Monday, July 06, 2009
2009 Financial Collapse! The 8th largest economy in the world is Bankrupt and this is just beginning!
Of course Republicans are giddy over this but remember under Reagan unemployment was 10.8% right now it is at 9.6%. They keep saying we are in a recovery but no way. States are collapsing and it took Bush 8 years to this but I am afraid this is not a recovery. We are thanks to Bush and Greenspan just putting of the inevitable. Remember the economy collapsed on Bush's watch. What most do not realize is it was done on purpose. Bush did not just turn a blind eye to what was happening on wall street he instigated it and Greenspan was his tool. Michael Whitney's second Great Depression
Obama: Job figures sobering, but show recession is slowing
US sheds 2 million jobs since Obama took office
46 Of 50 States Could File Bankruptcy In 2009-2010 | PUPPETGOV
The economic collapse of 2009, this is all proving true and should not be ignored
The situation is critical. We will see higher taxes and much less services across the Nation and this is just because of the collapse of California. New York and Arizona are also in serious trouble. As you read above, 46 of 50 States could file for Bankruptcy in 2009-2010. Cash poor California is now working off of IOU's. IOU's are flying off the shelves. How long can the world's 8th largest economy operate like that?
With 46 of 50 States facing Bankruptcy, Bankruptcy could be coming to a state near you. I have been trying to warn people for years now that this like everything else Bush had his grubby mitts on will be far worse than anything in the past. The economic recovery effort is supposed to be working. We are not losing the 700,000 jobs per month we were when Obama was elected.
Do not be fooled, this is not going to get better before it gets much worse. I saw a Republican propaganda video showing Obama as a Nazi and likening him In contrast to Hitler. It was way over the top and said it was time to rise up against Obama. Republicans are doing their damnedest to make him fail and every time they block him they brag about his failure saying we have to get rid of him quick.
Bush started all this and on purpose while creating his version of a new societal order. The resultant new disorder is just beginning. Since this so called down turn or recession we have lost 6 million jobs and by the end of 2008 1 million homes were foreclosed on and 6 in every 1,000 homes were hit. I wrote about this numerous times but have you ever read Michael Whitney's second Great Depression
* In closing, without a doubt despite all trillions and efforts to curb this what I call the second Greatest Depression is just starting and will not be stopped. Like everything else Bush had his grubby hands on this will dwarf anything the world has seen in the past. Greenspan set this up for Bush and there is no surprise here especially the timing. This is not a recovery and I hope you looked at The economic collapse of 2009, this is all proving true and should not be ignored I am not a believer in any of that but just take a quick read and none of it can be denied!