There is no recession, looming or otherwise.
We are in a market correction. A recession is defined as two quarters of smaller GDPs. Our GDP has not gotten smaller two consecutive quarters, thus, we are not in a recession.
We have a mess created by the banks when they decided to sell mortgages to people who should never have qualified, and now the banks are having to deal with the repercussions. Intelligent people, like myself, pulled their money OUT of the banks after reading reports on how many loans they sold at what interest rates. (They never tell you it was a sub prime loan. But you can guess that a loan at 8% when people are getting 5 or 6% usually, are probably sub-prime.)
Just like if Hillary or Obama is elected in November, we’ll be in a medical “crunch” because the intelligent people, like myself, will sell all of our stocks in medical companies and pharmaceuticals. If they are going to be socialized, then they will no longer be profitable, and why lose all our retirement money when Hillary or Barrack takes the company away from the private investors and nationalize it?
Unemployment is less then 5%, which up until recently, was considered statistically full employment. (It changed because the libs want to get the White House, but when it was Clinton, 5% was full employment!)
GDP is growing, has been for a LONG time. It slowed in 2007, but there’s a very obvious political reason for that, and I had called it back in November of 2006 that it was going to slow significantly in 2007 if a certain political event happened. That event happened, I shifted my money around to compensate, I made money. If a certain political event happens this year, in November, then in February/March of 2009 the economy will slow significantly, maybe even stall, again and I have fiscal plans to deal with that too.
Fact is, MOST people are making the payments on their mortgages. Fact is, unemployment rates are WAY down. Fact is, bankruptcy rates are WAY down. Fact is, we have a growing and robust economy despite the political desires of certain individuals attempting to get power and the media’s best attempts to drive us into a depression.
