For historical perspective, 1981 was far worse in a literal meltdown of the United States economy.
All of this is frustrating as apparently all of the children featuring stories posted here and making comments were too young to remember what a real depression was like in the final Carter years and how bad it was in the first 2 years of Ronald Reagan.
I can remember lecturing some "old people" who were 50 at the time as a teenager about giving Reagan a chance as they were spouting a great deal of the same nonsense appearing on Newbusters in forums.
Ronald Reagan just did not happen. It was one horrendous fight every single day from 1979 to his re election in 1984. 1981 was the the worst of it economically as his trickle down economics had not yet engaged along with the tax cuts and people were really scared.
FEAR, is not happening now, so don't even try to go there with statements like that. Farmers were marching on Washington DC in convoys, Federal Police were called out during the Carter years. Farmers actually disarmed one police officer on television.
That is meltdown as Billy Joel wrote Allentown. This whole country was going down the tubes literally then. So for those people who are doing a great deal of idiotic talk or propaganda in talking meltdown, this is not even a recession.
I have explained this is a CONSTRICTION. That means a tightening of money supply. EVERYTHING was over priced in this world and there was far too much money floating around. The stock markets were over priced and too many bad loans were floated in the west for the simple reason of soaking up money Bush 43 had printed to stop the Clinton recession from becoming a global depression.
Nation rapist Warren Buffett informed Charlie Rose this mess could be cleaned up in 6 months which astonished Rose. I said the same thing a year ago. That is the fact in this is a looting of the economy and nothing more.
All this is is a over tier economy which the financiers run being milked for several trillion dollars. For those ignorant people who after the dotcom engineered bust didn't learn your lesson and had your retirement still in Wall Street bogus investments, too bad you lost $2 trillion and Warren Buffet and his cronies gained $2 trillion.
If you are that stupid you shouldn't have that money as you don't know how to handle it.
How many times did Rush Limbaugh tell you people what Ross Perot did? What does Rush do with his money? Gee Perot put it into tax free municipal bonds. That is a great retirement venue and it also means you are building your community.
There are no excuses for having your retirement funds in places they should not be, because Obama's people are going to steal them every time to get him elected just like they did with Bill Clinton.
John McCain does have a fix with Martin Feldman of Harvard. I informed Mr. Feldman that there must be a building cycle in this in grants to homeowners for national security to create a building boom of 5 years to get the economy moving.
By that time Mr. McCain is focusing on nuclear power plants to provide a 10 year bubble which is fine as long as they are Americans employed and not border busters.
Obama's plan is to focus money into the select few making them all billionaires and charging you a fortune for electricity you can not afford.
So get the terms right by reviewing the exact history as this is a constriction and a simple looting of retirement funds to make people more dependent on the government which is termed communism, and then the whiners to keep the handouts people who work are giving them, keep electing Marxists like Obama to office in Robert Mugabe forever el presidente.
If you have taken my advice and paid your bills off which I have been warning since 2002, (hey if Lyndon LaRouche saw this coming years ago, there is no excuse for anyone not seeing this constriction coming as it has been posted all over the internet.), you have the ability to keep yourself warm this winter and a few loaded firearms with a pantry filled with things like flour, you are going to be just fine.
Keep your cash as they are lowering interest rates in banks around the world to flush that cash out of banks and the stock market into Buffett's greedy big paws and simply trust in God, vote for McCain Palin and it will be ok.
As I have stated, when the bad times come you are going to know they are bad times. People who lived in 1930 knew it and people who actually had to endure the Carter years knew it. This is nothing, but when the bad times come you will know it and not have to have a discussion about what is and what is not.
God bless
agtG
