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OGI Mortgage Bankers

Most Q1 earnings reports

Friday, April 22, 2011 - Article by: OGI Mortgage Bankers - Message

Most Q1 earnings reports are hitting better than expected, driving the equity markets higher but having little if any impact in the employment sector. No job growth, no improvement in the housing sector, $4.00+ gas prices, food prices increasing-- it doesn't matter as long as investors large and small see their net worth increase. The US approaching bankruptc with the political outlook less than favorable that a serious budget reduction plan will emerge--who cares? S&P loweing US debt to negative from stable has generally been pushed to the background and dismissed; the consensus among traders, investors, politicians, analysts and economists is still denial, the US will never lose its AAA credit rating. After all this is the strongest economy and nation in the world---or is it? Republicans don't want to icnrease taxes, Democrats don't want to cut spending; if both parties don't get close to being on the same page soon we will wake on day with interest rates much higher, the dollar (already falling hard) will not be the reserve currency of the world and the US will be a follower and not a leader. hard to imagine, but we are closer than most think and many won't admit outwardly.

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