Posted on 03/09/2009 2:17:30 PM PDT by Lady GOP
HARRISBURG, Pa. – The nation is on the "brink of a depression," but there's a "reasonable chance" that the $787 billion economic stimulus package will help ease the situation, Sen. Arlen Specter said Monday.
Specter, R-Pa., said the nation's economic situation is more dire than the public has been told, but did not elaborate.
"Our economic problems are enormously serious — more serious than is publicly disclosed. And I think we're on the brink of a depression," he told reporters at the state Capitol.
(Excerpt) Read more at news.yahoo.com ...
Let them keep the money...just make them go away!
more serious than is publicly disclosed
more serious than is publicly disclosed
more serious than is publicly disclosed
more serious than is publicly disclosed
more serious than is publicly disclosed
time to start calling in the cards, favors, and crooks.
Had there been no stimulus, I think we'd have gone right off the edge,"
And we aren't off the edge? AIG? Banks? Bush's stimulus? Obama's giant stimulus? The 400 billion spending? The bank bailout in this multi trillion budget?
Insanity is doing the same thing over and over again and expecting different results.
Now hopefully I'll have enough money to invest in treasury bonds......
My jerk of a democrat congresscritter was just fined $6000 for campaign finance violations. This clown has been in office for all of two months. He won by 2%
The saddest part is that he replaced a real good man thanks to the traitors in the NRCC who abandoned him. Their senate counterparts sure helpes Specter though.
Great...now I'm getting riled up again.
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“Are you looking for a job?”
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I'm trying to decide whether I should put some money in oil. I don't trust gold prices right now.
Then disclose it!
Maybe 200 million brains working on the problem is better than six, you idiot!
I resent being kept in the dark.
Why is it government is the only entity with a real right to privacy?
I think we need to demand they disclose exactly what is going on. They are a bunch of incompetent boobs who are getting completely out of hand.
You are exactly right.
I don't trust them with my personal safety. Not one bit.
The price of gold is high but will only go higher when the dollar drops like a rock.
Hey when it gets bad really bad people will be willing to give up freedom for personal safety, cufews etc. They will welcome Communism.
IMHO, gold is WAAAaaaayyyy oversold, while platinum and especially silver haven’t had the dramatic price spikes gold has.
Platinum is probably a far greater inflation hedge than gold.
He’s trying to justify his malfescence by saying he screwed us, but he did it FOR us.
LSOS.
He could be right.
I find Senator Specter extremely depressing.
Will someone reel this guy in, get him psychiatric help—including a generous dose of electric shock therapy—and then let him sit in a rocker in an abandoned Pennsy mine shaft. Sheesh. Every time he opens his mouth garbage spews out.
Being in a depression requires 1/3 or better of the available American work force to be without jobs. We’re no where close to that. In fact, I see help wanted signs everywhere I go. Not to mention that our economy is apparently still good enough to employ 7-13 million illegals—depending on whose numbers you use. American travel spending went up by something like 2% over last year. I heard that report today. And, if you take the time to look at consumer oriented stocks, you’ll see that most of them are up. Translation, average Americans are still spending.
What we have here is a phony financial, lending and housing crisis created by demrat CEOs and Pols. Sadly, they’ve been aided and abetted by Bush and his RINO crowd. The dems are using the phony crises to advance their socialist agenda. Once again aided and abetted by RINOs.
In short, the pols are deliberately preventing the Market from working so as to get people to thinking the Market is no longer relevant.
And what do we all do, we sit around writing posts to one another about how terrible everything is. We should be out in the streets creating some meaningful civil disobedience.
You know, when I hear economists like Denniger talk about the “bezzle”, well, the “bezzle” is something that our government is in on. Why would anyone expect them to fix what they participate in and enable?
I think Specter is on the brink of senility and needs to be put in a home and given two enemas a day for the rest of his life to flush all the sh*t out of him.
You are probably correct, stocks did not reach 1929, pre crash, levels until around 1955. That doesn't include the effect of inflation though, so it would actually be even later. So if you are around 60, you'd be 85 or 90 when the real value gets back to what it was.
Says who?
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