Wall Street Is Stealing Another 20% From You

[chanel]

Statistically, the odds now predict Wall Street losing another 20% of your money in the next decade. The momentum's headed down. So, what should you do? Sell all your stocks, ETFs, bonds and funds. Get out of commodities and gold. Sell.

You think I'm crazy? Imagine: You're a 50-year-old boomer. Flash forward to 2020. Retirement time? But you've lost another 20%, while those Wall Street Fat Cats will be paying themselves record bonuses averaging half-a-million annually for all 10 years from 2010 and 2020 ... but you can't retire. They got their bonuses siphoning money out of your accounts.

In fact, it's highly doubtful that you, your portfolio, your family or your America will make it past 2012, let alone into that comfortable retirement you may be planning for 2020. The Wall Street casino's version of "Liar's Poker" is a "Loser's Game," and the odds are high are they'll lose a lot of your money again in the coming decade.

Wall Street Is Stealing Another 20% From You - FOXBusiness.com)

Scary article.

Does anyone give any credence to this? What's this Paul Farrell's reputation?

 

[Neubarth]

You can tell people the obvious that the Service Sector collapse that is 70 percent of the economy is the greatest factor in our collapsing country. Manufacturing is ten percent of the economy.

The recent three percent rise in the manufacturing indexes (Suspect) is equivalent to a 0.3% boost to the economy, but it is not enough to offset the ten percent fall in the service sector in the same period.

To get a feel for how the Service Sector segment of the economy is doing, all you have to do is look at the weekly UI claims numbers. If we have more than 350,000 people filing for UI each week, we have a collapsing Service Sector.

 

[uscitizen]

An economy that is 70% based on consumer spending cannot long last.

 

[Neubarth]

An economy that is 70% based on consumer spending cannot long last.

Here are the untampered UI weekly claims numbers from the states since September. As you and everybody else can see we are in a serious Depression with all of these Millions and Millions of people losing their jobs. This is not a normal condition even if Obama wants you to believe that it is.

The idiots on this board will tell you that these numbers do not matter, as most of these people find jobs right away. If you believe the government lies, you will believe that. I don't believe the government lies about unemployment. We are in a world of hurt.

UNADJUSTED DATA
452,468 in the week ending Feb. 20
476,730 in the week ending Feb. 13
504,661 in the week ending Feb 6
530,405 in the week ending Jan. 30
500,392 in the week ending Jan. 23
650,728 in the week ending Jan. 16
801,086 in the week ending Jan. 9
645,571 in the week ending Jan. 2
557,155 in the week ending Dec. 26
561,902 in the week ending Dec. 19
555,344 in the week ending Dec. 12
664,865 in the week ending Dec. 5
460,989 in the week ending Nov. 28
543,926 in the week ending Nov. 21
479,295 in the week ending Nov. 14
529,446 in the week ending Nov. 7
480,178 in the week ending Oct. 31
492,456 in the week ending Oct. 24
460,449 in the week ending Oct. 17
503,973 in the week ending Oct. 10
449,375 in the week ending Oct. 3
443,694 in the week ending Sept. 26
434,358 in the week ending Sept. 19
407,869 in the week ending Sept. 12


U.S. Department of Labor: Employment & Training Administration (ETA) News Releases

 

[uscitizen]

No it is not a normal condition, not even when it was happening under Boosh.

It is however inevitable.

 

[Vanquish]

An economy that is based on spending cannot long last.

Fixed.

 

[uscitizen]

An economy that is based on spending cannot long last.

Fixed.

Nope all economies are based on spending by someone somewhere.
.

 

[mayya555]

Nope all economies are based on spending by someone somewhere.
.

Oh are they?

 

[uscitizen]

Nope all economies are based on spending by someone somewhere.
.

Oh are they?

Yep.

 

[boedicca]

This isn't good news:

Even as many Americans still struggle to recover from the country's worst economic downturn since the Great Depression, another crisis – one that will be even worse than the current one – is looming, according to a new report from a group of leading economists, financiers, and former federal regulators.
new report predicting more financial troubles ahead for the US economy.

In the report, the panel, that includes Rob Johnson of the United Nations Commission of Experts on Finance and bailout watchdog Elizabeth Warren, warns that financial regulatory reform measures proposed by the Obama administration and Congress must be beefed up to prevent banks from continuing to engage in high risk investing that precipitated the near collapse of the U.S. economy in 2008.

The report warns that the country is now immersed in a "doomsday cycle" wherein banks use borrowed money to take massive risks in an attempt to pay big dividends to shareholders and big bonuses to management – and when the risks go wrong, the banks receive taxpayer bailouts from the government.

"Risk-taking at banks," the report cautions, "will soon be larger than ever." ...

Economists Warn Another Financial on Way to U.S. Economy - ABC News


The only reform we really need is to get rid of Too Big Too Fail. As long as banks know that cowardly & venal politicians will bail them out with taxpayer money, the moral hazard will result in abusive risk-taking.

LET THEM FAIL.