Why It’s Worse Than You Think

Bernanke is the same expert who only last year told Congress wonderful fairytales about housing, the markets, and the economy just as the bubble was beginning its implosion.

Apply the controls available, without inventing new ones, and refrain from creating a Nation dependent on its government (through politicized cronyism) for financial success. Prosperity has no address on that road.

http://pacificgatepost.blogspot.com/2009/07/bernanke-and-super-fed-say-its-over.html

Make changes at the top and change the structure over money???s controls.

GOVERNMENT LIES TO COVER UP A BIG PROBLEM.

IMAGINE A DOCTOR TELLING A PATIENT THAT EVERYTHING IS JUST FINE -- WHEN IN FACT THE PATIENT HAS CANCER.

PREZ OBAMA IS LYING TO THE AMERICAN PEOPLE; BUT , HE DID SAY ONE TRUTH ---- WE ARE DOING WHAT WE WANT.

WALL STREET GETTING TAX PAYER MONEY ( AT LEAST THE SELECT FEW ARE ).

AUTO INDUSTRY GETTING TAX PAYER MONEY ( AT LEAST THE SELECT FEW ).

BANK AND CREDIT CARD COMPANIES GETTING TAX PAYER MONEY ( TO CONTINUE THE GREED AT TAX PAYER EXPENSE ).

LIBERALS MANIPULATING THE STOCK MARKET TO PERPETRATE A FRAUD ON STOCK INVESTORS.

WHAT YOU SEE IS NOT WHAT YOU GET.

THE LIES CONTINUE.

Obviously the banks have never and will never act in the best interests of the USA nor it's populace. It is time to imprison the bankers for treason and replace them all. They were nothing but greedy thieves anyway. Perhaps the spectacle of a few graphic executions would jolt (literally) the rest into developing a sense of patriotism and pull their head out of their nether region.Without the general population these parasites can't live, they are just too greedy and stupid to realize it.

Obviously the banks have never and will never act in the best interests of the USA nor it's populace. It is time to imprison the bankers for treason and replace them all. They were nothing but greedy thieves anyway. Perhaps the spectacle of a few graphic executions would jolt (literally) the rest into developing a sense of patriotism and pull their head out of their nether region.

The U.S. has too many people doing nothing. It is impossible to make a profit when you have so many people w/o trades.
Thank Gd I was born in a time of prosperity.I have mine.

The following data also explain why it is worse than you think:

Economists use purchase-power-parity adjusted GDP ( Not exchange-rated GDP or nominal GDP) as one realistic indicator to compare national economies. It is simply because a Big Mac (or cost of living for that matter) could cost, for instance, 3 times in NY compared with that in Beijing in a specific currency.

To truly compare three current (2008) largest national GDP, we need to look at several indicators:

Current 2008 Purchase-power-parity adjusted GDP (top 3 countries; in trillions of dollars): US 14 / China 8 / Japan 4.5
(https://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html)

PPP GDP 2013 projection (in trillions of dollars): US 17 / China 14 / Japan 5
( http://en.wikipedia.org/wiki/List_of_countries_by_future_GDP_estimates_(PPP)

Current export (in billions): US 1377 / China 1465 / Japan 777
Current external debt ( in billions): US 12300 / China 400 / Japan 1500
Current foreign reserve ( in billions): US 70/ China 2033/ Japan 954
Stock of money ( in billions): US 1374 / China 2300 / Japan 4370
Current deficit (-) or surplus (+) (in billions): US -568 / China +368 / Japan +188

If we divide by a factor of billion; a more useful comparison goes like this:

The US currently earns $14,000 (projected $17,000 in 2013) and shortfalls $568 a year; owes $12,300; and has $1,374 in the bank
China earns $8,000 (projected $14,000 in 2013) and surpluses $368 a year; owes $400; and has $2,300 in bank
Japan earns $4,500 (projected $5,000 in 2013) and surpluses $188 a year; owes $1,500; and has $4,370 in the bank

Which of the above financial situation is more desirable to you?

Not being very versed with economics and how things work financially, I cannot conclude one way or the other whether the economic recovery package would be effective to the scale suggested. My feeling is that doing nothing about this probably will impact the middle/lower income people more.
But as an individual who has lived though the last 8 years, I am pretty cynical with the ideas being floated by the republicans. My theory is that why didn't they suggest these ideas and put them into practice the past 8 years. Where was all these outrage and concern then? Why have they all of a sudden become purveyors of good economic judgement. I I have my suspicions about their motives, so I'm comfortable in supporting what the democracts are proposing. but the debate should go on to get the best possible recovery plan.

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A chilling reminder NOT to mess with China................they own 900 billion in U.S. bonds, so I would NOT get too cocky, as they would be able to economically blackmail the U.S. if they called the bonds in!

My question is.... IS the economy really that bad right now? I mean, the news papers and the Fed. Reserve are saying it's bad, but should we really believe them? Where is their data coming from to backup their claims? I've found A LOT of articles to back up the fact that the US economy is slowing, BUT IN NO WAY does this even compare to the depression era.

Here's a great article I found on Investor's Business Daily: http://www.ibdeditorials.com/IBDArticles.aspx?id=316049209319113&kw=hamilton. If the link doesn't work, you might have to copy/paste into your browser.


Here's an excerpt, "It might be illuminating to note that by 1933, during the height of the Depression, the unemployment rate was 24.9%. During that same period, GDP was falling dramatically, which created a devastating impact on the country."

Hey Mr. George Bailey, Being an optmist is a good way to hide from reality. When you have cancer and you are in your last stages, the doctors would still say that you will live; but if you are smart you know that your countdown had begun !! So think both ways.. Some poets wrote so well about being optmistic that they forgot to write the good things about being pessimistic sometimes. !!

This story reminds me of a song! You got to know when to fold them,know when to hold them. Know when to walk away,know when to run. You never count your money, when your sitting at the table, There be time enough to count it, when the dealing done. Good luck America, were gonna need it as this is just the tip of the iceburg, No one safe in a downward spiral inflation and recession. Wait will we pump trillions into a failing economy,watch our dollar reach new lows worldwide. In the near future,I think we'll be seeing new paper money printed, which could replace all money at .50 on the dollar. It does not matter if your money is in the bank,under the mattress, everyone and every business will take a hit. Were in the big depression of 2009. We will not recover soon and will never be a economic world leader as Asian markets as well as China emerges as the new financial leaders and investments will pour in. America is now for sale and it may always be called America, but the America we will come to know, will be owned by other countries.

Mr. Gross,
Why are you more qualified to predict the economic forecast than the optimistic economists whom you quoted in your story? What are your credentials? I see that you are a journalist, a history scholar and an author but I don't understand how any of those accomplishments make you an authority on macroeconomics. Why should we listen to your pessimism more than the encouragement of experts in the field? Aren't the markets driven by fear, as well as greed? Aren't you simply jumping on the bandwagon with other members of your journalistic ilk hoping to influence national events with your profession's brand of self-fulfilling prophecies? Aren't you helping Old Man Potter? "Can't you understand what's happening here? Don't you see what's happening? Potter isn't selling. Potter's buying! And why? Because we're panicky and he's not. That's why. He's picking up some bargains. Now, we can get through this thing all right. We've got to stick together, though. We've got to have faith in each other." When you read this was your first reaction, "Sentimental hogwash"? Now, go to your computer and write 1,000 times, "I will report something positive about the economy." Sincerely, George Bailey.

why so many jobs listed? 3.7 million right now.. www.CareerSitesCompany.com

The Bush Depression


In a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit.Bush created a national debt larger then the first 42 presidents combined
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why isnt obama 25 points ahead

The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.

Let's teach him we are smarter than that .

31 states are voting now, dont wait
Elect Obama Biden 2008





Check out this video of sarah palins interview before you vote



http://www.youtube.com/watch?v=r36Xc0GG4i

Let's not forget that Warren Buffet, who is doing so much to bolster America's economy right now, is planning to vote for Barack Obama. Mr. Buffet says that Obama's economic plan is good for all Americans and has also said that John McCain's economic policies would further bankrupt our country.

If you vote for McCain, you are voting for more of the same pandering to corporations that ship jobs overseas, wreak havoc on the economy.

Vote for a strong economy that is regulated by fair principals. Vote for Obama.

n a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?





The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.





Let's teach him we are smarter than that .

Hold them accountable NOW!
Elect Obama Biden 2008




Check out this video of sarah palins interview it will blow you away


http://www.youtube.com/watch?v=r36Xc0GG4iQ