Thadeus Thornton III

Preview from Europe: Stocks Go Cliff Diving Again

I guess I would be a little more broad minded here. Not ALL of the people you label here fall into this category. Like I said, some people need to depend on the "social" contract" of the people advising them. And they should be able to. After all, most employers won't offer a defined pension anymore. So an employee is left plunking his/her money into whatever 401K plans that are offered. They have no choice. If a person is a machinist, a nurse, a trash collector, factory worker, etc: they have no choice and somehow are supposed "bone up" on financial terms and the socio-political things that affect the markets? Besides, I didn't triple or quadruple my gains in any of my investments. And neither did anyone else I know. Most people lost any gains of "irrational exuberance" in the stock market "raid" of 1999 - 2001. It took me almost six yeas to get back to even.

Preview from Europe: Stocks Go Cliff Diving Again

The Daily show is worth the read here. Ain't it the truth! I used to watch CNBC. How can these guys say they are experts when they didn't see the stock market sell off and raiding (1999 - 2001) that had been pumped up with all the poor "home owner" individuals that pumped it up with money in their 401K and 401B plans? And now this takes the cake. More "Expert" advice from CNBC gurus and the peopel they pick to air their expert opinions. Rubbish. . . sadly rubbish.The "Big Boys" will whine and scream about being taxed too much, but sure are there when "tax payers" money is being offered!

That being said, many people also put their trust into the "social contracts" that the finance, real estate, investment, and other so called professionals promote and sell. Where was truth in advertising and sound advice from the financial gurus? It couldn't be Madison Ave. advertising and the desire for investment bankers to get big bonuses here that might be a little more at fault also, could it? Then lets blame the home owner, individual, and his/her irresponsibility or ignorance. I don't think so. IMO.

The Economy, And Why It's Taking So Long to Fix It

I think these writers are capitalizing on this "frenzied" economic climate we currently have and taking advantage of us. They probably don't have a real job , so they collect information (not their own) and re-post it here on Alpha. Oh! And also put links in to sites they make more money on for still more fear mongering articles, critical of everyone but themselves.

The Economy, And Why It's Taking So Long to Fix It

---> "The Housing Bust. We know now that we’ve been living through a classic bubble in the housing market, where frenzied buyers sensing a rush bid prices far higher than they should have gone. So the market crashed. And now everybody wants to know when home prices will stop falling. " <---

Yes, well, it couldn't have been the Real estate and banking crowd that encouraged this kind of irrational exuberance could it? Granted, I wouldn't have paid $560,000 for a 1400 sq/ft, 1960s ranch home in San Diego. But people DID have to live somewhere. Where were the regulations to rein in this kind of risky loan making and home valuation?

The Economy, And Why It's Taking So Long to Fix It

Yes, what I mostly get out of this IS: It's for tax PAYERS to pay taxes. Tax payers being mostly wage earners of the fiefdom. And it's for financial gurus, investment bankers, and real estate moguls to get free money that the tax payers gave for their hard work. It's always the Big Boys who squeal like pigs about PAYING taxes, but manage to always be more on the receiving end of tax dollars.
Collect huge and obscene salaries and then make sure they all still get bonuses at taxpayers expense. Use TARP money to buy up smaller banks, then when the dust settles, my oh my will they have more to play with!!

Recent Policy Decisions and a Greater Depression

One thing is for sure. This economic crisis is on it's way to provide a so called "level playing field" for everyone. Back in 1999 to 2000 when all the rich Big Boys raided the pockets of plain folks who pumped up the stock market with their 401K plan contributions, the Big Boys walked away with billions collectively and now got burned by their own greed in real estate speculation and "creative financial products".
No worries for them though. You can bet there are plenty of Big Boys out there creating "contracting" companies to get their hands on President Obama's stimulus money. That's a big reason why things look bad. Little or no checks or balances to fence off unscrupulous opportunists who claim to be making lemon aid out of lemons; but are really out to line their pockets with public money and provide little , if anything, for it. Don't believe it? Look at Haliburton and how they cashed in on "support" infrastructure for the wars in Afghanistan and Iraq. $100 to do a soldiers laundry. $1,000 a day per diem charges to Uncle Sam for "contract agents".
Well, maybe we've learned by now. Then again . . .