Bonzer Wolf™ (bonzerwolf) wrote,
Bonzer Wolf™
bonzerwolf

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The Great Recession of 2008

The Great Recession of 2008 is well under way, with no end in sight. The question is not if but when  the Great Recession will become a "depression". The jury is still out, but the DOW is well below the ten year low and falling. The DOW is also more than 50% below  the October 2007 high. Unemployment is below 10% in some states now. The least we can expect to experience is an extended recession along the lines of the a "lost decade" in Japan.

The Obama Nation is on a determined course to tax and spend its way out of this disaster.  As a result the Great Recession will get much worse before it starts to get better.  Will workers ever trust the stock market with their 401K, IRA, TSP and other retirement savings?  Not in my lifetime. Will pension funds, college endowments and foreign wealth funds be anxious to return to the stock market anytime soon?  Not during the lifetime of the Obama Nation.

We have ZERO reason to be optimistic.  The GDP is shrinking and will continue to shrink at least 10%.  Unemployment , real property foreclosures, credit card defaults and bankruptcies will not reach a peak for months and perhaps will continue to rise into 2010. 

Consumer spending will continue to decline at a rapid and expanding pace. We are in the perfect storm for an economic disaster, unlike any since 1929.  There is no World War III on the horizon to pull us out like it did in the Great Depression. FDR's  programs were the beginning of the cancer of socialism and WW II saved this country.  The Federal government will prevent us from recovering unless we demand the return to the Constitutional principles of the Libertarian Party of today or the Republican Party of yesterday (Reagan).

What can we do?  Join the Revolution by participating in the Campaign for Liberty and the Libertarian Party. Republicans must demand that their Party returns to the principles and values of the Constitution  and capitalism. The voters must forsake the moderate policies that started this downward spiral and turned our democracy into a socialist state, well on the way to communism. 

Each person must do everything they can to keep their jobs and cash. Cash is not king, its the only thing. Cash and  Federally insured bank accounts and certificates of deposit will continue to be the only option under the Obama Nation.

Competition for $12 an hour jobs by former six figure managers and executives is fierce and will continue to be for months if not years.  We are in an emergency situation . SAVE YOURSELVES!  Government is the problem, not the solution to the problem.

www.google.com/hostednews/ap/article/ALeqM5jRbLHI5rsHEr3rDltwl755AAPI8wD96M42JG0


                                  


Tags: economy, obamanation, politics, recession
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