I will vote for this [TARP II] and I will do it because of the assurances I got from the president-elect himself that it will be different, that he will use these funds judiciously," said Sen. Barbara Boxer, D-Calif.
"I felt a little bit like after the last one, like Charlie Brown and Lucy," said Sen. Tom Harkin, D-Iowa. "You know she's always pulling the football from under Charlie Brown. Well, Lucy's 's not holding that ball any more. We have someone new holding that ball. Somebody named Barack Obama.
I just "HOPE" that the rate of foreclosures goes down (we saw an 81% jump in 2008). If we can get the foreclosure rate down to 30%-40% in 2009 and avoid the "Pay Option Arm implosion" in 2010 and 2011 (when I say "AVOID" I mean only 25% default rate)then:
- writedowns will slow by second half of 2010
- confidence will return
-unemployment won't reach 20%
-America will ultimately survive (of course this new country won't be the same gluttonous "America" we've known for the past several decades...that's a good thing).
FYI I know I just made a lot of "Kudlow'esque" statements just now, however, Kudlow probably thinks that foreclosures in 2009 will only grow by 1%-5% in 2009 vs. 2008 (so cut me some slack, ok).
Listen!!! I know "HOPE" is a four letter word, but if you don't have "HOPE" for America in the long run (I am talking 10-15 years out) then go f**k yourself and move to France.
Position: long humanity, but still hate politicians and CNBC.
1 comment:
Haha I cannot STAND Kudlow! Great post man
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