Posted on 07/19/2010 10:07:38 AM PDT by afraidfortherepublic
If you listen to the lies spewing forth from the lips of the Obama Administration, the US economy is improving, millions of jobs are being “saved or created” and we’re well on our way to a strong recovery. But, the volatility of the numbers that Obama and economists in his pocket use to try and convince us that our financial situation is improving tell an entirely different story.
Ex-Clinton Democrat and co-Chair of Obama’s so-called debt commission Erskine Bowles recently warned that our nation’s debt is a fiscal cancer that threatens to devour the nation from within, if left unchecked. The warnings from the committee he tasked with solving our economic dysfunction couldn’t be any clearer.
In spite of this dire prediction, have Obama and Congressional Progressives begun to tighten the purse strings? To the contrary. Aided by Republicans like Scott Brown, they’re spending like never before and show no signs of slowing down. In fact, from June 29 to June 30, 2010 in one 24-hour period alone, the US national debt ballooned $166 billion dollars.
Consumer confidence is sinking as fast, Indications of a double-dip recession, Depression The indications of a double-dip recession and perhaps even another depression are beginning to materialize. Consumer confidence is sinking as fast as Obama’s approval rating and at its lowest level in a year. People are just too scared to use their purchasing power on anything but the necessities. While productivity may be up, businesses are now doing more with less. There’s far too much uncertainty to hire new employees.Corporations are hoarding their cash like never before, withholding nearly a trillion dollars from the economy out of fear. More at link...
(Excerpt) Read more at canadafreepress.com ...
Change we can all believe in. But note: If the Republicans take the House and (maybe) the Senate they had better take on the agressive tone of a hungry pit bull! The danger is, if they are all nice and “bipartisan” then Obama will deflect all the voter anger onto them and win re-election.
Here is some excellent perspective on this:
http://www.chrismartenson.com/
Obama’s Economic Time-Bomb Set to Explode in 2011
__________________________________________
This does not pass the smell test. No sir.
There’s still 5 and 1/2 months left in this year.
I say: Obama’s Economic Time-Bomb Set to Explode in 2010.
Republicans make huge gains in Fall 2010 elections.
US economy tanks in 2011.
Republicans dither and do little (as usual).
Obama claims that we were on track, but the people elected in 2010 are the problem.
Obama and Dems re-take power in 2012.
Why would you want that to happen? Are you anxious for Armegeddon?
Defund the left. Immediately. Cancel the newspaper. Don’t go to a movie.
Anything that isn’t explicitely conservative in the media. Turn it off.
Seriously. Kill them when they are weak. Which is now. Let them ponder the Democratic Congress’ misdeeds from the unemployment line.
Absolutely. And we should insist that they take steps to repeal, or highly modigy, Obamacare first thing.
“if they are all nice and “bipartisan” then Obama will deflect all the voter anger onto them and win re-election.”
I’ve never understood how you could be “bipartisan” with the Devil.
Already done that. They didn't notice.
Unfortunately, given the past behavior of the Republican Party this is a prediction that most likely will come true.
I thought that was standard usage.
I believe you are right.
If repubs win the mid terms, and things still go south economically, then Obama will coast to a re-election blaimg the GOP for all his troubles.
Just as he still blames Bush today.
Sorry. I misunderstood, and I didn’t see a “sarcasm tag”. ;)
This is why I think we are being set up with all of this supposed defeatist rancor amongst the Dems. Then they send Plugs Biden out to make it look like they have real confidence... It’s all a game. A very dangerous game.
I even understood what you meant, imagine that
If you look at the video I linked in my previous post, One point the author makes is that our whole system DEPENDS and ever increasing debt creation, and if it ever stops, reverses or even SLOWS DOWN our current system of banking will utterly collapse.
The implications are that we will have possibly significant deflation as debt contracts before we end up with Zimbabwe style inflation.
We could actually see the price o gold go down in the near future, followed by hitting $3000 $7000 an ounce territory.
I don’t think they can hold the collapse off until 2011, though they are trying as hard as they can.
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