Bear Wisdom

GDP
Should we be surprised that the revised numbers were WAY higher than the advanced numbers?  6.2% versus the initially reported advanced numbers of 3.8% means that this was the worst GDP showing in nearly 27 years, since 1982!  Will the 2nd quarter be any better? And will Obama’s stimulus payments make a dent [...]

Confidence in the government is GONE.
GM and Chrysler are asking for Billions more in order to stay afloat.
 AIG is claiming that it is going to post the BIGGEST LOSS in US history next week, $60 Billion dollars!
Every stimulus or bailout plan by the Obama administration has been met with severe selloffs… 
Will the [...]

California TAX HIKES
Here is a brief summary of how the tax increases affect Californians. 
Senator Abel Maldonado (R) sold his party out, and voted for the California budget which consisted of big tax increases, spending cuts, and more borrowing.
Annual license fee:  From .65% to 1.15% of the market value.
Personal income taxes [...]

Source = CNBC
The new plan seems more like it is trying to prop up Zombie home owners, just like the government is attempting to prop up Zombie banks.  Here’s the quick rundown.  Maybe this plan will work as well as the “Hope for Homeowners” plan. 
Refinancing homeowners (4-5 Million):
-          For “responsible” homeowners who [...]

JOBS
2/6/09 – In January of 09 we’ve lost 598,000 jobs but that number is probably higher than 600,000 considering how the government always massages the initial numbers.  For example December 08 number increased from 527,000 to 577,000, and November 08 numbers increased to 597,000 from 584,000.  So there was an increase of 63,000 [...]

2,600,000 million Jobs lost in 2008, and in 2009, there has already been announcements to cut another 200,000 jobs from companies in every industry, including Boeing, Starbucks, Microsoft, GM, Warner Brother, LA Times, Caterpillar, Disney, Circuit City, LA Unified, Seagate, Motorola, and many more. 
Meanwhile the BANKS that received taxpayer bailouts wanted to [...]