Wag The Dog

Wag the Dog was a movie about a war in Albania created by the media that never existed.

The facts are not being presented correctly by the media and the public is grossly misinformed about the current environment. Barkly sees this daily. CNBC declared the housing crisis over this morning OMG.

1) Tax receipts will again come in substantially above expectations all across America local and federal numbers will show an ever decreasing deficit. In fact if tax collection alone was improved there would be no deficit.. and no Katrina or war in Iraq we would have a surplus. The current deficit as a percent of GDP is at a 30 year low.
2) Non performing loans at banks are at a 30 year low.
3) The country is at full employment.
4) Gas prices are coming down.
5) Home mortgages are coming down...non-performing mortgages are at a 30 year low as well...1/2 of all homes have no mortgage at all...the government borrows at under 5% for 30 year paper.
6) In terms of the "housing crisis" this is not 1990 when people were stealing from the S&L's to develop spec property....there are buyers jumping up and down right now to buy at the right price.
7) There is some $5 to $6 trillion in cash on the sidelines that will start to chase the stock market..but not till it reaches new highs.
8) Assets in the USA are growing 5 times faster than the liabilities everyone focuses on!

People need to relax and enjoy the prosperity we enjoy....the rest of the world remains in awe!

Barkly seen here with a favorite family member who too loves dogs...talking about the 2006 E Scow Nationals sail boat race on his favorite lake.