"This ship is built so well, GOD Himself couldn't sink it..." or " We are too big to fail..."
There are many people who believe that America will rebound from this "cyclical" economy others have no idea what is happening, and still others like myself are pretty confident that we are doomed for complete collapse!
One thing to remember is that everything is cyclical until it isn't any longer.
" Doomsdayer", people say! Can't you think of anything positive?
I thought for a moment and wondered if the people of the Titanic said the same thing, speaking with one another, when the ship began to sink.
We can deny something is happening all we want but it does not negate the fact that it will not happen. People characteristically, thoughout history, have ignored warnings from people, look at the story of Noah, probably denying the fact that it was possible, in hopes that it may not happen if we didn't believe it.
It is my opinion the continual denial, failure to take the steps to what may fix the economy, our "trustworthy congress" has decided to continue their spending spree into oblivion in full support of their unconstitutional, immoral, unlawful and irresponsible agendas without the the support of the people...we have been completely ignored! It will not stop until they are stopped!!
This continuance, my friends will be the end of our free-market capital market, secure our enslavement into communism and destroy our "free society" as we know it.
here is the latest:
US STOCKS-Signs of deepening economic woe slam Wall St at Reuters(Thu 5:59pm)
Economic Snapshot: Reasons to Be Wild About Recession at Minyanville.com(Thu 5:20pm)
Latin American Markets: Mexico, Brazil stumble as U.S. economic picture further dims at MarketWatch
US STOCKS SNAPSHOT-Wall St falls on weak data, earnings at Reuters(Thu 4:07pm)
Five Things You Need to Know: Conspiracy of Fools at Minyanville.com(Thu 2:55pm)
GLOBAL MARKETS-Shares, oil prices fall on dismal economic data at Reuters(Thu 1:12pm)
Europe shares close lower as banking rally fades at Reuters(Thu 12:53pm)
US STOCKS SNAPSHOT-Wall St tumbles on economic gloom, Boeing at Reuters(Thu 12:51pm)
US STOCKS SNAPSHOT-Wall St slips more after home sales data at Reuters(Thu 10:13am)
European shares extend losses as Wall Street falls at Reuters(Thu 9:37am)
This is in addition to the largest "pork-barrel" spending package in history.
$20 million "for the removal of small- to medium-sized fish passage barriers." (Pg. 45 of Senate Appropriations Committee report: "20,000,000 for the removal of small- to medium-sized fish passage barriers)
$400 million for STD prevention (Pg. 60 of Senate Appropriations Committee report: "CDC estimates that a proximately 19 million new STD infections occur annually in the United States ...The Committee has included $400,000,000 for testing and prevention of these conditions.")
$25 million to rehabilitate off-roading (ATV) trails (Pg. 45 of Senate Appropriations Committee report: "$25,000,000 is for recreation maintenance, especially for rehabilitation of off-road vehicle routes, and $20,000,000 is for trail maintenance and restoration")
$34 million to remodel the Department of Commerce HQ (Pg. 15 of Senate Appropriations Committee report: $34,000,000 for the Department of Commerce renovation and modernization")
$70 million to "Support Supercomputing Activities" for climate research (Pgs. 14-15 of Senate Appropriations Committee Report: $70,000,000 is directed to specifically support supercomputing activities, especially as they relate to climate research)
$150 million for honey bee insurance (Pg. 102 of Senate Appropriations Committee report: "The Secretary shall use up to $ 50,000,000 per year, and $150,000,000 in the case of 2009, from the Trust Fund to provide emergency relief to eligible producers of livestock, honey bees, and farm-raised fish to aid in the reduction of losses due to disease, adverse weather, or other conditions, such as blizzards and wildfires, as determined by the Secretary")
There is more...much more... http://www.afa.net/pdfs/porkandpayoffs.pdf
As the ship's engineer said to some " I assure you sir, She can go down and she will..."