The stock market fell 323 Dow Jones points today. It was reacting to a terrible May unemployment report. The tally of private sector jobs was a mere 41,000. It was expected to be in the 125-250 thousand range. There is no way thye U.S. can grow out of this recession with those kind of employment gains. Consequently we will crash. Maybe revisit the market lows of last year. That would be an additional 3000 points lower from this level.
Obama, Pelosi, Reid et al who passed a costly health care reform but can't pass a necessary financial markets reform will be long remembered as two important reasons for the crash. Simply Americans have lost faith in their central government. And who can blame them.
Showing posts with label crash. Show all posts
Showing posts with label crash. Show all posts
Friday, June 04, 2010
Sunday, August 24, 2008
Moderation As A Goal
Too much of anything is bad.
Too much credit led to home buyers having only to sign a contract to assume title to multi-hundreds of thousand dollar houses. Even the stock buyers that led to the Crash of '29 had to put down at least 10%. And so todays foreclosures and credit crunch are a direct result of criminally-loose credit requirements.
Too many laws lead to a forsaking of the spirit of laws to a following of the fine points of laws or what is not technically covered. Consider San Francisco's legal profession community . Attorneys in S.F. take up 42 pages of fine print in the Yellow Pages. In contrast there are only 6 pages of electricians. And what do we get for all this legal "protection" from these roving hyenas? We get a "sanctuary city" where young, illegal, criminal immigrants are are allowed to grow up shielded from federal law enforcement so they can commit adult crimes. A society can exist with a spirit of fair play but not with a conniving legal- law-breaking mentality.
Too much concentration on national defense leads seamlessly to a C.I.A. that foments trouble that leads to war on a proactive and preemptive base. Better to spend military money on infrastructure improvement. Less opportunity for mischief.
Moderate is better than too much.
Too much credit led to home buyers having only to sign a contract to assume title to multi-hundreds of thousand dollar houses. Even the stock buyers that led to the Crash of '29 had to put down at least 10%. And so todays foreclosures and credit crunch are a direct result of criminally-loose credit requirements.
Too many laws lead to a forsaking of the spirit of laws to a following of the fine points of laws or what is not technically covered. Consider San Francisco's legal profession community . Attorneys in S.F. take up 42 pages of fine print in the Yellow Pages. In contrast there are only 6 pages of electricians. And what do we get for all this legal "protection" from these roving hyenas? We get a "sanctuary city" where young, illegal, criminal immigrants are are allowed to grow up shielded from federal law enforcement so they can commit adult crimes. A society can exist with a spirit of fair play but not with a conniving legal- law-breaking mentality.
Too much concentration on national defense leads seamlessly to a C.I.A. that foments trouble that leads to war on a proactive and preemptive base. Better to spend military money on infrastructure improvement. Less opportunity for mischief.
Moderate is better than too much.
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