America is showing one horrible number after the other at the moment. Things seem to unravel quickly across the pond.
U.S. lenders took over 102,134 properties last month, RealtyTrac Inc. reports say. That was the highest monthly tally since the company began. At the same time Bank of America have announced that it was suspending all foreclosure proceedings, presumably until further notice. Other banks have already suspended foreclosures in a whole truckload of states.
Today the dollar dropped even further after a report showed jobless claims increasing. This at the same time as inflation is gaining speed.
And as a small funny side note trade deficit widened with 8.8% in August which were more than the forecast.
All this when the number of poor people in America is higher than ever before.
The stock market however is going up with The Dow hitting a five-month high…
haha… it’s hard to come up with this stuff…
I am getting popcorn for this one. I suggest you do the same.
Haha it seems you aren't getting ANY comments, period. Loser.
ReplyDeleteOh no, I don't? Shocks, that is my main goal... how will I survive...
ReplyDeleteTo fu
ReplyDeleteI read this blog daily and I don´t comment. Why do you read it?
Once again you mention that the dollar is loosing value. But you fail to understand that a cheapar dollar means cheapar US manuactured products, which leads to decrease in unemployment.
ReplyDeleteGet help, dude! :))
Do you know how many countries that have tried this “miracle drug” before? And I am not only talking about the most obvious failures of Weimar and Zimbabwe. Do you? It has never worked, never. Not even once. You can check that fact for yourself, history books are filled with ‘em.
ReplyDeleteBut okay, let’s ignore the overwhelming debts, ignore the trillions of dollars in housing- and real-estate scams, ignore the tens of trillions in derivatives, ignore that the only “good” number in the American economy for a decade have been military spending, ignore that 75% of US economy is consumer spending, and lets also ignore what history teach us. Let’s only look at the dollar and QE.
China owns almost two trillion in US debt (dollar), Japan, Saudi, and European countries also have a trillion plus each. IF the FED continues on this path, what do you think these countries will do with their dollars? Keep them or sell them? The answer to this rhetorical question is that they will sell them which will not only be the end for the Dollar as reserve currency, it will be the end of the dollar, period.
But okay, let’s say that doesn’t happen either.
They are printing shitloads of money which will rapidly increase prices hence make things more expensive, is that something that helps the economy and jobs? The ones getting this money first are banks and financial institutes, the ones getting it last are average Joes and during that time the money have lost in value many times over. Is that something that helps people to get a job? If the currency looses in value and interest rates are kept at this level savings will get utterly destroyed and people with fixed or low income are getting poorer by the minute, is that something that you think creates jobs?
An economy is a vibrant and highly dynamic entity; you cannot throw tons of monopoly money into the mix and think that jobs come as a bonus. You are deluded and fooled. Sadly you’re not alone.
Wanted Fu to know that I rarely comment, but love this blog and check it at least weekly!!
ReplyDelete