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December 22, 2008
Dare to Dream
My chosen guide through this living hell: Paul Krugman...
Whatever the new administration does, we’re in for months, perhaps even a year, of economic hell. After that, things should get better, as President Obama’s stimulus plan — O.K., I’m told that the politically correct term is now "economic recovery plan" — begins to gain traction. Late next year the economy should begin to stabilize, and I’m fairly optimistic about 2010.
Fingers crossed.
Filed under: Barack Obama || Economy || Paul Krugman || Recession
Posted By Bob Cesca | December 22, 2008 8:21 AM
Comments
I work as a financial adviser, so here's my prediction: The stock market will be fairly flat for the next six months. The biggest problem in our economy is not the automakers or the banks; it's construction, as in millions of construction workers in danger of losing jobs because :
A: New construction is way down, almost nonexistent
B: Signed contracts cannot move forward due to lack of funding (Thank you banks!)
C: Many new home buyers want to wait and see...
D: Industrial and commercial construction is grinding to a halt.
I know there are several million workers who would be affected by the Automaker's bailout, but I think the construction sector of our economy is far larger and affects far more sectors of our economy.
It's hard for me to believe that we chose to help the dumbest sector (Auto) while basically ignoring the sector that feeds America. We also chose to help the greedy sector while the construction industry just "get's er done".
Until the commercial and residential construction industry moves forward, don't expect anything good to come from our economy soon. Banks with fresh capital don't feed America; they rape America. It's people who build things who feed our nation. Cars aren't purchased only by suits. If you want the most expensive trucks to move off the lots, you have to get money into the hands of the construction industry.
That isn't happening. Until it does, the Shrinking Three will play dead, and so will our economy.
Posted by: politicalpartypooper at December 22, 2008 10:33 AM



