The Author discusses in this article the present status of economy and stock market. According to Author, the markets have reached the crescendo. The markets may stay stable or rise by another 400 to 600 points due to January effect, after which the calamitous collapse may begin. We are almost near to apocalypse. Serious meltdown is about to begin soon. Beware..
Rating agencies are rated very high in investor’s world because their actions cause rise or fall in bonds prices. Secretly they all hate them – but they can not be eloquent. Often, these agencies are being abused by the Authorities to serve their political agenda. US despite 12 trillions of debt is rated AAA and China with $ 2.3 trillions of forex reserve is rated A+, Read this article for more insights..
The present credit crisis is getting out of hand. President Obama has to do something very fast. His good oratory will certainly help people gain confidence but it can easily evaporate. Target specific actions are required. Merely trying to help the defunct banks is like throwing good money after bad money. It is time to preserve what is already in good condition and discard what is bad or worst. The author describes a game plan and step by step strategy to de freeze the credit and get the economy rolling again. It will work. The author who has written a book called “Sub Prime Resolved” is nearly ready and will be published soon. It contains complete step by step solution to entire range of crisis. It is in fact a “Bible of Economic Recovery of United states.
The author critically examines the preemptive days of Barrack Obama before he assumes the Presidency. He held out lots of promises that gave him the opportunity to become President of United States. But the chaos that has set in has already made his life miserable. He is unable to force any change by recruiting only trusted old guards from erstwhile Clinton Administration. His choices of people, his priorities, and his views on economy and resolution of economic crisis are so poor that he is promising to be yet another “mediocre” to rule the United States. The nation is on the verge of breaking apart, the Author claims, and it is possible the fate of USA will imitate that of USSR, and in that case, Obama will perhaps be the last ruling president of a beautiful nation once upon a time called United States of America. Read further….
The author examines the role of the FED, Treasury, Senate and the President in denying paltry $34 billions of loan package to US Automakers, viz. GM, Ford and Chrysler and save 3 Million jobs while liberally giving $410 billions in loans and guarantees to Citigroup who fired 75,000 employees. Is FED creating unemployment? It would cost otherwise $200 billions by not helping the Automaker due to massive rise in unemployment allowance by $200 Billions combined with lost taxes. Is it real stupidity or does it point to corruption in high places. FED distributed over $ 2trillion dollars in last 2 months in non transparent operation. Something is wrong somewhere.
The author starkly contrasts the accomodating policy of giving billions of dollars to bankrupt brokers for their off shore operations, while denying 3 Auto makers of just $25 billions to stave off the bankruptcy that would otherwise cause over 3 millions of job losses. Read more..