Summer 2009 is going to be hot. June many of the first wave unemployed will run out on their unemployment benefits. What do you think will happen to retail sales and credit card defaults. Every month after June another group of unemployed benefits will run out. Talking about people losing it after they lose everything!!! Summer of 2009 will have riots we never seen since 1967 and 1968. Joblessness and higher local taxes will be the primer, stupid act by a local cop will be match that lites the fire.
I hadn’t even though about the unemployment bennfits running out. YIKES this could all get ugly really fast. I am a stay a home wife and Dh is still working. We just found out lst week that if his factory does go down with cap and trade they will retire him like he was 62 (he’s 51) since he has over 30 years in so he would get early retirement benefits but that is only a fraction of what he makes.Luckily outside of the other house we own that is really our only debt. I would hope that if push comes to shove we’d be able to still sell it for what we owe on it. If worse came to worst we could rent it even though I really don’twant to do that.
Later we will find out that Chris Dodd slipped in a few bonus's for his buddies at Fannie & Freddie, Murtha will build a 2nd airport in his district and there are 8,782 other earmarks in the bill. The NY Times will run a page 12 story about it for one day and then it will be old news.
What's the difference between $1T or $3T, it is all just funny money anyway. They will do it after the July 4th Tea Parties where of course they will trash those folks as nut cases.
The worse thing is that it will help the economy, at least for a few months and everyone of the left will be crowing about what genius's Obambi and Nancy/Harry are. Of course in a year it will all be back to business as unusual and nothing will have changed.
schu