Posted on 02/04/2010 9:50:11 AM PST by blam
20 Reasons Why The U.S. Economy Is Dying And Is Simply Not Going To Recover
Michael The Patriot Blogger
Feb. 4, 2010, 10:26 AM
Even though the U.S. financial system nearly experienced a total meltdown in late 2008, the truth is that most Americans simply have no idea what is happening to the U.S. economy. Most people seem to think that the nasty little recession that we have just been through is almost over and that we will be experiencing another time of economic growth and prosperity very shortly.
But this time around that is not the case. The reality is that we are being sucked into an economic black hole from which the U.S. economy will never fully recover.
The problem is debt. Collectively, the U.S. government, the state governments, corporate America and American consumers have accumulated the biggest mountain of debt in the history of the world. Our massive debt binge has financed our tremendous growth and prosperity over the last couple of decades, but now the day of reckoning is here.
And it is going to be painful.
[snip]
(Excerpt) Read more at businessinsider.com ...
Oh my god, so what your saying is, these bubbles happened because there were too many paper dollars chasing too few real assets because there weren’t enough real assets to spend them on? That’s the way it’s felt the last ten years or so.
Yeah, I wouldn’t bet on the timing of it, but it’s sure to come. So, why am I not buyng gold?
BTTT
Or maybe God is cursing our finances and saddling us with Marxist “leaders” because we keep slaughtering thousands of defenseless little children every day.
"The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
~~Ludwig Von Mises
Idiot politicians, only worried about buying votes for their next re-election, ALWAYS choose option two by default. ALWAYS.
If it were only that simple. I really wish it were.
So he saddles us with leaders who will make sure nothing interferes with the slaughter?
I actually think it is that simple. The pent up demand that will be released once we replace the socialist will produce a positive jump in the economy. Add in responsible government, and we should have quite a growth period. The main problem is the national debt. As bad as that will be, cutting government down to an affordable level should allow us to recover and pay off the bills from Obama/Pelosi’s spending spree.
With drastic cuts in federal spending, and with tax reform, the US economy could be back in strong shape in short order.”
You’re leaving out Obama is in office and how we got to this point.
The Dems didn’t do this by themselves.
Insert rueful chuckle here. You couldn't possibly be more wrong. Just because a thing can be treated as if it were another thing doesn't make it that other thing.
Now, naturally congress cannot fully bind its successors.
Congress can not bind any of its successor Congresses at all. What one Congress giveth, another can take away.
That was my wakeup call in late 2008 with Schiff. Both parties are just telling us what the focus group/poll says to tell us, and running the country in a way to get past that next re-election, no further. (in the case of president that is only one reelection.) Each side says the other is evil, stupid, etc. But both have contempt for the truth that comes from the Austrians, both tell us their Santa is the real one, and the others is the Grinch.
The real problem is deciding if its going to be deflation or inflation.
But if you look closely, how much of a John Deere tractor's parts are manufactured here?
How much of the US industrial output does the US government, and other governments getting US aid, buy?
It might buy us time and give us a breathing spell, but our future entitlement payments are simply NOT repayable in the real world.
I think we’ll see deflation and then inflation. They are the two sides of the same debased coin. Like an out of control vehicle oversteering for one side of the highway, then overcorrecting for the other. When the vehicle finally flips and rolls and crashes off the mountain, it won’t matter if it was the side of deflation or hyperinflation.
You got it. A hard road ahead, no matter who occupies the Casa Blanca.
I went to your link plus how about maing MM candies. Is that manufacturing? Toddster says it is included in our manufacturing statistics. We have a huge processed food industry such as making fish sticks and frozen pizzas. This is manufacturing?
Pray tell, what else would you call it?
Literally, manufacturing means "making stuff".
Frozen pizzas and structural steel use different raw materials and are sold to different markets. But both are manufacturing.
Gotta read the fine print very carefully for govt. propaganda, er, statistics.
State and Local Governments Are Dead Bankrupt
Notice the great photo of the California Governor -- LOL, LOL !
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