texasgolfer

Financial Stocks Are Ready for Their Pullback

"sand castles of purchasing power" sounds like a Danielle Steele novel.

Banking Sector: Band-Aids Just Won't Do It

there is always someone willing to pay to buy something that may not have the value specified. the government supports home ownership in every form to allow creation of a tax base for states and local governments and as r e problems arise and foreclosures increase than tax revenue declines and the need for more taxpayers becomes apparent. just look at the bail out bill closely and see how government benefits, if banks take the write downs...a big if. lets not forget about other debt: builder construction loans, home equity loans, purchase money home improvement loans, credit cards(see amex), automobile loans/leases (see chrysler), student loans, etc.
If banks can convince everyone that only the foreclosures are bad and everything else is ok, then everyone will be willing to accept the market declines are not as bad as thought and maybe I should buy. The new paper will replace the bad paper, securitize it and sell it and business as usual. Oh yes, since tax revenue has declined we (Fed/States) will need to raise taxes to replace the lost tax income
but probably only temporarily (right). please name one government program that is not a ponzi scheme.

U.S. Credit Card Industry Moving into Uncharted Territory

is this Moody's report before or after the computer glitch?

Stay Clear of Traditional Asset Classes

Because oil is at a "high" doesn't mean it can't/won't go higher. If the current cycle of reducing spending continues and asset values continue to decline (I have not see anyone saying they probably won't) then the government will not hesitate to raise taxes since their enlightenment must survive even at the expense of the taxpayers. Two defeatocratic candidates say they will raise taxes by not extending the tax cuts and possibly increase taxes in other "financial impact" areas including capital gain (we need change).
Can we grow our way out of the deficits plus cover rising expense from boomer retirement and medicad/soc security cost? Maybe but probably not with our service employment based on junk food and unskilled mom/pop business, call centers, tele marketing and landscaping contractors. High school grad rates are down and we seem to be creating a society of slightly educated and somewhat educated. I teach at a community college and rarely can my classes handle reading for comprehension and 6/7th grade basic math or understand percentages. My son's speaker at his coming college graduation is a life long criminal with a triple murder conviction that was up held by a second trial and he was ultimately released as the prosecutor did want a 3rd trial after 22 years. This is suppose to inspire learning? Drive and observe many of our favorite cities and cast a very critical eye as to what progress you see. Recent employment gains seem to be government sponsored not business generated. Many public service workers seen to work for their early retirement benefits and view labor negotiations as a type of future lottery for their benefit. While I can see the writer being called too negative, I never see anyone providing a achievable solution to the areas addressed. If seems we are giving away money to home buyers are are not capable of owning a home without massive government assistance from our tax dollars probably just to keep some money from R E taxes flowing to the
state. Most government statistics are cooked and even wall street
knows not to believe them or rely on them for accuracy. If our elected "leaders" lie and we know it, they we have no reason to believe or support government. We can not even agree to an official English language and while we are allegedly trying to stop illegal immigration we have sanctuary cities not enforcing the laws.
I am a Vietnam vet that fought on the rivers for the LBJ lie and I see many more dark clouds than beams of sunlight. Just seems like no one wants to lead or maybe they lack the capability and we as a nation may be just clearing our zenith and heading down. My favorite anecdotal example of change is being the only English speaker in the local post offices in Southern California including the employees. We need solutions, not the B S from Congress.