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Are we in for another Great Depression?
..like the sever one the whole world experienced before WW2. Nominally starting with the stock market crash of October 29, 1929 (known as Black Tuesday), the depression originated in the U.S.. From there, it quickly spread to almost every country in the world.
Despite the $1 trillion stimulus bill, unemployment consistently remained at 9.5 percent and above. Hundreds of thousands of additional potential workers have just given up looking for a job. Some analysts say the real unemployment rate is above 15 percent. The chair of President Barack Obama’s White House Council of Economic Advisors quit last week, the day before the elitist know-nothings in charge declared their “surprise” that 130,000 more jobs were lost in July.
Christina Romer, current Chair of the Council of Economic Advisers in the Obama administration, said she was headed back to Berkley and her spot in academia where she can pour failed Keynesian economics into the noggins of another generation of empty-headed college kids so they can move on to highly-paid government jobs where they can manage (ie., wreck) our economy at some future date.
Romer is the clueless neo-Keynesian who drafted the February 2009 report “The Job Impact of the American Recovery and Reinvestment Plan,” which the White House touted in its efforts to pass the $1 trillion stimulus bill. It was upon Romer’s report that the fascists trashing our economy based their predictions that if Congress passed the stimulus bill unemployment wouldn’t rise above 8 percent and would be dropping by now to around 7 percent.
Seeing no end to friends deserving to be paid off, House Speaker Nancy Pelosi (D-Calif.) called House members back from their August recess vacations on Tuesday to print more money and hand it over to the teachers, police and firefighters unions in the guise of a $26 billion state aid bill.
Meanwhile, Obama was out doing the one thing he does well, trashing his predecessor and his “disastrous policies.” He conveniently leaves out the fact that he voted for many of former President George W. Bush’s disastrous policies and has since ramped them up to infinity.
17 Answers
- moo goo gai panLv 61 decade agoFavorite Answer
Well the clock is ticking that's for sure but Obama said he has some ideas but has to go lose some golf balls first and after he checks with Michelle and they aren't going on vacation somewhere starting this afternoon he will fill us all in,, Wow what nonsense is that??? We can only hope we last until November when we can fire all the doomacrats and send them home and move to impeach Obama and evict him and the fat farce lady from our White House.. It's time to stop these moochers from destroying our country so Come on November.. "Yes We Better" or we will get to see what a depression really is like..
Source(s): Hope for change in Novembers elections or see you in the soup lines next year// - Ms. MinervaLv 71 decade ago
NEWS FLASH?? Well, yes, since the second half of the BUSH adminstration we have been in free fall..... halted only by massive amounts of government spending....which is the appropriate action to take under such catastrophic economic conditions.
Another news flash.....those who think this is going to go away in a year or so are living in dream land and need to wake up. The last economic crash of the same magnitude took TEN long years of massive government spending, the entire country throwing together and working toward recovery, and years upon years of having the effects of it felt in every household in the USA.
It is wake up time for Americans....who need to quit the line of whine that they are subjecting the rest of us to as they rant, rail and protest mightily that it isn't "going away" immediately like they want it to.
EDIT:;; Those who think that WAR solved the economic problems last time are quite incorrect.
Based on that same thinking, Bush got us into lots of war.
As best as anyone can tell, it didn't solve the economic problem...only worsened them.
So, it was the massive government spending and entitlement programs that solved the economic problem.
Not war.....my goodness, we have GOT plenty of war....not working out the way folks quite thought it would, is it?
- airjarrodLv 71 decade ago
Despite what a lot of people think, the lives of average Americans are NOT impacted by who the president is.
I would have gotten the job I did no matter who was president. My family is doing better than ever with both parents working full time. Who the president is had absolutely nothing to do with it.
- tribeca_belleLv 71 decade ago
No. We avoided entering a depression last year. The economic recovery will be slow but it will continue. The Fed is trying to drive up interest rates in an effort to help the economy grow faster.
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- Anonymous1 decade ago
recession and more recession, the economy has stopped growing and at the edge of retreat. Depression unlikely, however if you are out of a job and lost your home, you might not know the difference.
- DependsLv 71 decade ago
No, but I do see a double dip recession. Employment may never recover. Double digit unemployment may be with us for some time as it has in Europe.
- 1 decade ago
LMAO you people never learn
last time we deal with a economical crisis like the one we have now
WWII solve the problems
so get ready to die for rich multi billionaires private companies
for your freedom & dumb democracy
then peace will pravail at least for the next global war
- Anonymous1 decade ago
If we can keep the republicans out of office I think we will be alright fiscally.
Ronnie, DADDY, and junior left the country in a recession, their (republican) track record is well known.
