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Prospect Capital Corporation Message Board

  • jfnh1 jfnh1 Oct 14, 2010 3:17 PM Flag

    Just the facts

    U.s. Population today 310,000,000. 58,733 on social security, average benefit 1,071.80

    about 19 percent of population on social security or about 1 in 5

    17 percent of the work force works for the government today verses 16.2 percent in december of 2007

    107,970,000 work in non government positions while 22,321,000 work for the government.

    since december of 2007 government jobs have declined by 146,000 or about .06%, while civilian jobs have declined by
    7,604,000 or about 6 percent, a whopping 10 times the rate of government jobs.

    consider in december of 2002 there were 130,183,000 people employed in this country and the dow was at 8,341.63

    at the end of september this year there were 130,201,000 people employed in this country and the dow was at 10,788.05

    now consider there are 130,201,000 working people supporting 58,833,000 people on social security plus 22,231,000
    government workers.

    the real fear the fed has about qe-2 is a good portion the the new money from qe-2 will flow out of this country

    into better returns overseas, thus diminishing the effect of qe-2 and leaving us to suffer a long hard recovery.

    that is why i have been a little short on psec and the market overall.

    the market is down 53 points today with the dow at 11,042.54.

    i think qe-2 is well oversold at this point.

    what's your opinion?

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    • It does not look good for the long run. With those kind of social security #'s no wonder my last social secuity statement said by 2037 there would only be enough to pay 75% of my benifit amount.

      Kind of scary. The future does not look promising.


      Hope we do well here at PSEC, to make up for social securitys lack

    • Good luck on going short PSEC. I think you'd do better by shorting BAC (or go long FAZ).

      QE2: Agreed, it oversold. FEDs will buy a few bonds, but that's about it.

      Job market: Yep, it sucks.

      Social Security: Just another ponzi scheme.


      Wayne

 
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