The real state of the economy
55Down the endless rat hole
Todays news tells us thet we are now 68 trillion dollars in debt. And it gets worse each day. Though the daily number for maintaining this debt has not been released, it must be staggering and certainly a testament to gross mismanagement probably not seen in the world thus far. To say that the powers that be have destroyed the worlds greatest economic experiment the world has ever seen is an understatement. We are losing 6,000 jobs a day, and the president tells his cabinet to keep up the good work. Unemployment statistics are useless, even before the bubble burst, the number of people that just flat out quit looking for work( that never show in the stats) is un-countable. Every where you look storefronts are vacant. Entry level positions in the auto industry, that were once the grand entrance to the middle class, are paying $14 an hour, half of what they used to. the production side of our economy has basically vanished into thin air. One in eight homeowners are now in jeopardy of falling behind or are behind on their mortgages, and the foreclosure rates continue to rise. While economists say the recession is ending, they are at a loss to predict the disaster the coming inflation rate is going to cause. We are, as far as the eye can see, screwed. So, where are the miracle results or prospects for results that all our borrowing has gorten us? Banks are still failing, the credit card crunch is going to explode. The vaunted health care proposals will be dead in the water, held hostage to past mistakes. The govt wants to make it easier for you to get a college education, but will there be a job waiting for you when you graduate? And will that job be at a fast food joint or a mall somewhere? The only thing that, history shows us, when a country is that flat on it's butt, moves the production line and the economy is a big war. not the ones in iraq and afghanastan, but a total mobilization war where all gears are spinning. Is that what the future holds? There are certainly enough world events to point in that direction. A very bleak future indeed. If there are to be any show trials in this country, they should not be about some perceived torture, but of the economic criminals that have run us blindly down this road. So far all have walked away scot free. And the best place to start would be with the liars and crooks in our congress that closed their eyes to the coming disaster. Time we decided to follow the old 'crime don't pay" rule and get the ship headed in the right direction. Career politicians be damned.
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someonewhoknows says:
7 months ago
I agree with the content of this blog but I think the tiitle is missing one letter.I t should read "THE REAL ESTATE OF THE ECONOMY".
The E stands for the grade we should give con-gress for the job they are have been doing about the realestate market and the bankers ,lenders,and regulators who all looked the other way as they all made money in the process of destroying a huge sector of our "Economy"