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Recession ... Coming? No, its here.

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MJ DeMarco

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Coming? No its here.

Here is a great article on Marketwatch ... with 11 reasons why it will last for months.

http://www.marketwatch.com/news/story/bernankes-recession-here-11-reasons/story.aspx?guid={39D13A23-5028-4976-9883-BB1975099038}&dist=MostReadHome

And unfortunately, our politicians reaction to this is more taxes and more spending.

Lets see. ... tax the most productive people in the country (business owners who create jobs and add value to society) and redistribute it to the most unproductive people in the country (People who keep the retail/financial sector propped up by incurring debt by buying plasma TV's) ... like putting a bandaid on a slashed carotid artery.
 

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JScott

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Keep in mind that the refund checks that are going out in May are not "free money" -- they're just loans against next year's tax bill...

(which makes it even worse for most people who can't control their spending)
 

kurtyordy

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From what I heard, it is against next years tax return, but there will be a coinciding tax cut which will equal each other out.

In other words and again, this is from what I am hearing on financial talk shows, so take it with a grain of salt, if you typically get a 5k return, you will still get a 5k return on top of the rebate.
 

JScott

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From what I heard, it is against next years tax return, but there will be a coinciding tax cut which will equal each other out.

In other words and again, this is from what I am hearing on financial talk shows, so take it with a grain of salt, if you typically get a 5k return, you will still get a 5k return on top of the rebate.
Well, it probably depends on who's in office at the time...

Bush is certainly going to take credit for "giving away free money," and since most people don't realize this is just a loan, if the IRS tries to collect next tax season as currently planned, whoever is in office will no-doubt look like a jerk...
 
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MJ DeMarco

MJ DeMarco

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The dollar is now at an all time low against the EURO.
 
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MJ DeMarco

MJ DeMarco

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In fact, the USD <> EURO shattered the resistance line which was in mid 149.6's. It broke thru pretty impressively followed by a lot of technical buying. It could mean that the new support line is 149.60's -- it previously was in the 145 range.

A series of new LOWS for the dollar looks to be approaching.
 

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