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....I have not begun any economic threads in my blog, in approximately 4 months, because the topic seemed to "bum everybody out"....However, i think it is time to play catch-up....
....Personally, i believe that the economy is in worse shape, than 4 months ago....Another huge drop in stocks is on the horizon, i believe, and this mini-depression will probably continue until 2011...OR LONGER....I believe stock prices will drop to a level, LOWER THAN THEIR MARCH 9th LOWS....
....Corporations have done as much as they are able....huge layoffs....slashing all costs to the bone....and dividend reductions, just to name a few....In addition, corporations are NOT in a position to raise prices, due to the fragile state of the economy....
....President Obama is doing as fine a job as is possible....however, he can only do "so much"....Economic cycles need to play themselves out, and everyone is basically powerless to change the course of economic events....
....Where do YOU feel we are headed???
Jason says:
New Zealand is having a slight rebound from the downturn, and we might be in a state of slight recovery at the end of the year.
Of course we didn't print trillions to pay our debts. If nothing else this recession may finally see Milton Friedman overturn John Keynes as the economist of choice.
'CINDY ASHLEY MILLERpro replies:
Jason says:
Besides, I prefer to make my predictions about the future after it occurs. :-)
Artie_x says:
'CINDY ASHLEY MILLERpro replies:
'CINDY ASHLEY MILLER edited this comment 4 months ago.
Artie_x replies:
Obama's economic recover bill was pushed though congress as an emergency measure. People didn't have time to object to parts that didn't make sense and were not allowed to debate the whole concept. Emergency measures for a 2 year long recovery? Sounds like a scam to me.
'CINDY ASHLEY MILLERpro replies:
'CINDY ASHLEY MILLER edited this comment 4 months ago.
Slipery Mule says:
How is the introduction of prudent financial regulatory measures coming along in the US?
Jason says:
Note the use of the word "might" and the time scale. We are in a better position than many countries, we're not run by hard left socialists (more slightly right of centre socialists) and our banks haven't collapsed.
'CINDY ASHLEY MILLERpro replies:
Jason says:
'CINDY ASHLEY MILLERpro replies:
....Not being familiar with the New Zealand and Australian banks, and their investment portfolios, i cannot tell you, specifically, which defaulted securities could bring down a specific country's banking system....HOWEVER....i am sure, that thru securities' guarantees and re-purchase agreements, CITIBANK'S fingerprints are ALL OVER your country's banking investment portfolios....
'CINDY ASHLEY MILLER edited this comment 4 months ago.
Dave Griffith says:
Slipery Mule says:
In NZ our initial collapse is largely in finance companies.
Mum and Dad investors were told porkies about the level of risk exposure there savings were going to.
'Mezzanine' finance on construction projects fell over
Large sums were invested offshore in Freddy Fannie type 'safe' portfollios
Money supply is not nearly as much of a problem as it was 9 months ago, when even city councils could not raise finance.
If more US banks had failed we would have been toast. Thanks President Cindy.
Slipery Mule says:
Just maximising profit, pushing the boundaries of regulations....
...until regulations imposed after the 30's crash fail to be effective as intended.