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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (102237)	9/20/2009 12:52:54 PM
From: Chas.	2 Recommendations Read Replies (1) \| Respond to of 116555

The good new is not everyone is over-indebted, even when you add the domino effects of bankruptcies causing bankruptcies. There remains many solidly financed businesses and consumers who provide the basis for the strong eventual strong economic recovery, after the profligate have eliminated their debt through bankruptcy and the imprudent have lost their assets. This new lower-cost and low-leverage economy has amazing resilience and growth potential. Attempting to hang on to they dying debt-sclerotic husk only delays this recovery by leaving these dying barriers in the path of those who can succeed. Keeping in mind that all here tend to oversimplify and generalize including you and I.... I would offer in opposition to your above statement the following.... A recovery equal to anything since 1950 is not possible under our given circumstance of Unemployment and lack of Manufacturing or simply stated Jobs... America's Middle Class will be forced into a much lower Standard of Living by as much as 50% in most cases, the poor will remain poor but receive new entitlements thru the Obama Administration while the Rich will continue to reap Wall Streets largess and greed while getting a Green Light from our own Financial Wizards in DC.... Severial adjustments are in order down the road...unless a new Paradigm of employment miracuslously appears.... JMHO....