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|User Info||Consumer Sentiment: Awful; entered at 2009-08-14 11:13:42|
Registered: 2007-07-27 Wisconsin
On a message board for the local college team there is a politics board and anything financial goes on there. Overall, a pretty good board debating most things with a few fringe whackos from both sides. Last week a guy posted on there
Hey Republicans where is the doom - the stock market is up 50%
I proceeded to tear into him that he needs do the full math and not to cherry pick data. Yep I'm down 2% this year overall and 60% in my trading account but over the last three years here is my return. His reply was that he left the market in December. Yeah right. There are several people who proceeded to let him know it was not a republican thing, it was financial awareness of the global economy. He thinks we are a bunch of crazies. I've had some interesting private conversations with him lately and found out he lives in Boulder is in sales to sell textbooks to universities and his biggest client is the Uof Cal and Cal STate systems. His viewpoint of a consumer staple such as a grocery store or Kraft is Whole Foods. I actually feel bad for him as he cannot wrap his mind from his upper middle class income is that the debt has dried up for most and we are not going back.
The reason I am posting this is that while many on here think that there is a plan by some of the elite in this country that this was purposely set in motion 10,20 years back it appears more that people are unwilling to accept change regardless of what is staring back at them. The bankers are all trying to save themselves and get their old business plan working and cannot figure out why it won't. They accept that they have to change but cannot follow that everyone else is doing the same. Its teh prisoners dilemna all over again. They could pump this market to 3000 on the S&P if they worked together and wrote **** loans but individually one will opt out for his own sake and there is your endgame.
Go out and check sports message boards and ask about who's going on road trips this year. It looks like its down 20-40% but no one admits it.