America is in shambles from sea to shining sea. Unemployment is at Great Depression levels. Real Estate is collapsing. The stock market is crumbling. Retail sales are vanishing. Consumer confidence is plummeting. Inflation is skyrocketing (on the products that matter- energy and food prices). And of course, our U.S. Triple A credit rating is gone for the first time in history.
America is staring at economic disaster- Obamageddon. We are the Titanic, headed straight for the iceberg. Even delusional 500 point up days on Wall Street will not change the frightening long term picture. The iceberg is straight ahead.
Obama and his socialist cabal have channeled Hoover and FDR, who turned an ordinary bust into The Great Depression with a toxic strategy of more government, more spending, more debt, more entitlements, more rules and regulations strangling business, higher minimum wages, more power to unions, higher taxes, more printing of money by Fed, and trade tariffs. This is the Obama blueprint squared.
Here’s where the story gets downright frightening. This time the results are going to be dramatically worse than 1929. This time we are facing The Greatest Depression ever.
Why? Because The Great Depression had NONE of problems and obligations we are now facing. (more)
4 comments (read or post your own):
Socialist cabal? What world do these people live in? The economy is dying because it can't not. Everything about the way it functions, regardless of regulation, or government regulation is entirely unsustainable. It is designed so that it must grow to function, but this is obviously madness, considering that we live on a finite planet. We cannot continue to grow and still have a planetary life support system. The industrial economy is killing it at every level, chopping down all the forests, catching all the fish, polluting the air and water, all so it can produce consumer products that must be consumed or it all comes crashing down. But people can't constantly buy and consume it if their wages are stagnant and the companies that they gain wages from are constantly slashing off staff in order to increase profits for the executive class. The whole system basically can't not crash, and these idiots really need to figure that out.
I meant government intervention in the second sentence.
@3:11 Anonymous
Fantastic comment.
FDR turned an ordinary "bust" into the Great Depression? Bad history.
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