The way the economy and Congress is acting, 2013 certainly is going to see a post-election Congress kick the proverbial can off the fiscal sanity cliff. Post-election regardless of who wins the Presidential election (Obama), 2013 is going to be even uglier than now.
To kick the can even closer to the fiscal cliff to delay for a short period, the Federal Reserve will have few options, other than do quantitative easing, part III. (QE3).
Other sources report of the wrong direction of ObamaEconomics. See http://www.forbes.com/sites/peterferrara/2012/01/12/the-worst-economic-recovery-since-the-great-depression/
Now to put all of this into historical perspective, see this link of all US recessions as shown below for comparison. I will leave it up to the reader to place proper perspective on which recession we are historically close to right now.
The link also states historically what happened to get into and out of that recession/depression. So both links give us a good perspective based on history.
http://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States
Subsequently, when QE3 fails to cause any sustainable economic recovery just like the first two parts, the only option remaining will be the Federal Reserve raising interest rates, finally. Which is what should have happened quite a few years ago.
Due to ObamaEconomics and his creepy theories and putting effect socialism by mandate backed by Chief Justice Roberts betrayal, plus raising all kind of federal taxes to pay for for it, QE3 is way too late fiscally as the federal government goes deeper and deeper into federal debt. Spending federally has never worked before, nor will it work now regardless of how wrong Keynes was with distorted economic theories.
What has worked during domestic recessions to do an economic recovery is crank up the war machine engine. Which is what we have done as a nation over and over, making us few friends internationally. Which sadly may eventually happen due to defaults and trade wars by countries like Europe and we will sadly call that kind of option, simply WWIII.
When interest rates do finally rise domestically, then there will be a major depression as the stock market collapses along with hyper-inflation and austerity measures coupled with higher taxes at all levels of government are put into effect. So, there is certainly going to be a lot of civil protests, that will only result in our governments forcing upon the rest of us, a police state when most of us realize creeping socialism here in America is about as un-American as we can get.
So the bottom line here is we are heading for the perfect storm effect-major economic depression, austerity and hyper-inflation domestically. While globally, there will be a global depression in many industrialized countries. For example, notice the ridiculus prices of groceries lately? Are you tired of eating chicken like I am?
No big deal. Many of us can get better when it comes to dealing with poverty. Dealing with the upcoming austerity followed by a police-state will be a lot harder as more people join the poverty class as the middle class slowly evaporates losing their homes and jobs; leaving the elites in charge of everything as they rape the rest of us for a while.
Clearly, the direction we are heading, the only safe jobs are working for a government bureaucracy that will do everything to maintain itself. City governments taking bankruptcy is merely another warning sign things are getting worse. Soon, that will be following by states taking bankruptcy and ultimately, at a federal level.
Naturally, all this doom and gloom is not all going to happen all in 2013. Politicans will drag it out as long as they can keep can-kicking. Which subsequently, we the people will throw more politicians over the cliff also. This scenario will take several years. But 2013 is when most of the economic stuff gets thrown over the cliff first as stuff continues to hit the fan in your household.
To those that have already been through, or already in the poverty class, they already know how to survive and understand peace of mind is still possible by gratitude for simple things; while sadly having empathy as all these newbies join them. While the few elites most favorite line will be the French classic, "let them eat cake". Most of us remember how that turned out.
Out of that muck of a perfect economic and political storm, the American spirit will slowly climb out of this muck of poverty despite a police-state to slowly rebuild our nation as we come to this realization of how important family, friends, prayer and simple pleasures are once again, as we learn to rely on each other during tough times just like what people did during the Great Depression.
Naturally, expect many politicans and the can to get kicked over the cliff. It is just a matter of when as federal, state and local politicians have few options remaining. Out of all the muck, there will be a true leader that finally inspires and unites all of us. Hopefully, around 2016.
If the Great Depression was bad, what should we call this depression? I suggest we just give it a name right now and at this juncture, I could care less what economists try to merely label what we are experiencing is only a recession and a really slow but unsustaintable recovery. So, let us merely call it what it is.
The Worst Depression.
To kick the can even closer to the fiscal cliff to delay for a short period, the Federal Reserve will have few options, other than do quantitative easing, part III. (QE3).
Other sources report of the wrong direction of ObamaEconomics. See http://www.forbes.com/sites/peterferrara/2012/01/12/the-worst-economic-recovery-since-the-great-depression/
Now to put all of this into historical perspective, see this link of all US recessions as shown below for comparison. I will leave it up to the reader to place proper perspective on which recession we are historically close to right now.
The link also states historically what happened to get into and out of that recession/depression. So both links give us a good perspective based on history.
http://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States
Subsequently, when QE3 fails to cause any sustainable economic recovery just like the first two parts, the only option remaining will be the Federal Reserve raising interest rates, finally. Which is what should have happened quite a few years ago.
Due to ObamaEconomics and his creepy theories and putting effect socialism by mandate backed by Chief Justice Roberts betrayal, plus raising all kind of federal taxes to pay for for it, QE3 is way too late fiscally as the federal government goes deeper and deeper into federal debt. Spending federally has never worked before, nor will it work now regardless of how wrong Keynes was with distorted economic theories.
What has worked during domestic recessions to do an economic recovery is crank up the war machine engine. Which is what we have done as a nation over and over, making us few friends internationally. Which sadly may eventually happen due to defaults and trade wars by countries like Europe and we will sadly call that kind of option, simply WWIII.
When interest rates do finally rise domestically, then there will be a major depression as the stock market collapses along with hyper-inflation and austerity measures coupled with higher taxes at all levels of government are put into effect. So, there is certainly going to be a lot of civil protests, that will only result in our governments forcing upon the rest of us, a police state when most of us realize creeping socialism here in America is about as un-American as we can get.
So the bottom line here is we are heading for the perfect storm effect-major economic depression, austerity and hyper-inflation domestically. While globally, there will be a global depression in many industrialized countries. For example, notice the ridiculus prices of groceries lately? Are you tired of eating chicken like I am?
No big deal. Many of us can get better when it comes to dealing with poverty. Dealing with the upcoming austerity followed by a police-state will be a lot harder as more people join the poverty class as the middle class slowly evaporates losing their homes and jobs; leaving the elites in charge of everything as they rape the rest of us for a while.
Clearly, the direction we are heading, the only safe jobs are working for a government bureaucracy that will do everything to maintain itself. City governments taking bankruptcy is merely another warning sign things are getting worse. Soon, that will be following by states taking bankruptcy and ultimately, at a federal level.
Naturally, all this doom and gloom is not all going to happen all in 2013. Politicans will drag it out as long as they can keep can-kicking. Which subsequently, we the people will throw more politicians over the cliff also. This scenario will take several years. But 2013 is when most of the economic stuff gets thrown over the cliff first as stuff continues to hit the fan in your household.
To those that have already been through, or already in the poverty class, they already know how to survive and understand peace of mind is still possible by gratitude for simple things; while sadly having empathy as all these newbies join them. While the few elites most favorite line will be the French classic, "let them eat cake". Most of us remember how that turned out.
Out of that muck of a perfect economic and political storm, the American spirit will slowly climb out of this muck of poverty despite a police-state to slowly rebuild our nation as we come to this realization of how important family, friends, prayer and simple pleasures are once again, as we learn to rely on each other during tough times just like what people did during the Great Depression.
Naturally, expect many politicans and the can to get kicked over the cliff. It is just a matter of when as federal, state and local politicians have few options remaining. Out of all the muck, there will be a true leader that finally inspires and unites all of us. Hopefully, around 2016.
If the Great Depression was bad, what should we call this depression? I suggest we just give it a name right now and at this juncture, I could care less what economists try to merely label what we are experiencing is only a recession and a really slow but unsustaintable recovery. So, let us merely call it what it is.
The Worst Depression.
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