Carlin: Wall Street Owns Washington

A Storm Is Coming: Obama Formerly Orders ‘Deeply Destructive’ Cuts As We’re Heading Toward A Japanese-Style Depression. Peter Schiff: Obama Won’t Finish His Second Term Without The Bottom Dropping Out.


March Madness: Obama Formerly Orders ‘Deeply Destructive’ Cuts

President Barack Obama formally ordered broad cuts in government spending on Friday night after he and congressional Republicans failed to reach a deal to avert automatic reductions that could dampen economic growth and curb military readiness.

As the United States staggered into another fiscal crisis, the White House predicted that the spending cuts triggered by the inability of Obama and lawmakers to forge a broader deficit-reduction agreement would be “deeply destructive” to the nation’s economic and national security.

“Not everyone will feel the pain of these cuts right away. The pain, though, will be real. Beginning this week, many middle-class families will have their lives disrupted in significant ways,” Obama told journalists after his meeting with Republican and Democratic congressional leaders.

President Obama signs order forcing $85B in spending cuts as leaders FAIL to compromise on replacement plan

Peter Schiff: Obama Won’t Finish his Second Term Without the Bottom Dropping Out.

 

The Downward Spiral – azizonomics

….

Instead, we should probably look to Japan where the economy has remained depressed and weak for the past twenty years, and where government debt has through cycles of stimulus and austerity replaced the private deleveraging. Perhaps Japan is an extreme example, and perhaps its demographic woes have prolonged its malaise. Perhaps that means that once the United States private debt level shrinks to a more sustainable level, the United States will enjoy solid new growth, rather than continued depression. Perhaps a new technological or energy revolution will result in falling energy and transport costs, providing America with a new growth engine for the next twenty years. Perhaps we can look at the low interest rate environment as an opportunity to invest in transport infrastructure, energy infrastructure and basic research and create a backbone for the post-depressionary economy. On the other hand, perhaps a new crisis — and one that won’t go away just by throwing money at it, like a natural disaster, or a war — will suck America into an even deeper depression.

I am more optimistic than I was five years ago, or even one year ago. I can see a light at the end of the tunnel, but is still possible that this crisis may end in war or total systemic failure.

In the long run, the data is clear. The Greenspan-Bernanke era Federal Reserve wilfully built up bubbles and distortions, which grew out of control, and sucked the economy into a black hole. At the very best, this has led to a Japanese-style depression.

ZIMMERMAN: Every Indicator I Follow Shows The Market Is Going To Tank, And There Will Be A New Financial Crisis

Transportation ETF (IYT) about to fall at least 25% in value and take S&P 500 with it?


  • Bimbam

    What can I say? You have an illegal immigrant running the country. Ever see countries that they came from? America is beginning to look like that too. That is why God said not to put in a foreign born immigrant as your ruler.

    But what do you do? You put in a foreigner as your king. Remember they don’t like you. They are envious and jealous of your success and blessings and will BRING IT DOWN laughing inside all the way till you here the THUD!

    • Juanisaac

      Are you sure? These guys can’t even vote or make campaign conrtibutions. It’s the corporations, I say. NO loyalty to anyone but themselves.

    • Shady days are here.

      Great comment….

  • http://www.thebackyardprovider.com/ Michael Patrick McCarty

    Say it ain’t so, but I know down to my toes that everything said here is true and the bottom will fall out soon.The fix is in – the set up almost complete. I even heard an economic pundit on one of the major false news stations that everything is just rosy. But the end game is..well, the end. I wish it were not so, but I wish for a lot of other things too. All I can say is hold on for all you are worth, because none of us will be worth much if they have our way with us. The past few years have been nothing but a warm up, and I, like you perhaps, did not think I would see such an effective and engineered financial collapse in my lifetime.

  • http://www.facebook.com/btickner1 Brenda Tickner

    I say the Federal reserve, “meaning the greedy individuals who get big slices of cake even when they have nothing more to do with current seats in house, they still living LARGE, and the citizens, THAT ACTUALLY WORK THEIR HANDS TO THE BONE, are living in poverty and are threatened with their social security cuts. We also have the piddle poo media reporting of all of aftermath to the programmed citizens, tossing it it out for public respect , and dollar bills. It’s all about who you know, and how souless many people can be to the dark age monsters back for more cosmic destruction, lol what an epic sci fi horror film we truly live in.