Just think, in ten years from now we will be 10 Trillion bucks in debt. And the democrats will still be blaming it on Bush.

"False Positive"

quote:

Originally posted by Duster6:
Just think, in ten years from now we will be 10 Trillion bucks in debt. And the democrats will still be blaming it on Bush.

Maybe that's because it is Bush's fault?

quote:

Originally posted by Duster6:
Just think, in ten years from now we will be 10 Trillion bucks in debt. And the democrats will still be blaming it on Bush.

And the Republicans will still be blaming Clinton.

Who to blame is not important. Fixing the problem is what is important.

quote:

Originally posted by crackerjacks61:

quote:

Originally posted by Duster6:
Just think, in ten years from now we will be 10 Trillion bucks in debt. And the democrats will still be blaming it on Bush.

Maybe that's because it is Bush's fault?

Its not all his fault. I had something to do with it as well as you also.

quote:

Originally posted by Duster6:
Just think, in ten years from now we will be 10 Trillion bucks in debt. And the democrats will still be blaming it on Bush.

the Bush bashers are second only to the Palin bashers!

Palin for president! Limbaugh for Vice President!

Soooooooooo what that the Dow is up to 8500!!! The unemployment is still climbing pass 10% to 12% in most states like California!!!!

What do you expect from California? I mean after all they have the largest population of Muslims, gangs, blacks, hispanics, and other non-working, welfare Kings and Queens than any other state.

But hey they also have Boxer, Feinstein, and Lady Pelosi too.

quote:

Originally posted by Duster6:

quote:

Originally posted by crackerjacks61:

quote:

Originally posted by Duster6:
Just think, in ten years from now we will be 10 Trillion bucks in debt. And the democrats will still be blaming it on Bush.

Maybe that's because it is Bush's fault?

Its not all his fault. I had something to do with it as well as you also.

Im guilty as well. I admittingly borrowed more than 30 million bucks from 1995 to 2006 to finance houses, apartments, aircraft, boats and investments. I now acutely feel the pain of having to make 100k in payments on the balances of those loans. The con men of Wall Street, Namely those of Goldman Sachs, came up with a ponzi scheme that would allow trillions to be available for credit. This money was seemingly as unlimited as the greed of those that happily participated in the desire of vast fortunes. There was so much money to lend and so much greed that anyone with a pulse could get a loan. Even being dead wasn't exactly a problem to the right loan broker. When Bush said to go shopping Americans literally took him at his word and cheerfully responded and spent more money over the next 6 years than they could payback in their lifetime. While congress recklessly spent our tax money and borrowed what they couldnt tax out of us we eagerly followed their lead and common sense went out the door in pursuit of McMansions, SUVs and flat screen TVs.

Congress looked the other way even when given ample opportunities to intervene and regulate but was busy spending us into oblivion themselves so why be bothered that folks were recklessly spending themselves gleefully to financial death, after all, wasn't that what congress itself was also doing?

I warned in early 2006 that we were living on borrowed time all the while the Bush followers continually told us everything was the best its ever been ignoring the simple fact that it was all being done on paper and none of this new wealth that took the dow to 13,000 was even real money. Im so very thankful that I changed my habits that year before the chit hit the fan in 2007. Things are tight and Im still buying houses but much more smartly than in 2004.

Americans are much wiser this year and folks are starting to save instead of spending on everything under the sun. I hope that this economic downturn has made us all wiser.

The simple fact of the matter is that the Dow has no business being where it is today. The fundamentals are all down. Unemployment is up, production is down, sales are down, profit margins are small (if existent), financials are still paying large debts, etc. So, why would the equities market be doing good right now? My belief is that if you throw a few trillion into the economy as our Congress did, you would expect to see things rise in opposition of logic. What are the dividend yields on many of these equities? I will tell you, they are close to nothing. So, what we have is a nice little bull bubble.

JPM is a fine example of a stock price that does not correctly correspond to it's financial state. It was selling for about $35 a share last year before the floor fell out beneath it. Yet, today that same stock is selling for $32 (it was hovering at $34-$35 last week). Somebody please explain to me why this stock is still at the same price. It had to use questionable accounting (not marking it's assets to market) in order to raise it's capital reserves. It still owes the government a few billion. It hasn't posted a legitimate profit in over two quarters. It's dividend is only 5 cents. As a matter of fact, almost all dividends have been slashed over the past 6 months. What gives? And, who are these idiots driving up the prices without utilizing the usual fundamentals of intelligent investing?

It must come down, because their is no worldly reason that it should be where it is today. And, I will bet my entire equities portfolio that we will see lower lows in this coming October than we saw in March.

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It must come down, because their is no worldly reason that it should be where it is today. And, I will bet my entire equities portfolio that we will see lower lows in this coming October than we saw in March.

I fear there is the potential for the "perfect storm" of events that could precipitate another fall in the market. I would like to hope things continue to improve but given the huge amount of worthless dollars being pumped into the economy logic overwhelmingly tells me we are headed for more trouble ahead.