I'm almost unable to write anything right now. I've been reading various op-eds and editorials where it seems as if they've taken up Phil Gramm's cry of "whiners". Then there are others who seem to think we've hit "bottom", and everything is on the way up.
In addition, it appears that Obama is going to use 300 billion in tax cuts as a part of his "stimulus program" -- and all the while I thought his "middle class tax cuts" were an issue in themselves. I thought the vaunted "stimulus package" was in addition to needed middle class cuts -- as an answer to the recession.
Then again, there are still Republicans who deny there really is a recession.
These little tid-bits are followed by news like this from The Wall Street Journal:
"US Auto Sales Continue To Skid
Ford Motor Co. posted a 32% drop in U.S. light-vehicle sales for December while Toyota Motor Co. reported a 37% fall and Honda Motor Co. had a 35% decline, closing out the auto industry's worst year in more than 15 years."
In addition GM's light vehicle sales are down 31% from last December.
Does that look like we've "turned the corner"?
The Hotel Industry looks like it's going bust: LA Times "Hoteliers see too much room at the inn".
In addition, Commercial Real Estate appears to be crashing: N.Y.Times: "As Vacant Office Space Grows, So Does Lenders’ Crisis."
The Wall Street Journal is calling for a loooong recession. At the same time, Republicans are saying we do not need any stimulus - except for banks and brokers (the folks who got us in trouble in the first place.
Even Paul Krugman appears to be suffering from "post-partisan-depression". Obama's lack of experience, and his hubris seem to be leading him down a "neo-lib" path. In other words it looks like "more of the same" -- and, when you utter those words after a regime like Chimpy's -- that ain't good.
By the way, doesn't it seem strange that not one of the folks who say our "slump" is over gives any credit to the TARP? We spend 700 BILLION $$$ bailing out the banks who got us in this mess, and not one person seems to think it had any effect. Those who supported it think we need some "real" stimulus". Those who opposed it are saying the crisis is over -- and, having opposed it, cannot give it any credit.
Does anyone else think it's ALL a con-game? Does anyone else think our economy has just been a Ponzi scheme?
I'm beginning to believe just those things. I also believe the collapse of this pyramid scheme will leave what is left of the middle class totally bankrupt. Then the corporate media, along with our rulers, and their wealthy overlords will convince us it is ALL our fault.
when are those of the far right wake up? When is the left going to wake up?
It isn't the immigrants. It isn't the "libtards". It isn't all about "guns", or "abortion" -- those are just things used to keep us all apart. Nothing changes -- if it isn't "the blacks", it's "teh gays". The right-wing-religious folks are being controlled by their leaders, controlled to the point they approve of stuff that is against their best interests. Too many on the left know NOTHING about so many of their natural allies in the "red states".
Classism still separates people who have more in common than they are willing to admit.
All in all, it looks good for our corporate masters.
Case-Shiller: National House Price Index Up 3.9% year-over-year in September
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Today, in the Calculated Risk Real Estate Newsletter: Case-Shiller:
National House Price Index Up 3.9% year-over-year in September
Excerpt:
S&P/Case-Shil...
2 hours ago
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