[Rhodes22-list] US Indutrial Output Plunges

[Brad Haslett]

Mike,

Quick and dirty article missing common sense, ie, unemployment is up
due to Detroit's problems (gas guzzlers don't sell at $4 per gallon)
and construction is in a serious slump.  Houses don't sell when
there's an 18 month supply of houses (and sellers haven't come to
grips yet that they were 'hosed' by the housing bubble they all
thought was going to make them 'wealthy').  Banks started competing
with payday loan vendors and just now realized that a loan is only an
asset if you have a half-assed chance of collecting. I'd be laughing
my butt off at all this if each % point drop in the S&P didn't convert
into real dollars in my retirement account.  The Fan & Fred fiasco is
pretty predictable when you establish a business model where gains are
capitalized and losses are socialized, and the board members are
picked by congress. I hate to say this, but, this is a repeat of what
I said on this forum six months ago.  Take your losses, take the
one-time big ass write-off in the next quarter, and move on.  That's
easier said than done when you're dealing with banks and the federal
reserve system but you can take your medicine slowly or all at once.
Whoever is elected to the Executive branch of government in the next
two months won't make a rat's ass difference about the eventual
outcome.

Brad

On Mon, Sep 15, 2008 at 11:06 AM, Michael D. Weisner
<mweisner at ebsmed.com> wrote:
> OK, all you folks on vacation, go back to work!
> http://www.manufacturing.net/News-US-Industrial-Output-Slides.aspx?menuid=36
>
> Energy price instability (just look at the gas prices this past weekend), major institution bankruptcies (and quick sales), increased costs in staple items, high foreclosure rate, increasing unemployment, lower industrial output, weak dollar ... be careful what you wish for if you want to be President!  Now, who was talking about $400 anchors?  We're going to need some real economic anchor points.
>
> Mike
> s/v Shanghai'd Summer ('81)
> Nissequogue River, NY
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