Always remember what got us into this recession!
By Daniel at 18 August, 2009, 9:49 am
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In every country, economy, or marketplace there comes a point when future earnings simply cannot sustain past consumption. There are many in this country that are using their current earnings to pay the interest and principal on past borrowings. The average American family cannot spend more than they bring in without eventually going bankrupt. I wonder how long the federal government will keep up the socialistic-narcissistic-ego stroking model before admitting they are bankrupt? The government wants the people to believe that excessive borrowing leads to prosperity, nothing could be further from the truth. We have the mentality that we can charge everything on credit and pay for it later it’s one of the main reasons why we are in this recession: TOO MUCH DEBT. Too many people were coned or just stupid enough to buy homes they knew they could never afford. Now we have more than 15.2 million U.S. mortgages with negative equity. With the smart American consumer paying down outstanding debt and deleveraging we cannot have a quick recovery.
America can also not afford a jobless recovery. Job stagnation is a recipe for all sorts of bad things at the local, state and national levels. The fact that the private sector has added virtually no jobs in over a 10-year period is very troubling. Government is only getting bigger; we will just have more government bureaucrats controlling the people. Add to that a reckless a Federal Reserve (who should be audited) with a monopoly over the money supply, an idiot/tax cheat for Treasury Secretary and con artist king Goldman Sachs you have a very big problem. The members of congress claim they have all the answers to our problems but many in congress are full of themselves and clueless. So I have to say again if CON is the opposite of PRO then Congress must be opposite of Progress.
ImpendingDoom
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