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... Whenever any Form of Government becomes destructive of these ends,
it is the Right of the People to alter or to abolish it,
and to institute new Government ...
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Tuesday, March 03, 2009

Ben Bernanke tells Congress an economic recovery depends on the government's ability to stabilize weak financial markets--WRONG

UPDATE AT BOTTOM

Recovery depends on those with jobs having the confidence in tomorrow to go out and buy the 46" LCD screen which now costs 50% of what it did last year.

Stabilizing financial markets won't get nervous workers to buy foreclosed homes because they feel they won't lose their jobs and be foreclosed themselves.They feel the opposite. Speculators with cash are buying ..NOT WORKERS.

Govt announcements of more and more budget busting spending sprees which really announce we are not only not near bottom, and no one has a clue where that is, but also tell everyone below the level of words that the govt has no clue what to do and is going to try changing all the tires till they find the one that's flat, on the 18 wheeler, while they add trailer after trailer to the truck as they do so, with no end in sight ...at the same time they go after Rush Limbaugh to gain political advantage while claiming they are after post partisanship, that they are for free enterprise while creating a socialized society where the govt acts as if it can save everyone yet fumbles about lost as the market tanks, homes go empty, vehicles are repossessed with more frequency, and layoffs INCREASE AT EVERY REPORT...prove to us that we are headed for the ultimate moment of civil unrest.

This IS a revolutionary nation.

As the layoffs increase and more workers cannot pay their mortgages, and more homes are foreclosed, and more loans don't perform and the need to pour more money into the banks increases in unpredictable manners... what can end this?

We understand this wordlessly.

Why don't Bernanke, Geithner, and Obama get it? There is no point in HAVING a budget if we don't know what it will take to save the banks, because we don't know how many will be unemployed because we don't know what will give consumers the confidence to BUY THAT LCD before Best Buy goes belly up, and Samsung closes their LCD plant on Tolucca (or wherever)

Consumer demand is the first thing to fix. More credit is NOT the answer to that.

But if we are going to have a society where our wealth is not in our homes alone, or paper based on our homes, we have to make things here, for a profit. Right now a world wide redefinition of nations and economies is underway, just begun unnoticed, camouflaged as an economic crisis built around the banks.

Workers here are not yet ready to compete ECONOMICALLY with workers in Indonesia, Malaysia and India, but that moment is coming closer with the purchase of every Hyundai instead of the impossible and gone Oldsmobile.

The manufacturing pendulum swung far away from the USA, and the result is now a WORLD cataclysm, as the spending power of the heart of the world's economy was American real estate values .. if we cannot make things (even if that is to be software) for profit the balance will never return on this planet, and what comes next is anyone's guess.
Things are NOT going to go back to the way they were.

UPDATE:
WASHINGTON - President Barack Obama is comparing the stock market to the daily tracking polls used during campaigns, saying that paying too close attention to Wall Street's "fits and starts" could lead to bad long-term policy.

Okay how about a Dow of 9000 in January compared to 6800 today?
How about unemployment increasing continuously?
Auto sales, down dramatically.
Home sales down dramatically.
Obama spoke to reporters Tuesday after meeting in the Oval Office with visiting British Prime Minister Gordon Brown. Obama said he is not measuring policies against "the day-to-day gyrations of the stock market," but by whether lending is flowing more freely, businesses are investing and the unemployed are going back to work.

Yeah, that's what I'm saying. You're a blind man feeling out the vehicles just trying to change every tire on the tractor trailer because you know one is flat ..and you don't know which, or where the tools are.
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posted by Epaminondas at permanent link#

2 Comments:

Blogger WC said...

Obama said he is not measuring policies against "the day-to-day gyrations of the stock market,"

Yeah. The DOW dropping from 9000 to 6500 is just a day-to-day gyration.

Tuesday, March 03, 2009 7:40:00 pm  
Blogger midnight rider said...

I've known some gals can gyrate like that. . .

Tuesday, March 03, 2009 9:55:00 pm  

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