[Vision2020] The economy is falling! The economy is falling!

[Glenn Schwaller]

Yes Donovan, much much worse is yet to come.  Let's take a quick look at the
"stimulus" package (spending package).  This has been promised to be a rapid
and substantial shot in the arm for our economy.  Really?  According to the
Congressional Budget Office around 25 billion of the 825 billion earmarked
will be spent in 2009 - call it 3%.  By 2010 another 110 billion will be
spent.  Let's see, 2 years into BHO's reign and a only a little over 15% has
been spent.  Where is Obama's quick turnaround??

Worse yet, where is this money going?  "A stimulus package to bring new jobs
and infrastructure"  OK - building new highways, fixing old ones, bridges,
etc - 30 billion, not even 4%.  New green jobs?  Alternative energies?  A
mere 20 billion - and only 2 billion of that released by 2011.

And jobs?  Well there is around 2 billion for child care subsidies (no new
jobs here - just $$ to pay for child care - presumably for those fortunate
enough to have a job), over a billion for Amtrack - a real money- and
job-maker, 2.5 billion for "carbon capture demonstration projects" (WTF??)
but maybe some jobs for someone there . . .  And 650 million for digital
television converter coupons - get em while they're hot.

Over $225 billion is earmarked for spending by the government!!  Over 150
different federal agencies and programs are getting over 25% of this
"stimulus" money - and this is for buying "stuff" - hybrid vehicles for
gummnt use (what is it?  You need to drive somewhere around 300,000 miles
before you see any savings?) communication and internet upgrades, new
computers, office furniture - where are the new jobs here??

And nobody has bothered to point out this "stimulus" is going to cost an
additional 350 billion in interest.

And all of this is being run buy Mr Fiscal Responsibility himself, Timothy
Geithner.  Yeah, the guy behind TARP and it's loss of over $60 billion so
far.

So yes Donovan, much worse is to come.  And most of that will be fueled by
the Feds running the presses night and day flooding our economy with
increasingly worthless $$.  Stock up on bread now before it's $100 a loaf.

Have a good day

GS

On Fri, Jan 30, 2009 at 10:59 AM, Donovan Arnold <
donovanjarnold2005 at yahoo.com> wrote:

> Ouch! 5.1% this quarter, 3..8% last quarter. Is the worst still to come?
>
> That seems like a huge drop in the number of jobs, and GDP for just one
> quarter.
>
> I think we are going to be in a depression unless this slows and stops in
> the next few months.
>
> http://news.yahoo.com/s/ap/20090130/ap_on_bi_go_ec_fi/economy
>
> Hang onto your wallets!
>
> Best Regards,
>
> Donovan
>
>
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