OUR CURRENT ECOMOMIC CRISIS

[Dan]

As I watched some of the News reports on our current economy state I began to wonder...
     Is this the End of America The Great as we know it?!

[Americanhero1]

[briann]

Ive said there was gonna be a depression for the last year... and people thought it was inconceivable.... but they are slowly waking up.

[Nik_Srb]

As I watched some of the News reports on our current economy state I began to wonder...
     Is this the End of America The Great as we know it?!

who knows what might come to pass,things don't all ways turn out as you would expect,g*d knows(in other words,the elite with lots and lots of cash.  )

[arksis]

I say we are headed towards disaster...........as long as liberals and people with no morals OR common sense run this country, we are doomed, simple as that!

[Confederate Kahanist]

Were probably going to go into a period of hyper inflation if the fed print up so much money to fund all these stimulus packages.  Were better off investing our money in milk than just keeping it in dollars.

[IsraelForever]

As of this writing, including me, there have been 13 votes.  I'm the only one who voted "too early to tell."  So, obviously, I'm not in the mainstream here.  Don't ask me why, but after Obama's speech, I predicted that the market would go up 250 points.  I couldn't have been more wrong.  It went down around 80 points.  So maybe we are headed for disaster.  But maybe I voted "too early to tell" simply because I'm praying every day that things will get better and I want to believe it.  Many experts are saying that we are in uncharted territory now, too.  So maybe no one knows for sure what will happen. 

[SavetheWest]

Ive said there was gonna be a depression for the last year... and people thought it was inconceivable.... but they are slowly waking up.

You were right.  

I think as an alcoholic or drug addict, we need to hit rock bottom before we can survive as a nation.  People still don't understand what is at stake.  I just talked to someone who voted for Bush in 2004 who said he voted for Obama.  He said because Obama would let them be on benefits for 18 months and give health care help, that this person would reelect Obama. He said other people could afford to help him and he hasn't even bothered to look for work.  Some people who were employed for the last few years should have been fired years ago but the economy did so well that many companies ignored some of their useless workers.  Now they are seeing some of the dead weight for what it is and those people think they are owed something more than anyone else.  America has become sickening.  

[arksis]

You are so right SaveTheWest, America has become sickening. Have you talked to others? Has Obamanation affected anyone you know? So far, everyone I've spoken to, this has affected, even jobs. A friend here, all relatives of hers, out of 6 people, 3 have lost their jobs. I have had a pay reduction and my insurance premiums taken from my check have gone up. My husband said it's going to come to the point that we will be GRATEFUL to work for peanuts if Obamanation has it's way and EVERYONE will be working for peanuts.

[briann]

Ive said there was gonna be a depression for the last year... and people thought it was inconceivable.... but they are slowly waking up.

You were right.  

I think as an alcoholic or drug addict, we need to hit rock bottom before we can survive as a nation.  People still don't understand what is at stake.  I just talked to someone who voted for Bush in 2004 who said he voted for Obama.  He said because Obama would let them be on benefits for 18 months and give health care help, that this person would reelect Obama. He said other people could afford to help him and he hasn't even bothered to look for work.  Some people who were employed for the last few years should have been fired years ago but the economy did so well that many companies ignored some of their useless workers.  Now they are seeing some of the dead weight for what it is and those people think they are owed something more than anyone else.  America has become sickening.  

Yes, you are right on both counts.  We DO need to have a period of reckoning.   A period where those who had artificial wealth, due to debt or speculation lose their shirts.  A period where people look to be productive in different ways.  A time when people have to pay their debts and get their finances in order.

A problem with the last recession is that we were able to 'artificially' stay out of it, by using our homes as ATM machines... so everybody re-financed and the economic contraction became a 'blip' and people continued to spend at an unsustainable rate... and home values continued to rise, and debt continued to skyrocket.

Obama is now trying to sorta do the same thing in an even MORE destructive way.  He is trying to 'spend' his way out... he is allocating scarce resources in areas that the market doesnt want, and we will have to have a period of reckoning for THIS as well.  But what makes this 1000x worse... is just what you said... that his 'stimulus' plan has MAJOR incentives for NOT being productive.  It MASSIVELY expands welfare and unemployment.  He destroyed the welfare reform act of 94.  He is making unions more powerful.  NONE of the $ goes to infrastructure.... its all nonsense liberal pet projects that have shown time and time again to have a negative effect on the economy.

This is why his stimulus is WORSE than the New Deal.

[SavetheWest]

You are so right SaveTheWest, America has become sickening. Have you talked to others? Has Obamanation affected anyone you know? So far, everyone I've spoken to, this has affected, even jobs. A friend here, all relatives of hers, out of 6 people, 3 have lost their jobs. I have had a pay reduction and my insurance premiums taken from my check have gone up. My husband said it's going to come to the point that we will be GRATEFUL to work for peanuts if Obamanation has it's way and EVERYONE will be working for peanuts.

I don't know anyone now who has not been affected by this in one way or another.  One of my long time cowrokers was just laid off and they put his job out of state.  They just laid off that job now too and I work at a profitable company.  If I lost my job I don't know what I would do..I'd be in real trouble.

[SavetheWest]

Ive said there was gonna be a depression for the last year... and people thought it was inconceivable.... but they are slowly waking up.

You were right.  

I think as an alcoholic or drug addict, we need to hit rock bottom before we can survive as a nation.  People still don't understand what is at stake.  I just talked to someone who voted for Bush in 2004 who said he voted for Obama.  He said because Obama would let them be on benefits for 18 months and give health care help, that this person would reelect Obama. He said other people could afford to help him and he hasn't even bothered to look for work.  Some people who were employed for the last few years should have been fired years ago but the economy did so well that many companies ignored some of their useless workers.  Now they are seeing some of the dead weight for what it is and those people think they are owed something more than anyone else.  America has become sickening.  

Yes, you are right on both counts.  We DO need to have a period of reckoning.   A period where those who had artificial wealth, due to debt or speculation lose their shirts.  A period where people look to be productive in different ways.  A time when people have to pay their debts and get their finances in order.

A problem with the last recession is that we were able to 'artificially' stay out of it, by using our homes as ATM machines... so everybody re-financed and the economic contraction became a 'blip' and people continued to spend at an unsustainable rate... and home values continued to rise, and debt continued to skyrocket.

Obama is now trying to sorta do the same thing in an even MORE destructive way.  He is trying to 'spend' his way out... he is allocating scarce resources in areas that the market doesnt want, and we will have to have a period of reckoning for THIS as well.  But what makes this 1000x worse... is just what you said... that his 'stimulus' plan has MAJOR incentives for NOT being productive.  It MASSIVELY expands welfare and unemployment.  He destroyed the welfare reform act of 94.  He is making unions more powerful.  NONE of the $ goes to infrastructure.... its all nonsense liberal pet projects that have shown time and time again to have a negative effect on the economy.

This is why his stimulus is WORSE than the New Deal.

Yes, he did pass the cost of the New Deal already.  Obama thinks he can solve all the worlds problems and that's why is proposing more and more spending.  Now he will magically pay down the deficit too.  How, without killing people with taxes.  Nothing he does seems to have any ground in reality but sounds good in some Trinity church speech or Columbia University lecture.

[MasterWolf1]

Headed towards Disaster. I am so angry about all this and I would love to be wrong on this one but I don't see any end in sight. Not by a long shot.

[Dr. Dan]

things will get better, but the dollar has been tremendously devalued as a result of Obama's plan to have a trillion dollar deficit...we are heading into a disaster.

[arksis]

You are so right SaveTheWest, America has become sickening. Have you talked to others? Has Obamanation affected anyone you know? So far, everyone I've spoken to, this has affected, even jobs. A friend here, all relatives of hers, out of 6 people, 3 have lost their jobs. I have had a pay reduction and my insurance premiums taken from my check have gone up. My husband said it's going to come to the point that we will be GRATEFUL to work for peanuts if Obamanation has it's way and EVERYONE will be working for peanuts.

I don't know anyone now who has not been affected by this in one way or another.  One of my long time cowrokers was just laid off and they put his job out of state.  They just laid off that job now too and I work at a profitable company.  If I lost my job I don't know what I would do..I'd be in real trouble.

So sorry to hear about your coworker! Last week my pay went DOWN $20! Yet on my pay stuf it says, "Wage reduction - $10.00"

I truly hope you never lose your job! We should ALL pray for ours and others jobs to stay with us!