Economy: Stock Market crash & burn..

And the stock market is doing so real hard. My 401(K) is down 20% in the last 3 months. Maybe this is part of Obama’s new jobs plan or agenda to save Social Security? If people with private investments end up penniless too, these crooks are hoping they will convince them they must allow them to tax them more to save SS. And the thing is that the usual suspects have been screwing us all along. Oh Barney where areth thou?

I know that this economic downturn not solely Obama’s fault, but it’s his ideology’s belief in command economies and the steps they have been taking to make it so, in the last 3 years in particular, that’s doing the damage to us now. From Greece to Washington D.C. spending on the socialist utopia while borrowing to pay for the incredulous costs, has decimated and devastated everyone’s economy. And the solutions the left seems to continue to favor are just digging the hole deeper. We have run out of other people’s money, people.

It’s obvious to me that the EU is doomed. And we are going to feel a lot of that pain. If they, well when they actually, fracture however, the country I feel will end up hit the hardest will be China however. And I think the Chinese have figured that out, but are betting on just owning so much of the EU that they win in the long run anyway. Even worse news though, is the news that our Senate just started a currency war with them, to top things off. Personally I think a currency/trade war with China will hurt the US consumer, with those on the lowest economic scale taking the hardest hits, in the short run, but what China is doing now with their currency, in the long run, will be far more harmful to us. The Chinese are abusing the system, and they need to stop. The problem is that so far everything we have done has backfired on us. I hope this one doesn’t do more of the same.

Of course, some people are making a killing out of war. I guess that war does pay off. And Obama is getting desperateand occasionally doing something right.

I guess my 401(K) is going to keep getting hammered for the foreseeable future. Damn, I need more guns.

Comments are closed.

  1. Seattle Outcast

    And yet the keynesian dipshits will tell that we just haven’t “spent enough” to turn things around and that we need to make the rich pay their “fair share”….and now we get the moronic hollywood types calling for “the rich” to be executed when they don’t give up their money…

    Thumb up 0

  2. Section8

    I guess my 401(K) is going to keep getting hammered for the foreseeable future.

    It’s going to keep getting hammered for a long time. Here are the problems.

    1) We don’t innovate like we used to. I mean look at what’s considered a great invention these days. Facebook? Shit, it’s a website, and a fad at that. We need to be making more tangible items, and more than just the iPad or some websites. Of course the red tape to innovate, set up a factory, and make some money is getting more difficult, and that seems it will continue now that we’ve been told if you make it in this world, it was because of the government, not in spite of it, so pay up.

    2) Off shoring is killing us. I used to not have an issue with it, but my opinions of it have changed over the years. I’m all for other countries having the free market to grow internally and create competing companies, but that’s not the case. It’s mostly just sending off jobs, and to some countries like India where US companies have a difficult time, or aren’t allowed to set up shop there as a competitor with the national businesses. It’s mostly take and no give, and the jobs lost are not just the shoe factory anymore.

    3) Let’s face it we’ve been overpaid, which has driven up the price of everything including housing. There’s going to continue to be a reset in pay as people get laid off and rehired for half price. Since we don’t innovate anymore, and if we do it ends up overseas in a flash, it’s just recycled jobs.

    4) There’s going to be a big reset in assets. Housing is going nowhere for a long time as we’re now so screwed that even a 20% down payment is considered harsh by the banks even though that used to be the standard.

    In short, there is no catalyst to get us out, and I doubt there will be one for quite some time regardless of who is in charge. They’ll keep playing with the monetary system, and try all kinds of tricks here and there for a quick fix, but at the end of the day new inventions and keeping the resulting jobs in house from those are what keeps a country growing, and it looks like there’s not going to be any of that for quite some time.

    Thumb up 0