Is Wall Street signaling the end of the recession? Liar! Liar! Pants on fire.

For the past 7 or 8 weeks, I have ben keeping a close eye on the rising stock market.

I has risen 25 – 30 %, and investors and speculators have begun responding with histerical glee, to the false hype being spewed by the Administration, spearheaded by the pom pom waving cheerleaders at the FED and the Treasury.

Is our economy really fixed? Is the worst of the recession over? Is recovery truly beginning, with economic growth returning by the end of 2009?

HORSEFEATHERS and MONKEY WINGS!!!!

Other than give money for bailout projects that do nothing but maintain the satus quo, what has been done?

For example, New York Sate has recieved $25 billion in stimulus money so far. Has that money created even 1 non governmental job?

I don’t think so.

The money has gone to cover the economic short falls in entitlement programs. Medicare, Medicade, foor stamps, teachers unions, government workers,and to ensure that everything is business as usual for all social services.

Have our taxes been reduced?

Sure, there has been a $9.50 / week reduction in payroll taxes, but we’ve been  hit with so many hidden taxes(.25 / ride on MTA as a case in point.) The New York State Legislature is trumpeting the fare increase on only 1 quarter..per trip this is a hidden tax increase of 12 1/2% for transit riders.

How about the increase in Motor Vehicle fees, and surcharges on taxi rides.

How about the payroll surcharge on businesses to help cover the Transit deficit.

Let me ask you ..how much cutting has the MTA done.

How much reduction in payroll.

How many layoffs have be initiated, to help[ pay for these deficits?

Very little. Let the   public eat cake…or something much less tasty…

So again I ask you, is Bernanke right? Are beginning a recovery phase due to the wonderful actions of our Federal and State Governments?

Housing prices have fallen for 29 months in a row, and are nationally almost 40% off from their highs.

“They” tell us that housing sales last month were UP slightly, for the first time in more that a year. Did “they” bother to tell us that almost 50% of those sales were purchases of foreclosed properties at distressed prices? 

The glut of houses on the market insures that prices will remain low or head lower for the foreseeable future.

According to several economic reports that I have seen, there is a second wave of Adjustable Rate Mortgages(ARM’S) that will begin to adjust in late 2010, and on into much of 2011.

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