Posted on 05/14/2015 6:15:18 AM PDT by Freedom56v2
Geez, who woulda thunk that after spending money that you did not have to begin with and creating a climate in which public servant unions now resemble something out of “On the Waterfront”, that something like that could very easily happen?
When Stephen King is the chief economist, you know you’re in trouble!
There are reasons why this may be true.
During the worst recession in my lifetime, Obama decided to impose the largest tax hike in American history (Obamacare). He also pushed very unwise spending practices (rewarding unions, green energy etc., increase in public debt).
Much of the blame should reside in the White House.
Ha! That’s exactly what I was thinking.
This White House, and the last one too, sadly......
Yes.
> In a note to clients Wednesday, he warns: “The world economy is like an ocean liner without lifeboats. If another recession hits, it could be a truly titanic struggle for policymakers.”
“If” another recession hits? We ARE in a recession right now! Brought on by The King
Now that's funny right there.
Sadly, I wish it was novelist Stephen King—then the story would be fiction....
Gee. Why wouldn’t an economy built on immense borrowing and dollar printing accumulates unsustainable debt and unfunded liabilities, and is led by an Administration that publishes restrictive anti business fiats daily, runs an anti carbon energy crusade and abhors productive capitalism not have a rosy future?
This is the sad, and still pertinent as people still blame Bush for this economy. And Bush is to blame - but for the liberal things he went along with, not anything conservative that he promoted (his tax cuts). And the irony? Then nation has voted even MORE leftward.
Harry Dent—love him or hate him!—warned that the period from 2016 to 2018 is at risk of a general world war. It will take a lot of cooler heads prevailing to prevent that from coming to pass.
We never left the previous one, falsified numbers are a piss poor substitute for a recovery!
Golly, another horror story from Stephen King.
In its shortsighted effort to avoid some financial pain to normalize the economy, the Fed’s prolonged manipulation and levitation may instead contribute to a long term economic calamity.
Re the public debt, if interest rates do rise the cost of our debt service could easily double from the artificially low rates imposed by the Fed. That could be a real problem when combined with our already massive level of unfunded liabilities (a ‘mere’ $96 TRILLION).
Yep, they’re cookin’ the books big time.
+1
Good post.
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