USA burning, Obama still doesnt smell the smoke.

[Javelin]

http://www.bloomberg.com/apps/news?pid=20601087&sid=aVF7dlc0xFo0&pos=3

March 25 (Bloomberg) -- U.S. stocks fell for a second day as a disappointing Treasury auction and discord among European leaders about how to rescue Greece erased a rally in the final half hour of the session. The 10-year note’s yield climbed to the highest level since June, and the dollar rallied.

The yield on 10-year Treasuries, which determines borrowing costs for homeowners, companies and other governments around the world, climbed 0.03 percentage point to 3.88 percent at 5 p.m. in New York after jumping 0.17 point yesterday. The yield touched the highest since June when it reached 4 percent.

“One of the big things affecting the psychology of the market is concern about global government debt levels,” said Michael Shinnick, a South Bend, Indiana-based money manager at Wasatch Advisors Inc., which manages $7 billion. “To the extent there are signs that the debt problem is not going to be a later problem but a near-term problem, the market gets concerned.”

Obama = 

Looks like more and more that threshold of no return has been reached.  The kicker being once we borrow at higher rates we are screwed.  Not even putting the problems of the EU into the mix.  As interest rates go up we will not have to worry about a next election, there will not be one.

[Hawkgirl]

time to sell, sell, sell??

[DefiantSix]

time to sell, sell, sell??

Time to buy: gold & silver, food, power source, and lead.

[Pat]

Looks like more and more that threshold of no return has been reached.  The kicker being once we borrow at higher rates we are screwed.  Not even putting the problems of the EU into the mix.  As interest rates go up we will not have to worry about a next election, there will not be one.

looks like his plan is on track

[formerlurker]

My gosh, is the sky falling again?   You know what they say about New England weather, you don't like it just wait 15 minutes.......

[NHSparky]

My gosh, is the sky falling again?   You know what they say about New England weather, you don't like it just wait 15 minutes.......

It'll get worse.

The sky isn't falling, lurker--but you gotta admit that even the administration is setting a pretty low bar for "recovery" this year.

But having listened to Cramer, et al, as bad as we're sucking, pretty much everyone else is sucking WORSE.

[Javelin]

My gosh, is the sky falling again?   You know what they say about New England weather, you don't like it just wait 15 minutes.......

Follow their technicals if you wish, make your quick buck.  Yet Fundamentals always drive the heart of the system and no 15 min wait is going to save your backside there.  Good luck.

Only a financial idiot would accept this "recovery" as a real recovery.  The professionals I deal with always use the word consolidation.  Big difference.

[formerlurker]

Follow their technicals if you wish, make your quick buck.  Yet Fundamentals always drive the heart of the system and no 15 min wait is going to save your backside there.  Good luck.

Only a financial idiot would accept this "recovery" as a real recovery.  The professionals I deal with always use the word consolidation.  Big difference.

I wish I had a dime for everytime I have been told it is the financial armageddon of the United States... no really, this time it is really it.  Seriously. 

[Javelin]

I wish I had a dime for everytime I have been told it is the financial armageddon of the United States... no really, this time it is really it.  Seriously. 

 

ok

 

sooooo ?

[Duke Nukum]

I wish I had a dime for everytime I have been told it is the financial armageddon of the United States... no really, this time it is really it.  Seriously. 

We have never had a president and congress who were working so diligently to create a financial Armageddon before.  But still I take your point.  This is still America and we are nothing if not resilient and innovative in the face of crippling government regulations.

[Javelin]

We have never had a president and congress who were working so diligently to create a financial Armageddon before.  But still I take your point.  This is still America and we are nothing if not resilient and innovative in the face of crippling government regulations.

Who knows maybe he has the 13 trillion buried in his back yard to bail us out.  I was waiting for some kind of intelligent response that could prove the lack of validity to the underlying fundamentals.

I for one never believed all the sky is falling crap in the past.  Why?  Math doesnt lie.  Perhaps he knows something we dont that is actually factual?

[Duke Nukum]

Who knows maybe he has the 13 trillion buried in his back yard to bail us out.  I was waiting for some kind of intelligent response that could prove the lack of validity to the underlying fundamentals.

I for one never believed all the sky is falling crap in the past.  Why?  Math doesnt lie.  Perhaps he knows something we dont that is actually factual?

I tend to agree with your assessment and yet, I have the irrational hope of an American.

As F. Scott Fitzgerald once said, "One should...be able to see things as hopeless and yet be determined to make them otherwise."

[Javelin]

I tend to agree with your assessment and yet, I have the irrational hope of an American.

As F. Scott Fitzgerald once said, "One should...be able to see things as hopeless and yet be determined to make them otherwise."

I agree completely.  Fitzgerald's point is the key to also allowing someone to make the necessary adjustments in their life in order to find hope.  Yet most people sit back and do nothing waiting for something to get better.  Lack of action can be a death sentence.

Yet most people over extended themselves on debt.  My wife always complained about how I always made her settle for the smaller home, car, discount goods.  She could not understand how I always said we could not afford more yet she saw the physical money there to buy it.  Now that these times have come it has afforded me to shift investments, start a new company that is profitable for myself (I wish I could hire people) and there is no pressure from a mortgage or car payment.  She sees her friends that lived it up now losing homes or wondering how they will survive. 

Its important to realize the truth of a situation and prepare.  I just find it funny how many still dismiss people who look for the truth as ... well... crazy.  I am not sure what kind of cool aid they have but I wouldnt mind having some lol.  There are a lot of people out there barely hanging onto what they have and by the time all resources are gone and they lose what they have, they would have much better off to recognize the truth and make a decision before their resources were exhausted. 

You really begin to see who is savvy verses who just rides the wave in times like these.

[Freeper]

I wish I had a dime for everytime I have been told it is the financial armageddon of the United States... no really, this time it is really it.  Seriously. 

That may be true that in the past we were told the sky is falling. But, with Obama in office he is doing his best to pull the sky down on us all. We can't keep spending like crazy like we are. Every word out of Obama's mouth includes more spending. He wants to give out free internet to poor people on top of all the other spending. Our credit rating is in the tank. If we were a business the feds would shut us down.

[thundley4]

That may be true that in the past we were told the sky is falling. But, with Obama in office he is doing his best to pull the sky down on us all. We can't keep spending like crazy like we are. Every word out of Obama's mouth includes more spending. He wants to give out free internet to poor people on top of all the other spending. Our credit rating is in the tank. If we were a business the feds would shut us down.

It seems like 0Bama is trying to create an economical situation that will bring about class warfare, and I don't mean politically, but as in the sense, that poor people will literally start attacking with the wealthy with pitchforks and torches.

[Lacarnut]

Time to buy: gold & silver

As an insurance polciy. If it works out to be a good investment, so much the better.

[rich_t]

As an insurance polciy. If it works out to be a good investment, so much the better.

A better insurance policy is lots and lots of ammo.

Just in case......

[Javelin]

A better insurance policy is lots and lots of ammo.

Just in case......

That is actually a good idea in more way than one.  If you remember the price of ammo just five years ago the price was about 1/2 of what it is now.  Ten years ago the price was about 1/4 of what it is now, of course depending on what kind of ammo you bought.  Its hard to find 5.56 for around 50 cent per round now if you want brass cased ammo. 

[formerlurker]

That may be true that in the past we were told the sky is falling. But, with Obama in office he is doing his best to pull the sky down on us all. We can't keep spending like crazy like we are. Every word out of Obama's mouth includes more spending. He wants to give out free internet to poor people on top of all the other spending. Our credit rating is in the tank. If we were a business the feds would shut us down.

In November the balance will be restored in mid-term elections.  In January the GOP will control the House again.   Obamacare will not be funded.   End of socialist reign.  

[thundley4]

In November the balance will be restored in mid-term elections.  In January the GOP will control the House again.   Obamacare will not be funded.   End of socialist reign.  

I wish I shared your confidence. Unfortunately, some of the GOP leadership has changed  the talk from repealing to repairing the health care bill. That does not bode well for the country.

Repeal it and start over is the only way to stop it.

[The Village Idiot]

In November the balance will be restored in mid-term elections.  In January the GOP will control the House again.   Obamacare will not be funded.   End of socialist reign.  

I doubt the GOP will.

As a matter of fact I doubt that the spending will slow much at all, I doubt the deficit will shrink much at all. I don't see how the economy improves in the next few years at least, but it will get worse.

[formerlurker]

I wish I shared your confidence. Unfortunately, some of the GOP leadership has changed  the talk from repealing to repairing the health care bill. That does not bode well for the country.

Repeal it and start over is the only way to stop it.

They are going to keep the good parts (no pre-existing condition denials, etc.) and jettison the rest.    It is far better politically to "fix" it then jettison the entire thing.   That said, the end result will have no resemblance to what is in place now.

[thundley4]

They are going to keep the good parts (no pre-existing condition denials, etc.) and jettison the rest.    It is far better politically to "fix" it then jettison the entire thing.   That said, the end result will have no resemblance to what is in place now.

The "pre-existing denial" is contingent upon mandates.  Without increasing the overall pool of healthy people, insurance companies will not be able to cover the the pre-existing conditions.  People will wait until they need insurance before buying it.

That will bankrupt the companies, and eventually lead to a single payer program.  There has to be a better way.

[bkg]

the pre-existing conditions is the worst part of the bill. Period. It is the one thing that has the opportunity to sink the entire insurance industry.

[thundley4]

the pre-existing conditions is the worst part of the bill. Period. It is the one thing that has the opportunity to sink the entire insurance industry.

But something does have to be done about those with that problem.