I got a feeling we’re on our way down! On CNN, Biden said we hit bottom.
By Daniel at 31 October, 2009, 8:39 pm
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I think we are still on our way down some more. His bottom is difficult to believe to be the real bottom!
Last March the markets were 40% down from where they are now. So, to me the bottom is worse than 40% down from where the markets are at this time.
Hypothetical:
“I know where the real bottom is… It’s called ZERO”. Now that is a real bottom in my books. Below ZERO, they’ll be knocking on our doors to take whatever we got!
In my logic, I can see there is no reason for the markets to not go back to the last March levels. In all logic, what’s out there to stop this? Anything can happen if you think logically. To get back there, all it takes is a lot of selling out!
Fact:
I keep on ranting, “With growing unemployment, and the continuous reduction of consumer spending, how’s it possible to have any kind of real true economic growth?”
Economic growth does not come from giving the banks a hell of a lot of money, and say, “Lend it out Buddy”. All they did was horde the money and pay out more bonuses to their management. Shoving a lot of money in to a bunch of large corporations to push up their assets, and having their profits still going down at the same time is not going to make for anything of any contributed value to the economy. With low profits they are not going to hire back the laid off workers! All they are doing is distributing more pay checks and bonuses to their management and whatever employees they have left, and slowly selling of what’s left of their inventories.
I am very sure that after getting in to next year we are going to see a lot more bankruptcies. There are many companies that are trying to hold off until next year.
Economic growth will come when people are getting their jobs back and given enough money to go out and start spending again. The increase of spending and increase of employment is what will make for growth. One of these without the other cannot exist.
Jerry G.
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