Posted on 12/28/2012 3:09:04 AM PST by Olog-hai
The U.S. economy faces a recession if the nation goes off the fiscal cliff and key tax cuts fully expire at the end of this year, said Wilbur Ross, chairman and CEO of WL Ross and Co.
And, in the wake of news the U.S. will hit its debt limit earlier than expected, the billionaire financier warned that the United States could soon face its own “Greek” style debt situation.
Failure to stop automatic tax increases set for Jan. 1 “would obviously have a big negative effect on disposable income and consequently, I believe would put us back into the recession when coupled with the spending cuts that are also part of it," Ross told Newsmax TV in an exclusive interview Thursday. …
(Excerpt) Read more at moneynews.com ...
In contrast, the U.S. economy faces an even more severe recession if the government fails to massively cut federal spending, an almost certain outcome regardless of congressional negotiations.
We have to slow down the growth of Government money supporting deadbeat Americans.
I know it’s how the Democrats keep getting re-elected, but it’s way past the tipping point.
I think the term he’s looking for is depression, bone crushing, soul destroying, burn the city down depression.
“We are very keen on shale gas. We have been for quite some time. I think it’s the one thing that could transform the economy, and the great thing about it is it doesn’t need any federal money. All it needs is the federal people not to over-regulate and let it flourish.”
That’s a pretty big IF.
We have to deal with the parasite class. The sooner we say "No!" the better. There are far too many people living off the rest of us. It has to end.
deadbeat Americans
We have to deal with the parasite class. The sooner we say “No!” the better. There are far too many people living off the rest of us. It has to end.
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Wylbur Ross is HUGE in this battle , he is one of Rush Limbaughs neighbors down in Palm Beach and Rush’s advisor on economic matters ... what he thinks Rush repeats ,, unfortunately Wylbur Ross is A PARASITE himself ,, living off of the corrupt leftovers from the Wall Street looters that corrupted the land title system in America ... he claims to own hundreds of thousands of mortgages through his purchase of servicer AHMSI and Option One assetts ,, but what he really owns is uncollectible receivables on what were once mortgages but are now UNSECURED debts to an unknown principal.
Wylbur Ross’s company AHMSI had a lawsuit in Dallas TX against their partner in crime , LPS over LPS’s DocX division creating (at AHMSI’s request) forgeries of colatteral files used to steal houses from people ... Their claim was that the forgeries weren’t high enough quality to fool ALL the Judges...
HEY ROSS ... SUE ME!
People , you’ve got to wake up and see the rats for what they are. We are all being played and it will take a large percentage of us to finally get this country repaired and the rule of law restored.
Wilbur is a crony capitalist and part of the problem. He buys companies, strips their good assets, takes them through bankruptcy, sticks the government with the pension plan in bankruptcy, then offshores the production. He is a vulture capitalist, not a long term investor creating economic prosperity.
Ross is on CNBC speaking in defense of the mortgage fraud schemes. (wasn’t he involved with BofA?)
Yes he is wealthy, but for the crony capitalist protection he recieves he would be doing a perp walk based on opinions from watching him on cnbc.
Thanks! I appreciate the info on Ross. He’s another pig at our trough.
Thanks! I appreciate the info on Ross. He’s another pig at our trough.
Agreed. Continuing to use the word recession is insane. We are headed for an economic collapse and a depression that will make 1932 look like a cakewalk.
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