CABL Forum - Re: Biden

People are spending now because no one is saying at all. People are creatures of habit. They do not want to have to change or alter what makes them feel good. But this is all one big problem the administration does not want to look at. If the consumer stops spending and starts saving to be prepared Obama's plans are it the tank. If people don't start saving and all of the rosy projections Obama is depending on don't come true, those who didn't save are in up to their eyeballs. In my opinion there are alot of people walking around with their fingers crossed.

And as for the price of steel and oil for that matter, they are products primarily made overseas and are traded and indexed in US Dollars. The dollar has been falling in value (and I am sure it has nothing to do with brinting billions of new ones) and the actual cost of the steel has stayed flat. So it takes more value declining dollars to by the same amout of value stable steel. I know Obama said this would not happen, but I guess the rest of the world did not get the memo. Alot of the run up in oil is for the same reason. You need more dollars to buy the same amount of goods if the dollar is declining in value.

As far as up or down, in my opinion, we are standing on the edge of the Grand Canyon holding on to the railing leaning over on a 45% angle. Any 1 mistep by either the consumer or government, and over we go. And all of this crap the pols have done in the name of "saving" us, will end up killing us. The actions that they are taking are not safe bets at all. They help them get to where they get the expanded gov't they desire but they do very little to end the current crisis. Right now it is 50/50 at best the way I see it.

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Re: Biden