Why It’s Worse Than You Think

if you think the pain is bad now, just wait. it is clear to most thoughtful analysts, that america is in free-fall decline in every respect, and likely, all of this is quite irreversible. travel abroad and see for yourself that the playing field is now becoming level, from europe to asia. so, not only has bush/mccain irrational thinking in every realm helped accelerate america's decline (and hastened the rise of competitor economies), but the world economy has also changed in that regard. there is little you can do now except stem the flow of the rising tide and hope for the best. indeed, your only hope (i.e., as americans) is in fact HOPE (i.e., like it or not, the value of an obama presidency - re: improved global image / global consumer sentiment, with more progressive and thoughful foreign and domestic policies, even if ever-so-slight - may be far greater than you think). so, to JWSB, "Christians in general, and most U.S. voters would rather give their suffrage in the G.E. to McCain, the lesser of the two evils" i suggest you think again...look where that thinking has got you so far...just extrapolate your logic a bit now, and then judge what is truly in the best interests of your young people.

Wow...what a bunch of bitter winers. Quit looking for someone else to solve your problems and lead you to a better life. Learn to do something for yourself. The problem with our socieity is this inflated sense of importance and entitlements...those that rage against it the most are the worst perpetrators.

if you think the pain is bad now, just wait. it is clear to most thoughtful analysts, that america is in free-fall decline in every respect, and likely, all of this is quite irreversible. travel abroad and see for yourself that the playing field is now becoming level, from europe to asia. so, not only has bush/mccain irrational thinking in every realm helped accelerate america's decline (and hastened the rise of competitor economies), but the world economy has also changed in that regard. there is little you can do now except stem the flow of the rising tide and hope for the best. indeed, your only hope (i.e., as americans) is in fact HOPE (i.e., like it or not, the value of an obama presidency - re: improved global image / global consumer sentiment, with more progressive and thoughful foreign and domestic policies, even if ever-so-slight - may be far greater than you think). so, to JWSB, "Christians in general, and most U.S. voters would rather give their suffrage in the G.E. to McCain, the lesser of the two evils" i suggest you think again...look where that thinking has got you so far...just extrapolate your logic a bit now, and then judge what is truly in the best interests of your young people.

Excellent diagnosis of the USA / global economy with truths that are RARELY seen in print. MEK

I concur, Christians in general, and most U.S. voters would rather give their suffrage in the G.E. to McCain, the lesser of the two evils. JWSB

I concurr, Christians in general and most of the U.S. population will rather give their suffrage in the G.E. to McCain, the lesser of the two evils. JWSB

I know how some ignorant christians will vote and they are of all people most to be pitied!

I know how a few ignorant christians will vote! They are most of all to be pitied!

This greedy country deserves a major collapse and will get it before this summer is over... LOL

The current awesome recession must be viewed in a different perspective from that of 2001. This time, whether one likes it or not, it is going to be remarkably worse.

For starters, the greenback was much stronger then, the oil price was around one-tenth of what it is now, food and commodity prices were almost 50 ??? 80% lower. Moreover, the Afghanistan and Iraq wars did not even come to the picture as yet.

The 2001 recession managed to get recovered in a year; this time, be prepared to face the financial turbulence for a considerably longer period.

Drive and consume less, waste not. Eat simple and little. Perhaps that could be the only way to a healthier and happier life ??? with or without a recession.
(Tan Boon Tee)

Worse than we think? We already know. We live in the trenches on the paying side of every little thing. Why should the FDIC bring people out of retirement? Hire the young people coming out of college who *need* a paying job and are more progressive economists!

Democrat '08 to stop this madness.
http://www.youtube.com/watch?v=TFDc4M_PMNk

The formula use to calculate the CPI has been significantly modified since 1979. If you use the old formula with todays numbers the cpi would be much higher, i believe i read over 9%. Some of the changes include that if the price of beef rises, it assumes people will eat cheaper food. This is true but it doesn't mean that inflation hasn't occured. There is a reason why people feel like everything costs much more eventhough they tell us inflation is at relatively low levels, the new formula gives a nice low number, which keeps the amount the gov't has to spend on social security lower, and potentially sustainable. Bottom line the cpi has lost credibility or at least comparibility. We are actually much closer to 1979 levels of inflation then the todays cpi says.

Wow! Everyone is pessimistic about this situation, but I on the other hand optimistic about our future. We are smart people, lets get together and solve this massive problem. Arguing with each other does not solve anything. Republicans or Democrats or independents? I really don't care who is president, I only care what he/she does for the people, people meaning ALL of people of the United States of America. Cheer up! Better days will come, if only if you want it.

great article!

The Formula used to calculate the CPI has went through a series of changes since 1979, therefore comparing the straight numbers isn't accurate, if you put todays numbers into the 1979 formula the cpi is actually much higher, I believe i read it would be over 9%. There is a reason why people feel like there is more inflation then we are told there is, because we have significantly changed how it is calculated.