From today's AOL,

http://www.huffingtonpost.com/robert-reich/the-truth-about-the-econo_b_842998.html
the story that the gov't and most of the media doesn't want to admit, from,Robert Reich,Fmr. Secretary of Labor;
The Economic Truth That Nobody Will Admit: We're Heading Back Toward a Double-Dip

Hate to say it, but I don't see any way we're gonna avoid it. The only questions are, how soon, how bad and how long will it last? The truth is, many people never got over the train wreck that was the GWBush disaster. Consumer confidence is way down and getting worse, gas prices are up and housing prices are down, with no end in sight. The only reason employment numbers aren't WAY worse is because so many people have given up, and the crazy way the gov't tabulates it. For a large part of the population, there hasn't been a problem, and won't be, BUT, for millions of people, it's a mess that's just getting worse. You can't run a gov't with a diminishing tax base and an expanding number of people depending on it. Not when we're SO deep in debt and getting worse. Bush obviously didn't cause it by himself, but I can't think of anyone who did anywhere close to as much damage. For those who are prepared, it should be interesting. For the rest, it will be downright scary.  Buckle up, it's gonna be a rough ride. As Robert Reich says, 'I'm sorry to have to tell you the bad news, but it's better you know.'

Comments

ladyj said…
Not to burst your Bush bubble, but I will tell you this: back in 1988, by executive order, then President Ronald Reagan created what has been referred to as "The Plunge Protection Team", or sometimes "The Four Dictators". The group includes the heads of the Federal Reserve, The U.S. Teasury, the US Securities and Exchange Commission, and the US Commodity Futures Trading Commission. The committee functions to intercede when the stock market appears headed for a plunge. 3 times the team has been called in to execute a rescue since Sept 11, 2001; 1-2008, 10-2008 and 5-2010. The massive stock market rally is mostly due to secret government buying of stock-index futures. The PPT is simply more power and wealth consolidated in the hands of a few. Since the president selects the four people, it is essentially power consolidated in one man.
3:09 PM
Fam Guy said…
Why would that burst my Bush bubble? He was the captain of the Titanic when it hit the iceburg.
3:46 PM
ladyj said…
Look at the dates..........When was Obama elected?
6:04 PM
Fam Guy said…
We're not on the same page, here.
9:36 AM
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