Posts Tagged ‘Stock Markets’

TODAY’S USEFUL IDIOT: Steve Kangas! Oh wait…

March 7, 2009

I was browsing around the internet today and I ran across this pathetic attempt to re-write history and paint the moron Carter in a better light.

“Carter cannot be blamed for the double-digit inflation that peaked on his watch, because inflation started growing in 1965 and snowballed for the next 15 years.”

Having lived through these years, I clearly remember what a disaster Carter was.

“In 1980, the ‘misery index’ — unemployment plus inflation — crested 20 percent for the first time since World War II. Ronald Reagan blamed this on Jimmy Carter, and went on to win the White House. Reagan then caught the business cycle on an upswing, for what conservatives call ‘the Seven Fat Years” or “the longest economic expansion in peacetime history.’

Were either of these presidents responsible for their fortune with the economy? No. Carter battled the peak of an inflationary trend that began in 1965. In the following chart, take special notice of the long, slow climb in the inflation column…”

Carter didn’t battle the peak of an inflationary trend that began in 1965, HE CAUSED THE PEAK(S)! Reagan didn’t catch the business cycle on an upswing, HE CAUSED THE ECONOMIC UPSWING. I was there, I remember! The markets (and pretty much everyone) were so happy to be rid of Carter that things just got better on the news. Hell, even Iran returned the hostages on the news of Reagan’s win.

Anyway, not being satisfied with actually living through it and knowing what happened, I looked at Kangas’ own data. Here is a graph, made from Kangas’ own data, that pretty much proves Carter was the force behind the economic disaster that was the 1970s.  PLEASE NOTE: Unlike the presidents, Nixon, Ford & Reagan, Carter’s I*U line only increases.

gloriouscarteryears1

[Un]fortunately, this nut-ball Steve Kangas died in 1999 so this award has to be awarded posthumus. It will still be awarded because some other kook is keeping his site up and running.

Advertisements

Bob Lang’s “Buy Bread Now”

January 16, 2009

Why the Mortgage Crisis Happened

January 16, 2009

The best analysis of why the melt-down happened-

“The narrative is of another socialist experiment failed, this time a massive federal effort, imperiling the whole US banking industry. Facing this economic disaster, will an informed American people put their trust Obama’s socialist ideology to bring remedy? To do so is to trust in an acetylene torch to put out the fire.”


THE ARTICLE: Why the Mortgage Crisis Happened

Altas is Shrugging

January 14, 2009

Many of us who know Rand’s work have noticed that with each passing week, and with each successive bailout plan and economic-stimulus scheme out of Washington, our current politicians are committing the very acts of economic lunacy that “Atlas Shrugged” parodied in 1957, when this 1,000-page novel was first published and became an instant hit.

The current economic strategy is right out of “Atlas Shrugged”: The more incompetent you are in business, the more handouts the politicians will bestow on you. That’s the justification for the $2 trillion of subsidies doled out already to keep afloat distressed insurance companies, banks, Wall Street investment houses, and auto companies — while standing next in line for their share of the booty are real-estate developers, the steel industry, chemical companies, airlines, ethanol producers, construction firms and even catfish farmers. With each successive bailout to “calm the markets,” another trillion of national wealth is subsequently lost. Yet, as “Atlas” grimly foretold, we now treat the incompetent who wreck their companies as victims, while those resourceful business owners who manage to make a profit are portrayed as recipients of illegitimate “windfalls.”

THE ARTICLE: ‘Atlas Shrugged’: From Fiction to Fact in 52 Years

Stock Market Drops On News Of Obama Win

November 6, 2008

"I'm for the middle-class."

The stock market plunged about 22% today after the election of Obama. I would guess that people are realizing that he’s going to raise the capital gains tax.

This is/will decimating middle-class retirements. Why? Because the middle class’ retirements are almost entirely in the stock market whereas the ‘rich’ can afford to spread their money into other things like real estate and not entirely into the stock market.

Get ready, it’s already starting.

The Stock Market Melt Down, It’s A Good Thing…

October 10, 2008

Everyone is panicking about the stock markets dropping across the world. Well, they are idiots. The current fall of the stock market is a good thing, here’s why-

1) If you hold money right now, you’re an idiot because the value of the dollar is dropping due to the flood of bail-out cash. That dollar will never gain it’s buying power back, the best it will do is become stronger against foreign currency but, the loss of buying power (the only thing that matters) is gone.

2) Your stocks are down and as long as you don’t hold dog financial stocks, they will recover. The market has always recovered and gotten higher. If you have done the right thing and DIVERSIFIED your portfolio, you’re in great shape. You’re money will come back.

3) If you don’t own stocks, NOW IS THE TIME TO BUY! Everything is down and there’s a lot of bargains! The markets may go down a little more but, they are going to go up much higher in the future. Except for the people holding stocks of the failed (non-bailout) companies, everyone else is pretty much a moron for selling at the moment. They are selling off their investments at a low price and converting them into dollars which are (and will) lose buying power.

I am not offering any financial advice nor am I a stock broker or investment professional but, these are my observations.