Hello all--one day left here on the Outer Banks--no scale here, so no weigh-in (probably a good thing after the sloth and gluttony evidenced here).
It's your turn--what's on your mind? What burning issues are worthy of further debate here on the CW?
Fire away good citizens, fire away.
Friday, August 28, 2009
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7 comments:
One of the smartest guys i know posted the following on his Facebook site:
If one feels that healthcare is a "right" (and you want to raise my taxes to pay for it), why would one draw the line at providing universal healthcare for only Americans? Shouldn't it be "internationalized" and provide the same standard of care for all the world's citizens?
The DOW average is up over 9,000; a 44% increase from its 6,600 mark set six months ago. To what would you attribute this mini bull rally to:
• the mood of the market that the worst of the financial meltdown is over, and that the economy has “turned a corner”
• better-than-expected corporate earnings in some sectors
• it’s a suckers rally
• it was under-valued six months ago
• because The One said it to be so
Or is it something else?
Dead cat bounce? Real unemployment, the unemployment rate if everyone were counted -discouraged workers, new graduates etc.-is 16% according to a Fed official. I personally think it's pushing twenty. Inflation hasn't kicked in yet and it's damn sure coming. The markets are always looking six months out and maybe they're licking their chops at all the stimulus cash right around the corner.
Some companies are actually doing well. I'm a Mac guy and I put a little cash in Apple every month. In the last few months I've been very pleased, especially compared to some of the dogs.
But as I've said before, the fundamentals are an absolute horror, and when the economy starts to turn really bad...well it's going to be ugly.
My vote: it's a sucker's rally. Get out in September (historically October is a bad luck month for the markets).
I'm looking to clean up when the market crashes, so I'm putting my money in Sham Wow!
Business' close = Tax Revenues down.
Unemployment rises = Tax revenues down.
Consumers fearful and buy less = Tax revenues down.
Tax revenues down = Governments increasing taxes to make up the shortfalls.
Taxes increased = business closings
I think you get the point. As we add in the factor of President Obama devaluing the dollar by printing money like there is no tomorrow.
Come to think of it, we may be lucky if there is no tomorrow.
Nation's Unemployment Outlook Improves Drastically After Fifth Beer
Planning and Democracy The statesman who should attempt to direct private people in what manner they ought to employ their capitals, would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted to no council and senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.—Adam Smith
The quote above taken from Chapter V of The Road to Serfdom by Friedrich Hayek published in 1944. It would appear that socialism is still with us in spite of its constant failures. The lure to the unsuspecting voter is too great.
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