"The Worst Is Yet to Come"

[WildspitzE]

"The Worst Is Yet to Come": If You're Not Petrified, You're Not Paying Attention

Includes a video... that guy speaks in a very humorous way, but what he's saying isn't that funny.

http://tinyurl.com/q6dz4d

As for all the hullabaloo about the stress tests, he says they were a sham and part of a "con game to get private money to finance these institutions because [Treasury] can't get more money from Congress. It's the ‘greater fool' theory."

[WildspitzE]

Re: "The Worst Is Yet to Come"

Here's another w/same guy:

"That's Not the American Way": Chrysler's Bailout and the Road to Ruin

http://tinyurl.com/ona68y

Barack Obama's plan is to "sustain the union" in an effort to secure future votes in five key Midwestern states, Davidowitz says, without hesitation. "We the taxpayers are bailing out the union [and] bailing out Chrysler, which is an inefficient company that shouldn't survive and can't survive in the long run, anyway."

More generally, the Chrysler saga is evidence of how "we keep putting more money into hopeless companies," he says. "That's not the American way. We let inefficient companies collapse and be replaced by more efficient companies. That's the only way this economy can work."

...

By propping up inefficient companies and keeping zombie banks alive, Davidowitz says "we are exactly on the same path as Japan," which is now two decades into its economic malaise.

But there's one key difference between the U.S. and Japan: While they had about $16 trillion in savings and a 19% savings rate when their bubble burst in 1989, the U.S. savings rate was negative a year ago, a now a relatively meager 4.2%.

[cjppjc]

Re: "The Worst Is Yet to Come"

I've seen him a lot on CNBC. He is a retail analyist. He is very good at picking retail stocks. A while ago he said a lot of stores were going to go under. How we doin?

[flintlock]

Re: "The Worst Is Yet to Come"

I agree with the guy. Worst is yet to come.