Obama is a tool of Satan... I truly believe that.
Posted on 08/18/2011 8:38:19 AM PDT by JustAnotherOne
With the United States and European economies having slowed markedly according to the latest data, and with global growth continuing to disappoint, a reasonable question increasingly arises: Are we in another Great Depression?
The easy answer is "no" - the main features of the Great Depression have not yet manifested themselves and still seem unlikely. But it is increasingly likely that we will find ourselves in the midst of something nearly as traumatic, a long slump of the kind seen with some regularity in the 19th century, particularly if presidential election-year politics continue to head in a dangerous direction.
The Great Depression had three main characteristics, seen in the United States and most other countries that were severely affected. None of these have been part of our collective experience since 2007.....snip
But to accuse Mr. Bernanke of treason for worrying about deflation is worse than dangerous politics. It risks returning us to the long slump of the late 1870s.
(Excerpt) Read more at finance.yahoo.com ...
Nice that Obama gets to be on vacation while the markets crash one more time this month... He’s in liberal elite land where reality never ruins the ice cream or bike paths...
It already is a second great depression. This time the government acted to mitigate the impact. That it did not do it effectively, that much of it was corruption, is the reason why we have not seen more of a recovery.
Most of the stimulus money for many programs was merely a “keep funding the government” program with only small bits of each program doing any real good.
In 2008 the private sector economy shrank by 15%, yet the GDP was only down by 300 billion.
The government percentage of the GDP jumped from 35% to 43%.
The government stimulus spending was done to paint over the contraction of the private economy. We’ve continued the spending for 3 years now. I think this movie doesn’t end well.
If this is your opinion, get your head out of the sand. It is treason to be part of the communists conspiracy that King Obama has put us in. Deflation, hell, wake up.
“...If he stays in, the Dems won’t have power again for a very long time...”
From your keyboard to God’s ear, brother.
Not my opinion. It is the last line in the article. By the way, the person that wrote the article is Simon Johnson, the former chief economist at the International Monetary Fund, is the co-author of “13 Bankers.”
Take it up with him.
WE are already in a Great Depression worse than the one from the 1930’s.
We currently have 50 million people on food stamps. If the newspapers took photos of these 50 million people standing in lines at soup kitchens then just how bad things are now would be much more evident.
Also, in the 1930’s we could look forward someday to American industry and American factories hiring back all the unemployed in the next upswing in the business cycle. Today, none of those manufacturing jobs that the “Free Traders” sent to Mexico and to Communist China will be coming back. There will be no recovery, no jobs, as long as we continue with “Free Trade”. Those good jobs ain’t coming back.
Third, the United States was energy independent in the 1930’s and we relied very little on foreign trade. There was little federal debt. Most people did not pay a federal nor a state income tax. Property taxes were small. There was no 18% Social Security tax. State sales taxes were small or non-existant.
Forth, in the 1930’s we reduced immigration because of the shortage of jobs. Today, in spite of the shortage of jobs, we still continue to add 2 million more immigrant job seekers each and every year adding more and more to welfare costs and to the number of unemployed.
Lastly, in the 1930’s, most people I knew had no debt, no mortgage, no student loans, no credit cards, and we lived on farms and could feed themselves. Today, almost nobody lives on a farm, nobody can feed themselves, and nobody has no debt.
Dennis Kucinich made a proposal today to neuter the Fed.
Perhaps he is thinking of a third-party run and is making a play for the Ron Paul vote?
Obama is a tool of Satan... I truly believe that.
Sometimes I wonder if He listens to us at all anymore...
Watching the world burn down, families and fortunes ruined - people that have never done anything to anyone in their lives just getting ruined, Good men die, and the scum just keep on doing their best to be scum and getting away with it.
Gets to a fella after a while...just really gets to ya...
Soup lines 2011 - 45 million Food Stamp Applicants:
“nobody can feed themselves”
Sure we can: We’re the fattest nation ever.
Our recession started when we started to trade away our production economy for cheaper consumer goods. It will only get worse until this is reversed.
There are some 25+ million un/under employed. America needs to put them back to work earning money, paying taxes and buying things. We have to make more of what we import. If neither party can advocate this, it is time for a Third Party.
Doug Casey coined a term a while back. He said if the 1930’s was the Great Depression, then what’s coming up is the “Greater Depression”. Sounds like it fits to me.
Let me know when GDP growth goes negative.
I agree with most of what you've written. I am fairly certain, however, who will wear the label of winners and losers.
Unfortunately, there is such a large segment of our society that have no idea whatsoever how to survive a depression. For many, not being able to get to Burger King for supper is a major event in their lives.
The prosperity and comfort of our society has produced a monstrous segment that are weak and unable. I, for one, wished that the bounties enjoyed by Americans would teach them how to maintain quality and comfort of life in hard times.
The Founding Fathers would be so disappointed.
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