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Originally Posted by tk27
UBL’s goal to is cause our internal decay and collapse from the cascading effects of our response. We are in a dire financial position. The dollar is on the verge of tanking, massive amounts of mortgage foreclosures are just a shot away, and energy cost and dependency will be doing nothing but increasing for years. I think any direct confrontation of Iran would be the tipping point of our nation’s implosion.
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We have a very very healthy economy that has been chugging along since The Dimocrat Jimmy Carter left office. There have been some peaks and valleys but that is how economics work. TAX CUTS! Read all about it. John Kennedy recognized the importance of TAX CUTS to fuel an economy. Too bad the new Dimocrats cannot grasp this idea.
If our economy was as fragile as you say, how is it that 9/11 had such a minimal effect? In fact the TAX CUT imposed by President Bush and the Republicans rescued us as we were reeling.
One only has to look at The DOW to realize we are steaming ahead! Hard to understand how we vaulted over 13000 to pull back (just a tad) when only weeks ago the Bears were wringing their hands yelling SELL when the Dow took a 400 point hit.
Foreclosures are always going to occur. Heck, my county led the nation in Forclosures at the end of 2006 and again first quarter 2007. Haven't seen any banks closing. The only thing closing are Mortgage Companies. Weak Mortgage Companies! There is always a shake out after a boom. Look at the Software Industry. That boom created a bubble that burst and turned alot of undeserving millionaires into wage earners, where they belonged in the first place.
1. Mortgage rates 6.125 percent to end the week.
2. Dow record territory.
3. CD rates. 5 to 6% for 1 year CD's.
4. Pay raises keeping up with inflation
5. European and Asian stock markets UP.
The biggest risk to our economy is the threat of a trade war with China. If that happens look out. By the way. It is the Dimocrats that have been introducing legislation to penalize (tarrifs) China for failing to adjust the (Yuan) or whatever the hell their currency is. If there is a trade war you can blame the Dimocrats, not the Chinese. Fortunately the Fed Chairman has made several trips to China to work on the problem. I believe the Vice Premier is coming to the US to meet with him regarding this issue.
The only consolation I derive from Dimocrats is the fact that they are for the most part bears and their money has been sitting in fixed rate accounts for years, missing the earnings.
Our economy is resilient just as most Americans are resilient. The sky is not falling.
Energy costs have been artificially low for decades. I still spend a smaller percentage in energy costs than I did in the 70's. Luxury items such as cars, audio video equipment are drastically reduced ration wise than in the 70's. The only thing that has continually appreciated is real estate (ignoring the 70's and early 80's of course, damn Carter) and the stock market.
Remember the October 1987 dive in the stock market. It took exactly 11 months to regain all losses (if you stayed put) . !987 finished in plus territory regardless of the scariest day on Wall Street since the depression.
Okay enough ranting.