Posted on 01/04/2009 3:26:57 PM PST by Clive
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Our Congress is spending us into third-world status and my vote has been rendered meaningless.
0bama and his policies will make the depression of the ‘30s seem like “The Lesser Depression”.
Huh?
This editorial is one of the oddest pieces I’ve ever read. First it asks if we’re “heading” into a Depression, then uses a current data comparison to the last Depression.
It’s like asking, “Will the boy grow into a man?” And then answer, “No, because the child is much too small.”
Ditto...
It would take a miracle of economic prudence to prevent it, and, as I believe in miracles, I remain open to the possibility. But I have no reason to bet on anything, so far apart from the utter mismanagment of the current perilous predicament by the powers-elect.
>> “True, unemployment in the United States is ticking up, approaching 7%, and some economists think the figure might crest at 8%. For the millions of people this affects, that’s bad news — but it’s hardly comparable to the Great Depression of the 1930s, when more than 25% were unemployed, over 50% in some regions. If 8% unemployment is considered a Great Depression, then Canada has been in a Great Depression for most of the last 30 years.”
To get a better understanding of the great “depression”, the figures dwarf the chicken-little mentality of today’s society. Betcha the word “recession” or “depression” will disappear once Big Ears gets into office.
You've got that right. I expect the Obamedia to start telling us what a bombing economy we have starting on 01-21-09. Look for rainbows, teddy bears, butterflies and unicorns.
Wasn't WWI called "The Great War" for a few decades?
With one crucial difference: After WWI, Germany, a country that had embraced socialism and was rampant with hyperinflation, elected a radical who led them to ultimate ruin, whereas we in in America.....um never mind.
Most business people I have talked with are very concerned about the next 2 - 4 years.
Inflation. Taxes. What will the Jan 1 rise in the Missouri minimum wage do to small business since it does nothing to increase productivity?
Energy costs? I would be afraid to invest in utilities like new coal fired power plants. A widening scale of the Israeli ass kicking of their problem neighbors could make oil shieks mad and they might shut down oil production.
While we hope things will not collapse, most small businesses are gearing for the worst. Same for individuals.
Fear and uncertainty are running the course of economics.
People have lost confidence in our government because they continuously reward failure and brush off corruption.
Frankly, it is pretty much out of our hands. For Obama, capitalist economics are definitely above his pay grade.
Ahem, Erza. Look at this chart of unemployment during the Great Depression:
Notice that unemployment in late 1929 and early 1930 wasn't too bad. Unemployment didn't peak until 1934, and didn't fall below double digits until 1941, the start of World War II for the United States.
To make a historical comparison, we are currently in January of 1930.
We will only be in a depression as long as it takes the Chinese or Muzzies to take us over.
Can you really use stats comparing unemployment in the 1930s to that of today. The economies are totally different and tracking methods are vastly superior today.
So our industrial production in the only output for our economy?
Seems some people revel in misery and want the bottom to fall out.
As long as we keep printing money, giving it away, sending out stimulus checks and spending the money on services and products from China and Japan, we will remain in an economic crisis.
Few may have noticed, but we hardly make ANYTHING here.
Try finding and buying a gold .10 oz coin. IF you can find one the price has gone up about $20 in the last month.
My guess is that by 2011 gold will be nearly $2,000 an ounce. And this is if you are allowed to own it any longer.
“Few may have noticed, but we hardly make ANYTHING here.”
Actually I read a story a couple days ago that manufacturing has increased recently. The US still manufactures a lot of stuff. Not enough though.
Spending is out of control and has been for 20 years. Its not going to get any better but the tax increases should stabilize the problem. :/
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