October 30, 2008
– Comments (6)
Inflation rate, unemployment, and asset price declines...
Interest rates going up?
""That's crazy," said Lynn Tilton, chief executive officer of $6 billion private-equity firm Patriarch Partners in New York, which loans or lends money to more than 70 companies. "This will accelerate the downward spiral of market prices and raise borrowing costs to unsustainable levels." "
Interest rates have been at unsustainable low levels...
Yea these people need to stop trying to keep the debt party going and realize that the only way out of this economic slump is for America to build REAL wealth again, (not inflation/credit related wealth). And also realize that building wealth will require us to feel some SHORT TERM PAIN but we will come out so much stronger in the end.
With the Misery Index at an all time high, maybe it is time to start buying!
outoffocus, feel free to send all your non-REAL wealth to me!
I'm not sure how much that misery index shows the truth about the state of the economy. The peaceful, booming 90s were more miserable than 2000 to 2006? Maybe if you were a Clinton-hater... under him, unemployment nearly halved, from 7.3% to 3.9%.
It's not really all that meaningful to create an index and then manipulate the data so that it skyrockets upwards for the current time period.
"It's at a record high!" Well of course it's at a record high since they threw in a new random variable specifically to get the result of MORE MISERY! I could just as easily create the "HAPPINESS INDEX" and measure it by commodity prices and declare us to be at record levels of happiness!
I'd also have to question how the rate of inflation is a measure of "misery". Since inflation was negative through large chunks of the Great Depression, that would have apparently been one of the less miserable times to have been around.
Gotta love sensationalism.
"Misery loves company... and we're looking for company."
- Bill Cowher, coach, Pittsburg Steelers