Boy it sure is reassuring to know that 90% of our national economist (who still have jobs) agreed that the worst of our economic woes are behind us. That's really makes me feel "warm & fuzzy" especially since 98% of these same morons said that the Sub Prime Mortgage crisis would have negligible impact on the overall economy.
Now don't you feel better knowing that you can't get laid off twice!
Make it a great day.
Wednesday, May 27, 2009
Tuesday, May 26, 2009
Consumer Confidence Surge?
Are you buying, literally or do you think its bull?
Gee its so great when the government can create their own consumer surveys to say whatever they need for the moment. Confidence is a relative term. For instance if you lost 40% of your 401k's value and now it's recovered 10% then that makes you optimistic.
If you still have a job and won't be laid off even though you thought you would, then your up-beat!
Think about it.... our banking system is still playing a "shell game" but they aren't showing the pea! The automotive system is in complete ruin with thousands of works and support industries still awaiting casualties. The states across this nation are in peril of huge deficits to include CA and state pension funds are a disaster, but the "brain dead" consumers are still "high" on confidence.
Then God Bless America.
Gee its so great when the government can create their own consumer surveys to say whatever they need for the moment. Confidence is a relative term. For instance if you lost 40% of your 401k's value and now it's recovered 10% then that makes you optimistic.
If you still have a job and won't be laid off even though you thought you would, then your up-beat!
Think about it.... our banking system is still playing a "shell game" but they aren't showing the pea! The automotive system is in complete ruin with thousands of works and support industries still awaiting casualties. The states across this nation are in peril of huge deficits to include CA and state pension funds are a disaster, but the "brain dead" consumers are still "high" on confidence.
Then God Bless America.
Friday, May 22, 2009
Money & Market Minutes by Conrad Peditto
Federal & State Governments in Denial
Yes, most of us that have experienced a prosperous household for most of our adult live really to a major degree are in denial about the future economic prospers of the US economy. As long as there is a credit card or an equity line of credit to still spend money, we are delaying the unavoidable.
Well both federal and states are also in complete denial because as tax revenues have plunged across the nation, we have had US Postal rates increase by 2 cents. States have raised tolls on their bridges and expressways and other than most recently CA, no legislators or senators have voted in a salary pay cut!
End game is someone has to come clean and truly ring the alarm bells and we must all stop pretending that things will be back to normal by 2010!
Yes, most of us that have experienced a prosperous household for most of our adult live really to a major degree are in denial about the future economic prospers of the US economy. As long as there is a credit card or an equity line of credit to still spend money, we are delaying the unavoidable.
Well both federal and states are also in complete denial because as tax revenues have plunged across the nation, we have had US Postal rates increase by 2 cents. States have raised tolls on their bridges and expressways and other than most recently CA, no legislators or senators have voted in a salary pay cut!
End game is someone has to come clean and truly ring the alarm bells and we must all stop pretending that things will be back to normal by 2010!
Thursday, May 21, 2009
Money & Market Minutes by Conrad Peditto
Investors Excited by Banks Issuing Common Stock
What am I missing here? All wire services are making this prolificate annoucements that Bank of America, JP Morgan Chase and others are raising hundreds of millions of dollars to pay back TARP but selling newly created common bank stock!
Hello! Isn't that a form of dillution of shareholder value. More stock outstanding less value!
I really feel sorry for all of the finanical MBAs out there because all of the economic rules that I always cherished are being broken on a daily basis. Then again what the hell do I know!
Wednesday, May 20, 2009
Money & Market Minutes by Conrad Peditto
Your aren't Buying into the Stock Market?
Boy, it sure is dam tempting to take some of that high yielding 1% interest money market money and put into some commodity fund or solid "blue chip" large cap stock, but that is exactly why we are once againbeing programed back into the market.
They know you can't continue to live of zero return on your cash. Greed, it got them there and now they want you again. They need your cash, that's how they get paid.
I realize you are paying over $1200 a month for your COBRA, but remember another virtue to adhere to, patience. I realize that's difficult when some of your friends are now starting to brag about their recent returns.
Watch out and be careful,
Conrad Peditto
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