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United States News Title: We are in an Obama depression Open your eyes. Check your pocket book. Check your savings. Real estate is already in its coffin. The Stock Market is crashing. Forget about technical definitions of GDP, Recessions and Depressions. Today, the United States is already in a Depression. Don't listen to FED Bernanke or Treasury Secretary Geithner, or Motivational Speakers, or Sales Managers, or Promoters or Spin Masters, or Anyone who tells you "this is just a cycle." Denial. State of Shock. Wishful Thinking, Anybody who tells you "Oh I've seen cycles like this before." Time to face Doom and Gloom and prepare. A tropical storm with winds that do not reach the technical definition of a hurricane can wipe out entire cities with 15 inches of water. Does that make the tropical storm by definition less destructive than the high winds of a hurricane. The United States Government is not wanting panic and so you can only judge now by your own financial circumstances whether the Unites States is in a Depression. What is taking place in the U.S. Economy now could never be imagined. 1,400,000 foreclosures in 2008; 1,800,000 foreclosures in 2009; 3,000,000 or more expected in 2010; unemployment 9.7%, (real unemployment 20% counting underemployed ); 21 Billion shortfall in consumer credit card spending; 5,000,000 small businesses out of business in 2009, more in 2010; Record Bankruptcies, dollar worth 80 cents but rising, incomparable deficits looming, likely hyper-inflation. In Europe, the European Central Bank will save Greece, Spain, Portugal from bankruptcy but just buy time. We are in a World economy. Have you noticed American jobs have been outsourced. This is payback time. We are a part of the Global economy, no longer an independent Country. FEDs zero interest rates to help Wall Street make obscene stock market profits-absurd; Retail sales very slow; consumer spending down; 60%-80% of all homes and condominium sales are SHORT SALES or foreclosures at about 55 cents on the dollar; Double Dip Housing Crash already underway, values will fall another 8%-30%; Commercial real estate crashing; record credit card defaults, etc., etc. A recovery? No, just U.S., FED Spin. Small stimulus GDP growth will fall when stimulus ends. But 2010 GDP forecast by U.S. at only 2%. Will be less, things are now crashing! Health care reform appears dead but costs are high, could bring U.S. closer to bankruptcy. Our Government is polarized the Democrats vs. the Republicans, a real Super Bowl event. What important legislation will come about. None. Bailouts, the beginning of the end. When a Government has to bailout too big to fail Banks, or Insurance and Auto Manufacturers, doesn't that seem odd to you? What math are they using? What happened to stated policy 10 months ago that there could be no recovery unless the housing market was fixed, foreclosures and short sales ended, retail sales were up, and consumer confidence (marginally up) and spending (66% of the GDP) was up. I guess the fundamentals don't mean anything, anymore. Now, the economy seems to be measured by illusion of the day. As a Realtor, look hard, you're working three times harder but what's in escrow, what will actually close, will you receive a full commission, are you making a living? Bad deal with the bank bailouts. Instead of lending, these banks remained greedy and bought stocks when the DOW was 6,500, and rode wave to 10,670 making billions. U.S. Administration duped, Geithner made deal with the devil (banks). Now, the inflated stock market will crash on any unsuspecting American, and their 401ks. Maybe the prayer of the Main Street/General Economic Recovery, a house of cards is the new P.R. Mantra. The spin and half truths of the U.S. Government regarding unemployment numbers, GDP numbers, is dangerous P.R. A meteorite is crashing to earth. Do you expect the U.S. Government to tell you. Look at your cash, your net worth, the United States is already in a Depression. New Definition: You Know A Depression When You Feel it! Looks like President Obama, Bernanke and Geithner did not have the experience or correct intentions after all. They've thrown their ace and lost the bet. There is no plan B. I still believe Bernanke and Geithner will get their payback with $100,000,000 annual jobs on Wall Street, most likely from Goldman Saks. I now believe (even though I voted for him, believed in him) that President Obama is too appeasing, naive and only interested in his Health Care Reform legacy, even if it's a watered down and becomes a worthless plan that ultimately enriches the big insurance companies. I have come to view President Obama as a one term President. Hopes dashed so quickly. Still believe the increase of 70% is stimulus-driven, artificial stock market (DOW) (now falling) will fall to 8,500-9,200 or much lower. I tried to raise issues regarding the reporting of truth but it's not possible to stop the corruption and dominance of lobbyists and spin. American public duped by corruption and spin. The U.S. Economy has been infiltrated with the likes of Goldman Sachs, big banks, too big to fail corporations, lobbyists and Industrial War Complex. They are now in control of the U.S. Government and government legislation (Senate and Congress). The dysfunction of Government, democrats vs. republicans, voting in partisan blocks destroys the possibility of meaningful progress. The wars in middle east seem endless, pointless. Iran is next threat. And many point to 9/11 as the beginning of America's decline. Remember the United States outspent Russia and caused Russia's collapse. Did terrorism use the same U.S. strategy to bankrupt America? China owns too much American bonds (debt), and China is now buying chunks of Morgan Stanley, Bank of America, Citigroup, Apple, Johnson & Johnson, Visa, etc. And China is only loosely connected with U.S. for economic gain. China is not our ally. America needs a strong President with the power of the people, yet President Obama's popularity has fallen too low, too quickly. May be viewed as lame duck. A double dip in housing is already underway, and the economy is anemic and may fall into technical recession again. But truth is, in my view, by my definition, the United States is already in a Depression.
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#1. To: dont eat that (#0)
If there was, they wouldn't be floating a second faux stimulus bill.
Its getting uglier out there...
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