Skip to comments.Fed Warns Unemployment May Double Great Depression
Posted on 11/27/2011 5:29:36 AM PST by radioone
I warned last week that a recession and higher unemployment were about to hit the U.S. economy. On Tuesday, the Bureau of Economic Analysis cut their estimate of growth in the third quarter ending September from 2.5% to 2%. Then on Wednesday, the Federal Reserve rocked financial markets by forcing Americas 31 largest U.S. banks to stress test balance sheets to determine their capability to withstand an 8% drop in the economy; which would cause home prices to plunge by 21%, and unemployment rate to jump to 13%.
(Excerpt) Read more at biggovernment.com ...
Citizen warns: Eliminate the FED.
The solution of course, is to ask Katie Courva what she’d do.
Before it’s too late.
Really. Stop screwing around.
Furlough Congress without pay. Eliminate benefits for this coddled class of human debris.
Who is the candidate that says he’ll slash 1 trillion in the first year? Who has dared say he’ll eliminate at least five government agencies during that first year?
Sounds like what America needs.
How many can remember when imported goods were few? Who remembers when there were no foreign countries that didn’t have many American automobiles on their streets?
Why do we need 143 different outposts spread throughout the world for our troops when there is war that goes unchecked on our southern border?
Why do we continue to put up with the evil that is Cuba located just 90 miles off our coast? Is it because the brothers Kennedy made a deal to save their cowardly faces with Kruschev that we have to forever live with?
Why is the Monroe Doctrine not used in relation to Venezuela, for example, that practices communism and gets along only with nations that hate America?
What is the Monroe Doctrine?
“Fed Warns Unemployment May Double Great Depression “
Like saying loss of a leg may affect your walking...
What next among little gems of wisdom from the online wizards....
We all had a hand in this.
We destroyed our own industry.
Since 70% of the economy is consumer spending, but 47% of all Americans are receiving some sort of Government check that is paid for with 40% debt (just this year), and a $15 Trillion dollar debt with $100 Trillion of unfunded liabilities - I'd say buying American won't help at this point.
Well, they should know ... they’re the parents of the baby.
Well one thing IS certain.
Buying Chinese won’t help.
I’d say buying American won’t help at this point
But stocking up on food, water and the means to protect your family, like many have been doing WILL HELP.
The crap will hit the fan. It’s coming. Be prepared.
We could turn this around immediately.
100% across the board import tariffs.
Plenty of jobs would return to American overnight. Wake up people.
We’re doing it wrong.
Hammm, less than 2.5% growth. I seem to remember one guy who talked about generating growth by revising the tax system ... who was that fellow? Didn’t he talk about a 999 plan or something?
Hmmm, I guess we took him to the woodshed, though, a while back ... made too much sense for this country of utter morons, I guess.
We don’t have growth.
We go further into debt by the minute.
13% unemployment?? We are already there.
Deregulate...detax...the same minds creating the problem ..are not capable of a solution.
The RinoCracy cannot admit to the idiocy their little minds are capable of...
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