Eechironin
Rank: Senior Member
Joined: 14 Jun 2010
Posts: 262
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 Posted: Sun Aug 07, 2011 12:18 pm Post subject: Get ready for another recession! :( |
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Well, here it comes again.
Why?
Simple, too many are scared.
It was years to build the house of cards that collapsed when the bubble burst.
It will take 2 to 3 times that number of years to get out of the mess.
But few are patient enough to wait for the economy to recover....
This has happened before, during the Great Depressions when it had a second crash a few years after the first because politicians got programs going to fix the first one, but then got scared...
see:
http://www.usstuckonstupid.com/
1937 Back into the Abyss
| Quote: | | A new concern about balancing the federal budget meant cutting the federal budget from $10.5 billion to $8.6 billion and an end to the vote-buying programs like the Public Works Administration and the Works Progress Administration. The crash when it came was more severe than in 1929. The Dow Jones Industrials collapsed from 190 in August to a low of 114 on November 24. |
It was not wrong for the US to control spending, but tax reform and revenue must be done as well.
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"That which is denied becomes that which is most desired, and that which is hidden becomes that which is most interesting. Consequently, a great deal of time and energy is spent trying to get at what is being kept from you."-John Denver |
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