Obama budget sees soaring deficit as Obama promises honesty not lies!
US GDP: Bad To Worse bringing new questions on our recovery
GDP Shrunk 6.2% in 4th Quarter, Deeper Than First Thought
Citi Group reports 4th quarter loss of $10 Billion, govt. ups ownership to 36%
As GM losses deepen, bankruptcy fears grow We gave them $13.4 Billion and already they want another $16.6 Billion, let them Go! Cut our losses!
Home foreclosures in D-FW may increase with more layoffs
Last week I heard it given as good news that existing home sales was on the increase. Well now I find out why! 40% of those home sales are foreclosed homes. With job losses increasing every month and 1.7 million in the last quarter you can bet Home foreclosures and job losses will get much worse. I am sick of saying it but this is just beginning and will get much worse!
Last week when the Dow was at 7350 I said as most of you realize, that this is still just beginning and will get much worse regardless of the bailouts or partisan rhetoric. Bush and the Republicans guaranteed it and now besides trying to make Obama fail they are trying to blame another onje of their catastrophes on him. Last week I warned that you bettter start worrying at Dow 7000!
Two days ago in regard to Bernanke saying we could get out of this in 2010 I said Get a grip
Yesterday in regard to things getting worse and Obama opting to be honest with us instead outright lying and evasion practiced by Bush I wrote Obama: no more lying and hiding the awful truth
Then back on the 6th I wrote what should be obvious by now! It was a long ago foregone conclusion! This was written two years ago and The Second Great Depression set up by Greenspan was a given regardless of all these bailouts. at this rate the 10% unemployment Obama warned about is going to happen in about 6 months regardless!
All the promises and trillions in bailouts will do nothing but stave off the inevitable and speed up the bankrupting of America also set in motion by Bush. I have written it numerous times but I just want you to remember the great Depression and a couple parallel facts with this one! ** Remember it was the Republicans at the helm the last time this happened and while FDR's New Deal did a lot to bring us back and Obama wants to replicate it and it is necessary that it took WW2 to get us out of it!
**** It is important to remember as I have written about this too, too many times but Bush has laid the foundation not only for the bankrupting of America but WW3 to get us out of it or so they think! I am banking on Obama being able to turn the world around and pull us back from the brink!
James Joiner
Gardner, Ma
www.anaveragepatriot.com
10 comments:
I feel that Obama will rescue the economy. I just feel he has put to much on his plate. On the other hand it may be wise for him to strike immediately while his popularity is so high and the republicans are in the sewer.
Hi Minnesota
Glad to see you! I hope all is well with you. The right is more vitriolic than before the election.
They are doing their damnedest to see him fail so they can get back in. They said we destroyed America with 50 years of a welfare State.
If Obama is given the chance we will be okay but the right is not done by a long shot! You take care!
I really wish I could be as stoked as you are about Obama. He talks a great game, but when called out on the court to play, always seems to have some ailment that will prevent him from playing.
He says he's all for Honesty and Full Disclosure, but seriously, man, what the hell has he done to bring it about? Put the Iraq War in the Budget? Woooohoooooo!!! We already know how much that debacle is costing us. Do you think that will stop the Pentagon from coming back and asking for emergency supplements? Have another think, my friend.
This needs neither the help, nor the permission, of Congress. He needs to quit hiding behind his 'momma's apron strings' and blaming the Republicans for his failure to act like a man and keep his word from the Campaign Trail.
End the illegal wire-tapping? No. In fact, his AG, Eric 'State Secrets' Holder has been obstructing that one since the day of his confirmation.
Start re-publishing the M3, so we can see the exact health of the Dollar? No. Bernanke and Geitner are making sure no light gets shed on the true state of our economy.
Giving the reasons why the Iraq War will not end? No again. A draw-down to 50K troops is NOT an end, it's a continuence.
Giving the real reason (protecting big oil) for needing an escalation in Afghanistan. Nope. In addition, he's fomenting another illegal war of aggression with Pakistan by sending in unmanned drones with Hell-fire Missles. But Big Oil needs US to totally control Pakistan so they have a clear and safe route to get that Caspian Basin oil out of Afghanistan and into the Arabian sea for transport.
You mention parallels to the Great Depression, Jim, I'll give you divergencies that will make this the Greatest Depression. The main thing is: The Corporatists, AND the Citizenry, of today and the 1940s are cut from two distinctly different bolts of cloth. Another divergence is Obama is no FDR, he doesn't have the balls. FDR had to crush the money-changers, Obama is scared to do that. Maybe he's afraid he'll end up in a wheelchair like FDR, not from polio, but from a botched assassination attempt. He may be right to fear that, as the Military/Industrial Complex has his family jewels firmly in the grip of their hot sweaty hands.
I admire your optimism, Bud, but you know as well as I do, this country is screwed until someone brings the hammer down on the avarice that has engulfed this once-great Nation of ours.
Sorry for the rant, it's just my two-gigabytes worth. ;)
brother
I have a lot of hope but the more I see not of what he is doing but what he is not doing the more worried I get.
I still believe his strong point is that he will do the right thing for average Americans. I still have hope!
Hi James,
Seems the West is lurching towards a long long crisis -- Western Europe has been pumping money (stimulus package after another) into the economy but Eastern Europe that are members of Europe are having a hard time.
Western EU members are asking companies to relocate back to Western Europe to build jobs, eg., companies that have set shops in Eastern EU countries. This is causing problems in the EU itself, with poorer members wanting us in Western EU to finance their own stimulus packages.
Can you imagine that? I now have to pay for the rest of Europe -- my great great grandchildren will find themselves debt ridden as soon as they're born.
I sympathize with my fellow EU citizens in Eastern Europe but heck, there's so much we can do.
If we have to be taxed some more, ordinary Western EU citizens are gonna die...
But admittedmly something has got to be done to resolve this crisis of gargantuan proportions. 'And the Western world must take the lead even if we have to thump the Chinese, the Indians, Russsians or what have you...)
Let's hope Obama is testing the idea of telling Americans the truth.
Most of us would support him if he would actually do that, I think.
No one will ever know all the real damage that Bush has done to this country and to the world.
We see a few of the significant things that involve our wallets but we will never know all the devastation yet to come.
Thus the Bush mantra continues for our obvilion.
Hi Anna
A lot of people took offense when I said Greenspan and Bush purposely set this up and Bush instigated the world to WW3 to fund this. This collapse is just beginning and once again we are bringing the entire world down.
The timing of all this is no coincidence. There are no coincidences today just lies!
We were warned against being isolationist but I am afraid out of necessity the entire world is going to have to go back to their roots!
Remember what it took to come out of the first great Depression. It will be the case once again despite all the Bailouts! Just relax, stay in touch, and hold on!
Hi Dave
I agree! What is sick is he is at least I think, trying to be as direct and honest as he can and the asshole Republicans are trying to use it against him. I can't stand this idiocy while we are just allowed to sink!
Larry
Is that you man? It has to be! You just saw what I said to HillBlogger and I know you agree!
The truth will never be spoken about the damage he caused past, present, and future but the hell that is just beginning here and around the world is compliments of Reagan Bush and Republicans!
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