Skip O'Neill – Liberty for All

Ron Paul for A New Direction

Posts Tagged ‘recession

The last time the Dow was this high…..

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The last time the Dow was this high…

•Food stamp participation was 26 million, today it’s 48 million
•Gas was $2.75, today it’s $3.80
•Gold was $748, today it’s near $1,600
•U.S. National debt was 9 trillion, today we are at $16.4 trillion

Recession in the U.S. to be official

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Recession in the U.S. to be official in 2013. We know that for many of you reading this, you are probably asking when did the 2007 recession end. Well officially according to National Bureau of Economic Research, the recession ended around June of 2009, even though for those of us living in reality, the recession never ended. Food stamp use continues to make new all time highs, with 1 million people added in the past 2 months, coincidentally the same amount of people who have dropped out of the workforce during the same time frame. Gallup’s polling information continues to give us a real unemployment number in the teens with it being steady at 20% when you include everyone who wants a full time job that doesn’t have one. With that said, even the mainstream media and economists will admit this year that the U.S. is in a new recession, perhaps even stating that it started in late 2012.

Written by opinionoregon

January 7, 2013 at 3:17 pm

China’s Economic bubble begins to deflate in 2013

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China Bubble begins to deflate, China currently has 65 million vacant units of real estate, these cities have been rightly dubbed, ghost cities. China has also been stockpiling commodities, this growth is now on edge due to China’s wage dilemma. If China allows wages to rise so that their citizens can begin to purchase a lifestyle of a middle class family, China may as a result lose jobs to lower wage countries like India and other parts of Asia. However, if China continues to keep wages low, they will basically be stuck building an empire that no one can afford to live in. To top it off, China has a long term demographics problem, probably the worst the world has ever seen due to China’s 1 child policy. China over the last generation has created a population of 4 grandparents, 2 parents, and 1 child. China in the next 20 years will have more old people than the entire U.S. population. As the world slows down, China will potentially see the worst of the downturn as jobs move out of China and demand for Chinese goods collapse in the West as those nations experience depressions and dramatically lower incomes from austerity.

Written by opinionoregon

January 6, 2013 at 8:21 pm

Only 3 ways out of debt crisis and none are good.. Here are the choices.

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As of November 16 at 12:38:023 a.m. GMT,   the United States debt was   $16,248,670,479,820.44 or $51,767.45 per person, including for each  child. The debt has increased by billions of dollars a day for the last  several years. As your children grow, they become more indebted.

Only one of three outcomes is possible:

  • The debt can be paid through  massive inflation and taxation
  • The interest can continue to be paid through massive inflation and taxation
  • Repudiation of the debt

Even if the payment of principal were possible, what’s left of the US economy would be destroyed for many years to come. Politicians prefer to pay the interest  by placing a ruinous lien upon your children’s future earnings. The least palatable option to politicians is repudiation. Nevertheless, a de facto repudiation of debt may occur on a large scale simply because the money is running out. Indeed, repudiation happens in microcosm each time a city declares bankruptcy. But the process will be slow; government will grab every cent it can to keep its crumbling edifice erect.  What is next?  Nationalizing of retirement accounts.  It is in the works….

Democrats really want to extend Bush Tax custs..Here’s why

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The Left is bluffing about the fiscal cliff and are blaming the GOP for standing in the way of a compromise.  Let’s see, if the Bush Tax cuts expire (which is part of the “fiscal cliff”) then the impact to those who voted for Obama would be:

        • The lower income tax bracket would rise from 10% to 15% (50% jump)
        • The employee share of Social Security payroll tax would rise from 4.2% to 6.2%  (30% jump)
        • Approximately 33M taxpayers (many in blue states) will move to the AMT (alternative minimum tax) bracket.  This up from just 4M today.
        • Child tax credit would be cust from $1,000 to $500

The democrates think they have the upper hand in the negotiations.  I say to the GOP, call their bluff and let’s go over the cliff.

Written by opinionoregon

November 21, 2012 at 4:53 pm

Top Reasons why America will NOT turn around for 20 years.

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Dollar Decline – The continuation of dollar devaluation through inflation, leading to the end of the dollar as the world’s reserve currency. Additional downgrades of America’s credit rating. Probable 30+% inflation, gas prices by 2015 of $ 8 per gal. A National Debt by 2016 of $ 32 trillion.

Continued deficit spending – Massive increases of government spending at a minimum of $1.7 trillion per year. Healthcare costs skyrocketing to $1 trillion per year. Spending carryovers from 2012 of over $ 200 billion. $40 billion monthly (1/2 trillion in 12 months) mandated spending through 2013 just printed money backed by nothing. (Medical costs for 2011 were $ 835 billion they double every 7 years)

Pandering to Middle East – The continued failure of foreign policy through increased violence in the Middle East. Further growth of Islamic fundamentalism and the Muslim Brotherhood. Expanded assassinations with drones, of Obama identified terrorists. Expansion of wars in the Middle East most likely with Syria and Iran.

Internet spying – Massive attacks on the Internet, and free speech. The development of cybersecurity in the fake support of anti-terrorism. The opening of a new NSA managed security operation, which is actually a violation of the 4th and 1st amendments, cataloguing every American. Attacks on free speech through the use of controlling social media by restricting individual and group access to the Internet, something that is already operational. The control of web content. Restriction of Internet IPO’s whose allocation will be turned over to an international body.

Supreme Count moving left – Two more leftist Supreme Court justices turning the Supreme Court into an leftist majority that will internationalize American jurisprudence, destroy what ever little is left of the constitution, and complete America’s journey to socialism.

Excessive regulation – The regulatory juggernaut that began on the first day of the Obama administration will be greatly expanded to destroy American free enterprise of every sort. Any company successful will be relentlessly attacked by over-regulation. This will destroy jobs and foster business nationalizations.

Shutting down Americas Energy – Green energy in the form of solar and wind electric energy production, and electric cars all of which are non-competitive on the marketplace, without huge government subsidies (your paid taxes) will be expanded. These are the very policies that have brought Spain to bankruptcy. They will waste billions more, (six billion of bankruptcy’s in first term) drive fuel prices through the roof, eliminate coal as an energy product, eliminate Alaskan oil production, prevent the Keystone pipeline from Canada forcing Canada to sell their oil to China, drive all costs of energy and food up, and reek havoc with the entire economy.

Illegal Explosion – There will be amnesty for 25 million illegal immigrants. This will almost immediately bankrupt the entire welfare systems including Medicare, Medicaid, Obamacare, and Social Security.

There does not appear any way to turn America around, at least not in the next generation or two.

Predictions for the next 4 years. Scarey!

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Here is a list of ten things that will happen during the next four years.  

  • U.S. credit rating downgrade,  Again.
  • Deflationary shock (market crash)
  • The bursting of the bond bubble (short bonds)
  • Devaluation of the U.S. dollar (can you say gold and silver?)
  • Government defaults (local)
  • Mining stocks bull market that will turn into an epic bubble
  • War with Iran (probably an attempt to distract us from the real reasons the economy is failing)
  • A new normal for unemployment, real unemployment (U-6) will avg. 16%
  • U.S. Depression acknowledged by the media and world
  • The Dow Jones and gold will have a 1 to 1 ratio somewhere around $4,000

Written by opinionoregon

November 8, 2012 at 10:27 pm