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.
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.
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.