Is it just me or is it odd that all the Democrats are supporting Ben Bernanke and all of the Republicans are opposing him.
Wasn't he nominated by the Republicans and at the helm when all of this mess was being created. Logic would tell you that the Democrats would want to get rid of this guy not the Republicans.
To me this is a perfect example of why none of the politicians can be trusted. They are a bunch of sheep who follow the party leaders. The party leaders just follow what the money people in big business and on Wall Street tell them to do. So really it doesn't matter who is running the ship because they all act a great game but will do whatever big business tells them to do.
In this crisis big business is saying save the banks. And they are at the expense of the average consumer. So the banks are able to charge you high rates and fees and in the long run they will just keep stealing your money. Why ,because they tell the politicians what to do.
The government, the big banks,the doctors the pharmaceutical companies and insurance companies and big oil and of course Wall Street are all in this together. There goal is to take every penny they can for the average person. There plans are working and the average Joe is getting poorer every day
As for Mr.Bernanke he is in charge of trying to maximize the profits and minimize the losses for big business. He could care less about the average person. He has helped to create the worst economy for consumers that most of us have ever scene in our lives.
His reward is that he gets to do this for 4 more years. Our reward is that we get the privilege of paying to clean up the mess and make big business more money. I thought we voted for change so why is nothing changing?
Thursday, December 17, 2009
Saturday, December 12, 2009
Pick ups in the economy?? Don't be to sure
Stocks still are trending higher as the economy show signs of at least stabilizing at current levels. Layoffs,at least with larger companies are slowing and production seems to be picking up. Even with these small signs of improvement, in the longer term economic growth will be challenging because of several factors.
1.Loss of value in real estate that is most likely not going to return within the next 5 years.
2 Persistent Unemployment
3. Persist ant unemployment
4. Underfunded Consumer retirement plans
5. under funded pension funds
6. High fixed costs for health care
7. Excessive funds spent on overseas military adventures
8. In creased price for gas and oil
9. Upward pressure for state taxes
10 Upward pressure on ;local taxes
With these types of issues still confronting us in 2010 I don't see how the economy will turnaround.
The administration will be challenged by these and many other issues in he coming year. The president has now had almost a year on the job is he ready for the next 3 years?
With this in minds rates on mortgages still should stay low we will discuss this in more detail in future posts
1.Loss of value in real estate that is most likely not going to return within the next 5 years.
2 Persistent Unemployment
3. Persist ant unemployment
4. Underfunded Consumer retirement plans
5. under funded pension funds
6. High fixed costs for health care
7. Excessive funds spent on overseas military adventures
8. In creased price for gas and oil
9. Upward pressure for state taxes
10 Upward pressure on ;local taxes
With these types of issues still confronting us in 2010 I don't see how the economy will turnaround.
The administration will be challenged by these and many other issues in he coming year. The president has now had almost a year on the job is he ready for the next 3 years?
With this in minds rates on mortgages still should stay low we will discuss this in more detail in future posts
Sunday, December 6, 2009
The Economy is still in a shambles 12/06/2009
Rates edged higher of late and commodity and stock prices have continued to soar. The market has been buoyed by the hope that the economy is turning around. Slivers of hope from the employment front have perpetuated the rally as firings seem to have slowed somewhat as stocks resumed the upward trend. Pundits are saying the economy is rebounding
I still fail to see the major improvement. With the 3 month Treasury at .04% there is still a lot of scared money in the market. Commercial real estate seems poised to make it's appearance on the banks problem list. Banks are scrambling to raise capital now that stock prices are climbing once again suckering the public into funding their stupidity. With oil prices still high and consumers with only perfect credit able to obtain financing we are in for a long hall before people can say that the economy is strong.
Obama's call to increase forces in Afghanistan and his continued efforts to support banks and other financial companies show that in his one year as president he has done little to help the working class and basically has continued the failed policies of the Bush administration. His support of Fed Chairman Ben "The Bankers Friend" Bernanke" shows that he is satisfied with the status quo and will only jaw bone about true change. In our view at this point Obama has shown great hope with very little to show.
I continue to see suffering on daily basis with people working more jobs and longer hours for less pay. If you happen to be fortunate and have kept your job you are in decent shape. If you lose your job be prepared to spend months looking for work. Be prepared to settle for a lower paying job and be ready to deplete your savings to survive. This unfortunately is the new American Way.
To this point almost 2 years into the recession no help has been given to small business. All of the stimulus plans have been given to major corporations. When there are meetings at the White House we only here from the major corporate heads we never hear from the average person who is suffering from job loss wealth destruction and debt burdens caused by the increased expenses of daily life.
Things are still falling apart at the seems in our country and all we do is look on and hope that things are going to get better.
When will the administration see that banking and the financial markets as we know them have failed and that the only way to get the markets stabilized is to help people get back on their feet not help bankers get back on their feet so they can continue to rip-off the masses. Again programs are needed to help the lower to middle class people get themselves back on their feet not the the bankers.
I still fail to see the major improvement. With the 3 month Treasury at .04% there is still a lot of scared money in the market. Commercial real estate seems poised to make it's appearance on the banks problem list. Banks are scrambling to raise capital now that stock prices are climbing once again suckering the public into funding their stupidity. With oil prices still high and consumers with only perfect credit able to obtain financing we are in for a long hall before people can say that the economy is strong.
Obama's call to increase forces in Afghanistan and his continued efforts to support banks and other financial companies show that in his one year as president he has done little to help the working class and basically has continued the failed policies of the Bush administration. His support of Fed Chairman Ben "The Bankers Friend" Bernanke" shows that he is satisfied with the status quo and will only jaw bone about true change. In our view at this point Obama has shown great hope with very little to show.
I continue to see suffering on daily basis with people working more jobs and longer hours for less pay. If you happen to be fortunate and have kept your job you are in decent shape. If you lose your job be prepared to spend months looking for work. Be prepared to settle for a lower paying job and be ready to deplete your savings to survive. This unfortunately is the new American Way.
To this point almost 2 years into the recession no help has been given to small business. All of the stimulus plans have been given to major corporations. When there are meetings at the White House we only here from the major corporate heads we never hear from the average person who is suffering from job loss wealth destruction and debt burdens caused by the increased expenses of daily life.
Things are still falling apart at the seems in our country and all we do is look on and hope that things are going to get better.
When will the administration see that banking and the financial markets as we know them have failed and that the only way to get the markets stabilized is to help people get back on their feet not help bankers get back on their feet so they can continue to rip-off the masses. Again programs are needed to help the lower to middle class people get themselves back on their feet not the the bankers.
Sunday, November 8, 2009
Health care passes The House 11/08/2009
Now that the house has passed the Health care reform bill we are one step closer to having universal health care. The big question here is whether this is good or bad. It is obvious that all people deserve some form of health care. The question that truly needs to be decided is what quality of care do they deserve to get for what they can pay.
To me the biggest issue is the cost in delivering services. There is no competition in the services that are delivered and no price discovery at the time of service. To me this is what needs to be reformed. Those subtle changes would to understand the costs of the systems and police the doctors themselves so they don't become victims of unnecessary tests that end up raising the costs of the care.
To me this is why we need to have some sort of government option. By having a government option we will have a yardstick to measure private services against. If the private sector does a better more affordable job then people will naturally go for the more affordable option. If the government option is better then these companies are obviously in the wrong business.
If the insurance companies, doctors and pharmaceutical companies were all so great they would not be squealing so loudly about this and would embrace the challenge. They yell because the scam they have been running for years is starting to be exposed and their profits will begin to diminish.
Obama need to call out the scam artists that have been running amok and more clearly show how we will all save money with true reform to the system.
http://www.barickobama.com
To me the biggest issue is the cost in delivering services. There is no competition in the services that are delivered and no price discovery at the time of service. To me this is what needs to be reformed. Those subtle changes would to understand the costs of the systems and police the doctors themselves so they don't become victims of unnecessary tests that end up raising the costs of the care.
To me this is why we need to have some sort of government option. By having a government option we will have a yardstick to measure private services against. If the private sector does a better more affordable job then people will naturally go for the more affordable option. If the government option is better then these companies are obviously in the wrong business.
If the insurance companies, doctors and pharmaceutical companies were all so great they would not be squealing so loudly about this and would embrace the challenge. They yell because the scam they have been running for years is starting to be exposed and their profits will begin to diminish.
Obama need to call out the scam artists that have been running amok and more clearly show how we will all save money with true reform to the system.
http://www.barickobama.com
Thursday, November 5, 2009
Election Results
As we predicted the democrats in office faced the wrath of the voters and lost both governors seats in the election. Both candidates were resoundingly beaten. Low voter turn out by the younger voters contributed to the losses.
The people who did vote seemed to have economic issues on their mind. In New Jersey they also sent a message that we are tired of the same old politics used in running the state economy. Corzine's overwhelmingly strong ties to Wall street that were supposed to help New Jersey residents never materialized and he was voted out. NJ must now face the unknown abilities of Chris Christie in running a divided government.
The message Obama should get from this is that it is his economy now. The honeymoon is over. He has made a tactical error by sidling with wall street in the economic bailout and done very little at this point to help main street. The economy is still suffering from the following issues:
1. Record high budget deficits
2. Still falling housing prices
3. Rising health care costs
4. In creasing costs for education
5. Still climbing unemployment rates
6. Rising local tax rates
7. Diminished ability to fund retirement with 401k and Ira funds
8. Burned of the continues bailout of financial institutions.
9. Have burdens facing small business owners in starting and keeping businesses afloat
10. War in Iraq and Afghanistan
We will look at these issue more in the weeks to come
http://www.barickobama.com
The people who did vote seemed to have economic issues on their mind. In New Jersey they also sent a message that we are tired of the same old politics used in running the state economy. Corzine's overwhelmingly strong ties to Wall street that were supposed to help New Jersey residents never materialized and he was voted out. NJ must now face the unknown abilities of Chris Christie in running a divided government.
The message Obama should get from this is that it is his economy now. The honeymoon is over. He has made a tactical error by sidling with wall street in the economic bailout and done very little at this point to help main street. The economy is still suffering from the following issues:
1. Record high budget deficits
2. Still falling housing prices
3. Rising health care costs
4. In creasing costs for education
5. Still climbing unemployment rates
6. Rising local tax rates
7. Diminished ability to fund retirement with 401k and Ira funds
8. Burned of the continues bailout of financial institutions.
9. Have burdens facing small business owners in starting and keeping businesses afloat
10. War in Iraq and Afghanistan
We will look at these issue more in the weeks to come
http://www.barickobama.com
Sunday, October 11, 2009
Obama wins Nobel Peace Prize
In what some would view as an international mandate for his current practices President Obama was named winner of the Prestigious Nobel Peace Prize. The international community is clearly pleased with his efforts thus far.
Obama continues to try it pursue his agenda both in the US and Internationally. He is being doggedhowever by a persistently bad economy.
In our view he needs to continue to push for Health care reform, more aggressively invest in the US infrastructure and do more to help the lower , lower middle and middle classes in the country. Also small business is dying. Help is desperately needed for these groups.
He must come to terms with the fact that the banks are going to fail for the most part and start to more aggressively get involved in restructuring the banking system. He must let some of the big banks fail so we can put these issues behind us.
He has been standing tall so far but is he making progress?
Obama continues to try it pursue his agenda both in the US and Internationally. He is being doggedhowever by a persistently bad economy.
In our view he needs to continue to push for Health care reform, more aggressively invest in the US infrastructure and do more to help the lower , lower middle and middle classes in the country. Also small business is dying. Help is desperately needed for these groups.
He must come to terms with the fact that the banks are going to fail for the most part and start to more aggressively get involved in restructuring the banking system. He must let some of the big banks fail so we can put these issues behind us.
He has been standing tall so far but is he making progress?
Wednesday, October 7, 2009
November Elections
November Elections (10/07/2009)
The first real electoral test for the Obama administration will occur in November as governors seats in New Jersey and Virginia will be up for grabs.
The real test will be in New jersey where Goldman Sachs alum John Corzine faces stiff competition. The president has campaigned for Corzine and of course the Wall street elite money will be backing the governor.
NJ residents who suffer from the highest property taxes in the country may say that they have had enough of the politically connected Wall street types and vote Corzine put.
This would be a message to Obama that maybe he should stop being so cozy with Wall street and start helping main street.
This right will say that this is a total repudiation of the Obama mandate. This to me is more of a pull by the more central democrats and independents sating they are tired of business as usual and that people will be held accountable for doing a bad job even if it means putting a Republican in office.
That will be the dilemma for New Jersey voters. After what the republicans did to the country for eight years would they be willing to put any republican back in office with the fire still raging from the damage they did?
IF they do times may be rough for President Obama.
Click below to return to our main site
http://www.barickobama.com
The first real electoral test for the Obama administration will occur in November as governors seats in New Jersey and Virginia will be up for grabs.
The real test will be in New jersey where Goldman Sachs alum John Corzine faces stiff competition. The president has campaigned for Corzine and of course the Wall street elite money will be backing the governor.
NJ residents who suffer from the highest property taxes in the country may say that they have had enough of the politically connected Wall street types and vote Corzine put.
This would be a message to Obama that maybe he should stop being so cozy with Wall street and start helping main street.
This right will say that this is a total repudiation of the Obama mandate. This to me is more of a pull by the more central democrats and independents sating they are tired of business as usual and that people will be held accountable for doing a bad job even if it means putting a Republican in office.
That will be the dilemma for New Jersey voters. After what the republicans did to the country for eight years would they be willing to put any republican back in office with the fire still raging from the damage they did?
IF they do times may be rough for President Obama.
Click below to return to our main site
http://www.barickobama.com
Monday, October 5, 2009
Unemployment issues
When will Unemployment Stop Rising? (10/05/2009)
The Bloomberg article below discusses the fact that the economy will continue the face difficulty with the continued rising unemployment.
Unemployment Rising to 9.8% Means More Economic Pain as Consumption Falls
Our position continues to be that the consumer is be systematically wiped out by the events that took place and are continuing to take place in the economy.
Retirement funds are being depleted equity that people had in their homes is falling. People who need help[ with refinancing debts are being shunned by the banks that are being bailed out by the Government.
Real disposable income is being reduced and people are being forced to repay debts that with these reduced rates.
I see no proposals that are available to help the average person being proposed.
The Obama administration ran on a platform of helping individuals. Where is the help?
Click below to return to main site
http://www.barickobama.com
The Bloomberg article below discusses the fact that the economy will continue the face difficulty with the continued rising unemployment.
Unemployment Rising to 9.8% Means More Economic Pain as Consumption Falls
Our position continues to be that the consumer is be systematically wiped out by the events that took place and are continuing to take place in the economy.
Retirement funds are being depleted equity that people had in their homes is falling. People who need help[ with refinancing debts are being shunned by the banks that are being bailed out by the Government.
Real disposable income is being reduced and people are being forced to repay debts that with these reduced rates.
I see no proposals that are available to help the average person being proposed.
The Obama administration ran on a platform of helping individuals. Where is the help?
Click below to return to main site
http://www.barickobama.com
Sunday, October 4, 2009
Soaring mortgage delinquency rates and continued high and growing unemployment rates signal long term economic problems that the our Federal reserve leaders are continuing to ignore.
The Fed has continued to under estimate the depth of the trouble that is facing the average consumer. There are record levels of bankruptcy filings. Record levels of continuing unemployment claims and persistently weaker housing prices. These statics to meet indicate that there will be long term weakness in the economy extending deep in the first term of the Obama Administration.
The Obama administration does not seem to care much about these issues the seem content to let Chairman Bernanke continue to call the shots on the economy. He has so often underestimated the magnitude of the problems yet the administration lets him continue to take the lead without question.
Obama needs to revisit this soon before we start to have soup kitchens again in our country
Visit the link below for more about our site
http://www.barickobama.com
The Fed has continued to under estimate the depth of the trouble that is facing the average consumer. There are record levels of bankruptcy filings. Record levels of continuing unemployment claims and persistently weaker housing prices. These statics to meet indicate that there will be long term weakness in the economy extending deep in the first term of the Obama Administration.
The Obama administration does not seem to care much about these issues the seem content to let Chairman Bernanke continue to call the shots on the economy. He has so often underestimated the magnitude of the problems yet the administration lets him continue to take the lead without question.
Obama needs to revisit this soon before we start to have soup kitchens again in our country
Visit the link below for more about our site
http://www.barickobama.com
Subscribe to:
Posts (Atom)