Skip to main content

View Diary: Polyphemus (259 comments)

Comment Preferences

  •  Don't Count On It (8+ / 0-)

    Watch how they manipulate the market

    They have been trying frantically to do this, it isn't working. We still have what we have at the start of the meltdown, a 'crisis of confidence in the system'.

    the stock market will show a huge recovery

    To have a huge recovery, there has to be earnings. To have earnings, you have to have sales. To have sales, you have to have customers. To have customers, people have to have jobs.

    People are losing there jobs, and new jobs are not being created at anywhere near the rate of loss. This has been the case for almost two years now.

    gas prices will return to satisfactory levels

    It won't matter what the price of gas is if you don't have a job to be able to afford gas.

    The entire bubble of the past decade was built upon easy credit and debt. That is gone, nobody is going to be able to wave a magic wand and make it come back, no matter how much they may try to 'stabilize housing prices'.

    <div style="font-size:10px;text-align:center;background-color:#ffd;color:#f33">If the terriers and bariffs are torn down, this economy will grow - G. Bush

    by superscalar on Sun Oct 19, 2008 at 08:37:12 AM PDT

    [ Parent ]

    •  It's telling that (1+ / 0-)
      Recommended by:
      truong son traveler

      gas prices have not just moved off the front pages, but have pretty much exited the news entirely.  Even the MSM knows that right now, it's not even remotely relevant to anything.  The single biggest reason most people have a car, is so they can drive themselves to work.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site