Turned on my computer this morning right before the market opened, and I couldn't believe my eyes, GDP is -0.1%!!!! AND, jobless claims rising...
That's right, our economy is shrinking. And it is shrinking BEFORE all these added taxes such as the payroll rollback, obamacare, and state increases like in California...
I can't believe how badly they f'cked up our economy. Our government is spending BILLIONS per month in buying up mortgage debt, and keeping interest rates loans, and this is what we have??
But what the most insane thing is that the STOCK MARKET is about to beat its record while the economy is shrinking.....
Let me emphasize that again because it is important: THE STOCK MARKET IS ABOUT TO BEAT IT'S ALL TIME RECORD, WHILE THE ECONOMY IS SHRINKING"
Does that make any economic sense at all? Or we just in the mother of all stock bubbles again??
I also read today that 15% of school loans are now deliquent, and it is getting close to the size and percentage delinquency of the subprime market in 2008.
But why do I think its worse than subprime? Because people stopped getting those mortgages, but every 6 months another 1 million youths in america are taking out larger loans...
I think we are due for another crash...What do you guys think?
That's right, our economy is shrinking. And it is shrinking BEFORE all these added taxes such as the payroll rollback, obamacare, and state increases like in California...
I can't believe how badly they f'cked up our economy. Our government is spending BILLIONS per month in buying up mortgage debt, and keeping interest rates loans, and this is what we have??
But what the most insane thing is that the STOCK MARKET is about to beat its record while the economy is shrinking.....
Let me emphasize that again because it is important: THE STOCK MARKET IS ABOUT TO BEAT IT'S ALL TIME RECORD, WHILE THE ECONOMY IS SHRINKING"
Does that make any economic sense at all? Or we just in the mother of all stock bubbles again??
I also read today that 15% of school loans are now deliquent, and it is getting close to the size and percentage delinquency of the subprime market in 2008.
But why do I think its worse than subprime? Because people stopped getting those mortgages, but every 6 months another 1 million youths in america are taking out larger loans...
I think we are due for another crash...What do you guys think?