year old Lahde wrote. “The
low-hanging fruit, i.e. idiots whose parents paid for prep school, Yale
and then the Harvard MBA, was there for the taking. These people who
were (often) truly not worthy of the education they received (or
supposedly received) rose to the top of companies such as AIG, Bear
Stearns and Lehman Brothers and all levels of our government.”

“All of this behavior supporting the Aristocracy, only ended up making
it easier for me to find people stupid enough to take the other sides
of my trades. God Bless America.”

He ended his rant by arguing for the legalization of marijuana. All in all, Andrew Lahde seems a lot more interesting than your typical hedge fund manager.

Tags:

Leave a comment

Filed under Blogroll

Peter Schiff who got the Crash “On the money” speaks

In the end, by refusing to allow market forces to work their cure, our economy will inevitably die from the disease. Our economy will now face death by hyperinflation, which will cause a complete loss of confidence in the dollar and result in prices and interest rates skyrocketing out of sight. The evaporation of our national wealth will lead to civil unrest, food and energy shortages, and the possible imposition of martial law. If such a scenario unfolds, what is left of our Constitution will surely be completely shredded.

Although this reality looms as large as anything I have ever seen, investors still do not see the forest for the trees. Convinced that the bailout will actually work, and that foreign governments are derelict for not launching similar plans, global investors are fleeing other currencies in favor of the dollar. Soon investors will discover that foreign politicians and central bankers have acted responsibly. When they do, the current gains seen by the dollar will reverse violently.

Investors seem to be bracing themselves for a global depression that will not occur. Foreign stocks, particularly those exposed to China or natural resources, are trading at the lowest valuations I have seen in my entire career. Fears of a global meltdown are based on the misconception that the U.S. economy is the tent pole for economic activity around the world. The premise of my entire argument is that the U.S. economy, by consuming so much of the world’s resources and manufactured goods, and borrowing so much of the world’s savings, has in fact been a drag on the global economy.

The enormous global vendor financing scheme is finally coming to an end as the vendors discover that their biggest customer is flat broke. In the short run, our creditors are experiencing some pain because they finally realize that they will never get their money back.

Once the foreign stock markets take this hit, they will be far better poised to grow than their American counterpart. Foreigners will reclaim their productivity and savings for themselves, and will subsequently experience the biggest global economic boom in history. America on the other hand will fare much worse, as we will be left with a hollowed out manufacturing base, dilapidated infrastructure, no savings, and a gigantic Federal Government that will regulate, spend, borrow and print our economy into ruin.

For an updated look at my investment strategy, order a copy of my just released book, “The Little Book of Bull Moves in Bear Markets.” While the “bull moves” I forecast have yet to materialize, I am confident that given time they will. The good news is that now you actually have some time to put my strategy in place at favorable prices and exchange rates!

Peter Schiff is the President, Founder and Chief Global Strategist for Euro Pacific Capital. He is widely acknowledged as a expert in international markets, and in global economic strategy. He is a speaker at all the major investment conferences. He is regularly featured on CNBC and Bloomerg TV , and often quoted in the Wall Street Journal, Barron’s, New York Times, the Financial Times, Investors Business Daily, and many others.

Tags:

Leave a comment

Filed under Blogroll

Dean Baker: Wall Street’s Infinite Sleaze: Goldman and AIG

“Lloyd C. Blankfein, Goldman Sachs CEO, was in the room with Henry Paulson (former CEO of Goldman) when the decision to save AIG was made. Because Henry Paulson (again..former CEO of Goldman) decided to rescue AIG, Goldman gets paid in full.” AIG owed Goldman $20 billion.

You are in the club or you are not. Billions of bailout bucks for bafoons. The con continues.

comments

View Original Article

Leave a comment

Filed under Blogroll