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View Full Version : 2010 SPRING ECONOMIC RECOVERY IN THE MAKING?


Rick
04-16-2010, 03:27 PM
Some of my wealthy friends, along with the liberal mainstream news media have been crowing about the beginning of the US economic recovery. After all, we regained over 125,000 new jobs against the 42 million jobs lost. The stock market has skyrocketed past 11,000 because of a record number of quarterly corporate profits. I told my friends, this is nice but I really think that this is what is called a "technical correction" in the stock market.


What i'm saying is that even though the economy is experiencing dramatic "ups" in corporate quarterly profits resulting in the rise of the stock market, the wise economist views this activity as a "DEAD DUCK BOUNCE". Remember folks, it's customers (people like you and me) who fuel the grass roots of any economy and this applies to the entire world. If corporations reduce their overhead by laying off hundreds of thousands (millions) of employees, shuttering costly corporate branches and factories and reduce inventories, OF COURSE they will show near term profits. One of the funniest (sick) examples of corporate profits is the RECORD 2ND QUARTER PROFIT of $2.42 BILLION dollars posted by BANK OF AMERICA who is making a fortune from the misfortunes of millions of Americans who cannot make their payments due to job loss and income reduction. BAC will not work with anybody and is ruthless with the foreclosures. They want Americans to lose their homes. America should BOYCOTT Bank of America and give them a taste of their own foul medicine. The bank has received $45 billion in bailout funds as part of the Treasury Departments $700 billion financial rescue package. It's not known when it will repay the government. In my opinion, based on it's actions to date, BANK OF AMERICA is AN ENEMY OF THE AMERICAN PEOPLE and should be dealt with accordingly....There, I said it and I mean it.

When the dust clears in a few months these "profitable" corporations will experience another and more severe case of the downs, since the consumer population will not be buying anything. Most people in the U.S. have lost their good credit and will remain in credit hell since the four horseman of the credit demise devil (Transamerica, Experion etc.) will keep these people black listed from ever buying again unless they file bankruptcy. Foreclosures will rise dramatically because unemployment will eventually run out and self employed people are near to exhausting their savings. No real help is on the horizon for middle class America, independent entreprenuers or small business.

Hence, the MEGA-DEPRESSION that I fear is just over the horizon. Full effects which may start as early as 1-2 years from now. It may sound to you that I am pessimistic, but the signs are all there for anybody intelligent to see. Call it the "CALM BEFORE THE STORM".

By the way, it seems that the OBAMAS earned $5.5 million for the year 2009, which was mostly from book sales royalties. At least we know that the Emporer won't starve. More interesting to note is that out of this $5.5 million, the Obamas donated $329,000 to charities including $50,000 to the United Negro College fund (remember where his head is at - I mean, in this day and age do we really need a "NEGRO" college fund?...Is that not by nature a RACIST organization, regardless of its well meaning?). Obama also donated his $1.4 million dollar Nobel Peace Prize money to 10 unnamed charities. Think about this while your starving to death and cannot pay your rent or mortgage payment, basic bills and taxes.

So pool your remaining savings and go see a movie.... AND Smile, cause God loves you.;)