Well, the fed says moneys tight and no one spent as much as usual. Thier latest snapshot of the economy shows spending is down. Well duh.
It also seems we have a mortgage crunch that is causing the problem. Again, Duh.
Now the stock market has moved up by a ton because some foolish official said the fed may have to cut interest rates. Notice the operative word there. “May”.
So a whole bunch of fools went on a spending spree buying stocks on a “May”. I don’t know about you but it seems to me that fiscal responsibility is not and should not be based on “May”.
Hell, I may get a raise next week(unlikely as I work for myself but I may) so I guess I’ll just run out and spend a bunch of money I can’t afford to spend because I “May” get a raise.
If you and I ran our checkbooks and monetary policies the way the govt does we’d all be in jail for fraud.
Yep, the economy has seen better days and it will gain but not right now. So christmas sales started off with a bang. That’s not a sign of an improving economy, thats a sign that more people were bargain hunting the day after Thanksgiving and the rest of the weekend.
I’m betting that retailers start whining, soon, about poor sales and personally I’m going to wait until the 23rd of December before I buy anything unless it’s at least 50% or more, off.
So who’s to blame for this mortgage and credit mess that’s causing the economy these problems. Greedy bankers, naturally. Lol, maybe this will teach them to get more down payment, do better credit checks and stop selling houses to people they know won’t be able to make the payments if inteest rates go up.
Nah, they’re to greedy to think long term. Short term profits are great and to hell with the future.