United States Heading towards a Depression?

I know, but its really inflation that is the measure of the economy.

 

Ben Bernanke vs. Warren Buffett: Who's Right on the Economy?

Warren Buffett says that he can't see the "green shoots".

http://timesonline.typepad.com/business_central/2009/06/buffetts-eye.html

 

Let's see, one cheats on his taxes, the other is a smart investor that buys crap low and sells it high. Hmm..

 

Obama cap and trade energy plan scheduled for a vote today.

Warren Buffett says the Obama energy plan will increase the price of energy.

House Republican Leader John Boehner of Ohio called the legislation “job killing” and said it would “punish” Americans with a “ridiculous tax.”

Representative Eric Cantor of Virginia, the second-ranking House Republican, called the measure a “national energy tax” on households and small businesses. The measure would lead to “the loss of millions of jobs,” he said.

http://news.yahoo.com/s/bloomberg/20090626/pl_bloomberg/abs28ilxvszg_1

 

I'd be very surprised if it passes. Much less his socialization of health care.

 

The Democrats say that they have 218 votes and that cap and trade will pass.

The media really hasn't covered this at all considering the enormity of the legislation.

 

This is the biggest tax increase in history if it passes. Right now they are struggling to find votes. That fat pig scammer al gore and Obama and witch pelosi are working overtime to get the votes.

 

Every time Clinton, Bush, Obama, or any President signs a law...

it ALWAYS takes rights from the private citizen and gives it to the government.

I wonder if they timed this cap & trade to try and use Michael Jackson's death as temporary cover.

 

Wouldn't surprise me if Pelosi mailed the Demerol to Jackson herself.

 

Cap and trade has passed with a vote of 219-212.

Rep. John Boehner, the House Republican leader warned of unintended consequences in what he said was a "defining bill." He called it a "bureaucratic nightmare" that would cost jobs, depress real estate prices and put the government into parts of the economy where it now has no role.

Energy production costs will increase $770 per household. The actual cost may be more.

Rep. Alan Grayson, a first-term Democrat, won a pledge of support that $50 million from the proceeds of pollution permit sales in the bill would go to a proposed new hurricane research facility in his district in Orlando, Fla.

http://finance.yahoo.com/news/House-passes-major-apf-3149260005.html?x=0

 

We get the government we deserve.

We, the American people, voted for totalitarian collectivism and that's what we'll get.

In 1980, there were thirteen gas stations in Moscow. That's the kind of "change" we voted for.

A depression isn't just coming, it's being forced into place. Depressions don't just happen, they are made to happen by government officials who value control above prosperity.

Has everyone here read Great Myths of the Great Depession?

 

Good read.

 

I think we, in the UK, will beat you to it!!

 

It was a good read but it is irritating how he gives greedy bankers a pass.

Who does/did he think controls/controlled the Federal Reserve?

 

Yeah he didn't talk enough about the federal reserve and why they shouldn't be around to begin with.

 

You two should both read Debunking the Federal Reserve Conspiracy Theories.

 

Interesting fact about the Fed: The Federal Reserve rebates its net earnings to the Treasury every year. Consequently, the interest the Treasury pays to the Fed is returned, so the money borrowed from the Fed has no net interest obligation for the Treasury.

So basically the US Government can borrow unlimited funds from the Fed and not pay any interest. It's a roundabout way of printing money.

 

I heard 95% of it is taxed. So 5% does go to the fed reserve as profits.

 

Assuming they can read.

 

Statistics on the effects of the Obama $787 billion stimulus package are showing that it is a failure. So far $373 million has been spent on infrastructure. VP Joe Biden has stated so far only 150,000 jobs have been created.

It's predicated that the unemployment rate will increase 0.3% to 9.7%.

California is giving out IOUs and it doesn't look good for 2010.