Posted on 03/03/2010 8:03:26 AM PST by Starman417
“This isn’t about Obama, though he is almost certainly making the inevitable worse. I told my republican friends before the election that they should consider if they really wanted McCain to win because when this went boom - and it is inevitable - the party in charge will be blamed. Many have now publicly argued that McCain did not want to win in 2008. It may explain the pathetic race.”
There is merit to this. At this point, I think Obama’s people know what’s coming and their immediate goal is to kick it out past 2010 and then 2012. Hence, the frantic re-inflation of the stock market and real estate market with obvious temporary fixes that will hurt more in the long run than they help now.
This is kind of like Hearts. Someone is going to end up with the Queen of Spades. Whoever that is will become the next Herbert Hoover. If Obama manages to keep the economic balls in the air thru 2012, the next president will get the Queen. If he doesn’t, Obama already has it. My bet is Obama already has it.
I agree with much/most of what you said in your post. Government is too large & inefficient to solve much of anything long term. This goes way beyond partisan politics.
Even just a full year or two of gas at $5-6/gallon would cause the wheels to come off much quicker.
The stopped clock on my wall is right twice a day.
I call it a “Democrat clock.”
“recession/depression” not a unexpected suprise with Obama in office,hope and change.
Of course that fat slob communist sees it! He wants the country to fail so that when the pieces are picked up he will be part of the new communist elite. (Then again, the fool might be expendable.)
“The commercial real estate bubble hasn’t burst yet.”
From a construction standpoint it’s been gone in my state since late 2008. Every project I worked on in 2009 and 2010 has been some form of gov’t construction, whether it be Local or Federal.
A new survey from Career Builder exposes what will be an increasingly common trend as America ages demographically -- older workers are being forced to keep working and postpone retirement for financial reasons.
More than seven-in-ten (72 percent) workers over the age of 60 who said they are putting off their retirement are doing so because they can't afford to retire financially, according to a new survey by CareerBuilder.
The good news is that many older workers are putting off retirement for positive reasons as well.
About 70% of workers delaying retirement said they are doing so partly because they enjoy their jobs according to CareerBuilder. Hence there are many Americans who are, yes, putting off retirement for financial reasons, but at the same time are pretty happy to do so since they enjoy working.
Such job satisfaction will become necessary for most young Americans, since fully supporting retirees from ~60 years onwards will be simply untenable as an increasing proportion of America becomes old due to demographic change and extended life expectancies. Already, in 2012 about 1 in 3 American workers will be over 50 years old according to The Economist.
Thus the financial crisis may have delivered an unwanted wake-up call. Americans will need to quickly learn how to work longer into their silver years. * * *
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