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Showing posts with the label Depression

Fed Now Sees Recession

The Federal Reserve has finally announced that the Nation is in a recession. It seems a little late being that in their announcement they said we are most likely in the 14th month of the recession. It is all too convenient that this information was withheld from the American public during the recent election cycle. If it had been made public, maybe less of the corrupt Republicans would have been re-elected to Congress and the phony John McCain would not have even been a close second. Regardless of the games they played, the Republicans still lost the election because the American Public could feel the suffering caused and knew that we were in recession, they did not need the Fed to finally come clean. The worst news however is that they are still lying, we are not in an economic recession we are in an economic depression. Contrary to John McCain's financial adviser during the campaign, Phil Gram, it is not in the minds of the American People, it is all too real. Phil Gram is one of...

The Bush Depression

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What plans have the Presidential Candidates announced to turn the economy around from a very deep recession back to a robust economy that was in place during the Clinton Administration. New York State is about to announce that the State budget is in the worse shape since the Great Depression. The just passed housing bill is being touted as the largest government bailout since the Great Depression by the European Press. Two more banks were taken over by the FDIC over the weekend and there is worry in financial circles that over 150 more banks will fail throughout the country in the next few months. The response from the Administration is that the economy is stable but growing slowly. The response from the McCain Campaign is that it is all in our minds, there is not a recession. The response from the Obama Campaign is that yes American families are hurting and an Obama Administration will address this with middle class tax cuts. The response from Congress is, that's right silence. Du...