The winner of the July contest, where we asked “Who runs the federal reserve: the banks or the government?” is random comment number 119. We had 173 responses, but only 163 eligible comments.
Congrats… Malik from Canada
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Don't forget to enter August's Contest, where we ask, "Do you think the recession is easing, or is there a downturn in sight?" Thanks for participating... keep it up cause we love to hear from you.
Best,
The MarketClub Team
I think that while the recession is slowly drawing to a close, real recovery will be a long time coming. Support of the financial system was probably necessary to avoid a depression but an additional stimulus to get the country back to work is needed.
On another note I miss the old music that used to introduce the Trader's blog... the new tune is OK but I really enjoyed the old one a lot more!
I can't find the winning comment on the federal reserve. Most folks don't have a clue. As for recession? We ain't seen nothing yet. I've seen factory after factory closing in my small corner of the planet. Meth, pot, and casinos seem to be the only thrving industries. Oh yeah, and some roads are being fixed, making millions for some and giving temporary relief to others while they break their backs and pay their taxes. Tea party anyone? I for one am sick and tired of supporting geriatric one time senators and representatives with full salary and 100 per cent medical and dental coverage. Who do they think they are??? Let them eat their own cooking and maybe we can get back to being the greatest country on earth.
Not really as yet. People do not have jobs and there are a lot of people whose E.I has lapsed and they still do not have jobs as such their survival is at stake. People do not have resources to pay mortgage of their dwelling units. When we go to Walmart or home depot or any other store we find only handful number of needy people whereas a year ago these stores used to be thronged with people. It is fine Big companies have cut down the cost, trimmed their strength of workers and as a result they are more competitive but what about the people who have lost their jobs? if people will not have money to buy the goods produced by these magnates, who will buy them. Think it over. TIM HORTONS, WENDY's, MnDonalds are empty these days, and when we see the manipulated results on the internet we are amazed about the figures. Recession is indeed deep rooted which will take time to get resolved. As the President of a country, or as a treasury secretary, one has to understand the problems that people are facing these days. Managements of big companies like GM, Lear, GE, Citigroup, AIG, Countrywide Financials, to name a few, have syphoned out the public money by paying big bonuses to themselves.What a shame?
in my opnion the end of the recession is now in sight. However recovery is another thing since what we have seen so far is the dampening effect on the feds monetary stimulus..so we bounce along at a very low economic growth rate and choppy markets.