johnthebear

Financials and Retail: Not as Dire as They Seem

Valuking, so where am I wrong? I am not a slave to the media and the administration that wants to put lipstick on a pig. It is the truth that hurts so bad.

Sorry about that, but facts speak for them selves, regardless of political spin.

Financials and Retail: Not as Dire as They Seem

It would nice if Goldy was alive and well, but she is dead. The banks have no money to finance buyers of all those foreclosed homes. Remember, it takes new loans to enable buyers to those homes. Without new buyers, the housing market cannot recover.

The US treasury simply does not have the money sitting around to finance a home for everyone who wants one. Those who lost their homes are now homeless, looking for an apartment to rent.

Also, the same real estate bubble we have had also exist in England, Ireland, Span, China and many other countries around the world. Lets face it the writedowns mean the money is lost.... gone, never to return. And the 7 trillion already lost in the stock markets all over the world will not recover enough to repay those who lost their wealth. So, were does the worlds wealth end up? The oil exporting countries. They have the wealth, not us. They are buying into our financials for a reason.

Next, elect Obama be president and you can start praying with the koran, just like the one he used when he was sworn in to the Senate. Tough to be a prophet.