Wednesday, May 11, 2011

I'm back!

Hi everyone. I am sorry I haven't posted anything this past 10 days as I was back east and was busy with family. I will resume my posting on a more regular basis. Thanks for your visit.

This morning CNBC had the head of VISA on their show talking about their new Digital Wallet which will make charging easier and the use of the actual Credit Card to fade over time in favor of the digital phone embedded chips or software. However, that was not what caught the most of my attention. When Mark Haines asked him his view on the Consumer and the economy he said, we are still in a slow recovery, with the emphasis on the word "slow". Then he elaborated on what he meant. He said that while the economy has not lost ground but it is barely advancing. So when you hear from Bernanke say we have "moderate" growth, substitute the words, "slow to non existent!" That was the most accurate pronouncement I have heard to date in describing this stagnation.

You can try and blame the President but if you miss blaming the Republicans, you have your head in the sand. They have tried to stop this President at every turn. They want to cut spending drastically, but not invest in anything that would create real stimulus and jobs. That's the jam we are currently in. Heck, many didn't even give any praise to our President for getting Bin Laden. But enough on that for now. It's good to be back!

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