Predictions
I'm listening to Marteplace on NPR. Everyone they are talking to says that things are near the bottom, things will turn around soon, things will be better in a year. Haven't we been hearing this since 2007? Anyone still believe this tripe?
I remember when the DOW (awful measure of the market and worse measure of the economy) broke 2000 and there were fears that stocks were over-valued. It happened again at 5000. Then at 10,000. What if the market was over-valued at 2000? We've been seeing unparalleled greed for nearly 30 years.
Also, I remember at the start of this century, the economic recover was being referred to as a "jobless recovery." In other words, the markets were going up, but there were no new jobs. We entered into this mess with people who had lost their jobs in the previous downturn.
Furthermore, even though Obama is leaps ahead of Bush, he is still the lapdog of the banks. The Senate and House have never stopped being the love-slaves of the banks. This will prevent any meaningful reform.
Finally, too much wealth is collected at the top and these people have no desire to give up their money. Quite the contrary, they want more. Greed is now the highest of virtues.
Since I usually make the wrong picks, I'm going to predict a doom-and-gloom scenario. (Yeah, really rational, especially for a scientists. Don't give a shit.)
2009 will end with the DOW below 4000 and unemployment above 10%. Another well-meaning, but poorly-implemented bailout for the banks will push the US to borrow to the safest limit. The bad debt is still out there and no one will owe up to their share for fear of losing out. Bank CEOs give themselves big bonuses from the bailout money.
2010 ends with the DOW around 2000 and unemployment around 12%. Riding a wave of taxpayer discontent, the neo-cons ride a tidalwave into the House and Senate. Bankruptcy laws are tightened, many government services are privatized at the cost of trillions.
2011 ends with Obama's plans finally doing some good. The DOW begins to go up, but unemployment is only marginally changed. Neo-cons take credit.
2012 ends with Obama's plans putting the markets on the road to recovery and the DOW is now at 6000 and unemployment drops down to 9%. Neo-cons manage to claim credit for this and Sarah Palin become the first woman president of the United States.
There we go. Whaddaya think?
I remember when the DOW (awful measure of the market and worse measure of the economy) broke 2000 and there were fears that stocks were over-valued. It happened again at 5000. Then at 10,000. What if the market was over-valued at 2000? We've been seeing unparalleled greed for nearly 30 years.
Also, I remember at the start of this century, the economic recover was being referred to as a "jobless recovery." In other words, the markets were going up, but there were no new jobs. We entered into this mess with people who had lost their jobs in the previous downturn.
Furthermore, even though Obama is leaps ahead of Bush, he is still the lapdog of the banks. The Senate and House have never stopped being the love-slaves of the banks. This will prevent any meaningful reform.
Finally, too much wealth is collected at the top and these people have no desire to give up their money. Quite the contrary, they want more. Greed is now the highest of virtues.
Since I usually make the wrong picks, I'm going to predict a doom-and-gloom scenario. (Yeah, really rational, especially for a scientists. Don't give a shit.)
2009 will end with the DOW below 4000 and unemployment above 10%. Another well-meaning, but poorly-implemented bailout for the banks will push the US to borrow to the safest limit. The bad debt is still out there and no one will owe up to their share for fear of losing out. Bank CEOs give themselves big bonuses from the bailout money.
2010 ends with the DOW around 2000 and unemployment around 12%. Riding a wave of taxpayer discontent, the neo-cons ride a tidalwave into the House and Senate. Bankruptcy laws are tightened, many government services are privatized at the cost of trillions.
2011 ends with Obama's plans finally doing some good. The DOW begins to go up, but unemployment is only marginally changed. Neo-cons take credit.
2012 ends with Obama's plans putting the markets on the road to recovery and the DOW is now at 6000 and unemployment drops down to 9%. Neo-cons manage to claim credit for this and Sarah Palin become the first woman president of the United States.
There we go. Whaddaya think?