The collapse of 2009?

2/11/2009:

You predict where the country will be in 12 months…

Hoboken411 has received well over 100 different emails about the economy recently – specifically how the “media” isn’t spending as much time on those that opposed the recent economic “stimulus” package that has been the lead story for the last week.

While Hoboken411 doesn’t specifically sway one way or another – I like to give some of the lesser-seen pieces some airtime for those that likely missed them.

As one reader cited this point from boortz.com: “The non-partisan Congressional Budget Office issues a report which essentially says that the so-called “stimulus plan” is a fraud and will not work. Nobody listens. The mainstream media generally ignores the CBO report because their investment in Obama is so overwhelming that they simply cannot allow him to fail. Their credibility is at stake.”

So what is more important to you? The “credibility” of those media companies? Or your economic future?

“You can’t spend your way out of problems…”

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81 Comments on "The collapse of 2009?"

bri777
Member
bri777

As Gerald put it so well, you sheeple need to wake up, take your eyes off the bread and circuses, and see things for how they really are in this country. The two major parties are just two wings of the national statist party. The self-aggrandizing, self-propagating establishment that runs this country and knows that as long as they keep blowing smoke up the sheeple’s @sses like “America is the shining city on the hill” or “this is the land of opportunity” and trot out Lee Greenwood to belt out “God Bless The USA” with a few F-16’s doing a low fly-by at the ending that the you will pretty much just bend over and take it like a chump 😆

xofalconxo
Member
xofalconxo

[quote comment=”135492″]when reagan came in he inherited a sagnating economy with high inflation, high unemployment. his programs produced 3.4% averag GDP growth, pulled inflation and unemployment down by approx 50% in 2yrs. the problem here is that you are not putting the programs in perspective. you are looking at notes from your poli sci classes and saying how this worked relative to your experiences (few)…you have never seen 14% inflation, and 11% unemployment (that’s nationally, some cities had 20%) and 18% mortgage rates…it was so bad the “misery index” was established. so to see how incredibly fast the economy was turned around gives a great deal of credit to plans that you “poo poo” now. and reagan had no stimulus money to spend either!!!
we’re still waiting to see if barry can even come up with a plan?[/quote]

Then if the economy turns around in two years or so under Obama’s watch, I expect you to give him the same credit that you give to St. Ronny for the economic disaster that Obama inherited from W.

brian_g
Member
brian_g

MR,

There is almost zero chance of the US treasury having its rating lowered. It serves no one’s purpose and would cause absolute chaos.

brian_g
Member
brian_g

The highest level of unemployment in the last 60 years was reach in December of 1982 at 10.8%, nearly 2 years into Reagan’s term 3 points ABOVE the level of unemployment when Reagan was sworn in. That’s what Tramp meant when he said Reagan cut unemployment in half in his first 2 years in office.

Volcker intentionally spiked inflation in an attempt to stimulate the economy.

Deflation is worse that inflation, all thing considered, unless you get into hyperinflation stages.

Reagan did some good things while in office but he also made some big mistakes. The hagiography of St. Ronald of Hollywood by the right completely ignores the downsides of the Reagan years.

MidnightRacer
Member

It’s the inflation that worries me the most. I was only a kid, but I remember.

I think everyone needs to understand that foreign countries will at some point cease lending money to the U.S. in fear of seeing a potential fall from AAA rating, an even more enormous risk of default, and no guess as to when the USD would recover. Why would anyone put their money into that? Plus, the global economy is in severe decline, who’s gonna have the extra money lying around (China has their own internal issues brewing)?

Those who are in favor of this gigantic spending package need to understand if it passes, the US will have to create a public works jobs program to manufacture way more money printing machines. Soon, that’ll be the only job we’ll have. But funny thing happened along the way to disaster. In the future, when there are hoards of worthless money laying around, we’ll be able to keep warm in the winters.

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