Merrill Lynch: "We're In A Recession"

[fishpoopoo]

Originally Posted by Nebe

we may be the richest country, but but the way I see it, most americans are getting poorer at every turn..higher living expenses equal smaller savings. The president is bad and the war right now that is costing us billions of dollars daily is all based on a series of fabricated lies to coerce americans by scare tactics that we had to go in there.. The contracors and corperations who are making those billions of dollars are mighty happy. Durring the years that Bush has served in office each and every american citizen has been givin aprox 30,000 in national debt, while he slashed taxes to the rich..

yeah, Id say things suck right now. The people that i notice who are saying things are good are 'the rich', 'the religious' and frankly 'the ignorant'

I knew this country was screwed when i watched Bush give a talk to a Ford assembly plant full of workers. he was quesitoned why america was so pro-active on exporting manufacturing to china and Bush piped up saying he was 'working on that' and that it is clear that 'we have to make it better to 'do business in america'. The whole plant went wild with applause.. these people were aplauding the very reason that they are loosing thier jobs.. doing business better means higher profits and higher profits mean finding the cheaper labor.. China.

ugg.

but's it's not all bush's fault. globalization was well under way before bush took office. remember what bill clinton said about china while he was in office?

yes, fault the current president for ballooning gov't spending (iraq war, letting pork slip through, cutting taxes at a bad time).

but we have to fault ourselves if we choose to buy plasma t.v.'s made in china on our friggin credit cards.

i blame a lot of our current situation on alan greenspan, who, by printing money by the f*ckload, encouraged an economy based on consumer consumption and asset inflation, as opposed to one that should focus more on savings and capital investment.

i feel sorry for the current fed chairman ben bernanke. if he chooses to be courageous and raise interest rates (that is, cut the money supply), he guarantees a steep recession, maybe even a depression. if he continues to have an easy money policy, the dollar continues to decline, and inflation runs away. short term, stagflation. longer term, corrosive deflation.

i feel sorry for the next president who has to lead a country in this muck. he'll get the blame, even though alan greenspan and the american consumer deserves most of it.