Tuesday, July 14, 2009

The Economy Is Even Worse
Than You Think

by Mortimer Zuckerman - July 14th, 2009 - Wall Street Journal

The recent unemployment numbers have undermined confidence that we might be nearing the bottom of the recession. What we can see on the surface is disconcerting enough, but the inside numbers are just as bad.

The Bureau of Labor Statistics preliminary estimate for job losses for June is 467,000, which means 7.2 million people have lost their jobs since the start of the recession. The cumulative job losses over the last six months have been greater than for any other half year period since World War II, including the military demobilization after the war. The job losses are also now equal to the net job gains over the previous nine years, making this the only recession since the Great Depression to wipe out all job growth from the previous expansion.

Here are 10 reasons we are in even more trouble than the 9.5% unemployment rate indicates:

This is an important article by an objective writer and I highly recommend you read his 10 reasons. The itemization of our problems is depressing... and I was already depressed enough. It is not just that Obama has headed our nation into a huge depression. The real crisis is that nothing is being done at a time when the needed fixes for the depression take years to have an effect. Instead moderate Democrats are scrambling to create votes on some issues like cap-and-tax and health-care that will save them from being thrown out of office in 2010, when the only chance for our nation's salvation is for a wholesale repudiation of the socialist gibberish which they have already embraced in earlier votes.

In addition, we have a huge number in the Republican Party who defend George W. Bush like he is Jesus Christ. When he is wrong, his mistakes are blamed on our Party, even though the majority of the Party opposes his actions. The first Democrat Congress led stimulus in early 2008, became a Republican stimulus when George embraced it. The first minor bank bailout, when Bear Sterns was protected from bankruptcy by forcing the merger with J.P. Morgan, should never have happened. Since it was on Bush's watch it is a Republican failure. Lehman Brothers stunned the markets proving you can't accuse George of being consistent. The even bigger bailout last fall was another catastrophe blamed on Republicans when it should have been blamed on Democrats. But old George W. Bush rushed in and took responsibility, dumping it in Republican laps. Thank you you inarticulate retard.

With the fraudulent census that Obama is rigging - by 2012 Republican voters will not matter. Our nation will be irrevocably fascist. The only question is whether this will be for a decade or a generation or infinity.


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