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Sir;...Tell me you don't get that, that when people are laid off productivity increases...It is part of the same theory, that the  best bilge pump in the world is a scared man with a bucket...The problem is not really productivity, and the stock market will figure that out... The problem is markets, and ours has been sucked dry...That is the why of the stimulus bill...It is to prime the pump; but my bet is, that too much value has been taken from this society, and even from the world market, and to start up the debt machine even slightly will suck more value out than God or the working man can produce... Everyone talks like the society cannot get by without credit, and yet when the credit people are supported they will not bet a penny on their society, but sit on it looking for a sure bet... Here it is...Nothing happens without profit, but the profit has been taken out of the whole society from the actions of government to every exchange at the grocery store by the inexorable demands of interest...Where is the benefit for the whole society??? Is silence your answer??? Because a little interest may be a good thing; but interest on every single thing is usury...If the government wants to prime the pump, instead of stealing value from the whole money supply, they should just drain the life blood out of every tenth person in the country...That ought to hold the rich for a while....Thanks...Sweeney
Comment: #1
Posted by: James A, Sweeney
Sun Feb 8, 2009 2:45 PM
Mr. Kudlow - Here you go again. Tell me what message the market sent this week when it plunged over 6%???? Your quick and apparently short-handed analysis of the mkt's reaction to bad employment figures are basically BASELESS. State of employment is a lagging indicator if it is close to hitting the bottom! You should know that. Well, as we saw this week, it is not. Other employment variables must be observed too. For example, while unemployment has increased so much lately, have we seen any slight turnaround or increase in temp jobs? What's the status of temporary employment? Well, Mr. Kudlow, that's sinking too, which means that businesses aren't yet considering to maybe implement their growth startegies, which means the economy is continuing to take a big dump. Of course after years of our economy's complete 'constipation', this is not a surprise. And you are also ignoring the fact that consumers will be saving more, and that credit cards won't be thrown at them like they were in the past. So, with a higher savings rate (thank God!), lower income (as many no longer have jobs) and less credit to make up for the lower income, the consumer will not be ... consuming for a long time. Consumption will stay at low levels for a long time. As I mentioned before, it appears that you are bullish no matter what, and have been for years. On 1/9/09, I wrote to you on cnbc that your bullish attitue is not correct, I also said that you should just stop talking and buy gold. Well, since then, the dow has plummted 1,000 points and gold crossed $1,000 per ounce yesterday. At least try to give a couple of specific stock recommendations, because your macro read of the economy still needs some translation! Or maybe some trading tips, because right now is a bad time for investors, but such volatility makes it perfect for traders. We'll see what you say next week. Expect Monday to be an ok day as we should see a little dead cat bounce ... now I'm talking about a tiny dead cat. And these Obama announcements (taxes cut asap, budget deficit down 50% in 4 years, etc) may keep the hope alive for some investors. But as we have seen before, reality will hit sooner or later ... and Mr. Kudlow, that reality sure hasn't been pretty!
Comment: #2
Posted by: Ali Mogharabi
Sun Feb 22, 2009 10:13 AM
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