Do you have confidence in Timothy Geithner?

[briansd1]

[quote=CA renter]
IMHO, the worst is yet to come. There is no easy way out of this mess. The only ones who have won are the bankers who had direct access to the policymakers and regulators who’ve funneled money in their direction. They’ve long hedged against inflation by buying up assets of all kinds (including commodities, forcing poor people around the world to starve). In the meantime, workers receive their wages in USD, which are becoming more and more worthless by the day.[/quote]

What about coming deflation?

BTW, while the economy is growing, you still have a time to buy a house. I believe the prices will continue to stagnate or adjust downward in the next year, as unemployment remains high and all the accidental landlords look to unload.

The economy is gathering steam and that’s a good sign that resources are being allocated to areas other than housing.

Top Fed officials now expect the output of goods and services to grow by 3.4 percent to 3.9 percent this year, up from the previous forecast, released in November, of 3 percent to 3.6 percent. But their grim outlook for the job market was largely unchanged: 8.8 percent to 9 percent unemployment this year, only one-tenth of a percentage point lower than in the November forecast.

[CA renter]

[quote=SK in CV][quote=CA renter]
Who says a “Great Depression” has been avoided? Look at what’s happened to our national debt, much of it attributed to the bailouts of the financial industry.

[/quote]

In fairness, that claim is not really true. The TARP bailout was about $700 billion. Much of the rest of economic rescue monies over the last few years can’t accurately be called financial industry bailouts. It total, it’s probably around $1 trillion. Out of $13 trillion in federal debt. Something less than 8%. Not to minimize it, but even if none of the bailouts ever happened, we’d still have a huge debt problem.[/quote]

The TARP bailout was just the icing on the cake. If you look at the CNN bailout tracker link posted above, you’ll see that $11 trillion has been committed to various bailout/stimulus measures, and $3 trillion was already spent. Those numbers are from late 2009, and I’d like to see more updated numbers, but that’s the best I can find for now.

We have not even begun to realize the losses that we’ll see on all the GSE and FHA loans made over the past few years. I believe we are going to see a tremendous default rate on those as well.

[CA renter]

[quote=SK in CV][quote=CA renter]
Who says a “Great Depression” has been avoided? Look at what’s happened to our national debt, much of it attributed to the bailouts of the financial industry.

[/quote]

In fairness, that claim is not really true. The TARP bailout was about $700 billion. Much of the rest of economic rescue monies over the last few years can’t accurately be called financial industry bailouts. It total, it’s probably around $1 trillion. Out of $13 trillion in federal debt. Something less than 8%. Not to minimize it, but even if none of the bailouts ever happened, we’d still have a huge debt problem.[/quote]

The TARP bailout was just the icing on the cake. If you look at the CNN bailout tracker link posted above, you’ll see that $11 trillion has been committed to various bailout/stimulus measures, and $3 trillion was already spent. Those numbers are from late 2009, and I’d like to see more updated numbers, but that’s the best I can find for now.

We have not even begun to realize the losses that we’ll see on all the GSE and FHA loans made over the past few years. I believe we are going to see a tremendous default rate on those as well.

[CA renter]

[quote=SK in CV][quote=CA renter]
Who says a “Great Depression” has been avoided? Look at what’s happened to our national debt, much of it attributed to the bailouts of the financial industry.

[/quote]

In fairness, that claim is not really true. The TARP bailout was about $700 billion. Much of the rest of economic rescue monies over the last few years can’t accurately be called financial industry bailouts. It total, it’s probably around $1 trillion. Out of $13 trillion in federal debt. Something less than 8%. Not to minimize it, but even if none of the bailouts ever happened, we’d still have a huge debt problem.[/quote]

The TARP bailout was just the icing on the cake. If you look at the CNN bailout tracker link posted above, you’ll see that $11 trillion has been committed to various bailout/stimulus measures, and $3 trillion was already spent. Those numbers are from late 2009, and I’d like to see more updated numbers, but that’s the best I can find for now.

We have not even begun to realize the losses that we’ll see on all the GSE and FHA loans made over the past few years. I believe we are going to see a tremendous default rate on those as well.

[CA renter]

[quote=SK in CV][quote=CA renter]
Who says a “Great Depression” has been avoided? Look at what’s happened to our national debt, much of it attributed to the bailouts of the financial industry.

[/quote]

In fairness, that claim is not really true. The TARP bailout was about $700 billion. Much of the rest of economic rescue monies over the last few years can’t accurately be called financial industry bailouts. It total, it’s probably around $1 trillion. Out of $13 trillion in federal debt. Something less than 8%. Not to minimize it, but even if none of the bailouts ever happened, we’d still have a huge debt problem.[/quote]

The TARP bailout was just the icing on the cake. If you look at the CNN bailout tracker link posted above, you’ll see that $11 trillion has been committed to various bailout/stimulus measures, and $3 trillion was already spent. Those numbers are from late 2009, and I’d like to see more updated numbers, but that’s the best I can find for now.

We have not even begun to realize the losses that we’ll see on all the GSE and FHA loans made over the past few years. I believe we are going to see a tremendous default rate on those as well.

[CA renter]

[quote=SK in CV][quote=CA renter]
Who says a “Great Depression” has been avoided? Look at what’s happened to our national debt, much of it attributed to the bailouts of the financial industry.

[/quote]

In fairness, that claim is not really true. The TARP bailout was about $700 billion. Much of the rest of economic rescue monies over the last few years can’t accurately be called financial industry bailouts. It total, it’s probably around $1 trillion. Out of $13 trillion in federal debt. Something less than 8%. Not to minimize it, but even if none of the bailouts ever happened, we’d still have a huge debt problem.[/quote]

The TARP bailout was just the icing on the cake. If you look at the CNN bailout tracker link posted above, you’ll see that $11 trillion has been committed to various bailout/stimulus measures, and $3 trillion was already spent. Those numbers are from late 2009, and I’d like to see more updated numbers, but that’s the best I can find for now.

We have not even begun to realize the losses that we’ll see on all the GSE and FHA loans made over the past few years. I believe we are going to see a tremendous default rate on those as well.

[Author]

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