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Schwarzenegger's latest budget plan: Deep cuts, large tax hikes, more borrowing
In years past, the governor has unveiled his annual budget plan in highly choreographed events before a gaggle of TV cameras. This time he remained on vacation in Sun Valley, Idaho, leaving his finance aides to present the plan on New Year's Eve.
Add Up the Damage
Does anyone know where George W. Bush is?
You don’t hear much from him anymore. The last image most of us remember is of the president ducking a pair of size 10s that were hurled at him in Baghdad.
They're running men. Last season's winners. - Amber, The Running Man, 1987
The Running Man
BY 2017 THE WORLD ECONOMY HAS
COLLAPSED. FOOD, NATURAL RESOURCES
AND OIL ARE IN SHORT SUPPLY. A POLICE
STATE, DIVIDED INTO PARAMILITARY ZONES,
RULES WITH AN IRON HAND.
Hey, it's just a movie! Cheer up!
Real Estate Newsletter Articles this Week: Existing-Home Sales Increased to
4.15 million SAAR in November
-
At the Calculated Risk Real Estate Newsletter this week:
[image: Existing Home Sales]*Click on graph for larger image.*
• NAR: Existing-Home Sales Increase...
12 hours ago
6 comments:
2017? Optimists!
dearieme,
2017? Optimists!
Optimistic about the stock market
http://money.cnn.com/2008/03/05/pf/market_optimism.moneymag/index.htm?section=money_commentary_sivy
Here's why long-term investors should see the current bear market as a positive opportunity.
See! Everything is going to be just fine.
I should probably mentions that the article was written back on March 5, 2008 and that the DJIA closed at 12,255.99, lol.
optimism
http://dictionary.reference.com/search?db=dictionary&q=optimism
to expect the most favorable outcome
That's okay. There's still nothing to fear. We just changed that last digit on the yearly calendar from an 8 to 9. That surely has to help!
New year optimism pushes Wall St higher
http://www.news.com.au/business/story/0,27753,24867987-462,00.html
"Hope for much better returns in 2009 has permeated the marketplace," said Patrick O'Hare, an analyst at Briefing.com.
The sad part is that a 10% loss in 2009 would be a much better return for the typical stock, real estate, and/or Madoff Ponzi scheme investor. Therefore, I have few doubts that 2009 will see better returns than 2008, relatively. I guess that makes me cautiously optimistic/depressed too!
Happy New Year, Mark!!!
lineup32,
Happy New Year, and what's next? A look at the astrology of 2009
http://blog.beliefnet.com/astrologicalmusings/2009/01/happy-new-year-and-whats-next.html
Pluto is now firmly settled into Capricorn, and we are adjusting to this new quality of contraction that has created so much havoc in a world that had become all too accustomed to the "relentless optimism"® of the Pluto in Sagittarius era.
I'm always amazed at how much information giant burning gas orbs can apparently offer.
From an emphasis on growth, growth, growth, we are now in a reality-induced recession that has necessitated adjustments on many different levels.
It is comforting to know that the stars have such a great interest in the US Economy and American capitalism. Who knew?
How can we possibly lose! ;)
Stag,
The running man video reminded me of the dentist scene in the movie "Marathon Man"
Is it safe?
I think a lot of investors are wondering the same thing. I think they also feel like a tortured Dustin Hoffman.
Here's another metaphor that fits our eCONomy:
http://en.wikipedia.org/wiki/The_Imp_of_the_Perverse
In the short story, Poe's main character tells himself - I am safe
Sounds a lot like "house prices never go down." It's just too perfect. That truism could not have been dispelled at a worse time.
Much like Poe, I think we'd have eCONomic problems without all the perverse incentives. But hey, why not have government sponsored incentives that make make matters worse?
Here's one. Impose an economic system that requires perpetual credit growth on top of an economy that may or may not be able to grow in an exponential fashion. Credit growth for the sake of credit growth is a beautiful thing - for the financial industry. We've been getting our credit growth in spades thanks to wall street. We should be grateful for that.
Prior to 2008, most were convinced that we were safe from a deflation under a fiat regime. You can leverage that kind of safety - well uhhmm.. In 2009, most are convinced that we are safe from soaring inflation. I hope they are right, but I don't feel safe.
MAB,
Here's one. Impose an economic system that requires perpetual credit growth on top of an economy that may or may not be able to grow in an exponential fashion.
You have inspired my next post.
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