We survived 1929 and 1987. True.
But today the dollar is worth nothing, the Fed is stuck between a rock and a hard place. They can’t spend their way out of this. Credit is already overextended and you have oil and food prices skyrocketing while housing appears to be headed for a depression.
Solutions: Get out of Iraq Now. I am sorry to say it but we no longer have the money to spend over there. Let the cards fall where they do.
Then stop spending on Illegal Immigrants and welfare for those who can work.
Take all that money and create tax breaks for businesses and working people. Especially to stimulate the manufacturing sector.
And start offshore drilling.
Sorry, but that is what it has come down to.
We are in big trouble as a country. Headed for BK if we don’t take drastic measures.
Sorry, the Lawyer Full Employment Act, won’t allow that for a couple of decades, at least.
I can agree with all you say except getting out of Iraq now. It only would make the money we have spent for nothing and would just cost us much more later.
We are winning and we will win. It has been just 5 years. It took much longer in Germany and Japan to get things right.
Gllom and doom isn’t the answer.
Getting serious about the oil prices is the number one issue right now. Stop the outrageous manipulation by speculators and the oil will be down to $75/barrel in 30 days.
The Iraq was isn’t even on the media and political radar screens, because we are winning.
You left out the British headline that the North polar ice cap is melted and there is no ice now.
The only card that will fall is giving Iran control of Iraqi oil and more control over oil prices. We are in a proxy war with Iran. It will most likely turn into a direct war with Iran a few years later if we let them take control.
We should TAKE the oil and not give a damn what anybody thinks. If our allies want a piece of it, that's ok. Anything to keep it out of Iran and OPEC.
So are you going to put your money where your mouth is and short the market?
Solutions: Get out of Iraq Now. I am sorry to say it but we no longer have the money to spend over there. Let the cards fall where they do.
Have you really thought about what that would mean? Let the cards fall where they do? You think we’re spending a lot there now? Hah! The costs- in dollars alone- resulting from your strategy would be higher than you can apparently imagine.
True indeed.
But today the dollar is worth nothing,
False.
the Fed is stuck between a rock and a hard place.
False.
They can’t spend their way out of this.
What is "this"? Chicken Littles are usually very vague in their claims - but you are setting new records.
Credit is already overextended
Again, too vague to be a meaningful statement.
and you have oil and food prices skyrocketing
Dramatically stated. However, there are structural reasons for both phenomena, and these causes are non sustainable over the long term.
while housing appears to be headed for a depression.
A sloppy use of language. A sector cannot be in a "depression."
Solutions: Get out of Iraq Now.
I see. The incremental $70B or so we spend in Iraq is the cause of and solution to all of life's problems.
But the 1.7 trillion we spend on entitlement programs isn't a problem at all.
I am sorry to say it but we no longer have the money to spend over there.
But we do have the money to spend on billions of dollars of Medicare fraud. That's an investment, apparently.
Let the cards fall where they do.
How cavalier. If terrorists, emboldened by your cut-and-run lily-liveredness, launch another 9/11-scale attack on the USA, or even a worse one, it will erase far more than $70B in value from our economy.
Pennywise, pound foolish.
Then stop spending on Illegal Immigrants and welfare for those who can work.
How much do we spend per year on illegal immigrants? Give us an approximate figure. And how much do we spend on welfare for those who can work? Any idea?
Take all that money and create tax breaks for businesses and working people.
Running from Iraq like scared little girls might enable the government to institute a 0.75-1.00% tax break - a marginal benefit that will not resucitate the economy and which would be erased completely on the first day of any 9/11-level event.
But would the Democrat caucus engineering such an act of cowardice really pass a concomitant tax break? of course not.
Especially to stimulate the manufacturing sector.
How would one target a "tax break" to specifically "stimulate" manufacturing? We're talking about corporate welfare here.
And start offshore drilling.
While offshore drilling would be a positive development, it wouldn't affect oil prices.
US refineries, which last year were strained to overcapacity are now only at 87% capacity.
However, this is not for lack of supply of crude - it isn't US demand that is driving the price of oil up.
Sorry, but that is what it has come down to.
Sorry, but you haven't thought any of this through.
We are in big trouble as a country.
Really? The US is about to cease to exist? Our only hope is to surrender to our enemies?
There is a time when Americans were made of sterner mental stuff. America is fine, we've endured far worse with fewer resources.
Headed for BK if we don’t take drastic measures.
Alarmists love drastic measures. What is BK? And why should we tremble before it?