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Marianne Paskowski



MSNBC to Air Dem Hopefuls

January 11, 2008 12:58 PM

Given the blood bath the economy took this week, and voters now saying that the economy is their most pressing issue, be sure to catch MSNBC to see the Democratic presidential hopefuls debate on Jan. 15 from the Cashman Center in Las Vegas.

As I write this (with CNBC on in the background) I’m watching the tape showing the market down 275 points just 30 minutes from the final bell. I’m hopeful one of the hopefuls can douse the fears of recession that the market seems to be signaling.

Absolutely nothing worked this week. The Fed said it would lower the prime interest rate, but didn’t do it yet. Bank of America bailed out Countrywide, and Sen. Hillary Clinton (D-NY) suggested her plans for an economic stimulus.

Even the safety havens of the market or the so-called Joe Lunchbucket stocks like McDonald’s got hammered today. Is what we are witnessing just a long overdue correction to a bubble, or is it indeed a sign that we’re in recession but just don’t know it yet? Vote here.

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Comments (10)

Chi-town Mike:

Looks like our host has a powder keg for us today, let's see how many people will try lighting it up... :)

Chi-town Mike:

The answer to your question is simply.... "Yes we are in a recession".

The big problem is that I don't think most Americans are even aware that we are in a recession. Some will play the "We are in a war card." That's nice but how much longer do we need to spend 6 billion dollars a day for a country that doesn't seem to embrace Democracy anyway?

Then as stated in the topic, we have Bank of America bailing of Countrywide. Sure BOA has deep pockets, but this is such a "bandage" that the blood is pouring right through it. We have a housing market that's falling like the Dot-Coms of the 90s. Ask a Florida resident how much they originally paid for their home and how much it's worth now. As for sub prime loans.... Did anyone get the memo from Texas a couple of years ago when this started?

Of course this isn't just about homes, many Americans are in major debt. Unfortunately our government isn't setting the greatest example either, because we seriously owe China. It's so bad that President Bush is probably screening his calls every time a Chinese collection agency calls him.

All of our current candidates are talking about many different ways on how they can fix the economy. Hopefully whoever takes office has a plan that will work because as Ben Franklin once said, "Well done is much better than well said"...

Marianne Paskowski:

Chi,

Couldn't agree more with you about the "R" word. The old definition of two consecutive quarters of decline doesn't not define a recession anymore. Larger factors at play, like the subprime.

Last Friday's disaster in the market finally woke up GW. Lead story in the NYT said he was "studying" it, what that means.

Funny, our country is now considered an emerging nation. I read all this BS about, for example, the TV ad market being strong.

If that's the case why am I seeing so many ads for my cable operator Comcast running, and not companies that are paying for the ad time?

Having said that the most hilarious commercials are those that run on CNBC all day for Countrywide. Get real America and face the music.

As always, thanks for your enlightening post, Chi.

Marianne

Recession - big time. Things are going to get worse, possibly much worse, before they improve substantially. All of this war debt being transferred to our children and their children; the mortgage market - which had been artificially inflated for years - tanking hard; gigantic corporate subsidies and special contracts if you happen to have once worked for the VP, etc. aren't helping.

Of course, that now makes me an "America basher," in the view of some head-in-the-sanders...

Marianne Paskowski:

James,

I lost you, what's the VP? You're not an America basher, you are a realist. Some people are really ticked off about the Arabian nations and China coming to our country's rescue. Well, just guess it's a new day.

I play the market, not a single media stock, and I don't like what I'm seeing at all with the safety nets.

Tomorrow is another day, thanks for your post and nice to see you back.

Marianne

Marianne:

VP = Vice President (KBR, Halliburton, etc.)

Marianne Paskowski:

James,
Oh, you mean the real president pulling the puppet's strings. Did you work for one of those outfits?

Marianne

Fortunately, I can say that I was never employed by one of those firms.

In truth, we all indirectly work for one of those outfits when we go to work, get paid, pay taxes on our income and then part of our taxes are handed off without our consent to those outfits via no-bid contracts in Iraq, Afghanistan and elsewhere...

John Golden:

Marianne:

First things first, long time no see, how have you been, it is I, lone conservative "head-in-the-sander" from Indiana.

Are we in a recession?; some may be but not I. My wife works for a title insurance company and she is absolutely swamped with work. She handles new recordings, primarily residential, and she sees no let up. We just sold some property and we are looking at buying a new home soon. Could it be worse?, you bet, like when Jimmy Carter was President.

Things like this a cyclical, they have happened before and they will again.

Again, it is nice to see your work again.

Marianne Paskowski:

John,
Welcome back, been a long time for you. Good to hear things are going well in Indiana. Tonight the Dems debate in Nevada, the state with the highest rate of home foreclosures.

And we have the GOP primary in your nearby state of Michigan. Market's down 231 right now, not good John. Citibank has bad numbers and the street goes gonzo.

That's good?

Thanks for your post,
Marianne

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