Tuesday, November 18, 2008

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First, Art Hogan, chief market strategist at Jefferies & Co., described this as the biggest economic crisis since the Great Depression of the 1930s and the railroad bankruptcies of the 1800s. "We-ve never witnessed this before," said Hogan before Bush-s speech. "There-s no road map for this." Unemployment and foreclosures at 7-yr highs, 700 Billion bailouts for banks, property value in the Springs drop 24.3% in the last year and with them go property taxes, stock market is in free fall- and there are STILL people who think this is a correction? Perhaps it is, to the contractors, especially the contractors who are scheduled to make 300%, 400% profits, and more, on the new gym. A second point is those who think that Gymbo and the other flunkies are charging up their credit cards to the max, etc., have missed one crucial point - that would be spending THEIR money. They only charge up to the max OUR credit cards, because THEY dont have to pay them back! WE DO.

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