The good news is that bad news has lost its shock value. Eye-popping job loss figures caused the Dow to be down only about 3%. If investors hadn't inured by the parade of bad news for the last four months, the drop would have been blood-curdling.
Even the Fed's forecast of worse to come until the third-quarter of 2010 didn't cause anyone to jump out of a window, although Germany's richest man did commit suicide the night before. Of course, he might have been better informed than the average-Joe. Investor suicides could start to mount as the argot of the super rich becomes generally understood.
The prediction of a $1.2 TRILLION deficit should have caused mass defibrillation but what's a TRILLION DOLLARS anymore? And if anyone thinks that it will be ONLY $1.2 TRILLION, I have a nice bridge I would like to sell.
The predicted deficit increases per capita debt by $4000. Obama has promised a series of crippling deficits AND he says his stimulus programs won't stop these deficits. WHAT WILL?
TOTAL COLLAPSE OF THE DOLLAR!
Obama may be the last president of a free United States of America. I believe he was chosen by the same people who have their hands up the tuchas of George Soros, a man too stupid to be what he pretends to be.
If there is any hope to save the USA, it lies in the Republicans not acceding to ANY of the Democrat foolishness masquerading as economic policy. After the collapse, voters must be able to look to Republicans as trustworthy and sane. If the Republicans go along with the usurper and the lunatics, Americans will trust no one and we will have full-scale insurrection on our hands. And we will deserve it.
Please stand up and call your reps, Dems or Republicans, and implore them not to support the insanity of spending ourselves out of debt and taxing ourselves into prosperity.
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