Some say we are headed for a recession - or worse. (Here's a post on it from a great blog.) (And here's what I posted yesterday.) Nobody has been saying we are headed for a recession longer and louder or "mo' wronger" than that jerk Krugman!
Well, if the economy is so bad then why and how did that dinosaur GM just report a profit - their first in two years?!
The most recent event the naysayers have been pointing to in order to make an argument that we are headed for a recession is that secondary mortgage lenders have had high subprime mortgage losses. Well, subprime mortgages are the equivalent of bad junk bonds, and if if some have to be foreclosed on, then nobody should be surprised. Capitalism is a profit-and-loss system, not a "guaranteed profit system." Where the risk is hig the returns might be high, but it ain't necessarily so. HECK: THAT'S WHY THEY CALL STUFF LIKE THIS "JUNK" AND SUBPRIME - it's risky; you can lose your shirt!
YUP: We've hit a correction - a needed one, for sure. And so now, Carl Icahn - one of the world's shrewdest investors - is buying up homebuilding companies which have taken a beating lately. and are a BARGAIN!
And remember: The foreclosure rate is now as high as it was in 2002. OVERALL... things are not as bad now as they were in 2002, and 2002 was not that bad.
So relax. Don't listen to the naysayers. The economy is in great shape.
And another thing, that other number the naysayers are always harping about is all bunk! TRADE DEFICITS DO NOT MATTER, NOT ONE IOTA, NOT ONE PENNY, NOT ONE YUAN.
The figure (what we sell another country versus what we buy from them) is all bunk. When we buy something from china we pay them money and we get goods (which we resell at a profit). this is a even-steven trade: china get the money and we get the goods. We no more have a "deficit" with China then you do with the grocery store; (thanks, Walter Williams for the comparison!).
SO WHY DO WE HEAR ALL THIS NEGATIVITY ABOUT THE ECONOMY? WHY DOES THE MSM MAGNIFY EVERY BLIP AND CORRECTION INTO A "PLUNGE"!"!
Because the Left has a vested interest in knocking down anything Bush and the right do because they want power so they can put us back on the road to serfdom/socialism. So when the market hiccups they scream CRASH! PLUNGE! RECESSION!
Well, if the economy is so bad then why and how did that dinosaur GM just report a profit - their first in two years?!
The most recent event the naysayers have been pointing to in order to make an argument that we are headed for a recession is that secondary mortgage lenders have had high subprime mortgage losses. Well, subprime mortgages are the equivalent of bad junk bonds, and if if some have to be foreclosed on, then nobody should be surprised. Capitalism is a profit-and-loss system, not a "guaranteed profit system." Where the risk is hig the returns might be high, but it ain't necessarily so. HECK: THAT'S WHY THEY CALL STUFF LIKE THIS "JUNK" AND SUBPRIME - it's risky; you can lose your shirt!
YUP: We've hit a correction - a needed one, for sure. And so now, Carl Icahn - one of the world's shrewdest investors - is buying up homebuilding companies which have taken a beating lately. and are a BARGAIN!
And remember: The foreclosure rate is now as high as it was in 2002. OVERALL... things are not as bad now as they were in 2002, and 2002 was not that bad.
So relax. Don't listen to the naysayers. The economy is in great shape.
And another thing, that other number the naysayers are always harping about is all bunk! TRADE DEFICITS DO NOT MATTER, NOT ONE IOTA, NOT ONE PENNY, NOT ONE YUAN.
The figure (what we sell another country versus what we buy from them) is all bunk. When we buy something from china we pay them money and we get goods (which we resell at a profit). this is a even-steven trade: china get the money and we get the goods. We no more have a "deficit" with China then you do with the grocery store; (thanks, Walter Williams for the comparison!).
SO WHY DO WE HEAR ALL THIS NEGATIVITY ABOUT THE ECONOMY? WHY DOES THE MSM MAGNIFY EVERY BLIP AND CORRECTION INTO A "PLUNGE"!"!
Because the Left has a vested interest in knocking down anything Bush and the right do because they want power so they can put us back on the road to serfdom/socialism. So when the market hiccups they scream CRASH! PLUNGE! RECESSION!
It's BS. They are full of it. When the Left screams sell, then BUY!
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