Ed Huntress wrote:
"John R. Carroll" wrote in message
...
Ed Huntress wrote:
"F. George McDuffee" wrote in
message ...
On Mon, 30 Nov 2009 16:57:59 -0500, "Ed Huntress"
wrote:

"Ignoramus2298" wrote in
message ...
George, I think that there are income producing assets that
should retain much of their value regardless of devaluation of
currency.

Me, I'm making turkey soup from Thanksgiving leftovers.

I made turkey chimichangas last night. Delicious!

http://allrecipes.com/Cook/13918513/...?postid=140387

LOL
I love the smell of soup cooking. So does my cat!


The initial crisis was wasted, as a political matter, the current
one - employment - is up for grabs.
You simply can not rebuild a consumer based economy if your
consumers are either fearful, impoverished, or both.
It's that simple.

We don't stay fearful for very long.

Recent history casts some doubt there Ed. They were feaful for as long as
Bush needed their votes.
Our current crop of financial wizards have people frightened enough to
prevent real regulatory reform.

However, whether we'll be
impoverished remains to be seen. I do expect us to climb out of this
situation but I don't see the political will to fix some of the
things that clearly are broken -- like the financial industry.

American consumers have lost more than 13 trillion dollars in asset value
alone in the last 18 months Ed.
That's an entire years GDP and qualifies, in my mind anyway, as
impoverishment.
On the whole, Americans as a group are in about as robust a condition
financially as their States are.
Everyone is affected one way or another by the societal losses.

Large numbers of people have now been out of work for a year and are being
disqualified by employers because----- they have been out of work for more
than a year.


--
John R. Carroll