As I sit here at work with nothing to do. I know I will be laid off soon. Corporations and our Government have destroyed this country and we may never get back to greatness. My only hope is that my day trading can sustain my family and I. I have a good size nest egg so I will not go broke for a few years without work, but I am filled with sadness that my children will grow up in a Debt filled low wage no job country that will contine to spend Trillons on wars and let our schools crumble.
Do not listen to the media nonsense:
(1) GDP growth has been gangbuster relative to expectation, the strongest amongst all advanced industrial economies, excep for China and Brazi (two emerging markets with GDP/Capita adjusted for PPP o only 4 K per person vs. US average income of nearly 45 K per person);
(2) Budget deficit was 11 percent of GDP a year ago, has already droped by 2 percent, thanks to uptick in tax receipts, and is projected to drop to 5 percent as the government coffers from expanding economy are replinished. Assuming PAYGO the democrats put into work playout, it will drop to 3 percent which is GOV spending minus revenue plus the 3 percent interest, an extremely healthy outcome;
(3) By any metric whether it is the productivity of the American worker (labor productivity), cultural attractiveness of good Ol USA, the responsiveness of government institutions, the sheer technological prowess of the American economy exemplified by Silicon Valley, best institutions of higher education in the world and other measures of competitiveness, the US still scores at or near the very top.
(4) NATIONAL DEBT: Yes as percentage of GDP at 60 percent it is high but not as much as people think or by standards of post-WWII 40 and 50. With cyclical growth, for our 15 trillion economy even a 2 -3 percent sustained growth it will come down dramatically. Witness how we went from massive deficitis and debt to surpluses in a short span during the Clinton years.
I admit there is the long term structural tsunami related to the largest group in American history, the post-WWII baby boomers retiring and its impact on social security and medicare plus the negative demographic trends in that the average age of white men is now above 43 which will hurt economic growth and resilience unless we continue to replinish with young, well-educated LEGAL immigration. But we have dealt with these problem too in the past and can deal with them now.
I am a first generation LEGAL immigrant and I have the greatest faith in the sheer resilience and creativity of the American people, the greatness of its political institutions, a la Detoqville, and the creative forces of the American economy. I believe our future has never been brighter; I know I have prospered and will continue to prosper. Have a little faith and know that this too shall pass. (Reports of American decline are vastly exaggerated.)
Cheers and now let us make some money.
We are all in the midst of experiencing a valuable lesson. Whether enough of us learn from this lesson remains to be seen. But, just as in Ancient Rome, governments cannot provide all services to all people. Nor can they tax a small percentage of the people at high rates to pay for the programs they provide to the untaxed. It doesn't work. It never has worked.
Greece, generous with its social benefits, could never sustain its economic model. Neither can the US. Either we lay off businesses and the productive in our society or we face financial ruin on a scope even Hollywood could not imagine.
It's not too late to fix this. But the cure may be painful at first. It means cutting back on all of your favorite social programs. It means cutting business taxes and taxes on the wealthy even though this current group of commies in Washington has convinced you these people are all evil.
We have to convince businesses in America that the government will no longer be hostile towards them. We have to convince people that the world will not come to an end of we tighten our belts and ask everyone to contribute to society.
We have to close our borders. It's nice to be compassionate to the rest of the worlds poor, but we cannot afford it. We are in trouble and these people are like a virus that continues to attack its host not realizing it is slowly killing its source of life.
We need people to spend money again. To do that we have to convince them that their jobs are not going away. That means stop attacking American industry and small businesses. In return businesses should stop off-shoring American jobs to third world countries.
I don't think any of this will occur. I think Obama is too arrogant to realize he is contributing to the decline of America. And Republicans are too stupid to realize it only the media that thinks we should move to the left, not the people.
The downfall in America is just the beginning. I cant count how many returning soldiers have come to my store asking if we are hiring. His story, " I just returned from the military, I cant find a job, can you help". No one is hiring, the pain is just the beginning. The stock market is only little proof, if you want to know the truth, talk to the people in the communities who are struggling to find a job with a bs degree and a masters. Its not easy anymore..
All these problems will be resolved in 2013, after President Palin has been in office for a year and manages to undo the damage done by the previous administration. HOP
p.s. picked up some more shares today at $3.82.
Hey, get a grip. With Cap and Trade, VAT, Open Borders, Card Check and the coming Media rules it will get much much worse. ...And when it gets really bad, you will be arrested because of your attitude. You have not seen anything yet...get a gun, put New Zealand notes in your mattress, open a small bank account in Chile and buy a garbage bag full of dried beans...your children will thank you. Once you survive the 100 day kill off, most will be gone or too weak to bother you much except for Acorn members who have been fed by the Govt....so buy a Che shirt now and wash it to look old ...wear that when they come and pretend to be glad. So, cheer up, it is still good now, enjoy! Hope I got you to get out of that current funk.
Thanks. I have done everything I was told. Got an education, saved, been married for 21 years have three children, served in the army. I am in constant depression and use every once of energy I have to hide it from my wife and kids. Where did we go so wrong?
"...I have a good size nest egg so I will not go broke for a few years..."
The regime can fix that 'problem' for you as well.
Two things on the unspoken list:
1) A savings/nest egg tax.
2) Hyper inflation.