Posted on 10/18/2009 7:10:47 AM PDT by blam
The Greatest Depression Is Coming
by: Mac Slavo October 17, 2009
Mac Slavo
Good times will not be returning any time soon.
We continue to lose jobs month over month. And, while the statistics being released are showing a slow down, this is basically a fabrication. There are thousands of people falling off of unemployment compensation each week — none of them are reflected in the official numbers. Shadowstats.com estimates unemployment is above 20%. Take it for what you will, but these numbers are rapidly approaching the unemployment rate during the last well known depression.
Credit is contracting. The last decade in America has seen credit, or debt, however you want to look at it, essentially become a second income. No more. The banks may be getting billions in loans, but for the individual on the street, credit is frozen. Couple this with the loss of primary income streams and you have a lot of people with no money for even essential goods.
Foreclosures continue to mount. In addition to the foreclosures of the last 2 years, we have millions more in play right now, regardless of the mortgage programs the government institutes. Job Loss + Credit Contraction means there is no way millions of people will be able to make their monthly payments. Nowadays, once you lose your job, you aren’t going to have an easy time finding a new one that adequately services personal debt. In real terms housing prices are not done dropping. There are some conservative down-side estimates that say an additional 15% is likely. But, what if they are underestimating? What if it turns out to be 30%, or more? If we are in a depression, the downside is huge. Japanese real estate lost 80% (adjusted for inflation) in the 1990’s (and so did their stock market!). In some parts of the country, home owners would probably agree that the 45% their homes have already lost would constitute a depression.
[snip]
Grrrrrrrrrrrrrrr.
Tell them that this is the price we're paying for their thinking that we had the wrong guy in the White House for eight years.
Good times will begin to return the day Obama, the Marxist, is removed from office.
This is the price we pay for having a zero with a socialist agenda in office.
And the media will report how ironic it is that Obama is removed from office "just as his policies begin to bear fruit", as evidenced by the suddenly improving economy.
Thanks Bill
Not to mention, they’re doing nothing to correct the underlying problems. Oh, they’re doing things alright, but every single one is the wrong thing to be doing, and they’re doing them with borrowed money!
Even if what they’ve done manages to correct the immediate problem the bill will come due and that’s when the feces will be in the HVAC.
Which is why I'm holding back from buying. A simple explanation clipped from another website on the topic:
"If a buyer puts 10% down and the house goes down 10%, he has lost 100% of his money on paper. If he has to sell due to job loss or an interest rate hike, he's bankrupt in the real world."
Now that I must back every purchase up with cash it becomes so much harder to buy things like Macs, LCD TV's, guitars, etc. willy nilly.
Having saved some cash I don't like seeing it just disappear!
Here is your reply: 'There never has been a conservative government in the US since Coolidge. Not under Reagan, and certainly not under Bush. The few attempts Bush made to deal with structural problems met howling media and defection by moderates from within his own party, while the disaster we face now was foisted by the Democrats via their control of Fannie Mae and Freddie Mac.'
I don’t care what anybody says I love this guy.
Video
http://www.youtube.com/user/ATLAHWorldwide#p/u/10/QyCqzasawaM
Ofcourse it is. Why do you think the Dums are so hellbent on getting control of Americans life and death decisions
“Good times will begin to return the day Obama, the Marxist, is removed from office.”
....yep, and we can take an important first step in the 2010
elections by voting Republican.
...well we just need to raise taxes and legalize gay marriage.
That’ll fix the problem. :)
They are absolutely blinded by their own ignorance.
bump
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