Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Mentioned: 0 Post(s)
Quoted: 7 Post(s)
Originally Posted by mcbear
I think you mean 1300 point, but my point was not about the stock market numbers but the underlying foundation that was pointed out in the article. That is what I have been pointing out for TWO years.
Considering that you can buy and sell and make money on the up AND down on the Stock Market, its relative value doesn't mean jack to the base condition of the economy. Read the original post at the top of the page, ALL OF IT and you might get a better understanding. And even that is coming from Bernake who is obliged to edit his comments so as not to panic the market.
Exactly. We are so wrapped up in short term thinking. Bernake is sounding the alarm of a coming Great Depression if we don't start smarting up. He is pointing to a gathering cataclysm that we must do something about, and instead we are doing all the wrong things. The best way we can prepare for the coming demographic catastrophe is to balance the budget.
Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.
-President Barack Obama, 1st Inaugural address