Tuesday, May 08, 2007

Longest Bull Run in 80 Years, remember who was in Charge, what Happened, and what's Forecast Today!

The Dow industrials ended at another all-time high Monday, closing with gains for the 24th out of 27 sessions - a streak that matched an 80-year-old record on Wall Street. This will all crash down on us whenb the truth of Bush's control and lies come to light.
"The market improvement we've seen over the last few months is a result of higher-than-expected corporate profits," said Richard Hoyt, portfolio manager at KDV Wealth Management. What a surprise huh? How could you expect anything else in this pro industry, pro corporate, anti average American,environment Bush has created today? http://money.cnn.com/...
Bush has had, micro managed every facet of life today, from the so called war on terror, to those that we call heroes such as Jessica Lynch, to the reasons behind 9/11 and the artificial strength of our economy. This is a Bush created facade of a great economy and only for those able to partake while the elderly and needy have suffered exponentially, so he can follow his new order.
With that said, it is very dangerous that investors are looking beyond any short-term questions about the strength of the economy and focusing on longer-term expectations. You cannot ignore the reality of Bush putting off Trillions in Debt off until he is out of office. You cannot ignore the reality of increasing food stamp use, prohibitive health care costs to the most needy, the loss of core jobs, and the real economy Bush has created. It is another facade!
Knowing that life today is a false creation of Bush's in every respect I ask you to take a step back and remember that amidst all the bragging about this great economy and this being the longest Bull run in 80 years, the reality average Americans face, who was in control 80 years ago and what happened.
Remember, Republican Calvin Coolidge was President from 1923 to 1929 and Republican Herbert Hoover took over in March of 1929. I realize we now have a system in place so there will never be a repeat of the Stock Market Crash of 1929.
However, as Bush brags every friggen day how great his economy is while we are left dumbfounded. People in staggering numbers are losing their homes, ending up on the street, going hungry, unable to receive or afford even basic healthcare, or even satisfy life's basic needs. This is happening in America and I find it overwhelming. Why? In America? When will this facade crash?
I am reminded of "The Second Great Depression By Mike Whitney" He points out The US economy is in danger of a recession that will prove unusually long and severe. By any measure it is in far worse shape than in 2001-02 and the unraveling of the housing bubble is clearly at hand. It seems that the continuous buoyancy of the financial markets is again deluding many people about the gravity of the economic situation. The housing bubble is quickly crashing to earth and hard times are on the way.
There’s no doubt now, that Fed chairman Alan Greenspan’s plan to pump zillions of dollars into the system via "low interest rates" has created the biggest monster-bubble of all time and set the stage for a deep economic retrenchment. Greenspan’s inflationary policies were designed to expand the "wealth gap" and create greater economic polarization between the classes. as you can see, it has. Greenspan's trusted replacement is following suit.
By the time the housing bubble deflates, millions of working class Americans will be left to pay off loans that are considerably higher than the current value of their home. This will inevitably create deeper societal divisions and, very likely, a permanent underclass of mortgage-slaves. With the staggering increase of foreclosures you see just the beginning of Bush's "created" reality.
In real terms, the economy is already in recession. The growth numbers are regularly massaged by the Commerce Department to put a smiley face on an under performing economy. Industrial output continues to flag (In January it was down by another .5%) while millions of good paying factory jobs are being air-mailed to China where labor is a mere fraction of the cost in the USA. Also, automobile inventories are up while factory production is in free fall. Also Toyota has now replaced us as Number one!
Please read the entire report. It is very sobering and the first honest appraisal I have ever seen as to our dire Bush hidden financial future. In closing Mike say's Greenspan has led us sheep-like to the same precipice as the great depression and Bernanke is faithfuly following suit. The economic dilemma we're facing could have been avoided if the expansion of personal credit had been curtailed by prudent monetary policy at the Federal Reserve and if wealth was more evenly distributed as it was in the ‘60's and ‘70's. But that’s not the case; so we're headed for hard times. http://anaverageamericanpatriot.blog.... This is stunning! Be prepared for reality to catch up to all the lies!

James Joiner
Gardner, Ma

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