Deflation followed by hyperinflation?

[FarmerChick]

I can weed out the stuff being said also but the news is always doom and gloom. From the minute it starts til it ends for the news part of it.

Maybe 1 inspiring story or something like that for what, 5 second mention.

I like to read the newspaper vs. tv. I have more control over what I want to read and not read. The news is shoved at you and they have control.

just me, I am not a news gal anymore..HA HA HA

 

[Wifezilla]

I Glenn Beck

and Fox & Friends

and Neil Cavuto

and Dave Ramsey

and Tom Martino (www.troubleshooter.com)

 

[sylvie]

We watch ZERO news on the TV, and only believe about .005% of what we read. I get my news and info from "the net"
It's real and it's uncensored for the most part.
As for the Doom and Gloom thing? I like to think the wife and I are smart enough to read into what is actually happening and what is being fed to us....and I can promise you this...if Uncle says we gotta be injected with ANYTHING, you can bet your sweet keister I'll be doing my darnedest to be the "last one". Every one else can be the guinea pigs!

No TV here, either. Online everything for us. I love it and not loyal to any one site for my news. I like news aggregators, not personalities.

 

[Big Daddy]

I like Ed Schultz and Thom Hartman and Keith Olberman and Bill Mahr
and I like Tom Martino too, he has a lot of useful information. Oh I like listening to the callers on Dave Ramsey.

Those shows don't put out as much doom and gloom as some of them. This whole recession has been created by the media. Wall Street and the mortgage crisis gave a good base for it but the layoffs and the drop in consumer confidence are media fed. Every body stops buying because they're afraid and then the layoffs start and it' a big snowball gobbling up businesses and jobs along the way. Pretty soon the only thing that is left are businesses that sale necessities and whatever employees are required to support those businesses.

I think they're on the right track giving tax breaks to home buyers. If they can get home sales going again it will help restore some confidence and get spending going again. Tax breaks vs tax cuts are the way to get the economy rolling. The last 8 years are proof that tax cuts aren't the answer. Let's hope they do something soon.

 

[CJHames]

I like Ed Schultz and Thom Hartman and Keith Olberman and Bill Mahr
and I like Tom Martino too, he has a lot of useful information. Oh I like listening to the callers on Dave Ramsey.

Those shows don't put out as much doom and gloom as some of them. This whole recession has been created by the media. Wall Street and the mortgage crisis gave a good base for it but the layoffs and the drop in consumer confidence are media fed. Every body stops buying because they're afraid and then the layoffs start and it' a big snowball gobbling up businesses and jobs along the way. Pretty soon the only thing that is left are businesses that sale necessities and whatever employees are required to support those businesses.

I think they're on the right track giving tax breaks to home buyers. If they can get home sales going again it will help restore some confidence and get spending going again. Tax breaks vs tax cuts are the way to get the economy rolling. The last 8 years are proof that tax cuts aren't the answer. Let's hope they do something soon.

For what it's worth ... we have a client that is a mid-big shot with JC Penny. She just got back from a trip to China. She told us yesterday that she thought the financial crisis was being severely understated by the media, especially with the problems in China. She said China is admitting to 26 million unemployed now. She say if they admit to 26, it's probably more around 35. China needs to create 20 million new jobs per year to break even. If there are 26 million now, there will be another 20 million in the next 10 months. That's 46-60 million starving chinese in the next 8-12 months.

She said dozens of bustling factories she used to tour to look for goods were closed down. The immigrants have all been sent home. I read a story last week that said China was buying huge amounts of soy from both domestic and American farmers, and corn from America, to try and help feed these folks eat so they don't revolt.

 

[enjoy the ride]

BigDaddy- What do you mean when you say tax cut vs tax break?

 

[CJHames]

I like Keith Olberman

Ahhhh, so you're the ONE who watches Olberman. I wondered who it was.

 

[Big Daddy]

Tax break vs tax cuts. I mean that reducing taxes paid by the top 4% allegedly provides more jobs because people with big money will invest in more businesses and create more jobs. In reality it provides more money for campaigns but not that much to the middle class.

Tax breaks on the other hand encourage middle class people to invest in houses, solar electric systems. wind power, small businesses, so no and so on. The economy becomes stronger. More jobs are created. Everyone benefits including the top 4%.

As far as China goes. They produce a lot of the junk that we buy that is no longer classified as a necessity. It would be a shame if some of that production came back to the US. One of the provisions in the bill that Obama is trying to pass is that any contracts commissioned by the US would require use of American made materials. McCain is trying to get that taken out. Guess he feels bad for the Chinese.

Yes I listen to Olberman some times. I find his commentaries amusing.

 

[enjoy the ride]

Ok- I see- and agree.......

 

[CJHames]

As far as China goes. They produce a lot of the junk that we buy that is no longer classified as a necessity. It would be a shame if some of that production came back to the US. One of the provisions in the bill that Obama is trying to pass is that any contracts commissioned by the US would require use of American made materials. McCain is trying to get that taken out. Guess he feels bad for the Chinese.

I can't argue with you over the quality (or lack thereof) of Chinese goods, but the "buy American" provision was a colossal mistake by whomever sold it to Obama (Unions), and BO quickly saw the light and back tracked on it. It may have been the hundreds of American business leaders that signed a letter and had it published in the WSJ and NY Times begging him not to do it. And it may have been the not-so-subtle threats he received from China, Germany, etc. who said he'd start a trade war if it happened. The day he announced it, China started inspecting ships of good from the U.S. (soy beans, etc) verrrrrry slowly,which risked having our Ag products go bad sitting in ships or in warehouses before Americans could be paid for them. http://www.reuters.com/article/reutersEdge/idUSHKG27247020070830

Economists who know the history of TGD also told Obama it was the Smoot-Hawley Act all over again, and it would surely put us into a depression. Personally, I'm very surprised he backed off of this, because everything they (Paulson, Bernanke, Bush, Obama, Geithner ...) have done so far has been an near-reproduction of what FDR did. His actions exasperated TGD. It's hard to watch. Even harder to comprehend. These people aren't stupid. They know history and economics. So I have boiled what they are doing down to things: they know full well what they are doing and want it to happen, or God has blinded them and is allowing judgement on America. I just don't see any other explanation. Gotta be one or the other.

The fix for this is simple, and everyone knows it. Drastically cut payroll, capital gains and corporate income taxes for two years. Our Corp taxes are the second highest on earth. Its' no wonder companies relocate to other countries. Or they come to Texas, where we have NO State or Corp income taxes. We also have a $6 billion budget surplus.

California has one of the highest personal state income tax rates and corporate tax rates in the country, not to mention out of control government regulation. They have a, what, $49 billion deficit?

Pick any state (New Jersey is a good one, Mass, NY are others) that has extreme liberal/socialist policies and confiscatory taxation rates and I'll show you a State that is headed for disaster.

The problem I have with all this is ..... if NY, MA, CA, etc want to provide free needles to junkies, tattoo-removal programs, money for abortions, etc., fine, do it in your state. As long as those States pay for it themselves. But when they start going $10 or $20 or $49 billion in the hole and come looking to the U.S. for a bailout, then I am getting the bill for it. What's in it for Texas? We won't get a dime.

We have $6 billion of them to spare.