re: #949 3 wood

Sure I will. I probably will see him tonight.

In financial news folks, the whole focus this week will revolve around the “toxic assets”. The market as a whole has gotten tired of waiting on the Obama Administration to deal with these in a way that makes sense. Until the “toxic assets” are dealt with, the market will assume that the banking system is going to be nationalized, which means that share holder equity will go to zero, so financial stocks will drop to near zero and stay there unless and until Geithner finds a clue.

What about the focus on Obama’s “balanced budget” plan, which news of some of the plan has leaked out this weekend.

I read what info was available and it seems to me that first, he is trying to break successful private business by increasing taxes on them and second, ruin thing for those who are making larger salaries by increasing their tax burden.

So, you make it harder for business to do business, so they fail, so the government takes them over and too hell with the upper middle class, let’s kick them down to the level of many others and make them dependent on the government.

In my opinion, since Obama is going right ahead with his promise to “distribute the wealth,” there is no stopping the fall of our whole economy.