GDP is further down today, unexpectedly... Economy was in "neglect" LOL.. we had a stellar economy a few years back and forty percent of people polled though we were in a depression... score one for dumbing down America and then taking control...
There are so many conspiracy theories posted. Does that go along with the need for the world to end. I am telling you guys. Don't fight the system, you will get wiped out and even more angry.
It's not conspiracy theory, you nitwit. It's what Public Choice Theory (a branch of economics) tells us. Who says anyone is fighting the system? It's much easier to position yourself to collect regulatory rents rather than fight. That doesn't change reality - self interested politicians will and have the power to reward themselves by extracting rents from you and delivering them to the interest groups that support them. Basic econ.
Call me a bleeding hearted, ladyman liberal, but I am a tad dubious about the validity of the GDP growth in the Bush years. This was taken from an article published by the HUD in 2004, which I reckon is when you were referring to the "stellar economy?" "Homeownership and home improvement act as the economy's backbone. The housing industry creates jobs and income for workers when other sectors are slow. Families use their equity to upgrade their houses, pay for their kids' education, for medical expenses, auto purchases, travel, and countless other needs. Now is a great time to talk about the American Dream of homeownership because our economy is growing stronger. The economy has come roaring back to life this Spring - 1st quarter GDP growth was 4.4 percent and the economy has created over 600,000 new jobs in just March and April. " here is the article, http://www.hud.gov/local/co/news/2004-06-04.cfm I am not saying that there is no problem with the gargantuenormous spending or that it will even work but didn't George W. sign the 700 billion bailout that started this mountainous deficit you are talking about? beyond that, i am sure i don't have to remind any trader of the Dow dropping over 20%, from 10320 to 7880 back in 5 painful days in early October (pain, unless you were short, of course;-) so, yeah, i would say the economy was somewhat neglected on many levels or the ideas of the previous administration were not exactly conducive to the best economy possible. on the spending, at least take heart in the fact that historically, increased taxes for the wealthiest in the country has likewise increased the tax receipts as a percentage of GDP. so whenever the economy has recovered enough to enact them, higher tax receipts means greater ability to pay for the expenses, however huge they may be and long it may take. Be Happy, somewhat disgruntled right wing brothers!! oh, and for those of you that may want to check on the often disputed idea of supply side economics increasing tax receipts, sift through this link of govt. docs to see that since 1980, tax receipts were at their highest in 1981, due to the overall embarrassing policies of Carter only to reach these levels again in uh...1998. who was president then? http://www.whitehouse.gov/omb/budget/fy2008/pdf/hist.pdf or no sifting... http://www.gpoaccess.gov/usbudget/fy07/sheets/hist01z3.xls
> Why do "the elite" constantly need the world to end? Eugenics, new world order or "survival of the fittest". Take your pick.
The best traders, are realists. We believe that the only thing that matters is to be right. We don't care about morals, the best traders only care about their bottom line. If the market is going down we short or put. If the market has hit bottom, we scale into the up trend making money off of calls and long stocks. We don't care where the market goes, our objective is to make money. Predicting long-term trends is very easy, just be a realist. It's very easy just look at the facts and avoid fallacies of thinking and you will have insight into how the markets are moving.
Also, it is the "I told you so..." the feeling of not being stupid and following the herd like other traders/investors.