Aaron TaskYahoo Finance
February 17, 2009
But "the worst is yet to come," according to Howard Davidowitz, chairman of Davidowitz & Associates, who believes American’s standard of living is undergoing a "permanent change" - and not for the better as a result of:
• An $8 trillion negative wealth effect from declining home values.• A $10 trillion negative wealth effect from weakened capital markets.
• A $14 trillion consumer debt load amid "exploding unemployment", leading to "exploding bankruptcies."
"The average American used to be able to borrow to buy a home, send their kids to a good school [and] buy a car," Davidowitz says. "A lot of that is gone."
12 comments:
Obama's stimulus pork roll is fundamentally flawed - spending more to fix overspending.
What we needed to do are to:
1) Increase production for exports, not domestic consumption
2) Liquidate toxic assets to foreign investors
3) Let financial Darwinism cull the fat dinosaurs out to let new mammals arise - not put these outdated dinosaurs on life-support
4) Get rid of all non-critical spending like $300 million for anti-man funds and Zionist wars
5) Cut off race-based affirmative action that's reducing our global competitiveness
6) Cut off bailouts to Sulemans and Lehmans
7) No bailouts for companies with mob unions
8) Get rid of the FRB and inflated fiat funny money
9) Legalize hemp
10) Include holistic health methods as insured options to reduce longterm health care costs
11) Emphasize PERSONAL RESPONSIBILITY again like JFK did
But we all know Obama was simply chosen cuz he was the best Kool-Aid salesman...so drink up, Jonestown!
Byrd.
That's actually some good shit.
Too bad you white racist and "anti-Semitic". We can't consider good ideas from bad people.
That's A Violation of The Rules of Group Identity Politics.
What do think, it will take 2 years before the masses realize the economy was intentionally scuttled and they've been robbed of a nation?
DV - Too bad guys like us are too far ahead of the pack and we haven't hit critical mass yet.
It's like watching a train wreck...
The thing is, we have used every financial trick up our sleeves, yet still not bottomed out yet.
So, I hate to be a doom & gloomer, but things could possibly get real ugly. Or not, who knows?
All I know is that none of the real corrective actions that need to be taken - are being taken. And the markets and economy bear this out with continuing downtrending...
Look, when I first started calling out Jews a few years ago, simply saying the word "Jew" made you an "anti-Semite." Talking about Big Bro made you a total fringe conspiracy nut.
But with the increasing telltale fallout from recent events, these ideas suddenly don't seem so wacky anymore, do they?
Well, when Noah couldn't convince the masses and even got mocked by them, he just said the Hell with you all and started building his own Ark... Live your life with what you truly believe, and time will tell who's left standing.
I can see it now DV.
You, Mrs. Vesey, the little Veseys - all hunkered down with your he-man woman-hating skinhead confederates on that "good ideas" ark.
Good luck with that brah...,
Aight Aight Aight CNu,
I can see how you find that image amusing.
But that scenario is much more far-fetched than the probability of the Nu clan waking up in a barracks at a 300,000 person FEMA camp, preparing for a hard day of Holocaust lessons and "diversity" training.
Come now grasshopper...,
You know that the Nu clan has been prepared for the clampdown for years. Mattafact, you know as well as anyone that Cnu resides on the spectrum of preparedness somewhere between the real Robert Williams and the make believe Dan Freeman.
That's true.
Big Ups to that.
You are 1,000 times more prepared than the Average American.
But you still going to climb up on that school bus when they pull up in front of the crib.
Be right there in the back of the bus talking about "This is ridiculous! This is preposterous! This is complete and total Dopamine Hegemony! I'm not sitting next to Byrdeye!!!"
rotflmbao....,
That's good man. I'm glad I wasn't sipping any hot beverages when I read that.
Absolute worst case, the Nu clan goes Green Acres in an undisclosed Louisiana parish - while you and the skinheads make "equitable" arrangements with one another on that bus.
"This is ridiculous! This is preposterous! This is complete and total Dopamine Hegemony! I'm not sitting next to Byrdeye!!!"
LMFAO!!!!
BTW Cnu - rednecks are probably going to have the last laff here - since most of them practically hunt and fish for a living and are also armed to the teeth.
They could go for months without a Starbucks...
But what about most Hollywood liberals???
DV, turdy wants to know where he can find you and Mills when the clampdown comes?
Byrdeye
But what about most Hollywood liberals???
Funny... Ask DV
"But what about most Hollywood liberals???"
Hollywood Liberal?
Never met one.
That's some shit they feed to ya'll bumpkins out in the boonies.
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