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.