There will be no recovery until Obozo is out of office.
NO RECOVERY, NONE until he is out of office.
“There will be no recovery until Obozo is out of office.”
There will be no recovery for a lot longer than that. We are looking at a potential financial Armageddon the likes of which no living person has ever seen. The Great Depression will look like nothing as compared to what we are facing. Read this article, but first make sure to have a bottle of either Maalox or your hard liquor of choice nearby: http://market-ticker.org/archives/852-Whats-Dead-Short-Answer-All-Of-It.html
Look, we have an incredible mortgage crisis - it is likely that some 10% of all mortgages may default: http://market-ticker.org/archives/851-The-Inescapable-Math-on-Mortgages.html That alone would be disasterous, a loss of $2-$3 trillion.
Tax revenues are already diving, and will tank much further as unemployment rises and not only their spending, but that of all others scared of losing their jobs or having a significant cut in income, will largely dry up except for necessities.
Pension funds and annuities will default; the FDIC won’t be able to cover losses; credit card defaults will rise dramatically; the government won’t be able to maintain most programs at anywhere near current levels, let alone at those that the Obamessiah and his fellow Socialists want. Imagine what will happen in our cities when large numbers are unemployed, and benefits are cut.
If/when the stock market crashes down to 30%-50% of its current level (whether all at once or in a long, slow bleed), ALL companies and ALL governments with significant portions of their defined benefit plan assets in the markets will be DEAD BROKE.
Government debt costs will ramp up, since Uncle will either have to pay a lot more for private investors and other nations to fund the huge deficits, or Bernanke will start pumping trillions into the economy and bonds will crash (causing yields to spike) to protect any investors from inflation.
Yeah, its a bunch of doom and gloom - but we are really screwed. Our only solace is that most of the rest of the world is far worse off, and will get gang raped and left on the side of the road for dead.
Uh—when is it exactly do that you think he will be out of office? There is no viable opposition party to The Marxist Onada and the demrats in this country today.
How will he be unseated pray tell?