Wednesday, March 19, 2008

Depression just around the corner, and it can't be fixed with Prozac

We've been predicting this since before the 2006 election. It doesn't take an economist to figure out what's been happening, especially during the Bush years. Everything that's happening is happening on purpose. This is no accident. Admittedly, it may have gotten out of hand in the last 6 months, but there is no doubt that the devastation of the middle class was planned long ago, just as the invasion and occupation of Iraq was.

For the poor, it makes life intolerable. Many of the middle class are about to join the poor and they won't like it one bit.

Why the attack on the middle class? I can't really say. What little economics I took in college was very little and taken only to please Dad, as business and econ. always bored me silly. However, one thing I do remember from those years is that the middle class is what keeps the nation prosperous and protects the upper classes from a full blown revolution (other wise known as class warfare by conservatives, especially the ones who have all the money).

Here's something to chew on: It wasn't until the 60s, after the boom years after the WWII, that ordinary Americans could afford to travel overseas and we did, in great numbers. Many traveled the old Happy Hippie Trail, which circled the globe. Many went to Europe; as for many it was the old country, from where their ancestors came. Others dared to travel to countries where the cultures are very different from ours. There are consequences for this kind of middle class behavior. Americans who travel over seas (not just for business), especially young Americans, will always be less likely to want war with anyone, unless of course we are attacked, as we were on 9/11, by whomever. (The FBI, last time I checked, has still not added 9/11 to the list of crimes Osama is wanted for, as they still don't have enough evidence., or so they say.)

So, you see, there is no way in hell we would be in Afghanistan or Iraq had it not been for the attack, but the plans for those wars were already made when 9/11 occurred. Our surplus from the Clinton years was a target as well as the Middle east.

The blood for oil crowd were wrong and we knew it then. although no one can blame them for thinking that It has always been blood for the control of resources, not for cheap resources. High oil prices, among other numb-skull acts by this administration and allowed by congress, would surely bring down the middle class, in such a way that it will take generations too fix, because the devastation is not over yet. By the time the next president takes office, we can expect all hell to break loose financially in almost every American household and around the world.

No place to run to! We will all stay home now and learn to fear and hate everyone, just like they want us to. Unless, of course, we realize who the enemy really is, just as the citizens of other nations must realize who their really enemies are.

Recession? Depression? Shocking Gallup Poll…

According to a Gallup Poll released this morning, over 75% of Americans believe the country is currently in a recession, and nearly 60% believe the economy could slip into a depression in the next few years. Thanks again, GOP.

Commentary By: Richard Blair

Negatively loaded economic terms such as “recession” and “depression” rarely make a lot of news, simply because neither is used that frequently in polite company. A Gallup poll released today, however, may actually allow these words to creep into a national discussion:

More than three in four Americans think the United States is in a recession according to a USA Today/Gallup Poll released on Tuesday…

…Seventy-six percent of to those polled said the economy is in recession, compared to 22 percent who said it is not, USA Today said.

Asked if the United States could slip into a depression lasting several years, 59 percent said it was likely and 79 percent said they were worried about it, the newspaper reported…

The poll was taken even before the Bear Stearns bailout had been thoroughly digested by a disgusted American public. One wonders, as the media has bandied about another pejorative phrase - “bank run”, to describe the initiating event of the Bear Stearns collapse last week - how much worse the same poll would look if taken today.

There’s not a lot that one can add to this gloomy poll, other than it’s rather surprising that it’s taken so long for the depth of U.S. economic woes to fully sink into the American psyche.

If you need even more gloom, I suppose you could go read this piece that I wrote a few months back (if you haven’t already). Remember - and don’t let any of your acquaintances forget - what we’re experiencing is a direct result of GOP fiscal policies that began during Ronald Reagan’s reign, and that were elevated to the high art of social theft during the Bush years.

The GOP pyramid scheme is collapsing - for most of us, anyway.

The “worst business cycle since the depression”?? Scary stuff, indeed.

(In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. I.U. has no affiliation whatsoever with the originator of this article nor is I.U endorsed or sponsored by the originator.)

The Nazis, Fascists and Communists were political parties before they became enemies of liberty and mass murderers.

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