Posted on 01/03/2009 7:15:36 AM PST by stylin_geek
in my opinion i think all this doom and gloom was hyped to get the annointed one elected and the media has made it worse and i think they will switch gears once bo gets in. most of the market is way oversold and it will get better. i hope
Ray, you are right on all this. Only problem is, I’m pretty convinced that these people don’t really want to ‘fix’ this country. There are so many anti-American elements in the ‘American left’ that will keep them from ever doing what’s actually good for the country. They’re still working on bringing it down.
well, just maybe we can pull off the not natural born obama and prevent him or throw him out of office.
“and bold leadership is set to take command”
The skinny little Kenyan kid is far from “bold”. He will pee his diapers when he finds out what the job the President actually has.
The depression started in 2000. We have been trying every artificial means to stave off the effects of it every since. Printing money will not solve the problem because it is not a currency issue, but a credit issue. For the next year, credit card debt will shoot to the front as the major crisis. If anyone is in debt, I fear for their financial survival, and wish them success in getting out of debt.
Why 2009 will be worse than 2008? Obama and congress!
Just implementing FairTax to replace the totally broken Federal income tax system would do HUGE wonders for both the manufacturing and finance sectors of the country. Because of NO income taxes on earning money, that means American companies can base their economic decisions on what is best for the company, NOT what is best in terms of lowering their income tax burden. This means it would actually be cheaper to keep corporate headquarter and manufacturing operations here in the USA, because the worry now is keeping communications and transportation costs down. All those idled and abandoned manufacturing facilities will suddenly come back to life just from the lower transportation cost factor now that the income tax factor is gone. As for personal finance, with no more worries on the income tax impact on savings and investment accounts, people will end up being far more likely to save and invest, breaking the debt treadmill cycle as consumers discover it's better to save up to purchase goods either in cash or with a far smaller loan because the consumer can now afford vastly bigger down payments (we could see most loans with at minimum 30% down payments). Since consumer loan sizes are smaller, that benefits finance companies because they now stand a far better chance to getting their money back because the loan repayment amounts will be way less burdensome for the consumer.
Your age (or lack of) is showing.
As someone who barely surivived that Last Great Ice Age of the 70’s I can assure you that the cartoon is a bit off.
I’ll gladly change ages with you though! The next 40 years look pretty exciting.
Fed is forced to do rapid rate increases, Zero will raise taxes on the top 5%,causing a huge downturn as the private sector refuses to invest, waiting for the next Congressional elections. The blue states will be facing bankruptcy, and be forced to layoff 20% of the employees, unemployment will skyrocket, they'll successfully pass a huge gov. health care bill and within 3 months people will be screaming at what a nightmare it is. Media will start daily hospital service denial misery stories, huge anger and unrest will set in as all the layoffs will be democrat state employees, and the whiners looking for free health are angry lib minorities.
2010 will be the explosion of a great depression, with the Bush tax cuts expiring, Dollar crashing, trillion dollar deficits every quarter. Zero will accelerate his attempts at a Marxist agenda, and people will begin to see what a worthless, angry racist communist he is, and that his agenda has done nothing for the economy.
Acorn will steal the congressional elections, sealing the depression. A few years later, SS goes negative, and the US will start defaulting on its obligations. Medicare goes bust shortly thereafter, leaving seniors without SS or healthcare. The deficit is unrecoverable at that point. Game over.
I'm actually an eternal optimist in life, but this story was written 15 years ago, it just takes time to play out.
Bush 41 never spent much time explaining fiscal responsibility to his son.
I know people who would think you're an optimist.
Pray indeed.
“Then 9/11 hit and that caused more damage but that could have been managed but no, we have to spend more money. Then, we have to go fight a war in Iraq that turned out to cost a bunch of money that was never budgeted for and now we have to bail out sectors of the economy.” You prove my point—the beginning was 2000. The patient died and the Doctors have been applying CPR ever since. You can blame Bush, but he had a lot of company, particularly those that are trying to push us into socialism...Now the dangerous thing is that we have a new messiah, and he will grease us up for new lows.
Huge government deficits, low interest rates and rapidly growing money supply all add to the likelihood of renewed inflation - and a rising gold price. How high? Very.
By Martin Hutchinson, breakingviews.com
Last Updated: 1:44PM GMT 02 Jan 2009
First, consider the risks of inflation. US money supply grew slowly for a while in early autumn, but in the two months to December 1 the St Louis Fed's measure of Money of Zero Maturity increased at an 11.7pc annual rate. That's a return to the trend that lasted from 1995 to 2008, when MZM grew 3.6 percentage points faster than nominal GDP.
The US is not alone. Around the world, governments have implemented large stimulus packages. If the corresponding borrowing is not to crowd out the private sector, it must be financed by money supply creation.
This monetary expansion is not supposed to be inflationary, since the governments promise to take any money away before it can push up prices.
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