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General Motors Corporation |
FINANCIAL INDEPENDENCE DAY - STARVE THE BEAST
We're undergoing a de-leveraging process. Expect the DJIA to bottom at
5000 or lower.
Americans are starting to come to their senses. The savings rate
reached 6.9% last month, the highest level in 15 years. This brought
the level up to the long-term average. As usual, the pundits on CNBC
have concluded that now that we've reached the average, everything is
roses and the consumer can resume their free spending ways and save
our economy. These fools have no concept of history, averages or
cycles. The savings rate has been in a downward spiral for 30 years.
Consumers have lost $14 trillion of net worth and 5,000 per day turn
65. Most people have miniscule retirement savings and 14.7 million are
unemployed. The savings rate will go up for the next two decades as
people must save.
good articles: http://iamned.com
Why are so many people here pro-Obama, pro bailout, economic
Pollyannas? Out of all the people who have replied to may posts maybe
10-20% agree with me. Only other website the percentage is much higher.