Crazy People:Recession over!

Who are these positivity nuts who are going around saying it will all be over this year?
Even the head of the Fed, Bernanke!

We will be extremely lucky if we don't have a depression late this year or next!

How on earth will all of the banks be cured with a few bucks we throw at them? Not nearly enough even for the major banks.

What about the 500,000 + jobs leaving every month? Do you really know how many aside from that will be gained by that dab of federal money? Not many this year.

What is to happen with the millions of empty home foreclosures? How about the millions of empty commercial buildings coming up soon?

Who is going to pay off the personal obligations of many--up to 50,000 dollars on credit cards and more on homes?

All of this was clear with Bush's people and also how to keep the lost war in Iraq going until Obama came in and stopped it. Obama will be blamed for "losing" it---wait and see.

Not much will improve this year or next.

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Recession over?
Submitted by Bonkers on Wed, 06/03/2009 - 6:13pm.

Depression begins!

High-priced homes now being repossesed since the government voided the "don't foreclose" regulation on the banks.
PTC could now be hurt badly.
The problem is that many here owe more than the home is worth! Sometimes not including the second morgage!
Add the credit card debt and vehicle payments to the second mortgage and there is really no way they can be helped!

They even have special accounts with balances other than M/C and Visa.

Blaming others for betting on the home price going up is no excuse for smart people. Enough un-smart people bought that one!

I suggest that they either refuse to pay their debts and move to Idaho or use (those unwanted regulations about) bankruptcy and start over.

Those that have already been paying 60-75% of their income on houses but haven't missed a payment yet, maybe should be bailed out before they also fail.

At 5-600,000 job losses per month how long does it take to get to 15-20 unemployment? About another year, plus a little.

Want to wait and see--do nothing-- or bail them all out?

I think it depends upon whether you personally expect to have enough to live on!

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Bonkers- correct, but why...
DarthDubious's picture
Submitted by DarthDubious on Wed, 02/25/2009 - 12:09pm.

do YOU want to keep a "war" going? Don't like to lose do you? What if I told you the "war" in Iraq was never meant to BE won, only SUSTAINED?

Before you answer, let's be clear about one thing: the US is not at "war" with anyone, not officially, you see, CONGRESS must DECLARE "war" for there to be a "war".

Now, I know everyone thinks Obama is going to end military action in Iraq, but I say no. The soldiers on the city streets may disappear, but the US isn't going anywhere. The Feds have put WAY too much time and money into building an embassy the size of Vatican City, not to mention FOUR Air Force bases (with barracks for THOUSANDS) the size of Ramstein in Germany. That means SOLDIERS. Lots of them.

So calm down Bonk, the military isn't leaving for a long while. The empire of the US will continue to drain our economy until we are all out hunting deer for supper. I'm sure glad I know how to hunt!

In Liberty,

DarthDubious


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Well, Darth
dawn69's picture
Submitted by dawn69 on Wed, 02/25/2009 - 1:41pm.

Well, Darth, I don't know how to hunt but I do know how to hit one with my car! Smiling


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