The news today was not good as world markets fell due to horrific economic news and the possible end to the bull market. Unemployment numbers world wide are terrible and US futures have opened at .5%, which is not exactly a ringing endorsement of what investors see coming down the road.
Several experts are saying a downturn is overdue with a probably correction of 5-7%, possibly sometime around Obama's State of the Union Address, which will be filled with untruths and outright lies that many are going to see through. Our government is fixing the unemployment numbers, just not in the way the Republicans have said. The numbers were first fixed by Reagan back in the early eighties and then by Clinton in the 90's by simply changing the way the CPI is looked at. Obama and the GOP have both made claims to a "chained" CPI which, if enacted, would destroy our lousy economy. Luckily, the democrats have been firmly against such a plan and thank God for that. This was the worst plan Obama ever had to make the GOP take a budget deal, but morons that they are, threw it back it in his face and now have little chance of getting anything.
Many people, like myself, see a stock market as an unregulated casino where the Big Boys have unfettered access to information and computers that the rest is us don't and are scamming the markets in doing so. The stock market is reaching record highs, but the fact that two thirds of this country is making less than $41,000 a year is a travesty that, sooner or later, will crash the economy. Our middle class is officially dead now and the assholes out there putting people into office on both sides of the aisle from Nancy Pelosi to John Boehner should be ashamed of the damage they have done by voting these morons into office.
The election in Italy is casing problems as convicted felon and former PM Silvio Berlusconi is running for a fourth term and might actually win, meaning Italians are the stupidest mother fuckers on the fact of the Earth. He is currently in second place. This is sending the markets throughout Europe downward as NO ONE outside of the country thinks this is good thing. The only good news is that some polls say that a third of the country doesn't like anybody for PM meaning they get same elections we get: idiots voting for people who have no business running for office.
As stocks continue to drop, another reason is the deadly flare up between Israel and the Syria/Iran/Lebanon Axis of Stupidity. The Axis is saying Lebanon will get those SA-17 missiles come hell or high water with Israel responding that a no fly zone may be implemented to prevent such a thing from happening. Good times. As predicted, everyone shouted loudly but did nothing. No one wants a wider war, especially if you know you will get flattened in the process. But if they follow through with their threat to move missiles again, Israel will strike and the Axis will eventually be forced to respond, if no other reason, then to save face. This could go nuclear in a heartbeat if things spiral out of control as wars have a tendency to do.
Iran is telling the IEAE to come on back and inspect all the sites they want, to which the UN has responded, thanks but no thanks. They have been invited several times to do just that, and once they arrive, the parameters change and the inspectors get nothing done. Talks have broken down between all sides and things look bleak for a peaceful resolution that had little chance of success. Iran wants nukes, period. Israel will destroy the country to prevent that from happening. What do you think the end result will be in that scenario?
Meanwhile, the Republican party is refusing to acknowledge they lost the last election and are currently figuring out new and inventive ways to lose in upcoming elections. The best story I heard today was the the GOP was courting Ann Romney to run for the interm Senate position here in MA. And if not her, how about her son Tagg. Does the GOP really think that if either of these two run, the end result will not be a rout for the republicans? Mitt lost badly here in the Presidential race and anyone even attached to his name is going to have a rough ride running for dogcatcher let alone the Senate. The GOP is unlikely to change their ways, meaning ultimately, the Republican party is doomed with no chance of winning future elections unless they cheat because they philosophy is not one that a majority of this country has anymore and their key supporters are dying out.
So things look bleak again as they always do right before spring. The only difference is that this year could be catastrophic.