We have been hearing a lot about escaping the fiscal cliff, but our problem isn’t solved. The fixes to date have been partial and temporary. There are many painful decisions ahead. Based on what I can see, the most likely outcome is that the US economy will enter a severe recession by the end of 2013.
My expectation is that credit markets are likely see increased defaults, as workers find their wages squeezed by higher Social Security taxes, and as government programs are cut back. Credit is likely to decrease in availability and become higher-priced. It is quite possible that credit problems will adversely affect the international trade system. Stock markets will tend to perform poorly. The Federal Reserve will try to intervene in credit markets, but if the US government is one of the defaulters (at least temporarily), it may not be able to completely fix the situation....
The second link Jim posted is pretty wild. They lost me when they started trying to compare W. Bush with serial killer Ted Bundy.
Nevertheless, I begin to understand now why Jim hates W. Bush so much. You are what you read. Stay away from that stuff if you know what's good for you.
Jim Lincoln wrote: C000, you might find this enlightening.
Why should he be enlightened, when you fail to point out which Obama myth he is repeating?
Jim Lincoln wrote: I would have been much more defensive in my assets if I had thought more about The Record of Republican Corruption.
Perhaps failure to heed James 4:13-14, not Repub misrule, was your real problem. But even worse, you accuse other people of greed for doing the same thing you did — seeking financial gain.
I'm glad these fellows can predict the economy. I know one thing I would have been much more defensive in my assets if I had thought more about The Record of Republican Corruption.
I'm not a fan of politics so I don't know much, but I'd say we could start by stopping the forgiveness of billions to other countries and we could also stop sending multiple billions to other countries. I'm all for helping anyone in need, but they are countries with their own resources. I'm also against sending billions of taxpayer money to countries just so they will agree not to fight and be good...silly. They always take our money and then forget about the promises made. The OBamas have used around 11 million of taxpayer money for their family vacations so far, and what about all of the lavish vacations, dinners, etc, on the taxpayer dime that the Senators and Congressmen abuse daily? When did government become glamorous and the it crowd? When did we start working for them to the point where nothing we say matters? I'm also against pork barrell spending, lobbiests, and the purchase of the Presidency, Senate seats, etc...ha-ha...oh well...I can dream. Oh, and where are the UN members...what's their role anyway?
Dr. Alan Cairns | 3/9/2009
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