Quote:
Originally Posted by Ibram
Of course unemployment is up - a lot of jobs were lost before Obama took office, a lot were lost after.
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We know this recession is directly traceable to fiscal mismanagement openly endorsed during George Jr's watch. We know the same mismanagement in the 1920s to enrich the rich resulted in a stock market crash in 1929 and massive job losses four years later - 1933.
We know the same type mismanagement and time scale resulted in massive job losses that also take years to recover. The problems in 1929 and 2008 are similar. History says these problems will take almost ten years to resolve.
We also know that other mismanagement (ie housing, Mission Accomplished) are being paid for today with unemployment and lower living standards - as economics takes the well deserved and predicted revenge. We also know another rock has yet to fall - pension funds. During the previous decade, companies such as GM intentionally shorted their pension funds to use that money as profits. Because GM was selling products that cost more to build than the selling price. When does the pension fund debacle hit? Even GM declares a record profit while ignoring their record pension fund deficits. We have yet to get through the housing fiasco. Are just beginning to pay for a lie called Mission Accomplished. And have yet to start paying for another fiasco created by the American 2003 surrender in Afghanistan.
Also pending may be expenses since two countries need nuclear weapons. Because a mental midget defined an Axis of Evil. Another legacy.
Despite all this, the economy continues to grow. Even American international relations are finally on an upswing. Rather amazing - unless you happened to be the fewer who are doing most of the work. Then the word ‘tired’ might apply.