Welcome to Slider's Dugout Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Welcome to Slider's Dugout

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: SliderOnTheBlack	5/22/2009 11:20:28 AM
	7 Recommendations of 50289

Potential Ratings Cut Rattles Geithner... bloomberg.com May 22 (Bloomberg) -- Treasury Secretary Timothy Geithner committed to cutting the budget deficit as concern about deteriorating U.S. creditworthiness deepened, and ascribed a sell-off in Treasuries to prospects for an economic recovery. “It’s very important that this Congress and this president put in place policies that will bring those deficits down to a sustainable level over the medium term,” Geithner said in an interview with Bloomberg Television yesterday. He added that the target is reducing the gap to about 3 percent of gross domestic product, from a projected 12.9 percent this year. The dollar extended declines today after Treasuries and American stocks slumped on concern the U.S. government’s debt rating may at some point be lowered... (continued at link above). -------------------- Anyone who thinks we've seen the last bailouts, or the last stimulus package... and that either Geithner, or Obama are going to be able to cut US deficits is dreaming. Credit card defaults still rising, and no where near peak. Commercial Real Estate collapse is just beginning. The CRE market faces huge financing rollovers on properties that now have negative equity and won't be refinanced. Budget crisis' are going pandemic among both states and local governments. Tax revenues are collapsing. And this will be THE #1 story in 2010. And as I said last year... wait until 2-3 (6 month) unemployment cycles end. After 6 months, most states require that the unemployed worker take any job offer, even minimum wage. Even if the rate of joblessness slows, the rate of vastly underemployed will not. $65,000 a year accountants & engineers working for $9 an hour x 30 hours a week at Lowes, or WalMart doesn't lead to economic recovery. Tick, Tock... SOTB

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next