Losing Our Past, Dooming Our Future

So much for the Hillary Rally (“Rallary“) the market put on Tuesday.  This morning we’re back to the bull and bear slugfest in earnest..

Futures were up a tad, but we’re really in a trading range as you’ll see in this morning’s ChartPack.

Our main concern now is not so much about the looming (early 2017) recession.  It’s about the horrific debt burden on young people from things like education debt, that will dramatically slow, or even prevent the next recovery.

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25 thoughts on “Losing Our Past, Dooming Our Future”

  1. “A fronte praceipitium a tergo lupi”

    we are faced with a precipice in front and wolves at the back.. either way.. unless we increase manufacturing and increase income by taxing incoming goods and services taxing those that have and hide their money outside the usa.. we are screwed.. then we are screwed then to because products costs will go up and the middle and lower class cannot afford to buy them .. figure if they are living on credit cards now.. or paycheck to paycheck like we are.. there isn’t extra money to pay for it.. Unless big corporations returned back to the way of the corporate leaders of the past.. here is a story..
    My father worked for a corporation that literally spanned the globe and still does.. he was a deliveryman.. when I was a little boy.. I think five or six.. it was my birthday my father went in to do his manifest.. and the ceo was there from New York.. I of course told him it was my birthday.. he took me into the backroom and gave me my choice of products they sold.. for a birthday present.. years later.. ( the company had a no family member working for the same branch rule) I was offloading a semi trailer.. the drivers got paid to unload and so they could take a nap would hire kids to unload the truck.. along came the ceo inspecting one of his warehouses.. he seen me took off his jacket.. came in and for two hours we chit chatted and unloaded a trailer together.. rush ahead years.. I am now an old man teen agers I am working a part time job at a local store.. I am sacking groceries.. along comes the ceo.. he is inspecting local stores to see how his products are being displayed.. and is about to sell off his company.. he sees me.. stops once again takes off his jacket.. while my bosses were watching and not knowing what to do.. and helped me sack groceries for a few minutes and discuss my fathers retirement and my parents having their fiftieth wedding anniversary and my brothers and sisters…. Now this story isn’t just his company.. he had tens of thousands of employees.. but he not only knew me he knew my family.. My bet is he knew them all families of people he employed.. a local manufacturer was the same way.. he bought a large screen tv enjoyed it so much that everyone he employed got one.. he went on a cruise the plant went with.. he found out that single parents missed more time because of sick kids.(I would love to give you my sam walton story.. its just as good and I am sure his kids are nothing like the old man.)anyway the local manufacturer created a daycare and busing service was created at the plant and a sick child area..
    Now those days are long gone no longer do corporations give free medical and dental or even act like they care about the employee…. today its about profit.. our corporations no longer see their employees as family but as a means of making huge profits screw the guy below and I am willing to bet they don’t know the name of the guy or lady that is emptying their trash.. much less an employee from thousands of miles away and his family and their concerns.. long after my father died.. when he sold the company off.. he made sure that all of his employees were taken care of.. they never paid more than a hundred dollars a year in health care costs.. and those that are still alive have the same benefits.. I use to get the biggest thrill out of going for my mothers prescriptions.. they would always do a double take when they would say.. that will be twenty cents.. LOL LOL LOL.. that is what would have to happen.. pride in being made in america..
    Thats why I think the Donald is the man.. he knows you have to bring back american pride.. american manufacturing.. strengthen the dollar.. the road will be painful.. since prices will go up.. if a corporation can hide profits in the islands and get goods delivered duty free.. they will if taxes goes up on goods..so will the costs..if we don’t the problem is just as bad because the dollar is loosing strength.. its a catch twenty two.. but then that is my opinion..

    • I loved the first part of your story . . . but not the last . . . Donald Trump has been horrible in his relations with the people he has hired, both employees and the companies he hired. He payed his employees below market rate – often foreign workers who didn’t know the difference and many times the companies he hired, he ‘stiffed’ by only giving them part of what was owed and said that they ‘could take it or sue him’, knowing full well that as a big bully he could do as he pleased.

      Donald Trump is not ‘cut in the cloth’ of the old style of employer.

      • Of course you wouldn’t like the last part of the story because you are a liberal. I am now beginning to see that liberals are not only mentally damaged but they are also LAZY. They are good at watching the bought and paid for MSM so they can learn all about their bought and paid for Hillary, and also get fed the non-stop programming and lies being said about Donald Trump. What is more indicative of what our country has turned into, Liars like Hillary, or her minions?

      • You are drinking the Kool-Aid MDS. Dig a little deeper.

        Yes, among the tens of thousands of employees he has had over the years, (and still does) one can find a number who have a sad story to tell. And, there will be a number of subcontractors who didn’t deliver as promised, who got Trumps back hand. But, the great majority of his employees, the business’ he works with, business associates and even his ex wives have nothing but praise for the man.

      • You know that if ANY of Donald’s ex-employees or of his ex-subcontractors didn’t get paid what they should it was ethically and often legally immoral. Am I liberal? Most people I know would say that I am old-fashioned when it comes to fairness and doing ‘what is right’.

        I got my first job when I was twelve – non-paid – working as a ‘gofer’ for the school I was attending as they knew I was trustworthy and wouldn’t mess around and I was also checking my mother’s sums as a bookkeeper.

        Ended in my sixties as a security dispatcher, and volunteered as the same for a friend every night as I like keeping people safe.

        So I consider myself as ‘conserving’ and people who don’t follow standards of morality as ‘slackers’. To the people below who can’t handle that I say, “Pfft!”

      • Here is your pfft back, what you have is an exaggerated sense of self and a negative view of others who have had far harder responsibilities than you. Have you ever heard of contracts? They are moral, too.

    • You should write a book about this wonderful story, let George help you title it, write it, release it on Amazon. Everyone should hear this story and understand it. It is as great as “The Richest Man in Babylon.” People need to see what is possible, how things were that made this not just a great nation, but a nation filled with people knowing they were destined for greatness. Thank you for sharing this with us; what a treat.

  2. “Our old Beechcraft is on the market and in a “normal world” we would be able to sell it for about what we have into it: $20,000 (plus another $20,000 in maintenance, upgrades etc.).”

    My wife’s Sister had the same problem with their plane…. the solution.. they gave it to their son that couldn’t afford to buy one..

    Have you ever had one of those moments when you figure your pretty sure your not a box of rocks.. then have someone come along and start talking about an issue they have.. and it dawns on you.. my god.. I was an idiot..
    I had one of those.. we were sitting out on the patio.. the daughter comes up and started to discuss the grandchild getting a couple of scholarships to attend college but that she would have to get a school loan for part of it.. and that the daily interest rate would be..
    it dawned on me at that very moment.. years ago I took out a small loan.. the interest was at 8 percent from a family member.. yet it seemed like I wasn’t ever making headway on it.. I would look at the books and yes it was eight percent.. it just didn’t add up..
    what I didn’t figure is daily interest so the interest that he was calculating was eight percent.. but monthly so I was paying 96 percent a year LOL LOL LOL LOL LOL that was my you idiot moment.. the same thing is happening to the kids.. the bush administration recalculated school loans to discourage the average american middle class kids from gaining an education keeping the vast majority ignorant and dependent.All the while the world pushed forward leaving us in the dust..

    • What gets me is if a student wants to consolidate their loans they have to do it at a weighted average. Student debtors can’t float down to the real market rate. Senator Warren is correct, federal student loans shouldn’t be a profit center for .gov.

    • Yes definitely cash is better if you can get in a family member member’s to put in $10 here $10 there and friends and Community you can put that person through what they need to go through but most of that stuff they’re going to go through this malarkey and faults so finding the right thing to learn is the biggest step and I think the biggest step is to learn from their grandparents

  3. And David said, “The LORD who delivered me from the paw of the lion and from the paw of the bear, He will deliver me from the hand of this Philistine.”

  4. Both Trump and Clinton reminds me of when JFK was president and he brokered a deal between big steel and the steelworkers union,not long after as he was about to give a speech he was handed a note big steel were raising their prices,so Bobby as AG went after big steel, no government contracts and he nailed them for price fixing well big steel finally gave in but the C.E.O of U.S. Steel told Bobby he was a ‘traitor to his class’ and trust me neither Trump nor Clinton will ever be a traitor to their class regardless of their rhetoric.!!!

  5. The wife was privy to information this week when she and her boss asked during a conference call about plans to move their bank branch. They were told they are not moving and that the branch was closing. They were told to not share the info. Interesting point is that information is being distributed to everyone else that is blatantly a lie. She is upset and who can blame her.

    The very next day she receives a letter from the banks retirement administrators telling the employees their retiree medical plan is being frozen effective Jan 1 and if you are under 55, Sorry Charlie. You don’t get anything. Over 55 you will but want to bet that’s a lie too.

    She is working on her resume. She may have a job responsibility reason to keep her mouth shut but I sure as hell don’t.

    • I’m sure republicans would be cool with a democratic candidate for president who had a foreign born wife with a heavy Eastern European accent who posed nude with other women.

    • Role model!!!

      You better the Hell be pulling my leg . . . while actual modeling is appealing to a subset of women, what Trump’s third wife was doing was hardly appropriate for a First Lady.

      And yes, I am most definitely ‘hidebound’ about certain matters. (And George – Bill will have to answer for his own ‘problems’ – as far as I know he wasn’t posing nude . . . and Hillary promoting it like Donald!)

      • May be a fine point – impeached but not convicted – and if he were running for president . . . but his wife is, not him.

        And yes, we have two bad candidates for president; at least Hillary Clinton knows the whys and wherefores of government – Donald Trump doesn’t!

      • Bill posed nude many times in front of many women, if they complained, Hillary beat them back.

    • Yeah, we already saw them, the Demoncraps made sure we got the first peek months ago! SO WHAT AND WHO CARES, LOOK HOW MUCH MONEY HUGH HEFNER HAS MADE IN HIS LIFE TIME? I just want to know why someone hasn’t released a full erect frontal on Bill Clinton!

  6. Question the Facts: The U.S. economy as viewed through the DJIA says all is well here.

    URE Truth: Peoplenomics says blowoff top to come.

    Is it possible market investors will ignore a DJIA chart 2011/2016 showing a 100% {9000/18000} increase in the DOW? Ignoring GDP for the period.

    That isn’t “Kick the Can”, “Maximize Returns”, “Only game in Town”. It is {___________} you fill in the blank: I am speechless. I fear the future.

    Thank you Mr. Ure

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