Neubarth
At the Ballpark July 30th
We are tottering on the edge of a steep precipice that we still could still fall into. Once we start falling, there could be no stop until we hit bottom. The rest of the world will be down there with us wondering, "Just what in the hell happened to our great global economic boom? It appears to have popped just like a balloon."
The only thing keeping us out is the outlandish Federal Spending of the past two years. I did not favor the bailouts for GM and Chrysler, but most of the rest was an appropriate last ditch effort in a maelstrom of extreme confusion. Paulson and Bush took a step in the right direction with their initial action as Bush was preparing to leave office.
Bernanke may think he knows what he is doing but I am not convinced.. Geitner, ever optimistic for show, is just guessing, as the variables in this whole mess can not be quantified.
The variables as I see them:
One is the derivative damage. Nobody knows what the real number is.
Two is the impact of the Global Recession. Nobody knows how great this is going to get, but it could drag us down with it, as we are not the industrial giant we once were.
Three is deflation spurred on by collapsing home values initially and now by collapsing commerical real estate and lack of demand by the public.
All three of these elements combine to leave us so confused that we don't know if we should sh!t or go blind.
Right now, the stock investors have gone blind. The world economy is too unstable to be buying stocks.
The stress test was conducted because many economists are now convinced that the Global economy will drag us down. That is my fear, too. In spite of what the administration says, I believe that the stress test was not all comprehensive, and I fear for the future.
The only thing keeping us out is the outlandish Federal Spending of the past two years. I did not favor the bailouts for GM and Chrysler, but most of the rest was an appropriate last ditch effort in a maelstrom of extreme confusion. Paulson and Bush took a step in the right direction with their initial action as Bush was preparing to leave office.
Bernanke may think he knows what he is doing but I am not convinced.. Geitner, ever optimistic for show, is just guessing, as the variables in this whole mess can not be quantified.
The variables as I see them:
One is the derivative damage. Nobody knows what the real number is.
Two is the impact of the Global Recession. Nobody knows how great this is going to get, but it could drag us down with it, as we are not the industrial giant we once were.
Three is deflation spurred on by collapsing home values initially and now by collapsing commerical real estate and lack of demand by the public.
All three of these elements combine to leave us so confused that we don't know if we should sh!t or go blind.
Right now, the stock investors have gone blind. The world economy is too unstable to be buying stocks.
The stress test was conducted because many economists are now convinced that the Global economy will drag us down. That is my fear, too. In spite of what the administration says, I believe that the stress test was not all comprehensive, and I fear for the future.