United States News
See other United States News Articles
Title: Will the Obama Depression Last at Least 10 More Years?
Source:
[None]
URL Source: http://alfin2100.blogspot.com/2010/ ... pression-last-at-least-10.html
Published: Jul 16, 2010
Author: alfin
Post Date: 2010-07-16 10:54:23 by no gnu taxes
Keywords: None
Views: 1698
Comments: 8
"We don't have too many engines of growth functioning right now -- housing, consumer spending, exports are all sputtering. I have a hard time seeing where we can get 3% economic growth back." _CNN It's becoming obvious that instead of solving the economic problems he inherited, Obama is making everything worse. The risk of a double-dip recession is getting a lot of attention, but even that grim prediction could prove a little too optimistic. Disappointing job reports, weakness in housing and consumer spending and problems in world financial markets have raised concerns about the U.S. economy stalling out later this year. Now some economists are starting to talk about an even worse fate: a prolonged period of very weak growth, a so-called "lost decade." ...A lost decade, or something like it, could feel like a never-ending recession to many Americans, as the economy does not grow fast enough to recoup lost jobs, and investments like homes and stocks continue to lose value. _CNN When Obama Pelosi decided to declare war on America's middle class, it triggered a series of unreported collapses that severely reduced the chances of economic recovery. Part of this problem lies with the party’s base, which the urban historian Fred Siegel once labeled “the coalition of the overeducated and the undereducated.” Major urban centers like New York, Chicago and San Francisco might advertise themselves as enlightened, but they have lost much of their middle class and suffer the highest levels of income inequality. Representatives from these areas now dominate the party and reflect their bifurcated districts.,,,Not surprisingly, this agenda does little for the middle-class — mostly suburban — voters._NewGeography The middle class -- the backbone of America -- has been devastated by the radical social engineering, corruption, and political favouritism of the Chicago Way mob-style politics. It isn't really accurate to call what America is going through an "Obama Depression." It is more accurate to call it a nascent civil war. With every new legislative "overhaul" and "bailout" that passes under Obama Pelosi, the US moves closer to a national nuclear fission -- implosion-explosion. From a disastrously failed economic bailout, to an Obamacare which will reduce access to health care rather than improve it, to a banking reform bill which does everything except help to solve the problem, the Obama Pelosi agenda has enriched political insiders at the expense of the nation at large -- particularly the embattled middle class. If you take the recent Dodd-Frank "banking reform" bill, and look merely at its gender and racial quota provisions, the seeds for further economic devastation are apparent -- and the big payoff to Obama Pelosi supporters is painfully clear. Further perusal of the huge Dodd-Frank bill would no doubt find much more, and possibly much worse. But how long can a regime go on in this way, sucking the life out of a nation to enrich and placate its core support groups? How long before the nation buckles at the knees and falls on its face? It appears that Obama Pelosi intends to find out, by pushing its vampirish agenda upon the US all the way to the failure point.
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Begin Trace Mode for Comment # 1.
#1. To: no gnu taxes (#0)
No. Chances are it will be the Bubbette! Clinton Depression by 2012,or the Depression of whatever RINO beats her in 2012. No way in HELL is the first off-white President going to go down in history as a failure. Like the Tuskegee Airmen of WW-2 fame,he will go down as never having failed in anything,and none of the legislation he escorted was ever shot down or found defective in any way. (insert a couple of choruses from The Lion King for background music at this point)
There are no replies to Comment # 1. End Trace Mode for Comment # 1.
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Replies to Comment # 1.
[Home] [Headlines] [Latest Articles] [Latest Comments] [Post] [Mail] [Sign-in] [Setup] [Help] [Register]