god bless wall street the greatest marketing machine in world history. the gov't and wall street orchestrated this massive rally to sell $250 billion of stock to recapitalize mostly insolvent co's,pay the gov't back and yet again stick the little guy with the bill who bought hugely inflated stock. the worst thing that ever happened is the mkt skying as no lessons were learned and it means theres much more pain to come.
The whole rally since march was a massive transfer of wealth
- Thread starter jnorty
- Start date
Have to agree, it might feel like a recession to some, but for 90%+ of the population it feels just like it was when the economy was at the height of its game.
I mean people are still buying and leasing $50k+ vehicles like Lexus, Audi and Infiniti, people are still throwing $50k weddings and spending hundreds of dollars at whole foods for just a few bags of groceries, the lines at your local department stores are still crowded as if it is christmas 2005, movie theaters are still packed, there is still an hour wait at the cheesecake factory on weekends.
The credit crisis might have caught a few off guard but the quick fix by bubble ben bernanke has done wonders for the consumer like $4500 towards new cars and $8000 tax credits for people buying houses, I mean this is just great for anyone taking advantage of the system. Foreclosures are being limited by new programs set forth and even people unemployed are getting the chance at 99 weeks of unemployment benefits. This is not a recession but a time for many to understand that no matter how much risk the banks take there is always someone to back them up and help them when times are tough, I mean the printing press and those worthless dollars being thrown around the system is the best fix I have ever seen. Of course the next problem that lies ahead is just another massive inflated credit bubble that when it finally does deflate and sets off even more problems that instead of only waiting 6 months for the recovery, we will have to wait about 8 months.
all a fucking joke!!!!!
remember that.
in every correction equities are transfered from weak hands to strong hands only to be sold back to weak hands when things look clear again. nothing new there.
what makes you state the obvious?
Quote from S2007S:
Have to agree, it might feel like a recession to some, but for 90%+ of the population it feels just like it was when the economy was at the height of its game.
I mean people are still buying and leasing $50k+ vehicles like Lexus, Audi and Infiniti, people are still throwing $50k weddings and spending hundreds of dollars at whole foods for just a few bags of groceries, the lines at your local department stores are still crowded as if it is christmas 2005, movie theaters are still packed, there is still an hour wait at the cheesecake factory on weekends.
The credit crisis might have caught a few off guard but the quick fix by bubble ben bernanke has done wonders for the consumer like $4500 towards new cars and $8000 tax credits for people buying houses, I mean this is just great for anyone taking advantage of the system. Foreclosures are being limited by new programs set forth and even people unemployed are getting the chance at 99 weeks of unemployment benefits. This is not a recession but a time for many to understand that no matter how much risk the banks take there is always someone to back them up and help them when times are tough, I mean the printing press and those worthless dollars being thrown around the system is the best fix I have ever seen. Of course the next problem that lies ahead is just another massive inflated credit bubble that when it finally does deflate and sets off even more problems that instead of only waiting 6 months for the recovery, we will have to wait about 8 months.
all a fucking joke!!!!!
remember that.
What about the unemployment rates?
Who exactly is getting rich here anyways? Except the employees of a few Wall Street firms?
Stock owners are still down 30% or so from Dow 14,000. ie: nowhere near recovered.
Only people who seem to have done okay are US government bond owners and MBS owners. Foreigners, ie: China, Japan, etc., who all got bailed out.
Aside from the Wall Street grifters and thieves, I think you'd be hard pressed to find anyone who is in better financial shape today, than they were two years ago.
People keep talking like the stock market has actually gone up.. Sure, once you've gone down 50%, a 50% gain looks impressive -- but that still means you're only at 75% of what you had from when you began. Hardly a 'recovery' at all.
Stock owners are still down 30% or so from Dow 14,000. ie: nowhere near recovered.
Only people who seem to have done okay are US government bond owners and MBS owners. Foreigners, ie: China, Japan, etc., who all got bailed out.
Aside from the Wall Street grifters and thieves, I think you'd be hard pressed to find anyone who is in better financial shape today, than they were two years ago.
People keep talking like the stock market has actually gone up.. Sure, once you've gone down 50%, a 50% gain looks impressive -- but that still means you're only at 75% of what you had from when you began. Hardly a 'recovery' at all.
there was no volume for the rally at all
