Saturday, November 6, 2010

Regardless What You're Hearing From Obama, The Economy Is Still Really Sick

Does this sound like the economy is doing as well as the President is saying?:
  1. Banks folding faster than they have since the Savings and Loan crisis. YES, faster than at any time yet during this current recession. http://www.msnbc.msn.com/id/40034941/ns/business-economy_at_a_crossroads/
  2. Remember those "toxic investments" that sank our economy in the first place? Y'know the ones that Democrats created and pushed so hard ... sub-prime mortgages? Well, they don't like talking about it (for obvious reasons) but most of those toxic things are still out there. Foreclosures continue at a high rate. This suppresses the housing market and keeps alive the risk of a second, probably worse, recession if our unemployment remains high much longer.
  3. We retirees are suffering more than ever economically. What's left of a lifetime of savings after the stock market crash two years ago is evaporating rapidly because interest rates and, therefore, interest income are so low that we're cashing in all of our investments to live on. Soon many (most?) of us won't have any savings left. If it weren't for our savings propping up the economy you all would be in lots worse trouble. What'll you do when that's gone and you have to support us after we can no longer support ourselves? If the economy doesn't recover soon a large number of us will be dependent on you.
  4. The extraordinary debt piled up by Democrats ($6 Trillion in only four years) is about to create a devaluation of the dollar and inflation that will suppress, if not crater, our economy for years to come. Those of you in the current younger generations have never experienced either devaluation or inflaction and don't know how bad it'll get but we who are propping up the economy with our life savings remember and we know what'll happen when our savings run out.
  5. We have become a debtor nation; in fact, the biggest of all time. It thoroughly disgusts those of us who lived through world wars and other tough times because we know what that does to a country. Those of you who voted for this are about to learn it's harsh consequences. One BIG consequence is that we won't control our destiny again for a very long time. That alone has bigger consequences than you can imagine. Will we be able to afford defending ourselves for example? That's not an idle, irrational or inconsequential question.
Many of us warned about this type of economy coming from the policies of those currently in control of our government ... for only two more months, thank God. They've made a mess so big that it'll be very hard to clean up. We told you they were doing this and I guess you didn't think it was a big deal. Well, choices have consequences and the current generations that have lived so long without self-control and consequences are about to understand what that feels like because now that's unavoidable. We now have tougher choices to make than any of us want to even consider. Your worst nightmare is now a possibility, especially if we don't make the hard decisions we must make. Guess who pays even more for this than they have to date? Retirees, because we can no longer work to support ourselves, much less restore our finances that others(!) stole from us.

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