Downright Depressing

It doesn’t look good.  Even a Keynesian neo-socialist like Robert Reich is beginning to use the dreaded “D” word:

The US economy was supposed to be in bloom by late spring, but it is hardly growing at all…Meanwhile, housing prices continue to fall. They are now 33 per cent below their 2006 peak. That is a bigger drop than recorded in the Great Depression.

Former sports handicapper turned libertarian pundit Wayne Allyn Root is not bashful about pointing the Fickle Finger of Fiscal Irresponsibility directly at our less than beloved Chief Executive.  Root’s outlook is not sanguine–and he’s a guy that should know how to set a betting line :

I predicted doom if Barack Obama was elected. Sadly the results are far worse than imagined. The economy is in shambles. America is staring at economic Armageddon.

Even me, the eternal optimist is scared at what the future holds. We are the Titanic, headed straight for the iceberg.

I am a successful small businessman and a patriot who loves America and always sees its greatness. I am also an optimistic, positive thinker who always sees the glass half full.

 But not this time.

This time the results are going to be dramatically worse than 1929. This time we are facing the worst depression ever.

Anthony Martin opines that Obama and his Democratic henchmen are doing exactly what they want:

For over a year political and economic observers who are not on the public payroll or cheerleading for the Obama agenda have warned that the supposed ‘positive signs’ that the economy is in recovery are false.

Despite these warnings, the Obama Administration has gone on a spending spree like never before in U.S. history. And to add insult to injury Obama and company have shown absolutely no sign or willingness to address the one single issue that is creating the current crisis–the national debt that is being fueled by new programs and expanded existing programs that must be paid for by borrowing money from China and other foreign nations.

And that raises the question, is America being set up for a mega-depression?  The answer to such a question is not far to find. This Administration has done the exact opposite of what the government should do when it faces such a crisis. Either this is deliberate, or the Administration is populated by the largest group of imbeciles ever assembled under one roof. And these people are not imbeciles, meaning there is only one answer left.

For every Presidential  inaction there is an equal and opposite reaction, and with Obama, none of them are good:

DEBT CEILING: Moody’s Just Threatened To Slash The US Credit Rating (Business Insider)

Moody’s is out with a comment saying that if there’s no imminent progress on the debt ceiling fight, the US credit rating will be cut

Don’t Look At What The Dollar Just Did After That Moody’s Threat (Business Insider)

Obama, of course, is content to golf while the dollar burns, leaving Tiny Tim Geithner to confound Congressional conservatives:

House Republican freshmen emerged from a closed meeting with Treasury Secretary Timothy Geithner with much of the same frustration they had after the White House meeting yesterday, saying they do not expect a plan from the White House on massive spending cuts to accompany the debt hike.

Meanwhile, Investors.Com reports that real wage growth over the last 10 years has been even worse than during the Great Depression.  And they identify the main perpetrator:

There are several culprits, of which by far the biggest has been the net loss of 2.7 million private nonfarm jobs since March 2001. (Government payrolls rose by 1.2 million over that span.)

Under this ‘president’, more people than at any other time in the history of the misbegotten welfare state are using federal food stamps.  If the American people are dumb enough to allow Barack Obama to commit 4 more years of unparalleled Marxist economic destruction, we’ll all soon be eating government beans.

–See related story Can you say…..Second American GREAT DEPRESSION?  at VotingAmerican

About Bob Mack

Retired since 2003. Military Service: U.S. Army, 36th Artillery Group, Babenhausen, Germany 1966-67; 1st Signal Brigade, Republic of Vietnam, 1967-68 Attended University of Miami, 1969-73
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22 Responses to Downright Depressing

  1. roxannadanna says:

    We are in such dire straits and TheOne thinks he’s going to just glide back in on a smile, some charm and his teleprompter. If, God forbid, he does get back in, it won’t be nearly as easy as he thinks.
    The numbers in my household just don’t add up to “I’m better off than I was before Obama.”

    • Bob Mack says:

      Of course, now we also have the AOTUS (Automated Pen of the United States) available to sign legislation for when Obama’s out on the links, or at a dance party, or at a poetry jam, or on another vacation, etc.

  2. loopyloo305 says:

    Of course, Robert Reich’s recommendation to Obama is to ignore the Republicans and spend more money. If we keep doing that we will never recover!

    • Bob Mack says:

      Reich is correct when he says there’s a big problem. His solutions, however, are the same ones that caused the problem in the first place.

  3. we can only hope we still have a country in 2012.

  4. It’s not just the Federal government that is intentionally working to collapse our economy. I read today that 30 states are demanding the the electrical utilities in their states generate 30% percent of their energy with renewable energy sources. Maybe their theory is that a quick death is better than a lingering death. Apparently they see the death of America as the only option available, After which, because they care so much, they will construct their socialist utopia. Yes, I’d say that is depressing.

  5. AFVET says:

    Obozo’s propaganda machine is gearing up to re-elect him in 2012.
    Beware the charlatan in office.
    Watch the congress.

  6. J. P. Morgan says:

    I’ll eat my own beans, thank you.
    Only a quackslaver like Obama can stand right before my eyes this very minute and state that his “investment” in the US auto industry was a huge success when it only lost 14 billion taxpayer dollars. What a flippin’ economic genius! I have grown so disgusted I have quit writing and just lay in some more food supplies and PM for the coming economic disaster. You did a great job of outlining the results of totally asinine economic decisions.

    • Bob Mack says:

      Hey, JP. Long time, no see. Glad to know you’re doing ok. Yep, everyday with this crew of socialists, it’s another classic example of “who ya gonna believe–me or yer lyin’ eyes?”

      • J. P. Morgan says:

        I hear the mountebank and the speaker are going to play a round of golf next week. I also hear the speaker is a pretty good ball striker, but may I be so bold to suggest that a nine iron to the back of the head would be the best club selection.

  7. The economic outlook is downright grim!

    In my view, the coming meltdown will affect all but the richest Americans.

    Batten down the hatches and hunker down, folks!

    • Bob Mack says:

      Yet, people still support this guy. It’s amazing. They really need to realize that today’s Democrats are definitely not yesterday’s Democrats. In fact, they’re not even Democrats.

  8. Freedom, by the way says:

    I am of the opinion that it is, in fact, deliberate. I’m not sure if Obama is “in the room” or taking marching orders from those “in the room” but every step appears to be calculated–more debt, print more money and bring down value of what $ we do have, hold our energy hostage with Green iniatives and by withholding drilling permits, promotion of unions to further enslave taxpayers and private industry, keep industry in a holding pattern with health care, encourage more people to be on the dole with food stamps, housing subsidies, student loans, unemployment benefits, scare tactics on medicare & social security, and lets make sure everyone doesn’t travel too much with higher gas prices and Gestapo TSA tactics…shall I go on? This is a takeover.

    • Bob Mack says:

      I agree with you. Everything these people do is out of the Alinsky-socialist-communist playbook. Like Anthony Martin said, either they’re imbeciles or it’s deliberate–and they’re not imbeciles…

  9. TexasFred says:

    Bob, I posted about Obama, unemployment and economics yesterday, one of MY comment makers said this:

    If it meant getting Barack O’Bama out of office, I’d settle down unemployed (would have to hunker some). In the long run it would be worth it. My new granddaughter and my other grandchildren might actually know a taste of freedom and a little prosperity in their lifetimes.

    I can understand his sentiment, but if you KILL the patient it’s NOT a successful operation..

    Bleak jobs report dampens hopes of steady growth: The TexasFred Blog

  10. Matt says:

    I’ve been preparing. Looks like I’ll have to accelerate that.

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