Sunday, November 09, 2008
Because of my volunteer schedule, we've eaten out four times in the last six days. Every place we went was packed (ok, the 3:15 lunch was not). This behavior does not indicate recession, folks. A formal definition of a recession is negative growth for two quarters - hasn't happened yet. Another meme?
Did people get caught in the phony housing bubble? Yes, but less than 3% of the home mortgages were affected, many owned by individuals who were given loans for which they could never have qualified without breakdowns in the checks and balances.
Did Wall Street have problems? Yes, mostly because of the absurd pay incentives to various head honchos of investment houses (most of whom vote Democrat). The mega rich in the USA are Democrats, people.
Is the stock market stable? No and it won't be until someone figures out what the real Obama will actually do. In fact, our friends who invest through Schwab have been told no stock decisions for six months. Hmmmm what does Charles know that the press doesn't want many of us to know?
One can only hope that all for the country goes well without hurting our security. Remember, when you're #1, everyone comes after you. And, if your leader has no backbone, cannot make decisions, is careless with words, etc. all will target you. O, watch out. Your life, as well as ours and those of your friends (Rezko - convicted felon, Ayers - avowed anti-American, and Wright - questionable Christian pastor) now hang in the balance - that is dependent on the decisions you and your buddies will make. Our enemies care naught for political affiliation - they only respect strength. If you show weakness, we all pay.