Mikey thinks this $700 billion bailout won't do a thing as they are already asking "where has the $ gone so far?" I saw that coming !
The second installment to the banks will have the same dismal results.
I don't see the foreclosure problem diminishing next year - only getting worse.
Unemployment is really getting to critical levels right now and again I don't see that getting any better next year.
Now the Govt wants to bail out the big 3 auto makers - again bad idea........Them flying in on corp. jets and w/o a plan tells me " they just don't get it ." There is no way the money will even help them do any kind of major turnaround in the short term as people are trying to keep their homes and could not get a loan anyways. Regardless of what kind of car they produce , people cant afford it and it would take YEARS for a new model to come out to the dealers.
To cover all this bailout money the Govt is printing it at record pace. Printing money w/o being able to sell the bonds to cover it will lead to inflation - No doubt.
Combine all this and add in inflation by the 3rd quarter next year and the US is in for a VERY bad economic collapse. Very bad !
To summarize - Record unemployment , record foreclosure rates , inflation on the horizon and more than likely a car comp. declaring bankruptcy is a bad sign of next years economic problems.
Thank god I'm good to go and retired in Mexico.........Good luck with that Obama and everyone else. Looks like the American way of living beyond it's means and having high debit to income ratio is finally going to surface. Learn from your mistakes
By: Mikey
The second installment to the banks will have the same dismal results.
I don't see the foreclosure problem diminishing next year - only getting worse.
Unemployment is really getting to critical levels right now and again I don't see that getting any better next year.
Now the Govt wants to bail out the big 3 auto makers - again bad idea........Them flying in on corp. jets and w/o a plan tells me " they just don't get it ." There is no way the money will even help them do any kind of major turnaround in the short term as people are trying to keep their homes and could not get a loan anyways. Regardless of what kind of car they produce , people cant afford it and it would take YEARS for a new model to come out to the dealers.
To cover all this bailout money the Govt is printing it at record pace. Printing money w/o being able to sell the bonds to cover it will lead to inflation - No doubt.
Combine all this and add in inflation by the 3rd quarter next year and the US is in for a VERY bad economic collapse. Very bad !
To summarize - Record unemployment , record foreclosure rates , inflation on the horizon and more than likely a car comp. declaring bankruptcy is a bad sign of next years economic problems.
Thank god I'm good to go and retired in Mexico.........Good luck with that Obama and everyone else. Looks like the American way of living beyond it's means and having high debit to income ratio is finally going to surface. Learn from your mistakes
By: Mikey
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