Are they really going to reappoint Ben Bernanke

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?

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

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.