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Like I said ... take away all that paper equity ... and you can bet the financial people already have done this. All that money that could have driven the economy is now gone and/or unavailable. So every business has to readjust their earnings forcasts downwards, lay off help ... all the rest ... the stock market levels off where it would have naturally been with housing prices somewhere around where they are now.
It's going to take the housing market prices to stabilize, layoff cycles to take their course, investor equity to be once again pumped into a revitilized economy ... I'm guessing 2-3 years give or take.
EDIT: Whoever wins this election will get credit for the resurgence ... if they play their cards right this next election is worth 8 years ... not 4.
Wow! I'm impressed FBN...great post! You have a nice grasp on the complexity of today's economy...not that you need me to validate your comments.
I like your comments regarding the "illusion of weath" which was the reality we have been living in for 20 years. If we could really analyze what has happened, we'd find that the average American middle class has been short-changed. Our incomes have not kept pace with economic growth and the profiteering of US corporations. We have been mislead while corp. America had a party at our expense.
You're right though....there is just so much that needs to find the balance that capitalism depends upon. It won't happen from government intervention or wishful thinking, it's just going to take time.
If we do this right, our economy can end up more stable than it has in decades. Our politicians just need to keep their noses out it as much as possible.
Last edited by PatriotsReign; 10-06-2008 at 05:30 PM..
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If we do this right, our economy can end up more stable than it has in decades. Our politicians just need to keep their noses out it as much as possible.
I am waiting ... won't happen this election ... but I am waiting for 1 Presidential contender to say that earnings from savings (not retirement) will not be taxed up to $10,000 or so. That move would make our economy very strong and it would keep the dollar strong. Uncle Sam could recoup the lost earnings in other areas if needed.
Like I said ... take away all that paper equity ... and you can bet the financial people already have done this. All that money that could have driven the economy is now gone and/or unavailable. So every business has to readjust their earnings forcasts downwards, lay off help ... all the rest ... the stock market levels off where it would have naturally been with housing prices somewhere around where they are now.
It's going to take the housing market prices to stabilize, layoff cycles to take their course, investor equity to be once again pumped into a revitilized economy ... I'm guessing 2-3 years give or take.
EDIT: Whoever wins this election will get credit for the resurgence ... if they play their cards right this next election is worth 8 years ... not 4.
except two problems:
1. Most of our jobs are based in the service sector. How many people actually work in a job where it produces something in a factory or such?
That means if people don't have money to pay for a service then there just isn't that much of a demand in the service sector.
2. what is alot of this fake wealth has been or is in the process of being transferred to foreign markets by the wealthy elite? I call this the swindle factor where these bailouts gave enough time where stocks were elvated that the elite could sell and then transfer them to euros or such.
this also goes along with just because banks are going to be having more credit available doesn't mean they are going to lend it out. why would they unfreeze the markets at any risk?
__________________ "There are two categories of superbowl participants that nobody remembers:
The team that lost the game and the team that only won one." Dwight White- Steelers
I am waiting ... won't happen this election ... but I am waiting for 1 Presidential contender to say that earnings from savings (not retirement) will not be taxed up to $10,000 or so. That move would make our economy very strong and it would keep the dollar strong. Uncle Sam could recoup the lost earnings in other areas if needed.
Pretty good idea...I like it FBN! We need to move towards countries like Japan & China where the average citizen saves over 20% of their income! Not like us "I want it now" Americans.
I think this would help. However, earnings on $10K is only around 2% or $200 a year...not much incentive.
Pretty good idea...I like it FBN! We need to move towards countries like Japan & China where the average citizen saves over 20% of their income! Not like us "I want it now" Americans.
I think this would help. However, earnings on $10K is only around 2% or $200 a year...not much incentive.
No ... I meant $10,000 earned in interest not taxed.
Wow! I'm impressed FBN...great post! You have a nice grasp on the complexity of today's economy...not that you need me to validate your comments.
I like your comments regarding the "illusion of weath" which was the reality we have been living in for 20 years. If we could really analyze what has happened, we'd find that the average American middle class has been short-changed. Our incomes have not kept pace with economic growth and the profiteering of US corporations. We have been mislead while corp. America had a party at our expense.
You're right though....there is just so much that needs to find the balance that capitalism depends upon. It won't happen from government intervention or wishful thinking, it's just going to take time.
If we do this right, our economy can end up more stable than it has in decades. Our politicians just need to keep their noses out it as much as possible.
I agree on your sentiments PR, but a large portion of the middle class had a fine dandy time at the "savers" expense. Those who actually saved money in 401k's and saving's accts are the ones who paid through devaluation of their retirement fund or eventual inflation of introductory of new money into the system.
In the end my neighbor who has his boat, the plasma tv, the new car, the nice vacation and then had his foreclosed on is the "savers" problem and expense.
I'll agree that corporate america had a great time, but so did all these people who lived beyond their means and ultimately got foreclosed on.
__________________ "There are two categories of superbowl participants that nobody remembers:
The team that lost the game and the team that only won one." Dwight White- Steelers
I am waiting ... won't happen this election ... but I am waiting for 1 Presidential contender to say that earnings from savings (not retirement) will not be taxed up to $10,000 or so. That move would make our economy very strong and it would keep the dollar strong. Uncle Sam could recoup the lost earnings in other areas if needed.
I would love that. I would save as much as I could.
FBN, a very good idea.
It would finally give an incentive to become a nation of savers rather than spenders.
If each person was allowed $10000 per year no taxable savings, but how do you regulate this and monitor it?
Banks accounts need to be at certain levels throughout the year?
__________________ "There are two categories of superbowl participants that nobody remembers:
The team that lost the game and the team that only won one." Dwight White- Steelers
I agree on your sentiments PR, but a large portion of the middle class had a fine dandy time at the "savers" expense. Those who actually saved money in 401k's and saving's accts are the ones who paid through devaluation of their retirement fund or eventual inflation of introductory of new money into the system.
In the end my neighbor who has his boat, the plasma tv, the new car, the nice vacation and then had his foreclosed on is the "savers" problem and expense.
I'll agree that corporate america had a great time, but so did all these people who lived beyond their means and ultimately got foreclosed on.
Good point Biggles...but at least the middle class spenders are paying an awful price in losing their homes. Something that will follow them for a lifetime!
What price is corp America paying? oh, I forgot, they're getting $700 BILLION of our tax dollars!
See what I'm saying biggles?
Last edited by PatriotsReign; 10-06-2008 at 05:42 PM..
Good point Biggles...but at least the middle class spenders are paying an awful price in losing their homes. Something that will follow them for a lifetime!
What price is corp America paying? oh, I forgot, they're getting $700 BILLION of our tax dollars!
See what I'm saying biggles?
great points all around. it's too bad that ceo wealth is probably overseas now.
__________________ "There are two categories of superbowl participants that nobody remembers:
The team that lost the game and the team that only won one." Dwight White- Steelers
Speaking of morons, there is already talk that the $700 billion isn't nearly enough! They are saying it's just the beginning of the bailouts!
Seriously eff every single one them!
"Both major-party presidential candidates declared today that the global stock sell-off -- that pushed the Dow Jones industrial average below 10,000 for the first time in four years -- shows that the $700 billion bailout passed last week isn't enough to rescue the economy.
This isn't the end, it's just the beginning...."
Then fine...I say send me a fat check so I can buy some more "stuff". The only thing is, every time one of these checks is sent out, I don't get one! Talk about knowing how to piss off your average American!
Re: Dow Down 800, Morons Never Learn
Linear Mode
