Friday, February 27, 2009
Bernanke says crisis could be over in a year! Yeah get a grip!This is still just beginning!
Obama to Congress we will rebuild we will recover!
Bernanke says crisis could be over in a year! Yeah get a grip!
Bernanke Warns Home Prices Could Fall Too Far
January existing home sales fall by 5.3 percent to lowest level in nearly 12 years
Bernanke says some markets have eased, 2010 could be a rebuilding year Just what markets are those and rebuilding what?
Wall street tumbles to new low not seen since 1997 Today it continues to get much worse!
This is not going to start getting better in a year! Yeah take two aspirins and call me in the morning! First a little reiteration: Anyway knowing what is happening right now with the coming of the second Great Depression and that it is no surprise but a culmination of hard work by Ronald Reagan and George Bush my thought process once again began taking a longer twisted road Reagan, Bush, Legacy, Security, choking Debt, security? We are more secure? I am afraid you are just beginning to find out how "secure" you are! So I can get off on another tangent and finish this, this could be very long so I did a query of past stories on the subject and it was overwhelming! I decided that I would supply the link and allow you to surf and just look at the titles. There are many stories and links in The Bankrupting of America
Okay speaking of Bankrupting America, keeping us "safe", and the dire financial situation the Republican's worked hard for and is just beginning to come to fruition, I have to go back to a parallel story line before I can go forward. We are today just starting to "bask" in the real rewards of Reagan and Bush's Presidency.First I am reminded that yesterday I saw a list of likely suspects to blame our financial disaster on. Greenspan was on it and should be. However I dismissed the list as bunk when Bill Clinton was number 13 on the list and ahead of Greenspan. Reagan was not on it nor was Bush who Is solely responsible not for the debt but for the collapse and he should have been number one on the list!
* Allow me a little Debt and Republican "success" history! It was President Reagan's "success" in keeping us "safe" that made it necessary for us to start the "Debt Clock" as due to Reagan's success our debt was climbing so fast a clock keeping track of its rapidly changing total was a necessity! Due to Bush's "success" last year the Debt clock had to be refitted as it could only handle a $9 trillion figure. it was refitted to handle $10 trillion. It is now moving so rapidly it makes your head spin.
Okay let me step back! Most know Bush all by himself had created more debt than every single President of the United States combined. What is never spoken and most do not know is that due to their "success" Three Republican President's are responsible for 74% of the country's debt, Reagan, Daddy Bush, and little Bush, At least until our current situation. I was just researching our debt and noticed so called experts say the true cost of the stimulus Bill is $3.27 trillion. $10.6 trillion is prior worthless stimulus packages, $2 trillion for Treasury Secretary Geithner, The auto Industry wants more, States are starting to fail.
That reminds me of something I say too often now. Of course I am talking about California and you know the saying, as California goes so goes the Nation. We are in serious trouble the hell with what is developing on the Afghan Pakistan Border. All these bailouts are worthless and this mess is just beginning. We will choke our kids with their debt! I ask you is that "success"? Is that security? That is being kept secure by Republican's? We can't afford any more security! You can see their true legacy the Bankrupting of America and Bush with Greenspan's guidance set this up and the second Great Depression is just taking shape. It is up to you to relax and be prepared. There will be no staving this off, that is just reality!
At a bare minimum this mess has been 25 years in the making! Jindal continuing to blame it on The Democrats is asinine. That childish idiocy has to stop or we are screwed. President Obama says we will come back better than ever, stronger than before. I don't see it unless we are talking smaller and more stream lined but better. However bernanke saying 2010 could be a rebuilding year is also asinine! This second Greatest Depression is still just beginning and has yet to hit bottom.
We can do this but we must stop being unrealistic. This is far from the bottom and will get much worse! We can do this but it is unrealistic to think of us being better than before at least not the way many of us think of it! How bad can the housing market get? How bad will the economy get? How bad the credit market? How bad the domestic violence? The job market? With home values in the cellar and getting worse looking for city, county, State tax bases to hit critical lows causing all States to declare Bankruptcy and look for Bailouts. The right is trying to blame this on Democrats but it is their fault and we may get out of it but not in a year or two!