Posted on 06/10/2009 2:52:05 PM PDT by pleikumud
CEO Lloyd Blankfein said on Wednesday he believed a current upturn in world markets was probably not a full recovery from crisis and said he expected a further long recession. "I think it's going to be a long proctracted recession," he told an international regulators conference in Tel Aviv. Addressing a current upturn in markets, he said: "There is no reason to think this is it ... So many things have to be sorted out. Why would this be the recovery? "The chances are it's not."
(Excerpt) Read more at cnbc.com ...
Together, the above actions will kill millions of businesses and millions of jobs. The unemployment rate will rise to 15-20% and that will be a depression, not a recession. We will have hyper-inflation caused by the trillions upon trillions in new national debt (money being printed). Interest rates will rise significantly, GDP will be negative, and tax revenues will therefore decline even though rates will be higher.
Obama and Congress are on a course to destroy our economy and freedom.
Everyone should write to his congressmorons and hold them accountable for the destruction of our country.
So what else is new?
It's not like Americans one day decided to take this course. Decades upon decades of both Democrats and Republicans, ensconced in all branches and levels of government, have guided the U.S. to where it stands today, simply by disregarding the warnings of the Founders.
Well which is it - depression or hyper-inflation...?
Ummm...why would anyone think it was? The DOW is at 8700 The high last year was over 14,000.
We have seen some lifting of the markets. That's good, and expect it to cautiously continue. The reason investors are taking heart - despite Oshama's "approval" ratings, his pet programs are in peril.
Cap and trade is on the ropes. If socialized medicine also gets trashed look out. DOW will get close to 10,000.
Stagflation.
It’s coming.
Don’t underestimate the power of 0 to force bad policies on us. He is the first president the US has had who wants to destroy America. His damage will exceed all of the damage all of the presidents before him have inflicted upon this country. Count on it. His Marxist friends are.
interesting how goldman sachs got their money out of aig.
Well which is it - depression or hyper-inflation...?
.........................
We could have both. 20% unemployed and $15 for a loaf of bread.
Prepare:
Guns and Ammo - Ammo and Guns
“This year will go down in history. For the first time, a civilized nation has full gun registration. Our streets will be safer, our police more efficient, and the world will follow our lead into the future!” - Adolf Hitler
All totalitarian, socialist governments have taken guns away from their citizens so they could not defend themselves. That’s why our Founders included the 2nd Amendment in the Bill of Rights: “The right of the PEOPLE to keep and bear arms shall not be infringed.”
Obama would like to copy Hitler.
Not only are we going to have hyperinflation, we will have high energy/gasoline prices and possibly gas rationing. This will be due to government not allowing drilling domestically (IE cancelling current drilling contracts and not allowing new ones). Also, Israel WILL attack Iran sometime soon, and Iran will react.
I think we should attack Iran ASAP. But we (and the rest of the world) are waiting for Israel to lead the way. We are afraid to act.
Food for thought.
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