What a surprise....

[bryan]

Hi
Read :The Great Crash of 1929 by John Kenneth Galbraith.It is basically a month by month account of what led the world into the Great Depression.Its scary the way history repeats itself (same companies, same dates ,same quotes and exact same outcome) and we still can't change it.
Of course some people don't want it to change because they became thilthy rich because of the great depression the same way their grandchildren are getting thilthy rich now.

If this plays out the same as the last great depression it should last atleast 5 more years.Thats if this one started in 2004 but if you go by the Fed then we have untill 2018.
Its time to start those Victory gardens folks.
The powers that be ;are the powers that were and will always be.

 

[Tennesseahawk]

Great post, Bryan!

I'm gonna steal something from Louixo in the Loading Dock. It's an editorial cartoon from 1934, and will illustrate just how true your words are - about everything being the same as then.

 

[OntarioVanMan]

"The good news – such as it is – is that the job losses are not accelerating, and may even be starting to lighten," said Douglas Porter, deputy chief economist at BMO Capital Markets.

Since the rally started on March 10, the main Toronto index has jumped 21.4 per cent while New York's blue chip index has soared more than 23 per cent.

The TSX Venture Exchange was up 18.27 points to 968.97 while the Canadian dollar rose 0.80 of a U.S. cent to 81.62 cents..

Some sectors hiring..

Some former assembly line workers at General Motors of Canada Ltd. are becoming bank tellers, while others are using their skills in warehouses, operating forklifts and other such machinery. But Toronto-based career counsellor Karen Shane says they shouldn't be ignoring a jump into the trades, where there's not only an immediate labour shortage but a long-term one that offers prolonged job security.

That said, if you're newly laid-off and good with your hands, there are sectors expanding right now and jobs for which you don't need a university degree.

NEW YORK–March same-store sales fell in the United States for the sixth straight month, as cautious consumers continued to stick mostly to necessities such as food, but there were some glimmers of stabilization in retailers' reports yesterday.
The April Easter hurt some March results – notably Wal-Mart Stores Inc. – but several retailers predicted strong April sales and boosted first-quarter guidance. Discounters continued to outperform other sectors while the luxury market remained weak as shoppers continued looking for deals.

In the US..

Dow index up 246 points..broke 8000 again....
Nasdaq up 61 points..
S&P 500 up 31 points

 

[greg334]

Prosperity is not measured by the stock market but by production. If some only count on the stock market to be the only indicator for our recovery, then we are in trouble.

Read the Forgotten Man by Amity Shlaes.

 

[OntarioVanMan]

If some only count on the production to be the only indicator for our recovery, then we are in trouble.

Companies need money to be able to produce...companies need to see a consumer demand to produce....You can't produce without said money....

 

[greg334]

OVM,
The problem is that the companies sell the stock to generate financing, they issue more stock as needed but they do not use the stock as a primary source of revenue by issuing of the stock. It is called equity financing.

What I mean is that the stock is not bought and sold as part of the business, it is the production that produces the revenue. Having a high price stock does a number of things, confidence is one thing that was a traditional indicator of trust within the company and the products but thanks to the dot com mess, a lot of things were refined.

Many look at the Dow as the indicator of how well we are doing but it is one of many many things, it is called the index of leading indicators, the Dow is not part of it but the S&P is. The Dow is like unemployment, we hear 8.5% (or what ever it is) but that number only indicates the 'unemployed' which is narrowly defined. It does not include people like me who are jobless (yes I have no job), but depending on the source use the rate includes part time workers who want to work full time.

The solution for consumers to buy more stuff is to have them have more money. The mess we are getting into is the opposite, we are producing more money so people can buy more stuff and it is not produced money. Take a close look at GM, they are not focusing on fixing their problem but bringing out products that no one will buy and blaming it on the banks. The confidence by the consumer is waning and they will have to be broken up to survive thanks to the government stepping in and helping them.

 

[letzrockexpress]

Wells Fargo's profit is up which means people are paying their loan payments. They must be producing something to have income to pay their bills.

A far as GM goes, I just saw yesterday where both GM and Ford's number one sellers last year were once again pick ups and SUV's. If this is true, They have been producing what the people want. I am sure some want the smaller, fuel efficient cars...the facts are ambiguous at best...

 

[bryan]

Hi

The DOW is back up to 8000 which is good but if it goes above 9500 watch out.That means that people are borrowing money to buy stocks which is what got us into this mess.People figured that since they had enough money to pay their monthly loan payments that they could use the rest to buy stocks instead of paying down the loans.Untill people understand that the stock market is more like a casino than a savings account we will be in trouble.
I don't think we are out of the woods when it comes to people doing stupid thing with their money. Scam artist are showing up everywhere.They have to be getting money from somebody, TV and radio ads aren't cheap.Most of these scams are targeting people who are already in financial trouble or the elderly.

 

[letzrockexpress]

Hi

I don't think we are out of the woods when it comes to people doing stupid thing with their money.

That day will never come...

 

[OntarioVanMan]

This week, the Grand Old Party continued its march into madness -- and irrelevancy.

Rep. Spencer Bachus pegged the number of Congressional socialists at 17.

Rep. Michele Bachmann said she fears the Obama administration will use "volunteerism" to create "re-education camps for young people."
RE: Bachman...another GOP paranoid nut!

Bachmann's past life. her political life started as candidate for school board in Stillwater, Mn. She was both private schooled or home schooled. She claims to be an attorney - though research does not support that - she has apparently never been on the bar in Minnesota. she has been connnected with several questionable groups - Young Americans for Freedom (MN), and People Preaching Christian Dominionism.

This is a really good one...
Sen. James Inhofe responded to news that Obama plans to increase military spending by $31 billion dollars by claiming the president "is disarming America."

And Rick Santorum penned an op-ed accusing Obama of having "disdain for American values."

Elsewhere, proving that stupid has no borders, Italian Prime Minister Silvio Berlusconi said the 17,000 survivors of Italy's deadly earthquake "should see it like a weekend of camping" -- a lovely companion to Barbara Bush's that Katrina victims housed at a relocation center in Texas "were underprivileged anyway, so this is working very well for them."

 

[aristotle]

OVM... are you trying to get me riled up on Easter morning? Sure, the GOP has been kicked in the groin (thanks George W. Bush) but it's still plenty relevant. There is no march into madness. We're planning a peaceful coup d'etat at the ballot box. I call Obama the "accidental president." We still don't know how he got there.

Now, may equanimity be restored on this Sunday morning. Anyone been out to Keeneland this Spring meet?

 

[OntarioVanMan]

OVM... are you trying to get me riled up on Easter morning? Sure, the GOP has been kicked in the groin (thanks George W. Bush) but it's still plenty relevant. There is no march into madness. We're planning a peaceful coup d'etat at the ballot box. I call Obama the "accidental president." We still don't know how he got there.

Now, may equanimity be restored on this Sunday morning. Anyone been out to Keeneland this Spring meet?

Hey if Chef can post his blog happy crap so can I...*LOL*
I wanted to see if anyone was awake!*L*

BTW...Good morning!

 

[Tennesseahawk]

Hey... the Dems would/still claim the Repubs want to starve your chirlins by cutting school lunches; take away old folks' healthcare; are racists because they aren't for welfare, etc. All untrue.

Although overblown in the claims you post, what's good for the goose! All I can say is hooray that they finally learned how to play politics with the spinmasters!

 

[letzrockexpress]

We're planning a peaceful coup d'etat at the ballot box. I call Obama the "accidental president." We still don't know how he got there.

You don't know how he got there? Pull the other one. Where have you been for the past 2 1/2 years? Grass roots campaign, rallied the young lambs who were but young teenagers when Bush was re-elected in 2004. Strong organization skills, Created a simple and strong message. Stayed on point. Strong sense and knowledge of pop culture (necessary to attract young lambs), Probably the best speaker of the past 40 years, attempted to channel, somewhat successfully, the BEST speaker of the past 100 years. Substance was secondary. He brilliantly knew which buttons to push. If the Republicans don't find a new option pretty quick, it's going to happen again.

 

[aristotle]

A victory of style over substance. A pyrrhic victory for sure.

 

[letzrockexpress]

A victory of style over substance. A pyrrhic victory for sure.

Precisely. The style vs. substance part. The jury is still out on the pyrrhic victory part. I hope that won't be the case.

 

[aristotle]

There's nothing special about Obama except his good luck to follow George W. Bush. The Democrats could have placed Charles Manson on the ticket and still have won. Most certainly, Obama is not a gifted speaker. Barely adequate at best. Without his teleprompter, he mutters and stumbles about just like W.

Obama's naivete, however, puts him in a class all by himself. Jimmy Carter looks like a worldly visionary in comparison.

 

[Tennesseahawk]

I wouldn't consider Obama naive; tho possibly Carteresque. He's more of an FDR, IMO; which is MUCH worse! I think he knows EXACTLY what he's doing... at least in achieving his ultimate goals.

 

[mjolnir131]

You don't know how he got there? Pull the other one. Where have you been for the past 2 1/2 years? Grass roots campaign, rallied the young lambs who were but young teenagers when Bush was re-elected in 2004. Strong organization skills, Created a simple and strong message. Stayed on point. Strong sense and knowledge of pop culture (necessary to attract young lambs), Probably the best speaker of the past 40 years, attempted to channel, somewhat successfully, the BEST speaker of the past 100 years. Substance was secondary. He brilliantly knew which buttons to push. If the Republicans don't find a new option pretty quick, it's going to happen again.

I totally disagree Clinton is hands down the best orator in the last 50 years.You can call him allot of things but his public speaking skills are golden. It was really weird to watch him not speak during Hillary's campaign so as not to over shadow her.

 

[mjolnir131]

I wouldn't consider Obama naive; tho possibly Carteresque. He's more of an FDR, IMO; which is MUCH worse! I think he knows EXACTLY what he's doing... at least in achieving his ultimate goals.

Well Carter was very naive', and still is, hell of a nice guy but a lousy poker player a necessary skill to be president.