"I am growing increasingly concerned about the government's spending money they don't have to overcome and economic problem caused by people spending money they didn't have." - BKM
Spot on, bruther. Spot on.
All politics aside (puuuhleeeze), I'm almost on the verge of raising my Economic Terror Level Warning to "Truly Frightened." I've never seen anything like this.
- California's unemployment rate reached 10% today.
- No one thinks Citigroup stock is a bargain at $1.50 a share.
- The Gross Domestic Product shrank 6.2% in the fourth quarter of 2008 -- the worst drop in 25 years.
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"I am growing increasingly concerned about the government's spending money they don't have to overcome and economic problem caused by people spending money they didn't have." - BKM
Spot on, bruther. Spot on.
All politics aside (puuuhleeeze), I'm almost on the verge of raising my Economic Terror Level Warning to "Truly Frightened." I've never seen anything like this.
20 comments:
Worst is around the corner. A few trillion dollars of commercial loans are about due for refinancing. This will be huge. Shopping center owners, fast food restaurants, business owners, you name it will not be able to get money to stay open, properties will revert, and prices will totally collapse. Think of it as the home mortgage situation only much worse and instead of homes it's commercial property that goes into foreclosure. And that impacts and kills any traction that the housing markets may eek out between now and summer. Trust me, those that understand economic fundamentals are heading for the hills, figuratively. If you don't buy your silver and gold in the next week, you'll be too late. Convert to cash and hard goods, and property. Anyone with the means who is NOT scrambling to find 10 or 20 wooded acres is crazy.
Right on Barry, did you switch political parties today? You have been leaning that way with your positions on the bailouts.
I wonder if the Decatur beggar is hiring???
Bright move there Obammy. Raise taxes on small business and punish them out of existence. Hope everyone enjoyed the Kool Aid. The light at the end of the tunnel has now been turned off. Hurry up 2012.
To Barry...
I am certain you want to put politics aside. Just to give you a REAL idea of how much money the DEMOCRATS have pissed off the past 6 months and plan on pissing off for the next couple of years.
A million seconds is 12 days. A billion seconds is 31 years. A trillion seconds is 31,688 years.
The country has not existed for a trillion seconds. Western civilization has not been around a trillion seconds. One trillion seconds ago – 31,688 years – Neanderthals stalked the plains of Europe.
A million hours ago was in 1885. A billion hours ago man had not yet walked on Earth. A trillion hours ago dinosaurs roamed Earth.
Obama intends on hanging the TAXPAYERS out to dry for an ADDITIONAL $3.6 trillion with his OBSCENELY bloated 2010 budget.
Obama's budget is so big that if the government ONLY spent $1 million an hour, non-stop for 24 hours a day, it wouldn’t run out of money for 411 years.
Obama and the Democrats declare they "WON" but the question must be asked, would they have "won" had the public been made aware of their true intentions prior to the election?
You and the Loony Leftist Liberals voted for "CHANGE" and you can bet your last dime and any you and the rest of us plan on making that you are getting CHANGE!
CONGRATULATIONS!
You will have to forgive me for NOT thanking you and the rest of your ilk who voted for CHANGE!
MZCHIEF for President.
Mzchief, why weren't you bitching when your pres was spending money out the ass? He's the one that got us here.
I am a business owner, related to the car industry and I have been hurting for two years. People this past summer kept telling me I was depressed, etc. "You need to get some help"..
Those same oilfield folks who were rolling 9 months ago are calling me wanting to know if I will bid on their stuff they have to dump. We quit spending on ANYTHING extra at my house a year ago. The Wise Co oilfiled deal is in the middle of collapsing and this deal is fixing to get ugly quick.
I do like all of the people who walk around and say nothing is wrong though. I cant wait to buy their stuff.
Obama is the ONE or the closer for a socialist agenda! Why are we surprised he has a radical agenda that will do away with capitalism. He is the leader of secular salvationists.
Obama was groomed by his communists grandfather beginning at the age of 10 when he came back to live with his grandparents from Indonesia.
He followed the plan set up for him outlined by soicalist leaders that failed in the 60's. He has associated with radicals, black liberation pastors, ACRON and other far left radicals.
The movement first took over the Democratic Party to take their place to take control!
He is on his way to doing away with all private property and like the Islamic fundamentalists will stop at nothing to do away with capitalism to save the world!
He is backed by George Soros who funded moveon.org! On Sept. 18th a manufactured crisis happened when over $500 billion run on the bank creating the economic coup that he won on!
Since taking office he has used fear and spoke of economic castrophe to pass his massive spending and the soical programs he outlined in the second part of his speech before Congress: universal health care, education and strict regulation on energy to save a planet from climate change.
People who heard change thought reform, not a revolutionary agenda to change America to socialism.
Now is time for debate, time for protest and time for everyone who cares about freedom and the future of our children to understand the dangers of the hard left. The hard left who belive secular salvation are as radical as any other radical religious cult!
Radically changing the economy to spread wealth to the lower class is what they mean when using the word change!
Obama and the Democrats are not the majority! The people are the majority and it is up to us to save ourselves and our children.
Socialism will enslave us and we will lose our freedom.
The protest have begun as people take to the streets to protest!
The heartland could see through Obama by his associations with Rev. Wright and William Ayers and by hearing his speech on saving the world! Some understood the code words he uses but most just wanted reform!
Sounds like there is a traitor at ABC. After campaigning for Obama and turning the voters against his opposition, one of their own betrays him. He should change his name from Charles Gibson to Judas Gibson. There is no honor in a den of thieves.
We are NOT in near financial disaster b/c of anything that President Obama has or has not done. He just inherited this crisis 39 days ago.
So, the question is can the 'Looney Left' avert total Global economic disaster created by decades of failed laissez faire, deregulation fiscal policies of the 'Retarded Right'?
-We do know that the Republicans have no solutions
-We do know that doing nothing is not an option b/c we are sinking too fast
-We do know that the Bush method of hiding the numbers is not the solution.
-We do know that the Republicans were quiet as church mice when THEY were spending Trillions (no counting the seconds there).
And despite what all the polls say in (un)Wise County, there are many actual Economist who advise government spending is necessary to halt the rapidly free falling economy. However, at this point, it seems doubtful that the people of this country have the fortitude or the political will to save themselves.
Good points MZCHIEF. Hidden beneath all this debt are treasury bonds being sold to China. China has the dollars to loan from selling bubble packed merchandise in America. Now they have a second lien on real estate collateralized at Citibank. They might have figured out that you don't have to invade a country to own it. There is more than one way to colonize the U.S. I guess they knew that we had nukes and war was not an option. This is way over the heads of Obama and most Congressmen and Senators. For those who do not know what I am referring to, I recall from high school history that the reason countries gained colonies was that they needed a place to obtain raw materials and/or a place to sell their manufactured goods. They wanted trade partners that they could control and take advantage of.
During the Reagan administration, I remember the pundits wondering if the national debt might reach $1 trillion - it did......and $2trill. .... and $3 trillion.
During Dubya Bush's administration the national debt began to accelerate at a rate not seen since the Reagan administration. In fact they had to turn off the debt clock (I think that's what they call it) because as we approached $10 trillion, there would not be enough zeroes. What comes after a trillion BTW? Gazillion????
So, MZCHIEF, you can apply all your little trillion tricks to the Republican boys too.
At least Obama was honest enough to put the cost of the wars in the budget - something that had not been done before. It was hidden somewhere other than the budget.
This economic collapse did not start with Obama - you people just love to forget that.
It's gonna get worse, tis true. We've known that for months - we just don't talk about it until it starts to happen.
I'm just glad someone is in the White House that has the intelligence I can admire, and hopefully can find a way to recover from this.
Welcome to our terror that began when the community organizer announced seeking the office. The warnings were always there but no one listened. It was easier just to blame Limbaugh, Hannity and other "right wingers" rather than face the reality. Obama is in every way a Socialist...all politics aside....this is textbook economics.
It's never really been a free market economy.
Conservatives love using the word 'socialist' because they believe in the philosophy of Free Market. However, bankers always knew they could lean on the taxpayer. Even as US bankers, financiers and Hedge Fund Mgrs were playing their game of high risk, they were confident the gov't would not let them fail. So were all the other banks and businesses worldwide who made deals with them.
Government support --implicit or explicit -- makes no difference. Therefore, if you believe we are socialist now, then we have been socialist all along. You just didn't realize it.
9:09 AM
YOU are exactly right!
It's about time for Texas to gather it's marbles and go home;this --it ain't gonna work.The COUNTRY OF TEXAShas nice ring to me. DAGO
Our President has the Democrats mad and the Republicans happy.
Boy that reeks!
Will Wise County refuse any part of the stimulus funds that will filter down from the state?
Republicans control the courthouse.
Let the party switching begin.
Okay, I give up. Who is BKM?
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