Nothing has fundamentally changed on Wall St or in Washington.

Nothing has fundamentally changed on Wall St or in Washington since our “Credit Crisis” began and then supposedly ended. Why do I say this?

Nearly all that “Financial Innovation” that caused the crisis is still in place. Only the “Mark To Market” accounting rule has been lifted, thus permiting banks to show profits, and the equities markets to experience an ensuing rise. Problem solved - All neatly tied up in a nice bow; a bow just waiting to be undone.

Instead of focusing on reversing all that “innovation”, obama and the hard-left, extremist, lock-step democrat juggernaught got fixated on their foolish health-care debacle. Thank goodnes their march in that misguided direction has now been slowed down.

The primary problem still remains….An economy that is 70% consumer-driven will never, ever recover when people are not spending like crazy the way they used to. Who is going to spend wildly when they’ve either lost their job or are fearful of losing it. They’re forced to buy what they need, but then only if it’s on sale.

Government, economists, analysts, media, and every other fool with face time on TV can prognisticate all they want. Without consumer spending, corporate profits are going to go down. There will be no lasting recovery. How can there possibly be one?

- TGFD

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