Baucus sees economic hope coming
The nation's economic skid is close to bottoming out, Democratic Sen. Max Baucus said after a speech Tuesday, but expect some "hiccups" before the recession hits bottom
Baucus, chairman of the Senate Finance Committee, spoke to a group of civic leaders and business people in a luncheon sponsored by the Helena Area Chamber of Commerce.
He said Congress has a role to play in reforming banking laws that may have led to some of the excesses behind the slump.
Don't get me wrong here, I hope he is right but I'm not too sure. This whole thing has the same feel that the Japanese economic meltdown some 15 year ago had. Both had there basis in inflated land prices and when that finally broke open the government had to scramble to attempt to bail out financial institutions to try to keep them solvent. Japan took over 10 years to work its way out of the mess. Sen. Max Baucus thinks we will be able to work out of it in months?
Maybe his crystal ball is that good. If it was me though I would keep the receipt on the damned thing. I think it might be broke.
It's not an exaggeration to say that we're on the verge of a meltdown. John Hart
So there is a HUGE kick in the butt [no not Butte, butt] coming moneywise to the individual.
Next the housing bubble is coming to a close with Lehman Brothers not needing a bail-out Monday morning [showed a small profit actually on the sub-prime loads] shows that maybe the recession is winding down.
We still have problems, HIGH [very high] oil prices are artificial and needs something to burst that bubble [like opening up every oil field everywhere in the US to drilling PLUS a few new refineries being built to process all the oil being found]
We are on the way to a pretty good boom, but the $600 bucks isn't really needed just keep the tax cuts in place and that would be enough.
Mike D.
Milford, OH
We are no way in the trouble that Japan had, no way... BUT thats another class.
Class dismissed. Bring me an apple next time.
As of last Thursday (from the Wall St Journal) 96.8% of all home mortgages are paid and up to date. The of the 3.2% only 2% are in foreclosure and either abandoned or lived in without paying awaiting the Sheriff. The other 1.2% are 30 days behind or less (how you judge less is questionable to me).
Now the stock market is saying these abandoned home are worth ZERO, NOTHING no value at all. Well here in Milford OH I have one home that is empty on our street and it sure is worth more than ZERO. Problem is how much? This is where the US Government needs to step in an start placing value on the home and let the banks sell 'em. Right my bank JP Morgan Chase is holding 5000 homes in Ohio alone, value ZERO. How can my home be worth $250k and a home three doors down the street be worth zero. Put the homes on the market sell 'em and move on. End of crisis, no one wants to be first to sell the inventory for FEAR yes FEAR of taking a loss and getting sued by the shareholders. A' holes are screwing this up.
Mike Desmond
PS: I Michael J. Desmond do not and will not EVER believe you Sarpy Sam have a uneducated position period, you see I've read you stuff.