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altivoSo while Congress are making idiots and fools of themselves squabbling and refusing to make a deal over the debt ceiling, the economic analysts have come to the conclusion that I reached quite some time ago. There is no recovery after all. We remain on the brink of a serious recession, and economic growth has, if anything, just barely kept pace with population growth in the last 12 months (this amounts to no growth at all.)
Any number of experts, both conservative and progressive, in the financial industry and academia, have been announcing today that this is NOT the time to make big cuts in federal spending, at the risk of triggering another economic slide. While the deficit needs to be addressed, it cannot be done all at once, and must be approached in a long term plan.
I have said this again and again since at least 2008. Of course, why should anyone listen to me? I'm no one. I was predicting the collapse of the housing bubble more than a year before it started to become obvious too. Oh well.
Get ready for more inflation, and less income folks. This is exactly what happened in the Great Depression too. When Roosevelt gave in to the conservatives and agreed to cut federal spending, the economy collapsed for a second time.
So I did my part today. I ordered two plushies. ;p Well, it's not much, but I don't have much either.
Any number of experts, both conservative and progressive, in the financial industry and academia, have been announcing today that this is NOT the time to make big cuts in federal spending, at the risk of triggering another economic slide. While the deficit needs to be addressed, it cannot be done all at once, and must be approached in a long term plan.
I have said this again and again since at least 2008. Of course, why should anyone listen to me? I'm no one. I was predicting the collapse of the housing bubble more than a year before it started to become obvious too. Oh well.
Get ready for more inflation, and less income folks. This is exactly what happened in the Great Depression too. When Roosevelt gave in to the conservatives and agreed to cut federal spending, the economy collapsed for a second time.
So I did my part today. I ordered two plushies. ;p Well, it's not much, but I don't have much either.
