Take profits greedy pigs, don't wait around hoping for more and more. The stock market is what will tank. We are back near the 2008 high for heavens sakes get out, stand aside. Buying into the stock market right now is not a good bet.
Yup. I agree. There's a growing - albeit, small - cadre of Libertarian Right Wingers newly elected to the Hill with the sole mandate to stop the debt. The chorus against Huge Government and out-of-control spending has received much traction in the media, of late. The battle in Wisconsin to bust unions has made huge play on FOX, and now part of the national conversation. Illinois, California and New York are close behind. Americans are definitely waking up. But honestly, I think it's past zero hour. The criminals in Washington don't have the Political Balls to do what's right for America, lest they get thrown out next election. States must go bankrupt before union contracts can be renegotiated. And the FED's must impose severe, crushing austerity on the American people, at large. Does Obama have the stones for that? Does Congress? Do they even WANT to turn this ship around? Do the majority of Americans want to turn this ship around? That brings us to 2012. If Ron Paul somehow completes the hailmarry pass of a lifetime and beats Sotareo for the Whitehouse, most likely, he'll be assassinated. 2012 is absolutely pivotal. Within that term, at this rate, the dollar will collapse. Ron Paul is the only guy who understands the problem and knows how to fix it. If Paul gets elected, I would give his chances of survival 1 in 10. The trillions at stake in the war machine, oil contracts, Government pork/bribes, least of all, fractional reserve banking, are so astronomical, I think it will take nothing short of an Act of God to get Paul elected and keep him breathing to the end of his term. Presidents have been killed over the same thing in the past - JFK and Lincoln come to mind. It's all coming down to the wire, extremely fast. I heard this years deficit is projected to come in at 2 TRILLION dollars.
Don't get me wrong. I'm for austerity. The case against it - from the standpoint of the politicians who run this Country - is strong. As for the market, it's conceivable it would blow past '08 lows. More than 40%. Volker was the last guy to clean out the system. Since then, America has enjoyed a 30 year asset bubble in stocks and real estate. Austerity would be like pulling back the curtain on some murderous freak show. There's not much to this house of cards besides debt and bailouts. Take that away, and the whooole ponzi scheme collapses into its own shit.
You are right, were going on decades of asset bubbles, the credit crisis that started just 3 years ago was the opportunity to start fresh, to let the system reset and start new again, but of course that didn't happen. They intervened and now here we are again facing even more problems. After trillions and trillions of dollars, stimulus, new programs to prevent banks from collapsing, new programs to keep foreclosures steady, new programs to create new house buying, tax credits and everything else they poured into the system will now create even more havoc on the system in the years to come. All they did was prop the economy up, everything is an illusion from here on in, all were doing is creating even bigger asset bubbles cause that is the only way to grow the economy, by creating asset bubbles just like we have been doing for the last 2 decades. Its going to collapse, but everyone keeps ignoring it, thinking everything is perfect in bubble land!!!!