free market no longer familiar

http://financialrealityrevisited.blogspot.com/2009/03/free-market-has-left-building.html

Wagoner stabbed in back by Obama

http://financialrealityrevisited.blogspot.com/2009/03/wagoner-ousted-as-president-snuggles.html

More Obamanomics. Where is the change by the way ?

Toxic to taxpayers?

The government has done nothing to steer us out of ruin as far as I can tell. The truth may be that they have done just the opposite. We have huge losses that the banks refuse to take and we have the government trying encouraging overpayment for these assets. There is no that they hand of government can guide this ship by punching holes in the bow to let the water out that is coming in the others holes in the stern. We are encouraging the banks to hold out rather than clear the market. We have just tried to fast foreword to the resolution without taking the necessary steps to prime the pump. We have had a rally but banks are already tempering their comments about their Fantastic start to the year. I want things to be better as much as anyone but I think we might have just started steering toward another iceberg.

Mark to market changes?

Unbelieveable!!!
We are still entertaining efforts to try and keep the banks and their CEO's in place. We are the biggest bunch of suckers ever seen. Now the cowardly congress is ready to suspend mark to market accounting so the banks can continue to hold a gun to the head of taxpayers for years. All they have to do now is to say we have more toxic assets from a few years ago and you let them ride back then and now they are hurting us and we will close down the system again unless you guarantee more of our stupid deals. How can we be spending billions and billions while people are losing their jobs left and right. This is complete crap!!!!!!!!!!!The bankers say it is important for buyers and sellers to agree on a price that makes sense to both!!!!!!!!!!!!!!!What????Yeh and I need to agree on a price for my rental house that makes sense to both parties even though the market price is half what I want to clear. Yeh that makes perfect sense. I can't believe this is American Capitalism. I am disgusted with our congress and the administration for prolonging this recession. The more they medal the more the economy suffers. We have seen a few signs of free market resolution in home sales but the banks are controlling the government and they will hold on and threaten world collapse until our government gets enough courage to just say NO!!!!! We don't need these people who drove this train off a cliff. We have survived 2 years without the big banks doing much of anything except stealing money from the taxpayer. There are plenty of solvent banks that will allow the economy to recover. We could have put a chicken in every pot of every person in the entire world for the wasted dollars spent on propping up banks.

Hope for the future.

It is amazing just how much our psychology or our over all mind set can effect the world economy. There are times when it seems like the only thing influencing the stock market is sentiment. The stock market and therefore our economy can not survive if everyone is depressed or fearful about the future. The economy in part and the entirety of the stock market are really just indicators as to the levels of hope or fear about the future. Our current recession has clearly revealed how quickly and abruptly growth can turn to stagnation if counter parties lose faith and trust in one another. This is true for banks trading with banks as well as individual investors. There has never been a clearer more powerful example of how large of a role attitude play in the world. It is always said that a positive attitude will lead to a better life for individuals. People learning to be more positive gradually start to see how they create their future as their expectations change when they learn to trust more in the universe. It is an example of faith. We become the creators of our future by having faith and expecting better things to happen each day. Our minds our creative and can create our future and collectively they can also make or break the stock market. Once people lose trust in financial institutions or question whether CEO's are lying psychology begins to change. Banks began to question the validity and truthfulness of other bankers, investors begin to question the transparency of the books and soon not one trusted anyone or any bit of information being disseminated by the financial institutions. Much of the distrust of banks was well founded, but a lot of it may just have been collateral damage. Regardless, the fact that bankers stopped trusting other bankers and would not loan funds to each other to meet short term capital needs revealed that many skeletons had yet to be discovered.
I thought about the psychology of the market recently because of the current uptrend in stocks. Psychology has become slightly more hopeful about the future even though we are still losing massive amounts of jobs and they banking system has not cleared the "toxic" assets that started this entire meltdown. But it all doesn't seem to matter as long as people think it is ok to come outside and play again . The worst may or may not be over but the amazing reality is that market psychology will decide when it is time. Once people have more faith than fear about the future we will start the run of a bull market again. We may have seen the beginning already but it will only take a slight shift in sentiment to lead again to a chain reaction back to test the recent lows.

bernanke may be independent

I noticed a distinct difference in what the administration is selling and what Bernanke is advocating. The administration is willing to bail out banks to save the economy but they also want to spend to the hilt to "help" people across the country. I got the impression that Ben was talking about political will to cut back the excessive spending already started by the administration and focus on repairing the banking system. He sounded like he was saying we spend now on the banking system to uplift the entire country but if we can't get the Dems to cut spending and trying to rescue the country with entitlement programs we will never get the banks on their feet. I know the give aways to the public tend to be counter productive but sound like Bernanke believes saving the banks will save the economy or at least get us more stability. Anybody have the same impression? Curious to hear other opinions.

Obama smart or smooth talker

While Obama was dreaming of being president and cozying up to the Taliban and he was stock coal on the change train, he failed to shift from campaign mode to ok I am the president mode because he has no clue regarding economics or politics. The media created this guy to be their anti bush and now we are getting some of the questions answered that were never even on the table before the election or before the swearing in this year. He has no clue and every time he does an interview it is becoming more clear. He is a novice politician who used speaking skill and media free pass to get elected. He did not run for president to lead the people, he ran for president because it fulfills some narcissistic need he is carrying. I am sorry but this guy is not there for the people. He is there for himself and himself only and it is very disappointing to see such a gifted speaker come up so short on in substance and leadership. Ok team maybe if we are real nice to Iran they will turn out to be wonderful trusted friends. (tell me that is not approaching insanity)

President showing true colors during interviews

Obama showing true colors in interviews.
While Obama was dreaming of being president and cozying up to the Taliban and he was stock coal on the change train, he failed to shift from campaign mode to ok I am the president mode because he has no clue regarding economics or politics. The media created this guy to be their anti bush and now we are getting some of the questions answered that were never even on the table before the election or before the swearing in this year. He has no clue and every time he does an interview it is becoming more clear. He is a novice politician who used speaking skill and media free pass to get elected. He did not run for president to lead the people, he ran for president because it fulfills some narcissistic need he is carrying. I am sorry but this guy is not there for the people. He is there for himself and himself only and it is very disappointing to see such a gifted speaker come up so short on in substance and leadership. Ok team maybe if we are real nice to Iran they will turn out to be wonderful trusted friends. (tell me that is not approaching insanity)

interesting story

bloomberg article

don't let the constitution stop you!

We are seeing the very problem that can begin to spin our country into a downward spiral. We have all agreed to give up most of what our founding fathers would call liberty. We have done this voluntarily by elected our current government in its current form. We have shown that we have been very willing to pay over half of our incomes into the IRS and allow politicians to waste most of it. Our politicians are showing how uneducated they are on the economy. they have nearly ruined the financial system as we know it and have refused to use the model of the 1990s Swedish financial crisis. Instead of nationalizing failed companies and reorganizing them to get back into the hands of the private sector they have chosen to take a path clog will clog our system for years. They failure of congress to make separation of government paramount by nationalizing in the short term we have begun to see the creeping dismantling of our Constitution.
to be continued