In my previous articles Financial Crisis: It’s Not Over Until It’s Over and More on the Great Financial Disaster of 2010, I’ve predicted 2010 being an interesting year that would go down in history as the year when the world we have known since the industrial revolution finally bursts its tires. We are already seeing pigs fly (these “pigs”, of course, being Portugal, Ireland, Greece and Spain). Italian finances have also been questioned recently. I doubt that Germany, France and Great Britain can bail out the rest of Europe.
Don’t forget that Eastern European countries are likely to be the next pigs to fly.
What’s in it for us?
As European Union falls on its face and euro devalues to almost nothing, American exports would stall, American manufacturing would dwindle to its lowest yet, American corporations would run to hire the best and the cheapest labor force on the planet (that would be the European one), and we here are going to struggle with unemployment of such proportions that 10% would seem like a reasonable figure.
We are already seeing enormous inflation when it comes to basic staples of life (rent, food, transit and all kinds of insurance costs went up significantly in the past 2 years). At the same time we are seeing deflation of real estate, clothing, furniture, electronics and luxury goods. These trends are likely to continue.
I really feel for Obama Administration and sincerely pray for them every day. This administration inherited the crisises created by the previous administration. These crisises are as grave as they come.
On top of it, the people who created these problems are trying to undermine Obama at every turn – just because he is not a republican.
Bill Clinton had to endure the republican ire too, and for the same reason – he was not a republican. Remember the impeachment debacle? That was the time when I stopped watching my soap operas and turned to politics for entertainment.
What tickled me the most then was how easily Larry Flint succeeded in outing the sins of the stone throwers. Do you remember how many republicans had to resign because of their extra marital indiscretions?
The republicans did not succeed then either because Clintons bit back or because they realized that they may loose all their leaders to Flint’s private investigators.
They have succeeded though by manipulating elections of 2000. Not many know the true story behind Bush Jr.’s victory.
The story goes like this: Bush the elder brother (the governor of Florida at that time) managed to eliminate thousands of voters from the list under suspicion that they were felons. The great majority of suddenly eliminated voters (who had no idea they were eliminated) were not felons. They were simply democrats.
Then that Bush places a call to the anchor of Fox news in the middle of vote count and tells him that Bush Jr. won in Florida long before all the Floridian votes were in. That anchor calls the vote. Dan Rather, dismayed that someone else got the results before him, immediately follows the suit, and the rest of TV anchors follow him.
The rest is well known.
Bush Jr. ascends to the throne and immediately proceeds to damage his country.
His first blunder: NEGLIGENCE THAT BORDERS ON THE TREASON. He had the report about the imminent attack by Al Qaida and sat on it. Now I pass by the hole in the ground where the WTC once was almost every day and it’s still hurts.
His second blunder: destroying Iraq and millions of American families, whose loved ones went to serve his whims. Some people thought he did it for oil. But he was too stupid to see that far. I’m certain he did it to show his daddy that he could do better.
To me, that’s treason. But democrats, spineless without Clintons, thought better of impeaching him and suing him as a war criminal that he was.
In a sense, their meekness enabled him to put everything in place in order to destroy global economy. Actually, he did not do it. He did nothing, and allowed his fellow republicans to deregulate all they could and for their greed to take over.
America voted for him in 2004, because people were running scared of terrorism and wanted guys toting guns in the helm. They did not trust John Kerry, a decorated Vietnam war hero, to tote the gun at spooky Arabs, because they believed the “swift boat” ads and mistook his dignified silence for weakness.
Instead, they voted for a guy, whose family was tight with those Arabs, and who lied and bought out of the service to his country during that long bad war.
Perhaps, because next to him stood big dick Cheney known for shooting ducks and people.
So republicans under his banner went ahead and destroyed the world.
They could hardly believe that they lost to Obama (THE BLACK GUY?!). They worked so hard to take Hillary out, so their man would take on the reins. They could never imagine a black guy becoming a president, so they did not bother to “swift boat” him.
They were so sure of themselves, that they gave their man Sarah Palin as a running mate.
Of course, it could have been that they secretly hated McCain too – after all, he had some friends on the other side of the isle.
So these Egotistical Vicious Ignorant Liars republicans miscalculated and got Obama + democratic congress.
And the only thing they can do now is preventing Obama to do anything he tries.
Of course, they also try to “swift boat” him in the most underhanded manner.
This is what I’ve received recently as a comment to one of my posts:
I also appreciate your work Ella and I too thought Obama was a great man in a time of peril, however I just watched a documentary called “XXXXXX”-(my editing), which I highly recommend, and it opened my eyes to the facts. Obama is worse than Bush as he has reached celebrity status and capured the hearts of millions of people but is just another puppet committing treason. I am not trying to slander anyone and again would like to praise your work Ella but think that the people NEED to know the facts of what is happening to the Government.
I bet, many people received something like this in e-mail or as a “comment”. This must be Republican way of making their disinformation “viral”.
Just recently, they tried to put Obama’s citizenship in doubt. Now they keep telling us that the stimulus did not work (well, my business is better because it DID WORKED)
Next it is going to be a rumor that he eats little white children for breakfast.
Poor Obama: he needs to fix the dirtiest mess on the planet with his hands tied by republican obstructionism and with “swift boat” mud all over his face.
So I am praying for him to succeed nonetheless, because I live in this mess and I need him to get me out of it. Don’t you?
By the way, historically (at least for the last 100 years or so), the republican administrations have lead our nation into wars and huge deficits, while democratic ones have brought us peace, prosperity and reduction in deficits.
Posts Tagged ‘Bush’
IT’S THE ECONOMY, STUPID!
Posted by Ella Moss on September 15, 2008
In this post, I am going to deviate a bit from the main theme of the blog in order to put in my 2 cents as to what is going on this Monday, 9/15 – which is surely to become a historic date with Lehman Brothers declaring bankruptcy, AIG struggling to hold on and begging for government to save it, and Merryl Lynch being bought out by surely overextended Bank of America that just gobbled up Country-Wide and another bank.
This is American economy tearing up at the seam.
In fact, it is in the contracting stage that may take us into black hole of true depression.
It goes like this:
Fuel + Energy go up -> food + other consumer goods go up -> discretionary income goes down -> affluent consumer dependent businesses go down -> unemployment rises -> discretionary + necessary income evaporate -> housing market that is undergoing righteous correction dips further -> more banks go down -> credit tightens further ->new ventures and investment in start ups go down ->market stagnates at the bottom
Is there a way out? GOVERNMENT MUST STEP IN to reverse this chain of events, but not by bailing out greedy investors or by expanding social welfare system.
When businesses begin to fail and unemployment rises, the government should increase its payroll and spend on infrastructure, and energy R & D. Then unemployment goes down -> discretional spending goes up -> more business thrive -> more people are employed -> more $ for everyone.
None of presidential candidates talk about the U.S.’ failing infrastructure. In fact McCain wants to rein in the government spending. THIS IS NOT THE TIME TO DO IT. Let our deficit grow, let us borrow money to keep the economy going, or the big U.S.A. can also become bankrupt. THIS IS VERY POSSIBLE!
In fact, as an astrologer, I certainly look at 2010 – 2011 as the time of economic earthquake of huge magnitude in this country.
I have business education, and have been in business all my adult life. My common sense and my experience both say that tightening of credit during economic downturn is the recipe for disaster.
One fact is particularly scary: McCain’s main adviser on economy is the mastermind of chopped up and repackaged mortgages – the investment instrument of “financial destruction” that got our economy into hot water in the first place.
Even though I stand by my prediction that McCain is going to be our next president, I do not favor him. He is planning to continue the Republican party economic policies, which, essentially boil down to trickle-down-economics theory.
This theory does not work because in reality it works like this:
With global markets and labor pools wide open, outsourcing lowers the wages ->the middle class and poor grow poorer -> the pool of unemployed and desperate rises -> more people would take low paying hard jobs ->the rich may lower the wages and demand more-> the rich grow richer -> the poor grows poorer.
If you don’t believe it, go back to history books: that’s how it has been throughout history, which has always had trickle-down economy. The middle class rose to empowering numbers in this country during the middle of the twentieth century only, and only thanks to FDR’s policies set to end depression – which was exactly what I advocate: spending government money, lowering credit and putting people to work.
Obama does not have the right solutions to problems of American economy either. But, at least, he is planning on spending. He also wants to tax the rich, while bringing welcome relieve to the middle class.
I don’t know how about you, guys, but I am voting for Obama as for lesser evil!
P.S. Hail to the Chief! After 8 years of stripping the country of much of its democracy, getting us involved in the war on 2 fronts, ruining economy by allowing unprecedented speculation in real estate mortgages, he now refuses AIG the bridge loan it needs to survive. AIG’s demise would send such ripples through the world economy, that would send American economy over the tipping point. SOS!
P.P.S. 9/16
Well, here we go: McCain just announced that he would create a special commission that would study the current financial problems. As we don’t know what got us into the hole. But it would certainly create another 2 years of government inaction. By that time, we all are going to be in the poor house, because McCain also thinks that AIG is expendable (just when they finally found a semblance of a brain in the White House and are considering helping AIG to stay afloat).
The reason we all are heading into the poor house once AIG sinks is because it insures and underwrites many, many other banks and such entities as NY state and NYC!…
And, just think, I have once considered voting for McCain! Shame on me for giving Bush the Third a benefit of a doubt…
Honestly, I don’t think this country’s economic infrastructure could take another 4 years of no brains at the top…
P.P.P.S
So the White House has borrowed the brains and lent AIG staggering amount of $$$. It also looks at owning 80% of AIG. So it would become insurance Fanny or Freddy… And then, maybe, it would be able to pay its debt to China
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Posted in Uncategorized | Tagged: AIG, banking crisis, banks, Bush, deficit, economy, economy solutions, McCain, Obama, politics, taxes, trickle-down economics, unemployment, war | 4 Comments »

