It's gonna hurt later than sooner: Ladies and gentlemen, please put your tray tables up and return your seatback cushions into thier upright and locked positions; We're NOT in for a soft-water landing. This goes back to the old statement "be careful what you ask for." Look, the massive infusion of funds into the US economy is only a bandaid. It is NOT the cure to the cause. Remember your Greek mythology: Cut the head off the Hydra, and two grow back in its place. Such is true in the short term stimulus package here. In two years, maybe up to five (but I'm taking the "under" in this bet)...we're screwed. Interest rates WILL BE back in the double digits; 12 to 16% rates on loans will not be a surprise. Remember when the Dow would change 400 points in a day and it would be in 6000 point font on the newspaper? Today we have 800 point swings in a day and it lands in the classifieds on page D-7. Unemployment; Half Million jobs lost; sweep that under page C-3 under the local murder story. Folks. Conspiracy theories abound, but it is COMING. Learn from your history. For over 24 months I've been blogging on the forecasts; and they've been dead on with the exception of ONE rate cut miscalculation. Infusion of cash will fix a few roads, repair some buildings, buy some government office furniture...but the so-called "pork" of what is coming is a slaughterhouse. This won't be a soft water landing in the waterways of NYC, this will be Flight 800. Lock in your rates now. http://www.ptre.net/ Pat Townsley, Agent to the stars. 415-485-1776.
Thursday, February 12, 2009
Inflation Cometh, Oh Yes, Brace for impact
It's gonna hurt later than sooner: Ladies and gentlemen, please put your tray tables up and return your seatback cushions into thier upright and locked positions; We're NOT in for a soft-water landing. This goes back to the old statement "be careful what you ask for." Look, the massive infusion of funds into the US economy is only a bandaid. It is NOT the cure to the cause. Remember your Greek mythology: Cut the head off the Hydra, and two grow back in its place. Such is true in the short term stimulus package here. In two years, maybe up to five (but I'm taking the "under" in this bet)...we're screwed. Interest rates WILL BE back in the double digits; 12 to 16% rates on loans will not be a surprise. Remember when the Dow would change 400 points in a day and it would be in 6000 point font on the newspaper? Today we have 800 point swings in a day and it lands in the classifieds on page D-7. Unemployment; Half Million jobs lost; sweep that under page C-3 under the local murder story. Folks. Conspiracy theories abound, but it is COMING. Learn from your history. For over 24 months I've been blogging on the forecasts; and they've been dead on with the exception of ONE rate cut miscalculation. Infusion of cash will fix a few roads, repair some buildings, buy some government office furniture...but the so-called "pork" of what is coming is a slaughterhouse. This won't be a soft water landing in the waterways of NYC, this will be Flight 800. Lock in your rates now. http://www.ptre.net/ Pat Townsley, Agent to the stars. 415-485-1776.
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