Thursday, April 23, 2009

I Hate Being Right

This is getting old. For weeks now we've been hearing that the recovery was right around the corner... and for weeks now we've (me, vox, several others) have been telling you that the worst is yet to come.

And here we are... its almost May... The administration has fired every bullet in its gun. The Fed hasn't started shooting yet... because it knows if it does it risks something far worse than a mere depression.

So here we sit... waiting. And I'm getting really sick of it.

The other day I stopped by a little pool business here in town. Its run by two hardworking people... a man and his wife. They've made money their whole lives by the sweat of their backs. Now?

Now they're on food stamps... and 10 grand behind on their rent.

I know industrial mechanics... tool and dye... electricians... all out of work. Been out of work for months. No jobs in sight... and to many government obstacles to start their own businesses. I don't see how this ends well.

And all the while the jackasses on TV tell us the recovery is right around the corner... What do you think their gonna do when fall rolls around and things are still on the decline?

Well I'll tell ya one thing... if you've managed to recover some of your losses in your 401k you better get out soon. We're not gonna be flirtin' around with 8000 to much longer. We're at or near the peak right now. You may be able to wait a little while... but just remember... when it drops this time... its gonna drop big.

Keep your powder dry boys... if ya have any.

20 comments:

Anonymous said...

I keep telling ya...


http://www.american.com/archive/2009/april-2009/the-coming-of-the-fourth-american-republic

-Bill

Nate said...

Sorry Bill.. but I don't buy his explaination of a Third Republic. There was no significant difference after the Great Depression. The die was already cast. The income tax was already in play.

We've had 1 republic... because once the senate was reduced to popular election... we stopped being a republic.

Spacebunny said...

I'm guessing they'll keep it floating around 8,000 for the better part of the summer, maybe a small rally here and there, but come the fall - well, an more apt word perhaps doesnt' exist.

huckleberry said...

The suspense is killing me...

Anonymous said...

The Center Does Not Hold.
Things Fall Apart.

But..the End is not Yet.

SarahtheCanucki

trk said...

Its beginning to look a lot like Christmas....

The Mad Aussie said...

Lakers vs Utah Game 3, Chuck at half-time:

Host: "Why is Kobe 1 for 10"

Barkley: "Cause he's missed 9 shots."

Kenny Smith had a funny one too, "He'll probably make 9 in a row in the fourth quarter to make up for it, this guy doesn't operate like a normal human."

Kiwi the Geek said...

Did anybody go to the Town Hall For Hope? Does Dave Ramsey have any clue what he's talking about?

Nate said...

Dave is a moron.

Raggededge said...

Getting out of debt is moronic?

The Mad Aussie said...

It would be a shame if you lose all the old comments Nate, but you still have your haloscan account, so that preserves history, but not for everyone else.

Nate said...

I'll get it all fixed up propper Jamie. Have a little faith.

The Mad Aussie said...

Well I really like the new setup, so I wait. I had the Steve Stifler face from Old School when I saw it. The one he makes after Will Ferrell shoots himself in the neck with a tranquiliser dart.

ajw308 said...

Just all the parts suppliers losing business for 9 weeks will result in lots of employees being laid off for that time. While laid off, they will have little or no money coming in. This income stoppage will trickle through local economies.

Lots of small towns in Michigan have parts suppliers as their largest employers.

I fear it's gonna get ugly.

Kiwi the Geek said...

Thanks Nate. I discovered that when I found the website of Town Hall For Hope. I can't watch the broadcast over dialup, but I read his statistics. He obviously knows nothing about economics or investing and is duped by the very government and media he blames for inciting fear.

metalcommuter said...

For some reason, my company has been doing ok. Sure, we've had some issues for a couple quarters, but so far we've been making sales, etc.

I was depressed at first when this economy started to tank, then I just remembered to trust God. That first step is so hard, but then you realize that with God, you're alright. (And no, this does not mean I am safe from losing a job or anything, I did lose a job not even two years ago).

metaljaybird said...

metalcommuter...that is me (MJB).

mustang said...

Fot Kiwi:

April 24 (Bloomberg) -- Executives and insiders at U.S. companies are taking advantage of the steepest stock market gains since 1938 to unload shares at the fastest pace since the start of the bear market.

Hope? Hope you're not the bagholder.
Wisdom is what is needed not hope.

rycamor said...

So far my freelance programming work has kept up, but the margins keep getting thinner as I duke it out with offshore Indian code-mills.

We've been working hard on the food-sustainability end of things. Started with just a little garden, now we're doing experimental plantings of peas, corn, tomatoes, bell peppers, a couple fruit trees, peanuts, grapes, sweet potato, and a nice herb garden. Next step, expand on the things that grow best.

Then we figured the easiest protein source was fowl, so we are now raising chickens and ducks. So far, so good... Free eggs in another month or two. All our immediate neighbors are hard at work doing similar things.

So, while we may end up broke, we will at least have plenty to eat.

Kiwi the Geek said...

Thanks, mustang. I've been trying to convince my dad of what is common knowledge around here, and that little fact might help.