jimithegreek: December 2007

ITS THE ECONOMY STUPID

WHO ARE THESE THEY PEOPLE?

I AM AMAZED AT THESE THEY PEOPLE WHO CLAIM THE ECONOMY IS DOING WELL, EXPANDING, & GROWING ETC! THESE MUST BE WALL STREET PUNDITS AND POLITICIANS WHO EXIST IN SOME OTHER PARALLEL UNIVERSE. IN THIS WORLD THEY ARE SO INSULATED FROM REALITY, THAT ITS PAINFULLY SILLY! THEY HAVE NO IDEA AND THEY HAVE NO COMMON SENSE! HERE ARE SOME FACTS & INFORMATION FOR THE EVERYDAY MAN

THEY SAY UNEMPLOYMENT IS UP TO 4.7 %. I SAY IF YOU ARE +50 IT IS CLOSER TO 15%

THEY SAY THE HOUSING / SUB PRIME MORTGAGE MESS WILL COST +$50 BILLION. I SAY IT WILL GO OVER 500 BILLION AND THEN SOME. WHERE HAS ALL THIS MONEY GONE? SOUNDS LIKE THE BANKS AND WALL STREET DID THE OLD PONZI SCHEME TO EACH OTHER!! OUR GOOD GOVERNMENT & N YOU JOHN Q TAXPAYER WILL END UP FOOTING THE BILL FOR THIS ONE.

THEY SAY WE ARE WINNING THE WARS IN IRAQ/AFGHANISTAN AT A COST OF $3 BILLION PER WEEK !! ALREADY OVER ONE TRILLION USD. I SAY, ARE YOU FRIGGIN KIDDING ME!!! FOR THAT KIND OF MONEY I COULD SECURE OUR BORDERS & TIGHTEN UP OUR CUSTOMS / IMMIGRATION SYSTEM. WHILE I AM AT IT THE EXTRA MONEY WOULD GO TO FIX THE HEALTH CARE MESS & SOCIAL SECURITY!

THE US DOLLAR IS AT AN ALL TIME LOW. THEY SAY, IT IS GOOD FOR OUR EXPORTS. I SAY, WHAT FRIGGIN EXPORTS? WHAT DO YOU SEE THAT IS MADE IN THE USA? THE BOEING JETS ACCOUNT FOR A HUGE CHUNK OF OUR EXPORTS. YOU SHOULD SEE ALL THE EUROPEANS AND ASIANS COMING TO NYC TO BUY EXPENSIVE USELESS STUFF! OF COURSE IF YOU WANT TO GO ON VACATION TO EUROPE, YOU BETTER GET A SECOND MORTGAGE TO PAY FOR IT. WAIT THERE IS A CREDIT CRUNCH, YOU CANT GET A SECOND MORTGAGE. WHO WANTS TO GO TO EUROPE ANYWAY, WHEN YOU CAN GO TO FLORIDA AND BUY A CONDO FOR ABOUT THE SAME PRICE AS A MONTH'S HOTEL STAY IN LONDON OR PARIS

"OIL THAT IS, BLACK GOLD, TEXAS TEA"

OIL AT ALMOST $100 PER BARREL, GOING TO $125 EASY. THEY SAY IT IS SUPPLY & DEMAND. I SAY, HEY YOU WITH THAR BIG OLD ESCALADE OR NAVIGATOR, HOW ABOUT $100 TO FILL UP YOUR TANK HALF WAY! FUNNY HOW WE HAVE MORE SOLAR PANELS GENERATING ENERGY IN NEW YORK THAN THEY DO IN ARIZONA OR NEVADA? WHATS UP WITH THAT?

THEY SAY FIVE YEAR STOCK MARKET BULL RUN STILL HAS LEGS. I SAY WAKE, UP ITS OVER! IT DOES NOT MATTER WHAT HAPPENS. THE WALL STREET MUCKY MUCKS WILL ALWAYS MAKE THEIR MOOLAH. LOOK AT ALL THESE BIG BANKS, BROKERAGE & OTHER FINANCIAL FIRMS GOING DOWN THE PROVERBIAL TOILET, WHILE THEIR EXECS GET FIRED, RESIGN OR WALK AWAY WITH MILLIONS! ALL THIS WHILE YOUR AVERAGE WORKING CLASS PERSON GETS FIRED AND WALKS AWAY WITH NADA!

THEY SAY THERE IS A A 20% TO 50% CHANCE OF A RECESSION IN 2008? I SAY, WHO MAKES THESE ODDS UP? IF IT WAS THE BOYS IN VEGAS, I WOULD LISTEN TO THEM. THOSE ODDS MAKERS KNOW WHAT THEY ARE DOING.

THEY SAY CITIBANK IS TOO BIG TO FAIL(MEANS GOVT SHOULD STEP INTO SAVE THEM). I SAY, CITIBANK IS GOING TO CHANGE IT'S NAME TO SILLYBANK!! THEY TOOK THOSE SILLY 10-15 BILLION DOLLAR WRITE DOWNS. IT'S OKAY THOUGH BECAUSE THE MIDDLE EAST GOVERNMENT FUNDS (AKA SHEIK'S SLUSH FUNDS) ARE INVESTING CAPITAL IN OUR BANKS. FUNNY, A YEAR OR TWO AGO THEY SAID WE WOULD NOT LET THEM BUY OUR U.S. SEA PORTS (WHICH ARE MAJORITY OWNED BY FOREIGN ENTITIES ANYWAY) BECAUSE OF SECURITY REASONS. NOW IT IS OK TO LET THEM INTO OUR BIGGEST AND MOST ENTRENCHED FINANCIAL INSTITUTIONS!!! BUT THEY ARE JUST DOING THEIR PART SO WE DON'T LET THE TERRORISTS WIN!

ONE OF THE MOST TELLING SIGNS OF THE ECONOMY IS THE NEW YORK TIMES SUNDAY HELP WANTED SECTION. THIS USED TO BE A SECTION OF APPROX 25-50 PAGES UNTO ITSELF. NOW IT IS MERELY AN ADD ON OF ABOUT 8 - 10 PAGES TO THE BIZ SECTION. THEY SAY IT IS BECAUSE ALL THE ADDS ARE ONLINE? I SAY IT IS BECAUSE THERE AIN'T THAT MANY JOBS!

ANOTHER TELLING SIGN IS JUST TO WALK AROUND LOCAL NEIGHBORHOODS AND TALK TO THE LOCAL MERCHANTS & SHOPKEEPERS. I NOTICE MORE AND MORE EMPTY STOREFRONTS AND FOR RENT SIGNS IN THE PAST FEW MONTHS THAN I CAN RECALL IN MANY YEARS. MOST PEOPLE LAMENT THAT SHOPPERS JUST ARE NOT SPENDING LIKE THEY USED TO. PEOPLE ARE BECOMING MORE CONSERVATIVE (TIGHT) WITH THEIR MONEY THAN EVER. THE KICKER & THE SURE SIGN IS THAT BARBIE SALES ARE DOWN! (DID YOU GET YOUR BARBIE TITANIC DOLL THIS YEAR?)

LET US HOPE THAT THEY (THE POLITICIANS) DO SOMETHING SOONER THAN LATER! I SAY WE SHOULD BE PREPARED FOR THE ECONOMIC SLOWDOWN AHEAD BUT I HAVE A FEELING THAT THINGS WILL STILL BE GREAT IN LATE 2008!!!!!