poor&unemployed

Banks: The Final Countdown?

Obama's plan is to take the money from the RICH and give it to POOR. He has the perfect opportunity and the support from the people.

He will call it a boneheaded mistake and ask the country to move on. Poorer the country gets, more popular he will be. Look at Cuba, Venezuela, and Bolivia to name few. People live on HOPE and politicians thrive on promising the CHANGE and giving the HOPE.

We are drunk and want to drink more. It feels good. Unfortunately, OBAMA administration is likely to give us that last drink, which is going to knock us down for next 12 hours and when we wake up with a massive headache, we will be looking for that strong coffee, a hot shower and HOPE to make it through the day at work without the boss noticing our hangover.

You can run but you can't hide! By the time it is over, we will see, DJ-30 at 4000, SP-500 at about 450, Prime rate at 12-15% and unemployment of about 15-18%.

But if you think this is a bad projection - we will still be the wealthiest country in the world. You don’t want to visualize the conditions in the third world!

Unless of course, if we decide to take the bull by the horn – get the government out of business, stop the bailouts, let the free markets decide the interest rates and credit conditions, let the markets drop back to 90’s and start over …………...

Life wasn’t so bad in 90’s.

Home Prices May Be Nearing Bottom, Bank Equities to Follow?

How did you come to that conclusion? Crystal Ball maybe?

What would you call a stable rate of return on the traditional housing with 20% down?

Using Case Schiller index - what kind of appreciation would you justify since 2000?

If present level of index is sustainable, why no one is buying?

Banks Not Lending Anymore? Simply Untrue

Remember, numbers don’t lie but people do. For some reason too many people seem to want to blame the banks for more than their fair share, and that is saying a lot given that these institutions don’t exactly have impressive operating track records recently.

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When the doomsayers were screaming HOUSING BUBBLE, many many many highly educated and powerful people claimed otherwise showing the numbers. Has anyone held them accountable?

Similar was the case with the oil price at $150 / bbl.

You mean to say that the numbers used by the banks just a year ago were correct and we are now living in a parallel universe with all these losses? Or it is just a media conspiracy and in reality the economy is strong?

Wasn't BoA considered safe bank few months ago?

Our economy depends on TRUST not bailouts. If you take a borrow, you pay it back with interest and on time. It depends on the FICO scores and not on cheerleader.