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Planes, Trains And Stock Markets

September 21, 2011 by  

Planes, Trains And Stock Markets

Autumn is nearly here, and I am reminded of stock market crashes and one near plane crash.

The September equinox marks the anniversary of when my Uncle Richard and I took off from the homestead runway in his Cessna 172. No sooner were we airborne than we heard the stall horn howl inside the cockpit. The ear-piercing squeal told me something I already knew: Our airplane was falling from the sky. In scant seconds the plane’s landing gear slammed onto the wheat field.

No sooner were we down than the airplane bounced skyward. A lucky gust of wind grabbed at the wings; and, almost as quickly as we fell, the plane began to climb.

Later, I realized how fortunate we were. It wouldn’t have taken much to turn that propeller into a plow.

I haven’t had such a close call since, yet I have a lot of anxiety these days — not about flying, but about the stock market.

The first thing I do each morning is turn on the business channel to see if the Dow Jones industrial average is having another bad day.

You don’t have to have an MBA to know that the air keeping the stock market aloft is growing frightfully thin. Worse yet, the people flying “our” plane are acting reckless. So, each morning, I brace myself for the bad news that Wall Street’s stall horn is blaring. There won’t be a damn thing the President, Congress or corporate leaders can do about it.

Brace! Brace! Brace!

The one good thing about the terror I felt that day in the plane is that it was over quickly. The worries I pack around with me nowadays are different because I can’t shake them.

I suspect that some of you feel like I do: that with President Barack Obama at the controls, the country is spiralling out of control.

But our problems are deeper than having Obama as President. The economy is providing no lift to the stock market, and the nation is carrying so much debt that I don’t believe changing pilots will help much. I don’t think that a true Conservative or a Tea Party candidate in the White House in 2012 will save us. So hold on tight; we are going down.

The Fear of Flying

While I am no engineer, I understand a few things about airplanes. They have to be flying fast enough or else they stall. Right now, the stock market — a leading indicator — is telling us that the economy is stalling.

The Credit Crunch has ended but the Debt Disaster is pushing uncertainty strong upNotice the graph above. It measures the volatility of the U.S. stock market over the past 21 years. As you can see, equity investors have only had one worse case of the jitters since 1990, and that was in the midst of the credit collapse in 2008. Last week, the EconoMonitor commented on the current investment and economic climates:

The past summer has been filled with bad news, the current economic slowdown, financial stress and political tensions in Europe and the U.S. are in fact the logical extension of the first leg of the crisis that hit in 2008-2009. There is one major difference, though: the policy tool box to deal with financial and economic shocks is now significantly smaller than it was in 2008. Interest rates are at 1.5% in Europe, 0.5% in the UK, and 0.25% in the U.S.

In Europe, banks own large amounts of sovereign debt, which creates the possibility of a self-fulfilling crisis of bank runs and bankruptcies if fears of default on sovereign debt leads the interest rate on this debt to increase, causing a default and bank runs.

As you can see, interest rates have been cut to almost zero, and central banks can’t make money any more affordable than it is. That leaves governments with one option, injecting even more money.

Money Needs Velocity

Let me use the airplane analogy one last time. A plane needs to be going fast enough for the wings to provide lift. The economy needs velocity, which is money moving throughout the economy. If Washington pumps a lot of money into the economy but nobody spends it, it won’t provide any lift to the economy.

The United States has lots of money sloshing around. The Federal government has injected well over $1 trillion into the economy in the past three years. But the government cannot get people to spend or lend money. If these huge injections of capital get stashed in mattresses, the economy stalls. That is what is happening.

This is reflected by the consumer confidence graph below. It shows that only once in over a decade has consumer confidence been lower than it is now. Obama’s pledge to uplift America and bring new confidence to the country is nothing more than an empty promise.

United States Consumer ConfidenceBanks are not lending, and consumers are not spending. That means the American economy is set to crash.

Given the multitude of economic problems facing the United States, plus a real lack of leadership in the White House and Congress, I believe we are headed for tough times. September and October historically have been bad for stock investors as far back as 1929. As an investment writer, I have experienced market crashes three times: in 1987, 1989 and 2008. I think there is a good chance the stock market may crash again in the weeks ahead.

Action to take: Continue to hold precious metals and, in some cases, stocks that are leveraged to rising prices for real assets (petroleum, gold and other hard asset companies). Liquidate all other U.S. paper instruments. U.S. interest rates may soon spike, so I urge you to sell bonds other than cash you have tucked away in three- to six-month U.S. Treasury bills.

Next year is shaping up to be a bad year for U.S. paper instruments. Anxious investors are already disrupting the markets. I would not be surprised to see U.S. stock indexes fall below their March 2009 lows (the Dow industrials hit 6440). Don’t be surprised by a 50 percent correction in blue chip stocks. Long-term bonds — with maturities of more than 10 years — may fall in equal measure.

Yours in good times and bad,

–John Myers
Editor, Myers’ Energy & Gold Report

John Myers

is editor of Myers’ Energy and Gold Report. The son of C.V. Myers, the original publisher of Oilweek Magazine, John has worked with two of the world’s largest investment publishers, Phillips and Agora. He was the original editor for Outstanding Investments and has more than 20 years experience as an investment writer. John is a graduate of the University of Calgary. He has worked for Prudential Securities in Spokane, Wash., as a registered investment advisor. His office location in Calgary, Alberta, is just minutes away from the headquarters of some of the biggest players in today’s energy markets. This gives him personal access to everyone from oil CEOs to roughnecks, where he learns secrets from oil insiders he passes on to his subscribers. Plus, during his years in Spokane he cultivated a network of relationships with mining insiders in Idaho, Oregon and Washington.

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  • FreedomFighter

    “Obama’s pledge to uplift America and bring new confidence to the country is nothing more than an empty promise”

    So far, Obama has done exactly what he said he would do, fundamentally change America. The ObamaZombies just didnt ask what kind of change is it:

    From a productive free nation under the constitution to a totalitarian Marxist nightmare of universal poverty, lorded over by Commrade Obama and his elite minions, all under the control of the NWO puppet masters.

    Laus Deo
    Semper Fi

    • Al Sieber

      I agree, What he meant by change was you won’t recognize this country after he was through with it, his wife said the same thing. I expect the market to crash by either the end of Oct., or mid Nov..

      • Al Sieber

        Incidently, John Myers I had the exact thing happen to me, one minute you’re in the air and the next you see the ground coming at you, the scariest sound is that stall horn.

      • Kate8

        Al – Do ya think we might be in for one whopping October surprise?

        It’s about time to batten down the hatches and hold on, I think.

        • Average Joe

          Kate8,
          I am willing to wager that the October suprise will be …Israel , attacking Iran (sometime in October or early November).
          I was reading an article about a month ago (sorry I couldn’t find it to post) which stated that during the break in congress after the raising of the debt ceiling, a good many of our representatives in DC took a trip to Israel…instead of going home….to their constituents…in order to discuss the regional “security issues”. I truly believe that Israel is preparing to attack Iran….and the US was there to insure our “cooperation” in the matter.
          After all, we need a reason to spend more money (that we don’t have )….buy some new toys (weapons) for our miltary boys to play with…and kill some more people (because we can)….seems to me the quickest way to finish off the nation financially.
          I truly hope and pray that I am wrong….but considering our long history of starting new conflicts in the region….it just seems to be a forgone conclusion ( after all, we have spent the last 10 years “surrounding” Iran with our military forces). This would be the final nail in the coffin for the US….since it would wipe us out financially…creating widespread riots as the economy collapses and people are left without any government assistance at all…this will lead to Martial Law…and the end of a Republic and the beginning of the reign of King Barry….Welcome to the Islamic States of America…..

          Keep your powder dry….and safely hidden…..

        • Al Sieber

          Could be Black October again, and Average Joe has a point too.

      • http://Chevyek Ed Kypers

        I believe it could be October. And between printing trillions(QE1 & 2) which will devalue our dollar, predictions of the end of the world on 10/21 or 12/21, & OB’s daily plans to ‘fundamentally change’ America, looks like a few rough years ahead.

    • http://None Ed Kypers

      I couldn’t have said it better. And as the great (now fired & replaced with a liberal Democrat) Steve Malsberg once said ‘OB does not set his feet on the floor each morning before thinking of another way of destroying America’

  • Jack larry

    Obama, loves his country, it just isn’t the United States. His bowing to the Saudi prince and his highly inflationary Obama care plus quantitative easing should pretty well bring down our country economically. The most surprising thing to me is how he (our president) could have such a high approval rating when you have inflation, high unemployment, oil companies unable to drill because of beaurcratic red tape and a president so out of touch of what the people of this country want. Personally, don’t think it will matter who are next president will be, because the damage is already done and will take quite some time to reverse his anti american policy.

    • Ret

      Is it a real approval rating or just more spin? Maybe they only surveyed illegals on welfare and food stamps who want a raise.

    • 45caliber

      Keep in mind that his approval rating is due to polls. And polling companies are paid to reflect the direction that the person paying for it wants it to show.

      Considering that the polls are being paid for by the Demos, the fact that it is as low as it is tells us that the people REALLY don’t care for Oblama’s policies. A truthful poll might show a lot fewer like him.

      • independant thinker

        Something else to consider: are they talking about his personal approval rating or his job performance rating. His personal rating is always many points above his job performance raiting.

        • Average Joe

          Is that like saying,” Barry, you’re a really nice boy, but everything you touch turns to crap”?….One and done!!!

      • eddie47d

        There you go again Caliber spinning tall tales. Most polls are national and Independent not put out by “Demos”. Both Democrats and Republicans have there own pollsters and we see them in the mail or on line but targeted towards their constituents. Those do favor one party over the other.The Pl site has those kinds of push polls also.

        • Nadzieja Batki

          If you want a certain answer to your question, ask the question that will give you that answer.
          Polls are done for the benefit of people who pay to have them done.
          Dems care very much about O ratings.

          • 45caliber

            Correct. eddie either doesn’t know what is going on or hopes to prevent others from knowing.

          • Jay

            I would say both, which pretty much makes eddie the village idiot!

          • eddie47d

            Wrong again Jay! You just claimed the title for there is nothing inaccurate in what I said.

        • Donald

          Eddie your are right. Major independent polling companies have contracts with a variety of media outlets and educational institutions who are looking for accurate data, not stuff to satisfy particular constituents. Heck, even the political parties need independent data for the party leaders besides the stuff they feed to the party faithful to kep them involved.

          • eddie47d

            Thanks Donald

  • http://aol.com sean murrey ILLIniois

    This country is going down by obummer it will take time to clean up this mess by obummer.

    • Robert Smith

      The “mess” wasn’t made by Obama.

      The mess is caused by the gamblers on Wall Street who want to make money without contributing a product, produce nothing, and then don’t pay taxes on their gains.

      They are LOOTING America.

      Rob

      • Ret

        Because they’re ALLOWED to. The SEC looks the other way, TARP and bailout money comes out of our pockets because of the long line of presidents and congresses, like obummer allow it. Read up on Bernie Madoff, requests for the SEC were made 10 years before his fall, and were ignored. Read up on the Rothchilds, and 1913, with the creation of the Fed. It’s pretty disgusting. They’ve all taken us down the slippery slope, but he’s just doing it faster and with impunity. His total disregard of the Constitution gives us no redress.

        • Buddy

          You’re probably correct. The end of regulations was started in Clinton’s administration and was furthered with the Dodd-Franks bill. I guess Dodd got a few bucks from the financial crooks.

      • eddie47d

        So Ret what are Americans going to do about the SEC and there devious ways? Obama tried to fix the problem and the Republicans shouted him down. They didn’t want any reforms on Wall Street so now it is once again business as usual.

        • vicki

          Since obama had access to a Democrat super majority in the house and a Democrat controlled, filibuster proof senate for more than 2 years, please do explain how the “evil” republicans “shut him down”.

          • Nadzieja Batki

            Who would the Dems and O blame if there were no Republicans around? The Dems are like little children who need someone to blame when things do not go their way

          • eddie47d

            Many reforms or bills need a super majority to get passed so it only takes a few votes to sway the outcome one way or the other. You should know that the Republicans seldom break ranks even if it for the good of the country.

      • tsunami

        Robert You must understand that this problem has been coming for a very very long time and no one person nor part of society is the sole cause.

        When you build a society on debt with entitlement expected and little to nor self discipline is sooner or later has to be the end result.

        I am not American and neither Liberal nor Conservative and have tried to study this from a non partisan standpoint and I can say that many Presidents took advantage of your society and its lack of discipline and self control.

        Where I do blame Obama is that he is the wrong man for the job and does not understand the real problem and therefore cannot come up with a solution.

        He also has appointed a whole contingent of knotheads which surround him who also neither understand the problem nor can propose a solution including Tim G, and Ben Bernake and a number of others.

        This column is perhaps the best analysis of the issue I have seen and appears to be non partisan.

        • Ret

          Thanks for your input. My personal feeling is that they’re dumb like a fox, and want to perpetuate their self aggrandizement. Actually, if it had been done right, it’s a Democratic Republic based on the Constitution. The Republic part has been washed down the drain along with the Constitution, which is ‘supposed to be’ the basis of law.

      • Capitalist at Birth

        Ignorance is bliss? Your lack of knowledge on what caused the economic downturn and Economics in general is not surprising. It is sad, however.

  • http://bobLivingston Power to the People

    Obummer is what he promised to be…a savior of the far left whom have dreamed of this day. We have been slowly sinking into a pit for many years driven by both parties. Many Americans share responsibility for our mess. All those who pay no taxes but get benefits; the political hacks who promise everything; the greedy who never have enough; the unions who demand more while producing inferior products; the leftists who can’t spend enough; I can go on and on. Yes, it will take a long time to turn this ship around. My fear is that we must hit rock bottom before the course is changed and we are not there yet.

    We can not give up…never give up!

    • Robert Smith

      Power says: “Yes, it will take a long time to turn this ship around.”

      The ship will turn around when an actual product or service is produced for the money that is taken out of Wall Street.

      Can anyone around here tell me what Main Street gets from all those fat cats looting Wall Street? Of what benefit to America are deratives?

      Rob

      • Ret

        How about when the laws are changed. GE paid -$0- taxes, and got a rebate. They’ve taken most of their jobs overseas. 2010 law states that anyone between $0-8375 must pay 10%. So companies get slave labor for a few dollars a day, and pay no taxes. Who’s fault is that? Derivatives and such are ALLOWED by the government, who’s fault is that? Jobs stimulus plans brought more jobs – to the government. August – 0 job growth. As long as the big boys buy the government, nothing will change. They’re at the front of the welfare line, and will take anything they can get – billions, and soon coming to your theater, they’ll probably try for trillions. Big daddy government, will do his best to accommodate.

        • eddie47d

          GE has not taken the most jobs out of the USA.That’s been an on going process for decades and with several companies. The derivative problem was part of the package that the Republicans refused to change so it is more business as usual for them.

          • Ret

            No kidding. I can’t site all of them, but that is the one that comes to mind right now, because of the situation we’re in, and because they got a frigging rebate on taxes they didn’t pay. Some poor slob who made less than $8,375 has to pay 10% adjusted. Look it up on the tax tables.

            I’m very pro business, understand why they go out of the country, but resent like hell that they don’t pay SOME taxes, per the tax code, and get a rebate??? This I also blame on obummer, he’s nothing but a shadow of Bush and the others, only he’s trying to one-up them and ruin even more.

          • Capitalist at Birth

            Did the Republicans or Bill Clinton, revoke the Glass-Steagall Act, which made these type of investment schemes legal along with Credit Default Swaps? Your ignorance is not surprising.

          • vicki

            Keep in mind that companies do NOT pay ANY taxes. Ever. The customers pay the taxes by buying the products of the companies. Thus you see that you as individuals pay a LOT more of your earnings to the government in taxes then just your income,property,sales taxes etc.

            That being said we really have to ask why any company (GE?) gets a tax rebate and did they actually lower prices to the customer to return that rebate to the people who PAY the tax.

      • Michael J.

        Robert Smith said:

        “The ship will turn around when an actual product or service is produced for the money that is taken out of Wall Street.

        Can anyone around here tell me what Main Street gets from all those fat cats looting Wall Street? Of what benefit to America are deratives?”

        Markets across the globe operate in the same manner, do you intend to fix all of them? Pretty tall order, even for a Wiccan. Best devise some new spells and incantations.

        BTW, phonetically speaking, the word is spelled der-iv-a-tives.

      • Nadzieja Batki

        Do you even know anyone that works on Wall Street? Your twerpy little mind just can’t resist transferring Envy and Greed that you feel to people you do not know.

    • http://www.motorcarsfinancial.com Brad

      Is rock bottom going to be a Civil War?

  • Karolyn

    The best thing to do is not succumb to the doom and gloom. Go out and spend what you can; and buy MADE IN THE USA! ABC continuing with its “Made in USA” series, promoting American-made products and exposing places that only carry foreign-made products, like certain college-backed catalogues. If every American spent $3 per week on Made in the USA, it would create 10s of 1000s of jobs, if not more. Sorry I don’t have the numbers here – I don’t remember and no time to look them up. $3 a week is not much to ask. Personally, I’m trying to spend at least $10 per week on Made in America.

    • http://www.easyinvest.co.za peter

      You go girl – charity begins at home and when the USA starts to support the USA instead of buying junk from overseas then it will be doing a lot of good for the USA. Why pay the Saudi’s for oil when you have it underfoot?

      The problem is that the USA was always reknowned for quality products and solid engineering. The mistake they made was believing that they could get the same quality at half the price overseas – wrong. People still require value for money and are prepared to pay for that quality. We have no Chinese products in our home at all.

      Bring back the pride and get to work – support your own. It won’t only help, it will make you feel better too.

    • 45caliber

      Karolyn:

      Spending is considered economic confidence. Trust me, my wife feels quite confident in our economy! I, however, do not. As a result, I will continue to put off any major expenses if I can for the time being.

      However, I do agree about “buy American”. The only problem is finding stuff made in the U.S. Even many of the items that pretend to be made here are not. The only American made car is foreign owned. All electronics, as far as I’ve looked, are foreign. Clothing is all foreign now. Etc.

      • independant thinker

        There is still some clothing made in the US although it can be hard to find. One thing that comes to mind off hand is some models of New Balance shoes are made in the US. I always look first to see if a product is made in China then look for made in the US.

    • Scott in SC

      Karolyn,
      I agree, buy American but as others have mentioned it is sometimes difficult. My last purchases were all American, canning jars and shotgun shells. I try to go to Oslo’s once a week for chicken wings and Sam Adams, and of course tip the waitress, bartender and buy a beer for the cook.

    • Nadzieja Batki

      Made in America but globally sourced. Semantics aside, a lie is still a lie.

  • willie

    I have much anxiety these days also. Like John I turn on the TV in the morning with a cringe and one eye closed with my fingers crossed that the whole world is still spinning on its correct axis. And i agree that it doesn’t matter who takes over the white house, things are just too bad to be corrected without a major disruption in everyones life. Obama has succedded in ‘fundamentally changing the country’. Good luck everyone.

  • home boy

    what did you expect john. the stock market drives on human emotions. have you heard of the expression , don’t bet on human beings, well you are when you play the stock market. the only difference between the stock market and las vages is in vages you loose your money faster. think about what your into. most companies are trading 20 to 30 times their actual worth. take for instance exxon/mobil. if you look at their balance sheet the stock is really worth a little over $4. but the stock is trading at $73-74. so yes it is volatile . add in the obama equation and a volcano erupts.. if i where you i’d stick with airplanes. i cash all my stock a year ago and now i have my sanity back.

    • Al Sieber

      All the stock market is home boy is a rigged casino game in their favor. I’d rather go to the casino and play poker, which I do once in a while, or the slot machines, you have better odds.

    • eddie47d

      Wall Street is run by manipulating cons yet our country still uses it as an economic weatherman.

  • Herk Schmidt

    The perception of a stable and healthy economy are directly impacted by a strong and rising stock market. The Fed chairman has stated that
    perception is paramount over reality, and if you can control what people think you can control how they act, and stabilize the economy, especially when things are not good.

    Is it plausible to think that the government supports the stock indexes through various means, to control investors perception of reality and there by, their actions, making investors believe that all is well ?

    I wonder how much of the money being printed and borrowed, is actually being fed into these stock indexes through various back door means to alter the peoples perception of reality, and is this the next huge bubble ?

    Just curious ?

    • bob wire

      They are not buying that here Jan.

      We don’t discuss recent “track record” here. Since it can’t be defended or boasted about, it’s easy enough to understand why.

      All of today’s problems started on February 28th 2009 when Obama was sworn into office.

      If you are not drinking our kool aid, you are drinking the wrong kool aid.

      We bash anything and everything except what we support. And that’s not very much but we call it personal liberty and freedom unless you are a fairy or just don’t drink our brand kool aide and then we don’t agree with your need for liberty and freedom.

      • Al Sieber

        No, all our problems started in 1913 when we allowed the Fed. Reserve to take over our money.

  • jan

    Hey everyone: why you folks are bashing Obama? This poor guy got this debt inherritance from the real crook of the economy: W.Bush.
    He went to war and increased the county’s debt burden!
    Wake up! Obama tries to save the avalange started by W
    God bless the poor soul…

    • Barb

      Boy did you get on the wrong site! Go back under your rock and continue playing with yourself! Sheeeeeeesh!

      • eddie47d

        What she said was true but she left out the rest of the story. That is common with most who post here.

        • Buster the Anatolian

          And you do it more than anyone else eddie.

          • eddie47d

            Oh Please Buster stop showing your ignorance.

    • 45caliber

      jan:

      How much do you get a month from the government? And how much has it gone up since Oblama took over?

    • Jibbs

      Big lipped barry said he was going to end the two wars started by Bush, instead he sent more troops to war and gave us two more wars. Please name one positive thing that barry has done for our country.

      • eddie47d

        Nixon promised to get us out of the Vietnam War but only increased the casualties.Never trust any politician when they make those false promises.

        • Jay

          Would that include obama?

          • eddie47d

            Yes Jay the troll. I believe you have asked me that before or was it your twin brother.

          • Jay

            eddie, would that include obama?

    • Ret

      Yes, siree, jan, maybe USA hating Rev Wright should bless his poor soul. Even though you won’t want to be confused with facts, here’s a few:
      Obama’s National Debt Impact
      Upon Inauguration: $10,626,877,048,913
      As of Sep 19, 2011: $14,729,488,947,752
      In 2.7 yrs Increased: $4,102,611,898,839
      George Bush (8yrs): $4,899,100,310,609
      TheObamaDebt.com was created to track the National Debt on a daily basis from the inauguration and during the Obama administration -

    • http://www.motorcarsfinancial.com Brad

      WE have a DRONE named Jan among us!

      • bob wire

        What to Flock do you think this is Brad?

        Tick Tock the game is locked and no one else can play?

        This is a public forum, ~ and if you think it’s fun to gang up and pick on someone, pick on me Brad.

        Jan has an opinion and is entitled to it. Discarding the fact that what she say was true, she has as much right here as you do even if it was false.

        Brad you didn’t offer this forum one word of “light” but only darkness. .

        You agreement to what is spoken is not required but you better except it as a fact Jan has the right to speak.

        You need to need to understand the principles of personal liberty and freedom if you expect to defend them, Brad

        • Scott in SC

          Bob,
          I love the way these freedom loving constitutionalists bash anyone who holds a different opinion and believe that only they should be allowed to post comments. I’m sure their lifes ambition is be one of the thought police.
          The only thing that matters is the Party.
          WAR IS PEACE
          FREEDOM IS SLAVERY
          IGNORANCE IS STRENGTH
          BIG BROTHER IS WATCHING YOU.

    • Robin from Arcadia, IN

      jan… Do you live on this planet? You can’t be serious? Yes… anyone with half a brain knows that the second term Geo. Bush served things started going very downhill. Have you considered that he was dealing with a Democratic Congress? Not that it gets him totally off the hook, but is was a big part of the problem. And as far as ‘wars’ go. What do you call Libya? Can’t blame that one on President Bush! Barry is not cleaning up any messes; he is only making bigger ones! If that is not obvious to you, then you are spending too much time listening to the MSM!

      • bob wire

        Give me a break, ~ dO YOU REALLY KNOW PEOPLE FROM OTHER PLANETS Robin?

        So “W’s” 1st term ~ had little to do with his 2nd term? They were completely SEPARATED!!!! ????????????????????

        Wasn’t it during his 1st term that he committed America money and military to the middle east? ~ During the 2nd term did we not hear ” Support the troops , Support the troops!” ~ The Democrats are not wanting to support the troops! ~ They are un American , not Christians!. ~EVIL!!! MEAN! nasty! OLD dEMOCRATS.!

        Maybe you do have some off planet ‘friends” Robin.

  • Barb

    When we started investing, the first thing our broker told us was: Do not watch the stock market on TV or the news. If you invest right and diversify you’ll be OK. We don’t watch and we are still gaining, not loosing, it’s not much but it’s better than loosing any day. Several of his clients panicked and they lost a bunch. Just like with everything else these tumultuous days the best advice is stay calm, hang tough, don’t give up whatever you do and pray for a miracle or at least a well trained hero! America will prevail, we have to!!

    • bob wire

      Right Barb! You can’t respond to every little bump in the road.

      These people that have knee jerk reaction to everything wear themselves and everyone that’s around them out!

  • Mirage

    Advising people to buy gold as a safe guard against “end of days” type forecasts is a farce. However, this mentality fits in nicely with all the other stuff they’re hawking, like the relief from urinating-in-the-night-medication, or the $200 dvd series – where upon listening to it, you will basically rid your mind of all it’s rainy days.
    Between their doomsday predications, and their “herbal advice” on how to basically live almost forever, I don’t know wether I’m comin’, or goin’. Should I prepare for the sky falling, or bingo @ 107 years of age?
    If this nation implodes (a possibility), like they are suggesting (if Ron Paul doesn’t win), I can tell you the most valuable metal(s) you should buy. Put your money in copper,lead, brass, and a first rate dispenser! Buy just enough that you can physically carry, along with food and water of course … the key is mobility.
    Copper and lead are precious metals when combined with brass, gun powder, a first rate dispenser, and the tallent to use them. Together, they trump all the gold you could stock pile in your home, which will be, the fist place desperate people will come a-knockin’.
    Ooops, time for bingo, gotta go … hey, I think they just called my number … did someone say 666?

    • Jibbs

      Very well said, but I would ad that you should buy several dispencers on the same model. One for each side of the house and one for parts or back up.

    • http://www.motorcarsfinancial.com Brad

      Mirage

      Know where I can buy a rather long range first rate dispenser?

  • tom

    jan,
    Keep drinking that kool-aid .
    tom

  • Henry Ledbetter

    I would highly recommend the bank of heaven where moth’s, rust, corruption and thieves can;t break in and steal. The benefits are out of this world and eternal. In the mean time “NOTHING IS IMPOSSIBLE WITH GOD.”.

  • bob wire

    So ? what is it going to take to get more air under the wings?

    What can the president or anyone for that matter do about it?

    I am spending and saving to pay projected tax burden. I can do no more other then simply work harder and do more. But at 63, my 14 and 16 hours days are fewer then ever before. There is no guarantee that working long and harder would create profits/personal wealth.

    Working your fingers to the bone only get you bony fingers.

    I feel that I’m doing what I can afford to do without over extending myself.

    If you have the altitude, you point her to the ground, gain the speed to get the “lift” avoiding this stall, spin , crash and burn.

    So what America’s elevation? Do we have the time? ~ If people are waiting until 2012 and Dick Perry or Ron Paul to take charge, they might as well punch-out now and float to the ground. Save your life and don’t worry about your plane. As I don’t see them in control of the dynamics that’s creating this fall either.

  • http://www.throwallbumsoutofoffice.com Ron

    I wholeheartedly concur with the premise that the US Economy is troubled in the hands of an inexperienced pilot. But the end result is not necessarily conclusive in another crash similarly experienced before the great depression. We have at our disposal all the elements for restoring the economy to its former greatness as a highly functional leader in the world market. The criteria for success is embodied in our market system. Yes, yes, I know, there are serious flaws in a purely Capitalist system as long as lack of integrity and greed remains foremost as a motivating force for production, distribution and consumption. The elements to which I am referring are:
    1. returning to a moral fabric that is not apparent in our current political structure that has hastened and invited this climate,
    2. releasing the entrepreneurial spirit that has impassioned this country in the greatest economic expansion the world has ever witnessed, and
    3. allowing individuals the courage and fortitude to think and act in their own behalf without the iron fist of government.
    All the necessary capital is on the sidelines just waiting for the opportunity to release the pent up enthusiasm for success. Just check the capital position of the banks and the cash on hand of the corporations. Scale down the size of government at all levels. And teach self-reliance at all levels of society – schools, business and throughout life. Start first with removing Career Politicians and those opposed to term limits. Deconstruct the onerous rules and regulations that at its inception had promised but have been so distracted from their original intent that they have now become obstacles to success.

    And, most of all visit my website and become inspired again the our future prospects are indeed possible if we unite around a common cause to take back America. http://www.throwallbumsoutofoffice.com Become a member of the Taboo Party. Taboo is an acronym for Throw All Bums Out of Office.

    • Randy Huffey

      Obama as pilot of this economy is not much different than the Muslims that flew the planes into the towers! This is an intentional attack. Those that think Obama is a blundering idiot are way behind. He is piloting this economy to a catastrophic crash! The media is the co-pilot. Congress is asleep in the navigator’s seat. “We the People” are the passengers. It is beginning to look like the passengers are going to have (to try) to take over the plane.

      • Ret

        When and where? I ain’t what I used to be, but will be there anyway. Let’s roll.

        • Lost in Paradise

          Exactly! I will be at your side with gun in hand. THis crap needs to stop now, and the existing government needs to be replace by one that believes in the constitution.

      • http://at&t Gene Barrett

        Hey people we had better get an impeachment thing going and put Bill Crosby in Obummers place so we have some choices in 2012 with bummer
        out of the picture. I will serve on the impeachment board. He has
        to go.

        • eddie47d

          There is a crises of confidence in the USA and I doubt if the economy will be any better next year. The Fear Factor is alive and well in the minds of some Americans and we are pounded daily with negativity. Is it all Obama’s fault not hardly but he does need to take a stronger leadership role. Corporations and Banks are loaded with money and Interest rates are unbelievably low.I seldom enter a Mall but when I do I see people with bags of goods so somebody must have money. Another side of the American dilemma could be that folks are saving instead of spending or maybe they are paying off old debts instead of making new ones. That would be a good sign of being responsible. We took our granddaughter shopping at Hollisters and she bought $150 worth of clothing and the bill came to $32.Sales and coupons is the only way to go.

          • Jibbs

            We do the same thing, wait for sales and use coupons.
            BTW I noticed yesterday that Heilmans mayo went from a 32oz. jar to 30oz. but the price stayed the same.

          • Michael J.

            Jibbs,
            Amen, I have noticed the same thing. Everything is getting smaller. How’s this gonna work? Bought some toilet paper the other day which was noticeably smaller, butte my azz is still the same size.

          • http://?? Joe H.

            Jibbs,
            Maxwellhouse coffee’s 32.5 ounce plastic can of coffee is now a 20 oz and it is more expensive than the 32.5 was last year!

          • eddie47d

            That is the Capitalist way of doing business. No surprise there.

  • Larry

    Herk, I have felt for sometime that the main impadence for the stock market to ralley is because of government and banks interference. It seems to me that we have government in control mode and is sticking their nose into every aspect of our lives trying to keep us under their control. We can only hope that a sufficient number of our citizens will wakeup before it is completely too late.

  • robert shrugged

    this problem is caused by liberals and rinos who want to buy votes and do not care what happens just as long as they get all their perks and keep their power over the poor voters who think they are getting help when in fact they are going to be the ones who suffer the most. the poor do not make jobs, people who have money to start or expand their businesses make jobs, as well as the very wealthy who invest in the stock market to earn more money. they do this because they want to have a good life and that means they pull the rest of society up along with them. if you were a business man and you knew that you were going to get screwed by the government and the masses what would you do? you would just put your money where you knew they would not be able to do much damage to you, and that is what will happen if obama gets elected to a second term. you all have onc chance to do it right and help this country move foward slowly, but surely. clean out the liberals who hate success by business because they are not able to do what bussiness can do and thet is make money and make jobs for americans.

    • M.D.

      How refreshing. I’d like to open a little wider though so I can even a bigger swig of the Fox News Kool-aid next time while meanwhile the country turns from a Democracy to a Plutocracy before our very eyes.

  • George Peck

    I place heavy blame on our sorry congress who either spend their time milling around or sit on the shiney seat of their pants and do nothing but be spectators.

  • M.D.

    I find it difficult to reconcile that as astute as the author is about economics that he is naive enough to attribute it to one president’s policies in less than one term in office.

    • DaveH

      The problem is that your first assumption is incorrect.

  • http://none dave bulkoski

    hey john,

    thank you for being honest with us. I am from Kansas, and I long to go back there, because the air is different, people are honest, they live quietly and soberly, and there is no traffic almost anywhere you go. maybe i’ll go back there. they always say, you can never go back home, because it’s not the same, but i feel like i can’t stay here, because it’s not the same. god bless your family. god bless and keep everyone.

    • John Myers

      Dear Dave,
      Your home in Kansas sounds like a place I would like to live. Thank you for the kind words and thanks to all of you for reading.
      Warmly,
      John

  • robert shrugged

    and I am am a God fearing man who will defend my family and the constitution till I fall dead. I hope that all you who love America will stand with all God fearing Americans and take America back from these jack booted america haters.

  • Michael J.

    Dear John Myers,
    I appreciate your analogy comparing what we are seeing these days on Wall Street and the perils of flying small planes. It has brought to mind a heart rendering experience of my own that I would like to share.

    On a weather soaked evening in 2005 while returning from a sucessful hunting trip, the pilot of our twin engine Beechcraft began conversing with the co-pilot about the fact that we were about to attempt a zero visibility landing at PBIA, Florida. Both pilot and co-pilot peering through what seemed like a wall of water with only the reassurance of the flight controlers at the tower as to the whereabouts of the runway. After a few tense moments which seemed like a liftime the co-pilot exclaimed, “there it is”. To which the pilot said, “we got it” and set the plane down hard followed by a bounce or two. No sooner had the plane stopped bouncing, when the co-pilot again yelled frantically, “Brakes, Brakes, Brakes!” as the planes nose gear left the tarmac and bumpily came to rest in the grass. After a few seconds of catching our breath, the pilot with much emotion evident in his voice said , “that’s the shortest runway I’ve ever seen”, to which the co-pilot replied after a long gazing look from his right to his left, “ya, but look how wide it is”.

    It seems as though we had completely overun our intended runway and come down instead on an adjacent runway which was running perpendicular to the intended target.

    In similar fashion, Obama, by precision design or gross ineptitude has created this massive storm that the market is weathering with nearly zero guidance as to the way forward. Who knows where the economy will land?

    • John Myers

      Dear Michael,
      I shared your story with my Uncle Richard (the pilot in our mishap). He wanted me to write you and tell you he liked it very much.
      Sincerely,
      John Myers

  • http://slayerwulfe slayerwulfe

    “There won’t be a damn thing the President, Congress or corporate leaders can do about it.” pretty much sums up the situation, so what do you suggest that I do, pray to some non existent god that’s omnipotent or is the correct term impudent as a President or maybe I should vote for the first time in my life. I have totally rejected praying or voting is there another choice that I have not seen.

  • robert shrugged

    MD I want you to understand that this country was founded as a democratic Rupublic. Franklin said that it was a republic and it was for us to keep it if we could and it seems to me we do not have the backbone to stand up and keep our Democratic Republic. that is what it was suposec to be. that is why we have a house and a senate. The house was to be the democratic part of the equasion, and the senate was the republic part where the senators were to stand up for the states. Some idiot got a referendum on the ballot to make the senate a house of representtives. that was the end of a democratic republic and the begening of a democracy which along with the federal reserve has caused the demise of america as we knew it. Franklin was right when he said if we could keep it. We have not.

    • bob wire

      Interesting perspective.

      I don’t know about any referendum but it’s fairly obvious that the Senate represents something besides individual Americans and their best interest.

  • tsunami

    In my opinion the Obama reign has spent its load and there is no way that he will be able to instill confidence in either the voters, the banks nor business to bring this ship around.

    The Congress and Senate also are not doing their jobs and it would not take all that much for them to create a panel such as proposed in this article being by-partisan, business, bankers. The just need a few of them, keep the press out of the picture so there is no grandstanding and make the realize the survival of the nation is at stake.

    Surely out of your 304 million people there has to be a few who understand the problem and have the confidence of the nation who are willing to sacrifice (dirty word) for the common good.

    When you are drowning you have to try anything.

    It is like your political leaders have an unlimited supply of stupid pills that they take every morning.

    What I do find interesting is that Clinton, both Bushes can get together and find solutions to problems after they are out of office but when in they are too worried about re election to do what is right.

    Democracy may be the problem. Too many morons in the voter ranks.

    • bob wire

      So ? ~ It’s the stupid voters and the stupid politicians?

      Well, ~ I’d admit, we have a lot of people a togging on opposite ends of the same rope and too little movement on the center of the rope today.

      I’d come near saying we had a system in place that has been compromised on many levels and doesn’t serve us well anymore.

      Make me “KING” and I’ll fix it.

      The first thing that I’d do, is subject elected officials to the rules and laws that they make and they can forget about retiring and the pay to keep coming.

      #2 , trade imbalance would be balanced.

      #3 anyone that threaten violence again another might as well do it. The penalty will be the same.

      #4 Caught lying three times about anything and you are on probation and must report to court ordered class to build character.

      #5 Convicted of lying 4 times is a felony and Citizenship privileges are abridges.

      #6 Everyone Federal taxes would be the same, 10% to run the Fed. accompanied with license and user fees. I you don’t use it, you don’t pay it.

      #7 Immigration will be revamped and restricted.

      #8 I’d make dieing affordable and a pleasant experience for people that wish to.

      #9 uphold the separation of church and state. If you feel government is immoral , you haven’t done a good job on the Church side, work harder do better. The government is at the churches mercy, it takes what the church sends to the hill.

      #10 Wednesday is banana pudding day.

      • 45caliber

        Only if #10 is for everyone.

  • robert shrugged

    well?

  • Randy Huffey

    People still “playing” or staying in the stock market are going to be so devastated overnight (one of these first days) they will wish they had bought crap instead of stocks! At least they would have had fertilizer. Lead, brass, and gunpowder are prerequisite purchases to gold or silver because by the time this is over and turned around you may only own what you can defend!

  • robert shrugged

    right on. also a little wire attached to doors and metal windows and a switch connected to an electic battery.

  • DaveH

    John says “That leaves governments with one option, injecting even more money.”.
    Wrong! Keynesian economics never has and never will work in the long term.
    The option that Government has is to Butt Out! Quit messing with the economy. Let Private business alone to do what they do best.
    Please folks, before you buy into any more of the money injection propaganda, which only serves to transfer wealth from the hard-earned savings of you and your fellow citizens to the current recipients of the latest money creation, read this and learn from people who know the reality about money:
    http://mises.org/books/tmc.pdf

  • Old Henry

    Good analogy John. I’m assuming that you and your uncle headed for home for new underwear…

    I was thinking that maybe you could send over to Little Barry, but then realized it’s over his head and would be a waste of time. He thinks we are in a glider.

    There appears to be one slight misnomer that I noticed. The Federal Government does not print our money. The privately held company known as the Federal Reserve (which is not even close to being a misnomer) prints our money.

    Yes indeed, the trillion dollars has gone into mattresses. Union Mattresses. And then some back to Little Barry’s mattress. (Think Solyndra)

    “Obama’s pledge to uplift America and bring new confidence to the country is nothing more than an empty promise.”
    An empty suit can give you nothing more than empty promises.
    The only thing more schizophrenic than the Commodity Market is the Stock Market.

    • John Myers

      Thanks for reading Old Henry,

      I always enjoy your comments. And yes you are correct, the federal goverment does not print the money. However it seems of late that the Federal Reserve does what the federal goverment tells them to do.

      But your point is well made.

      Warmly,
      John

  • Monte

    With the debt crisis in Europe, I believe socialism is collapsing on a global scale. It has bankrupted countries the world over, proving itself completely unsustainable. In the coming socialist collapse, I hope that the American people will, at long last, tear themselves away from the make beleive world of the leftist/socialist TV and come face to face with reality. Shocked, they will then turn to the only source of hope that exists and has ever existed: they will look skyward. From thence, we can begin to redevelop the values that made this country great, reclaiming what the left destroyed, which is virtually everything.

    • Nadzieja Batki

      Socialism is not going to disappear anytime soon. The end result has not been accomplished. Socialism is incremental in its working.

  • robert shrugged

    Monge you live in a delusion. the majority rules, and in every country you have people who use the regular idea of what you will get for free. socialism promises things for the people and the majority want something for nothing. they get elected and then raise taxes on the producers and the people to pay for the freebies. then more and people decide to stop working and also join the freebies and more taxes and fewer people to pay taxes and many business leave the country because of taxes. then their is more taxes and hardly anyone to pay the taxes and the result is colaspe of the country snd no one has anything, then what? I could go on but you should know what is next. we have a congress and president who will sell socialism, to create a socialist government that will colaspe. then slavery.and a dictatorship. IS THAT WHAT YOU WANT? The united states bailed out most of the colasped counrties. that is what will happen. Who will bail out the us.?

    • Nadzieja Batki

      Not one of the countries that America bailed out and propped up and weaned and anything else that was done with our tax dollars, will ever come to the aid of America.

    • http://?? Joe H.

      robert shrugged,
      Majority rules? Really? then how do the minorities get so many rights? How do the crooks have more rights than the victims? This country is not and has never been founded on majority rules!!

  • robert shrugged

    sorry I ment Monte not monge

  • jopa

    Michaek J;When I heard the joke about the wide runway perhaps 30 years ago the weather was a blinding snowstorm.This is perhaps the northern version.

  • robert shrugged

    we have raised a nation of fools. our schools are run by those who beleive in socialism. they teach socialism is good, because they have made socialism a feel good religion in their lives and their students. we have made the teachers the nannys, and the nannys have replaced the mothers who went to work. who realy cares for them?

    • bob wire

      I don’t remember being taught “socialism” but I did see it being played out as governmental social engineering mandated “busing” and “Affirmative Acting” .

      That the “American Dream” required you to be asleep was not lost on me.

      I see today, people that just can’t wait to retire. The AARP has been sending me mail for 8 years now, wanting me to join up. I don’t know the meaning of the word “Retire” is it something like “quitting”?

      I figure I was taught much the same as everyone else and I’m no fool.

  • http://www.rescueamericanow.net LWalker

    We do have redress under the Constitution. I became been so concerned in 2009 about what was happening in America that I created a website called Rescue America Now. On it, I recently posted a Manifesto that calls for a Constitutionally-and-legally-empowered 3rd Continental Congress made up of 400 representatives to resolve the huge problems we face and get America back on track to the great nation our Founders envisioned. It provides a blueprint, but needs the input of more Americans so please take a look at it and send your comments and suggestions to my website on how you think it can be improved. May God bless and preserve America.

  • Attila

    Adding to the stalled airplane analogy, I am coming up on 50 years in all kinds of flying. The mistake that inexperienced or improperly trained pilots make is that when they realize they are not climbing but losing altitude, their instinct is to pull back on the stick (see, told you I was an old timer) or yoke even more. As often the case instinct is exactly the wrong thing to follow; this only creates more drag and takes them further into the stall and a high speed descent. If on the other hand they immediately recognize their error and push the yoke forward, gaining speed and lift they have a good chance of flying out of the trap.
    Yes, this all applies. Our Great Leader was both inexperienced in anything other than riding affirmative action and gaming the system and improperly trained in real world business or economics, but instead educated by ivory tower academics who failed to learn the error of their thinking back in the 1930s. This misinformation and his instincts told him more government spending was the cure for economic malaise, when in reality less was the answer.
    The question now is do we have enough altitude beneath us to recover before “augering in”. This is a very rich (altitude) country and to be realistic most of the rest of the world is in even worse shape and anxious to throw their capital to us by default. Still, in stumbling from one crisis to another, we are very likely to eventually eat dirt if we dont correct the problem. We have one great advantage over the rest of the world as we are not a democracy but a constitutionally limited republic. If we rise up and demand that the federal government abide by its constitutional authority, which covers only national defense and international relations, the economic crisis would be resolved almost overnight. This would of course be a revolution, hopefully (if unlikely) one without major bloodshed. Consider:

    -Federal spending reduced by 75%, such funds remaining in the capital markets to stimulate business and job formation, and in the hands of the citizens who will undoubtedly put it to far better use.
    -Since government workers cost about twice equivalent private sector workers, showing one of them the door will result in two new and productive jobs.
    -Government regulations will be virtually unenforceable (not legally authorized by the Constitution), which since they are mostly of no use anyway will not be missed. That would mean another 20% boost to the economy.
    -Since corporate taxes are just another sneaky tax we the people have to pay in the end and we will no longer need it, byebye. Another boost to the economy and to exports.
    -The government’s legally authorized duties can be mostly paid for with import duties, as they were for 150 years. Maybe something like the Fair Tax but at 5% instead of 20% would work to pay down the mountain of debt. Scratch the 16th; no more IRS thugs and filing hassles. Compliance costs of $600 billions, gone. Another tremendous boost to the economy and personal liberty.

  • JeffH

    I would suggest to anyone that cares about our great nation to make it a point to watch Judge Andrew Napolitano’s very show – Freedom Watch on FOX Business channel. He is without a doubt the most knowledgeable and informaive individual on TV.
    http://www.foxbusiness.com/on-air/freedom-watch/index.html

  • robert shrugged

    I have an idea that will do a lot to elininate the debt. I will sound undoable untill you really think about it. let Attila idea a look at. now I believe that social security is a major part of the peoblem. 1st we need to raise the age at which you can get social security to 72 . next anyone under 60 be given an option to increase their social security donations by 30% or retire as 78. next all federal pensions be paid at social security rates not contrsct rates (that includes senators and congressmen).also congressmen and senators and federal employees will also get mecicare or obamacare just like all the other people get. that will cut expenses greatly. next all welfare and other federal grants whatever they are for will be taxable at 10 percent. also anyone who is not a citizen will not be eligible for any government monies. medical care for illegal alliens will not be allowed. foreigh student will not be eligible for tution at government schools. foreign aid will be reduced to 1 percent for 2 years and then revoked permently. we have to take care of America first. If the government puts a constitutional ballot on the foreign aid and recrives 75 percent vote then we can have foreign aid. all loans to foreign counrties will be paid or no aid will allowed in the future counrties that do not pay thier loans. our counrty has not followed thw intent of what our founding fathers gave us.

    -

    • Nadzieja Batki

      I agree with your reasoning but not one of your suggestions would have a snowball’s chance in hell to be put in action. Socialism is so heavily entrenched within the generational fabric of our society and it has created jobs for the middle class bureaucrats(call them government workers)on all level(city,state,national). They are unionized and they will fight you tooth and claw that these jobs will not be ended.I am excluding our Military because they are needed. Even on bases the civilians are running most everything.

  • robert shrugged

    well

  • chuckb

    sounds like a good idea to me. have you discussed this with the democrats or should i say the bolshevik party.
    like batki says, the bolsheviks have built themselves a formidable voting block with the unionized civil employees and federal workers. count in the welfare recipients and minorities, we are at the breaking point.

    barry is making a speech or two a day and has the sheep mesmerized, when and if they ever look at what this clown is costing the taxpayers, between vacations and campaigning with air force one, they may come out of there coma.

  • Hornet

    Obama is an ideolog marxist. There is no thought other than what marxism dictates. Remember, his father and mother considered themselves communists along with his mentors Davis, Orlinsky and Ayers. Also, keep in mind that in a marxisst state everyone is supposed to be classless and receive what the leaders provide them.
    Communists have always destroyed the rich and the middle class in developing their (utopian) classless society.
    Obama is following the classic marxist examples. While he claims to fight for the middle class,he is really doing everything he can behind the scene to destroy them along with the rich.

  • Joe

    What a great Fascist Website! Keep up the hate and fearmongering, you slack-jawed knuckledragging troglodytes! Four more years for Obama to continue to clean up Dumbya Bush’s train wreck.

    • Jay

      Now that’s what i call an oxy-moronic statement! A socialist that hates fascism! Joe, your anger is actually confusion. Huh? That’s ok, go back to sleep…

      • Joe

        Hey Jay,

        1. I’m far from a socialist,
        2. Socialism is left-leaning by definition, fascism is right-leaning by definition, so they are at virtually the opposite ends of the political spectrum,
        3. Keep up the great work, Adolph :)

        • Jay

          Really? If you’re not a socialist, then why do you support obama? If you’re not a fascist, then why do you support obama? He is both, blended into one, which would make him a communist, dictator! I take it then, that the fact he did not seek congressional approval to enter into war with Libya does not give you pause for concern? Of course not, for as you said, you are neither socialist, nor fascist. And yet, obama’s total disregard for the Constitution should be of no concern? By your own admission, then, in that you support obama, you are both, a socialist, and a fascist, and yet, you seem not to understand the definition of either one! You truly are lost, aren’t you?

          • Joe

            I want what’s best for the country, and that means supporting the POTUS and his/her efforts. That doesn’t mean I support everything Obama does. As for Libya, that wasn’t a war; there hasn’t been a war declared by the US since WWII. It was a military action, one which cost the US .001% (in monetary terms) of Bush’s invasion of a sovereign nation under false pretenses for oil, and several thousand American lives less and counting (and a couple hundred thousand Iraqi lives, insignificant though they may be). As for “socialist”, it’s a term tossed around by far-right wing morons who couldn’t define the word if it bit them in their ass. Fascism? It’s “The merger of the corporation and the state”, as defined by the FATHER of Fascism, Benito Mussolini. Ol’ Dumbya Bush’s administration certainly defined the term “Fascist” far more than Obama. But I hear Glenn and Rush Limblowhard Dopehead Hypocrite calling :)

          • Jay

            Joe, you’re full of sh*t!

  • Jay

    Mitt Romney isn’t yet the GOP nominee, but President Obama’s re-election campaign is already preparing to wage war on the former Massachusetts governor.

    Sources close to the Obama campaign tell Politico’s Ben Smith and Jonathan Martin that they are planning a “ferocious personal assault” on Romney’s character and business background.

    “Unless things change and Obama can run on accomplishments, he will have to kill Romney,” a prominent Democratic strategist aligned with the White House tells Politico.

    And how exactly is Obama planning to do that?

    The president’s re-election team won’t simply focus on the usual knocks against Romney–including his flip-flops on abortion and other issues. They are going to hit Romney where it really hurts: They are going to make fun of his jeans. LOL!!!!

  • jopa

    Joe;Very well said however I don’t think Jay will be able to see your point in that his head is stuck where the sun doesn’t shine.

    • Jay

      I doubt very much jopa, that you understood what Joe wrote. I suspect Joe doesn’t either! Nice to see that you two have joined brains together, sadly, you’re still half a brain short!

  • newspooner

    Stall warning sounds off???? Lower the nose!!!!! What’s hard about that?

  • Frank

    I read this article with great interest. The analogy of flying and the stock market are in close relationship to each other. The rich are grabbing and the poor stand to come out, as usual, on the wrong side of the stick. Sure the fat cats will lose money and some big time. We little guys will lose as well. The bulk of the American population will be homeless. No well deserving landlord would allow anyone to reside on their property rent free even though they have no place to go. Greed in this country is appalling.

    Our government, and I will start with the Obama’s is doing everything he can to trash this country. Lavish vacations, five star accommodations for friends and family, high end alcohol beverages and the list goes on at our expense. Raise taxes so they can spend more. Screw the American people they are trash anyway. Get what we can while we are in office and let the American people suffer because of it. I’m tired of eating my peas; I’m tired of not being able to go out to dinner once in a while and as far as vacations go? Gee it sure would be nice they have an all-expense paid junket to someplace where I could pig out on high end food and booze. Let the market crash. It’s time we start over and I think this time the American people would have the guts to stand up and face the compost pile running our country and fight back. Wake up America, it’s time.

  • Jay

    I agree with Judge Andrew Napolitano, who said last week, “We know more about the CIA than we do about the Federal Reserve.”

    The Federal Reserve is the Freemasonry of government agencies. It is a virtual secret society unto themselves – a group of unelected brokers who hold the value of our dollar in the palms of their hands. This one agency, with its power to raise and lower interest rates, has exercised more control over the economy than any other government body.

    So with that type of single-handed power, why should we be surprised when the U.S. Senate blocked a bill last week to audit the Federal Reserve? Tis true! Rep. Ron Paul and more than half of the House cosponsored the Federal Reserve Transparency Act, HR 1207, which they hope to have hearings on soon. On the Senate side, however, Sens. Jim DeMint, Mike Crapo and David Vitter cosponsored S 604, companion legislation introduced by Bernie Sanders. But it was stopped cold before even being introduced on the floor on “procedural grounds.”

    Could it really be a mere coincidence that the bill to audit the Federal Reserve was refused from even being introduced and that this agency remains the “quick convenience store-house of money” for the Obama administration’s borrowing and bailout monies?

    Sign WND’s latest petition, demanding the U.S. Senate support an audit of the Federal Reserve now!

    Again, as Judge Napolitano said, “The Obama administration not only doesn’t want the Federal Reserve audited, it now wants to put the power to regulate all financial institutions – banks, insurance companies, brokerage houses – into the hands of this super secret bank. What are they afraid we might see if we get a chance to look at their books?”

    As if there are not enough signs of the Fed’s inadequacy, two expert economists on the Federal Reserve specifically warned Congress last Thursday not to expand the power of the Fed to oversee and monitor public financial structures. Allan H. Meltzer, professor of economics at Carnegie-Mellon University and one of the central bank’s most prominent historians, having written a three-volume reference work on it, conveyed a series of U.S. financial collapses over the last three decades in which the Fed had either failed to take preventive action or made things worse.

    And the White House and majority on Capitol Hill want to give the Federal Reserve more power and autonomy? Have they finally lost their minds?

    So why does this federal agency need a complete auditing? It’s very simple. Because America is in the worst economic situation since the Great Depression, the value of the dollar is tanking on the world market and the Federal Reserve wields the greatest power to control it with virtually no accountability – let alone that the American people and even Congress have virtually no knowledge of what those inside are doing day to day.

    On Dec. 23, 1913, President Woodrow Wilson signed the Federal Reserve Act, creating a seven-member board of governors (appointed by the president and approved by Congress) and 12 regional banks. From thereafter, banks continued lending money to the public, but the Fed controlled the flow of money via fluctuating interest rates and the tides of credit and money supply and demand. (This was the gravest governmental mistake in 1913. A close second was the ratification of the 16th Amendment to the Constitution, which mandated income taxes as national law.)

    Read more: A force of one: the Federal Reserve http://www.wnd.com/index.php?fa=PAGE.view&pageId=103762#ixzz1YpRgBtXk

  • robert shrugged

    Jay many have tried to control our federal agencys, but once the tutle gets his head under the table everything goes south. Our founding fathers forbad much, but our politicians have said that they know better than those old fogies who founded this country. Since our government got their noses into education, business, religion, states rights, and the economy everything has went south, and the supreme court rulings since the forties have also for the most part went south. and the people in their haste to change things finished it all up when they voted to admend the constitution to make senatore an elected office instead of what it was that it protected the peoples and states rights as the constitution states are superior to the federal government. the constitution states all rights not delegated to the federal govenment are reserved to the states or the people. they are the ninth and the tenth admendments of the constitution also known as the Bill of Rights. enough said.

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