That Crashing sound you hear is our Economy

[Warph]

An article by the Associated Press asked the disturbing question: How Deep Is The Economic Abyss?   Although few are prepared to answer that due to the ambiguity, complexity and impropriety at work, I find it strangely amusing that the mainstream media has all of the answers to why such an abyss exists and indeed poses a threat, now that we're hanging off the proverbial edge.

Until the latter part of last year, such discussions have been considered doom and gloom rhetoric by the celebrated experts of our time.   But you can only hide the obvious for so long.  It becomes increasingly difficult to persuade panicking passengers aboard your foundering vessel that everything is OK when you're thrashing about in seawater sporting a life preserver.

Frankly, I can't answer the question the AP posed either; but I've been keenly aware of the approaching abyss for some time and have been preparing for it, thanks to my financial advisor.  Though the economic pain is  spreading far and wide, I personally believe we have a long way to go before finding bottom.

In the near term, I suspect there will be a lot of talk that the worst is all behind us and that things are starting to look better in certain segments of the economy now that the great ONE is in office.   This kind of propaganda is likely to be repeated over and over again on the evening news to try and prop up consumer confidence in the face of rising prices, declining demand and plummeting profits.

As I see it, the greatest challenge facing the Fed right now is keeping it all afloat.  And now that Obama is president, he will in no way be remembered by history as a winner because he will be the designated scapegoat when it all comes crashing down on his watch - the public not realizing that the stage for this coming disaster was set many presidents ago with a fiat currency and a global agenda.

You see, it's all just borrowed money - created out of nothing - backed by nothing and good for nothing apart from the blind confidence of those who hold it.  When that confidence eventually wanes, as it is already happening overseas, so too will the illusion of prosperity and freedom we thought was ours.  It's going to get a hell of alot worse before it gets better.

"The rich ruleth over the poor, and the borrower is servant to the lender." - Proverbs 22:7
 

.....Warph

[pam]

You see, it's all just borrowed money - created out of nothing - backed by nothing and good for nothing apart from the blind confidence of those who hold it. 

Well duh.........

[Teresa]

But Pam...It might be duh to you and me ..........but sadly so many ( even those that are in office)  do not look at it that way....

[pam]

But Pam...It might be duh to you and me ..........but sadly so many ( even those that are in office)  do not look at it that way....

Oh I know but geez....
Y'know the one thing that is actually goin to bring us down isn't who is president or whatever, it's the fact that nobody has sense enough to think for themselves and take everything they hear on their favorite news or whatever as the one and only galvanized, ordained pure truth. never even occurs to em to think there just MIGHT be more to the story or God forbid a totally DIFFERENT story. Sheep....it's the TRUTH even if it's a LIE just because of who or where it came to em from.

Well I've managed to totally bum myself out......

[Anmar]

I don't think we'll get anywhere until we have a president that starts looking into getting rid of the federal bank.

[frawin]

I don't think we'll get anywhere until we have a president that starts looking into getting rid of the federal bank.

Are you talking about the Federal Reserve System??

[Anmar]

The federal reserve is a private organization run by the largest banks in the world.  They are no friend to the american people and many presidents have been fighting against these banks since the nation's founding.

[frawin]

The federal reserve is a private organization run by the largest banks in the world.  They are no friend to the american people and many presidents have been fighting against these banks since the nation's founding.

I think you are misinformed about the Federal Reserve, who runs it , and when it came into being.

[Anmar]

no, not really, the federal reserve is just the most current inception of the national bank.  It was first chartered in 1790's by andrew Jackson.  The bank's purpose is to dictate monetary policy, but it does so in the interests of the banking industry, not the people.  Take for example, the 700 billion bailout deal passed recently by congress.  This money is going to failing banks that made poor investments.  That money belongs to the tax payers, why are they just giving it to people who obviously can't manage money?

The only time in our nations history that the National Debt has been completely paid off was under president Andrew Jackson.  One of the most important things he did in order to accomplish that goal was to kill the national bank by not renewing its charter

[redcliffsw]

Anmar, you could not have stated it any better.