Is The United States Economy on the Verge of Collapse?
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It did not take someone of genius intelligence to figure out that the war economy was devastating our economic future. One only had to realize that the billions of dollars being spent on the war effort and the national attention that it was diverting from domestic issues was bound to jeopardize national security on a note closer to home than Iraq.
Unfortunately, our esteemed leaders, mainly our blind president, refused to see the possibility of disaster until now when it could be too late to avoid a tragic depression that will make the 1929 collapse of the stock market look like a mild hiccup in the grand scheme of things. That makes me wonder how someone with an average intelligence could tell we were in trouble as soon as the national debt escalated to the trillion dollar mark while our commander in chief and his minions kept reiterating the fact that the economy was basically sound and a recession could be avoided.
I believe that their blind sightedness to the economic issues is at least in part due to their ridiculous foreign policies that have made them one of the piranhas of the modern world. Or was it that they were to weak to admit the failure of their economic policies? Well, let’s face it folks the recession is here and isn’t likely to go anywhere any time soon.
As a result of these failed policies millions will soon lose their jobs (yes, even some of you reading this article who thought your jobs were a sure thing due to longevity or whatever) as our economy is attacked by everything from high energy costs, inflation, the subprime mortgage crisis, a plummeting stock market, weak retail sales, and the decline in the housing and manufacturing markets. While we have faced and survived similar economics downturns over the years this one is sure to be one of the worst and may take years not months to recover from. Of course, Old George wants to make us think that the next president can fix his errors in a few short months but the grave he has dug us into is going to take more than a few shovels of good fortune to fix.
To be fair, however, the failure lies with all the members of both parties in Washington who have been more concerned about fighting wars, getting reelected and catering to special interest groups than in performing their best for the citizenry that elected them. It is a sad day indeed when the country stands on the precipice of a national election and the populace is faced on voting once again for the lesser of the evils that are being offered up for nomination.
Today I voted, not for who I thought would make the best presidential choice or who could actually change the downward spiral America is on but on who might do the least damage in the future. After twenty years of a Bush/Clinton White House and legislatures who have been bought by lobbyists long before they take office isn’t it time for change. I am not talking about anarchy or violent change but a change in the electoral practices that only allow rich, powerful men who have their own agendas to have the opportunity to run for national offices. It is time to give an independent without any strings attached to him by bigwig CEOs or lobbyists a chance to truly turn this country back to the roots that our Founding Fathers sacrificed their lives to give us. Remember apathy is always a precursor to destruction and Americans now seek dependence on the government by asking for more and more handouts from the treasury coffers which make us ever and ever more susceptible to dictator control. Just think about after 9/11 when Bush made maumau sounds about extending the two term limit for president and the devastation his actions that amounted to little more than those of a dictator caused.
So remember, the economy is in the hands of the American people. All that has happened has occurred under George W. Bush’s watch and he cannot simply wipe away his responsibility when another owned politician takes over his office. Like so many of America’s problems, this cold have been avoided or the impact blunted if both parties and Bush had not been asleep at the wheel and so determined to keep the warmongering spirit of revenge alive. Who do you vote for? I don’t have an answer but you must vote if you realize that this country is in trouble and you want real change.
[tags]United States economy, economy, Economic collapse, Bush Administration, Iraq War, Clinton, 9/11, lobbyists, special interest groups, retail markets, housing decline, stock market plummet, subprime mortgage crisis, energy costs, depression, national debt, foreign policy, national security[/tags]
8 Comments
GlennB
February 5th, 2008
at 9:18am
I agree things are way off track in many ways in America, but they didn’t just get that way in the last 8 (or 20) years. I am no fan of either party, because both have failed us in terms of economic policy going back decades.
You cannot live your personal life continually spending more than you earn. Eventually, credit gets cut off, and creditors expect to be paid. Failing the ability to do that, bankruptcies occur, and everybody loses. A company cannot continually operate in the red. Unless profitabilty eventually returns, corporate bankruptcies occur, and more entities lose again. As a country, we have operated in the red for so long it doesn’t seem anyone expects we will ever repay any of our national debt. Does anyone really expect this can continue without consequences?
Both parties have contributed to this mess, seemingly forever. The great majority of elected leaders (both parties) are wealthy people going into office. Why they allow themselves to think economic reality can be ignored I don’t know, but suspect at a subconscious level, they know they are financially secure so they don’t feel like pushing the fiscal accountabilty button as an elected official.
I don’t know what the national debt is, but it is in the trillions. I am not sure of the figure, but I suspect somewhere near 30% (or more) of total national revenue goes to pay interest on the debt… INTEREST ONLY… without reducing the amount owed. The instants we have had a small surplus, both parties run over each other clamoring to either find new ways to spend it, either by starting spending programs that will last for years with no idea if there will be surpluses in future years to pay them when due, or initiating tax cuts as if they are an entitlement anew. Meanwhile, we have allowed them to proliferate this unrestrained spending orgy, seemingly oblivious that sooner or later, this will all come crashing down. If you have your house paid for and some assets stashed away, you’ll get through the days of reckoning much better than those who do not. The days of reckoning are probably much closer than at any time in my 62 years.
Jerry
February 6th, 2008
at 6:35am
The cause of the shaky financial situation is actually very clear. First, various nations in the world have been trying for a while now to shift the central financial focus away from the United States and toward their own vaguely forming political blocs. They believe that this is the first step in challenging the power of the US. Secondly, and most importantly, is the extraordinary effort of George Soros to undermine the independence and power of the US. His financial machinations and manipulations are aimed at replacing traditional American ideas with his own ideas, and his deliberate interventions in the markets are now causing a totally unnecessary instability in the financial situation.
Dr. Woo
February 6th, 2008
at 11:22am
Wasn’t destroying Amerika’s economy OBL’s main objective? Thanks to the DC ChuckleHeads - it appears they may have granted him his wish.
Is The United States Economy on the Verge of Collapse? at Sub Prime on The Finance World For News and Information Around The World On Finance
March 1st, 2008
at 11:19pm
[...] Is The United States Economy on the Verge of Collapse? It did not take someone of genius intelligence to figure out that the war economy was devastating our economic future. One only had to realize that the billions of dollars being spent on the war effort and the national attention that it was diverting from domestic issues was bound to jeopardize national security on a note closer to home than Iraq. Unfortunately, our esteemed leaders, mainly our blind president, refused to see the possibility of disaster until now when it could be too late to [...]
Pamela Miller
March 2nd, 2008
at 9:21am
When are the hard working, high tax paying citizens of the United States going to stand up and say ENOUGH IS ENOUGH? We are being taxed to death, high gas prices, high food prices, high utility prices, high interest rates, high hidden fees, no health care, no concern for the citizens of the United States. CEO’s getting huge bonus checks, big businesses getting tax cuts and breaks, hospitals over-charging, high prescription prices, low wages, jobs being outsourced. Wake up America. Lets stand up for OUR RIGHTS. Would the government be happier if we all lived in cardboard boxes on the streets? When is Washington going to hear shouts and cries for HELP? Are we supposed to just sit back and be told that we are to keep our mouths shut and go along with the system? Who owns the Untied States? Not the American people anymore. We need to get it back. I am tried of getting calls from other countries wanting money. Press 1 if you speak English, press 2 to disconnect until you can is what I think. WE THE PEOPLE OF THE UNITED STATES NEED HELP NOW. Is anyone out there? Can you hear our cries for help? Do you even care about US? Give US a chance to speak our minds and not be afraid that the government will arrest us for saying the wrong things.
Richard Posner
August 15th, 2008
at 11:24am
@ Pamela Miller. Before we are force to take up arms to reclaim our country let’s try one more thing.
http://www.thepetitionsite.com/1/help-stop-global-death-and-destruction
Scott Robinson
September 23rd, 2008
at 5:14am
We are on the verge of a total economic collapse. Our Financial sytems have betrayed us because of creed and lack of integrity. Once that trust we have in our financial institutins has been breached, who can we trust.
The stock market will crash and the economy will fail. We are looking at a 700 bilion dollar government bailout to get us out of this mess. Can a already bankrupt system afford that on top of a trillon dollars in national debt. I think not. This is not a quick fix.
Our country was founded on trust, integrity and religious principles. Our founding fathers are turning over in their graves wondering, who is “watching the sheep”. Who is to blame here and how could we let this happen.
We need to look for devine intervention to help us through this one, after all it’s does say on all of our coinage “In God We Trust. We better repent now or forever hold our economic solvency.
baatcs
September 23rd, 2008
at 12:35pm
People weren’t forced to purchase homes, its there own fault if they can’t afford there morgages…..Gas prices are high due to GREED, notice all the commercials Exxon/Mobile has about helping people in Third World Countries, what about “Our Country”…… and All those bad loans that the government will pay to bring more stabalization to the economy, what about the people who are struggling now and continue to pay there mortgage???
Sure blame it on the war, however you weren’t thinking about the consequences years later when two aircraft slammed into the Twin Towers…
Still doubt you can blame this on One Man alone……it was personal bad decisions by alot of people that resulted in the collapse.