The Tel Aviv market gives a good indication of what it looks like – and here’s the really bad news: Israel’s economy is healthy.
Of course, by the time the markets open tomorrow Bernanke and the boys might have figured out some way to finesse around the downgrade and the spreading crisis in the Eurozone. I honestly don’t know what will happen tomorrow – but things are looking really dicey both in the short and long term.
We’ve got one heck of a mess and it won’t be easy to get out of…and we need a government which recognizes the mess (no more happy talk about how things are moving in the right direction when they’re not) and has the guts to do what is right. We need to massively reduce spending, reform taxes and entitlements and free up the wealth-creating capacity of the American economy. This will infuriate all those special interests who are still living off the carcass of Big Government, but it has to be done.
Blogs For Victory 
All is well there is no danger of a crash or a double dip. Bams will get reelected in a lanslide. There ya go thomas I posted for ya. 🙂
ROFL
LOL
The PLA. Other wise known as the Peoples Liberation Army. Otherwise know as the armed forces of communist china. A entirely owned subsidiary of the Taxpayers of the United States of America. We are financing the very people who have declared us thier number 1 threat.
Remember folks when the shooting starts those 7.62 x37’s were probably paid for with interest on government bonds. Kind of warms the heart doesn’t it?
Mark
Have you ever mentioned the Tel Aviv market before as an indicator? Is the stock market of a country with a population of 7 million supposed to mean anything?
Australia has a much bigger market and is down less than 1%. The Nikkei is off 1.3% right now and represents a country of 127 million.
As Americas economy goes, so goes the worlds. Somebody other than I said that. So it is probably true.
bardolf,
I don’t think its an indicator, at all…just surprising that the stock market of such an economically healthy country could be hit this hard. This is really getting serious.
As I said, I don’t know what will happen tomorrow…but with our fundamental problems, China on the verge of inflation-driven collapse and the European Central Bank flying around in a daze pledging more money than Europe has to bail out the PIIGS, I’m deeply worried. Worried for the world, worried for our country…worried for myself, too. Remember, if there’s a financial collapse I’m very likely to lose my job. I don’t want this to happen – in spite of some people saying I’m eager for collapse. But the crash is coming, and the people in charge haven’t the foggiest notion of what to do about it. Maybe they’ll trick things in to holding together tomorrow and we’ll stagger on, riven by crisis, for another day, or week, or even a month…but unless we change course, we’re really in for it.
http://www.haaretz.com/themarker/seven-reasons-why-israel-s-stock-market-is-bound-to-crash-1.377520
#4 Israel’s small economy is largely dependent on world trade. Exports have risen significantly in recent years, contributing to the economy’s expansion. The emerging slowdown in world economies will naturally hurt the country’s export trade.
The first signs of this were recorded in May and June, when exports to the U.S. dropped about 9%. Although Israel enjoys fast-growing exports to developing countries, its main trade partners remain the U.S. and Europe. Israeli exporters, who perhaps have gotten used to suffering from a strong shekel, face complex challenges in the near future.
A crash might come anytime. Visiting B4V these years has gotten me paranoid enough to have put aside enough to last a few years and buy 12 acres in case I need to take up gardening. You can only read Spook so much before you start building chicken coops. LOL.
Still today’s reading was Matthew 14 while the sermon was on a similar passage
Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? Matt 6:26
Bardolf, are you advocating not being prepared here? God helps those who helps themselves. Birds are not equipped to sow or reap. Humans are.
GMB
God helps those who help themselves is hardly biblical, it’s Ben Franklin. It’s also poor theology since clearly God helps those who don’t help themselves- aka Grace.
I could die tomorrow in any number of ways beyond my abilities to prepare but I probably won’t. I’m skeptical of doom and gloom as well as hope and change. The only thing I can do is aim for the ability to roll with the punches. I’m not expecting a crash, but am vaguely prepared to farm 12 acres if need be.
Ok then Bardolf. What are you going to do in the meantime? Lets say for arguments sake the crash comes in mid november. The next harvest wont come till next october. You have no food because you have not stocked any away. You going to depend on the government to feed you? You going to pick up gun and rob your neighbor?
Please don’t come to Peoria with your gun. It would be shame to kill you.
Mark, don’t you find S&P so very reliable in its ratings? After all it rated the mortgage securities as AAA – and we all know how well that turned out.
GMB
I don’t know how bad things would have to get before I go to Peoria for food. I should lose my job which implies the state has gone bankrupt and close down the universities. The value of my house and assets should become zero. The price of basic goods like rice should become out of reach for everyone. But these things didn’t happen in the great depression.
So when I come to Peoria it will be for beer!
obama and the dems financial irresponsibility are solely responsible and no amount of BS from them and their liberal stenographers in the media will change that. President Bush was the only president with guts enough to try and directly reform social security. President Bush also had the deficit dropping in a big way, which was then interrupted by the devastation of Hurricane Katrina and Rita which destroyed an area the size of England.
Thanks for the belly laugh for the evening, LOL, Bush as fiscal conservative, hahaha.
“President Bush also had the deficit dropping in a big way . . .” james
Really james? In what way was the deficit dropping? With two wars that were not funded; part D of SS; NCLB unfunded. And b/c of Kartina and Rita he couldn’t continue the drop in “a big way”? What world do you live in?
“The PLA. Other wise known as the Peoples Liberation Army. Otherwise know as the armed forces of communist china. A entirely owned subsidiary of the Taxpayers of the United States of America. We are financing the very people who have declared us thier number 1 threat.” GMB
How about the terrorist that we finance through Sudia Arabia and other middle east countries? We have been financing the middle east war against the US by buying oil for years. And yet, no one seems to want to get off of oil. More of drill baby drill – and T. Boone Pickins has said many times the we do not have enough oil to meet the needs of consumers and it is time to go to other sources of energy.
It would seem to me that if we would “drill baby drill” we would be producing our own oil. Therefore we would no longer be buying islamic oil. Many other people along with new discoveries of oil in our country dispute Mr. Pickens claim.
GMB, I can see why you would not believe anything Mr. Pickens says. After all, the man knows nothing about the energy industry. Foolish me – trusting something he said about our energy problems. Next time I am just going to ask GMB what the solution should be to fix this huge problem.
And once again, you can thank the Tea Party for the huge drop in the stock market. For everyone with a 401K and with hopes of retiring one day – forget it. Just join the Tea Party. They know what is best for the US.
Ahhhhh, leave it to dreggs to regurgitate the “TEA Party downgrade” dumbed down talking point that every lib from David Axelrod all the way to Howard Dean spewed over the weekend.
It is a shame that such drones as dreggs, jeffy, denny, etc. etc. will mindlessly regurgitate these dumbed down talking points instead of the facts.
FACTS such as those from the S&P. They demanded more CUTS than tax increases errrrr “revenue increases”:
“The decision by Standard & Poor’s to downgrade the U.S. credit rating to “AA+” at once laments the possibility that cuts to entitlement programs will not materialize and the decreasing likelihood of new tax revenues. But it appears to give more weight to the need for more spending cuts, as it warns that a further credit rating downgrade is in the cards if the U.S. does not trim spending.”
http://thehill.com/blogs/floor-action/house/175755-sap-values-spending-cuts-more-than-tax-revenue-in-credit-rating-analysis
The libs and the obAMATEUR were warned months ago of this scenario and typically they ignored it.
As predicted, dreggs regurgitates the dumbed down talking points and blame anyone else but obAMATEUR for his bungling.
Let’s see S&P demands spending cuts… TEA Party proposes spending cuts, obAMATEUR rejects them and wants tax increases. Why did he cave on extending Bush Tax Cuts? Why did he not cut spending, really cut spending and not reduce increases?
But leave it to dreggs to regurgitate rather than think.
Pathetic.
count, you will see how much the world laughs about the state of the ecomony when it does come back on the Tea Party AND George Bush. Bush started this nose dive of our economy and the Tea Party made sure they finished the job. When the number one goal of the GOP is to make sure that Obama fails you tend to forget that as a part of that failure so goes our country. You would rather see the country go into a depression rather than work with this president to make sure our nation succeeds. Disgraceful. I do hope all of you are happy when we do finally go over the edge – you and Limbaugh and all of the other anti-American radicals who just cannot bear the idea of a bi-racial president from the Democratic Party. In a way I do hope someone for the GOP wins in 2012 because the Democratic Party is willing to work with the other side of the aisle. It is more important to save our country than to defeat the president of the US. You are a petty, mean spirited, and hateful section of this country.
Neo,
Sent again. btw, on my “signature” you’ll see why I find Barstool’s characterization of me as an “academic accountant” so amusing.
Count
How does Neo know that your wife didn’t buy you the car?
Uh oh! Vandreck forgot to call me a “terrorist”! She’s going to lose her status as a world-class Obamabot for not spouting the entire Axelrod meme.
She did manage to get racist, hateful, mean-spirited, Bush, TEA Party, & radical into her straw man laced diatribe, so points for that.
Note to libiots; the GOP or the TEA Party or conservatives or anyone else aren’t trying to “make sure Obama fails.” But how sad is it that in the absence of anyone else to blame he can’t even take responsibility for his failures?
barstool,
Jealous?
Count Chocula
Are you asking if I would convert for a Mercedes Benz? (LOL, I can’t answer until I get the offer.)
On another note, the stock market dive may drive me to the dark side of administration. The Lago di Bolsena has a nice view but the beach is a lot nicer in California and one can’t get a reasonable house anywhere nearby those beaches on my humble pay. I could always pray for a complete collapse of the CA housing market but the Chinese would buy it up anyway.
‘stool,
Maybe you should stay away from the computer until the drugs wear off.
Count
How is YOUR retirement portfolio doing and how much scotch will you be having tonight?
‘Bars
Having been prepared for the latest Marxist motivated market meltdown the equity rejection of Obamanomics doesn’t affect my portfolio.
Btw, regardless of what any news organization may have erroneously reported there are no “Bonuses” in theUC System.
Click to access Comp_fact_2.15.11.pdf
AAhhhhhhh, I see “sunny” or dreggs did not have a reply to the FACT that S&P blames excessive spending for the downgrade and not “lack of revenues” in their reasoning.
obAMATEUR has increased baseline budgeting 25%, 25%!!!! in two years and yet whines that there is no room for cutting and demand tax increases, after extending the Bush tax cuts just 8 short months ago when he this issue was still outstanding.
Dreggs just regurgitates the dumbed down talking points…blame Bush, blame the GOP, blame the TEA party, blame anybody but obAMATEUR and the Democrats who had two years to address all these issues (with sufficient majorities) and did not.
Pathetic.
Tired,
Accepting responsibility for failed Socialist policies is antithetical to the left; we all remember that Oblabla and the dimocrats wanted a “clean bill” to raise the debt ceiling without all that cutting and budgeting nonsense. If they had gotten that then there would be no credit rating issue. /sarc
Remember, they told us there is no crises; it’s all manufactured by the TEA Party to make Oblabla look bad. There was no need to negotiate “cuts” the credit rating would never be lowered; or so claimed Geithner.
Now that a rating agency did their job it’s all a politically motivated hit by S&P because they’re the ones that “ rated the mortgage securities as AAA” so they’re too inco0mpetent to rate The Obamha-God!
But wait, if the credit rate drop was the result of S&P’s incompetence how could it be the TEA Party’s fault? If it was the result of Booooooooooooosh, how could it be the TEA Party and S&P’s fault? And if the deficit was “caused” by the Boooooooooosh Tax “Cuts” … never mind, my head spins every time I wander into the tall weeds that is the mind of a libiot.
I actually read the following this morning: “ Standard & Poor is run by McGraw-Hill Co. Harold McGraw III is CEO. He supports Romney. This is easier than a Scooby Doo mystery, folks.
Well, no surprises here for anyone paying attention.
Seriously? You have to twist yourself into this contortion make a connection to support your bizarre conspiracy theories? That is almost as insane as sunny’s racist claim that S&P is trying to bring down Oblabla because he’s “biracial.”
scummu
absolute complete BS
alinsky 101
Since the world laughs at the van-drecks and their constant cry of Boooooooooooosh, they’ve had to find a new boogy-man in the TEA Party. TEA Party caused the downgrade? Seriously?They have a better chance convincing people that fire hoses cause buildings to burn.
How long before they figure out there are more TEA Party Patriots then liberals?
and you are scum
scummy
and you are SHIITE…. 🙂
count
re send pic of car I accidentally deleted it before I got to open it….
WOW! I wish I had written that!
Such clever argumentation, such garrulity, truly a master at the fine art or forensics and reasoning.
And so deftly took my argument down; everyone can watch as I succumb to your vicious blows.
Well, your arguments don’t often cause such angst, but they certainly blow.
Sunny TV
I didn’t know the Tea Party bombed the world trade center, LOL.