I am so pissed with CNBC - ENOUGH
Dec 5th 2008, 6:28 am
#1
I love Marmite, she don't
Thread Starter
Joined: Jan 2005
Posts: 454
I am so pissed with CNBC - ENOUGH
CNBC publishing stories that carry no merit.
Huge Job Losses Could Be Signal That Worst Is Over - http://www.cnbc.com/id/28069440
PLEASE - give me a break. A lot of companies are holding back until after Christmas. Job cuts are many more to come and worst, there are no jobs for
them to come back to - read - ONLINE buying.. Global Econonmy crash.. No one has any money. More job losses.. Bloody obvious.
And then, on the same home page..
Pros Say: Oil Price Plunge = Huge Tax Cut http://www.cnbc.com/id/28070245
FFS - where do they get off. This is a joke story Kudlow has been pushing to talk the markets up. The truth is, it happenend like this..
1. We (consumers were spending way way too much)
2. Luckily we could borrow our way out of it. Whoopeee. All is great.
3. Gas went up from $1.50 to $4.50 in 18 months (we are all worse off by $2000 a year (tops)
4. We kept borrowing. We couldn't afford it but banks would lend to anyone for anything
5. The financial collapse occurred
6. Oil prices fell
7. Everything we owned (equities, property, 401K) is down 30,40 and 50%
8. Banks stopped lending
9. We now have to pay it all back and even 4% interest is expensive (assuming we have a job)
10. Everything we own (assets) is 60% of our total liabilities
11. We can't borrow even if banks lend because we need 90% assets!
12 and these people think the extra $2000 a year we spent in 2007/2008 is going to equal a HUGE tax cut
I am NOT an accountant but I am PRACTICAL and I am fed up with Kudlow blowing smoke..
End Rant
Huge Job Losses Could Be Signal That Worst Is Over - http://www.cnbc.com/id/28069440
PLEASE - give me a break. A lot of companies are holding back until after Christmas. Job cuts are many more to come and worst, there are no jobs for
them to come back to - read - ONLINE buying.. Global Econonmy crash.. No one has any money. More job losses.. Bloody obvious.
And then, on the same home page..
Pros Say: Oil Price Plunge = Huge Tax Cut http://www.cnbc.com/id/28070245
FFS - where do they get off. This is a joke story Kudlow has been pushing to talk the markets up. The truth is, it happenend like this..
1. We (consumers were spending way way too much)
2. Luckily we could borrow our way out of it. Whoopeee. All is great.
3. Gas went up from $1.50 to $4.50 in 18 months (we are all worse off by $2000 a year (tops)
4. We kept borrowing. We couldn't afford it but banks would lend to anyone for anything
5. The financial collapse occurred
6. Oil prices fell
7. Everything we owned (equities, property, 401K) is down 30,40 and 50%
8. Banks stopped lending
9. We now have to pay it all back and even 4% interest is expensive (assuming we have a job)
10. Everything we own (assets) is 60% of our total liabilities
11. We can't borrow even if banks lend because we need 90% assets!
12 and these people think the extra $2000 a year we spent in 2007/2008 is going to equal a HUGE tax cut
I am NOT an accountant but I am PRACTICAL and I am fed up with Kudlow blowing smoke..
End Rant
