Saturday, February 28, 2009

US Economy utterly stuffed

The U.S. economic contraction in the fourth quarter was deeper than the government first estimated, with other reports today signaling little prospect of relief until at least the middle of 2009.

Gross domestic product shrank at a 6.2 percent annual pace from October through December, the most since 1982, the Commerce Department said today in Washington. Separate figures showed consumer sentiment and business activity dropped this month.
More pleasant headlines here, just for a rainy Saturday.

The comment that no relief possible "until at least the middle of 2009" is hilarious.

I'd say add 10 years: 2019.

6 comments:

PhilBest said...

".....Add ten years...". I agree, because of Obama/Pelosi/Reid Democratic "stimulus" packages and mishandling of economic policy. A Ron Paul or Fred Thompson presidency might have given the USA a short, sharp recession. A McLame one would have been little better than Obama on the economic front.

A Ron Paul presidency or something similar next time, is really America's only hope. Only a world war interrupted an FDR-overseen decline and fall of the USA last time round. I'd say a repeat of that is quite on the cards.

Gooner said...

I hope you're wrong Phil. Fortunately Obama is not a warmonger and mostly neither are the Democrats.

LaFemme said...

Obama's not a warmonger? Umm, I think you should rethink that. Not to be outdone by his 20th century presidential Democrate ancestors (nearly all of which were warmongers by today's definition), President Bobble Head said during his campaign that he intended to continue the practice of lobbing cruise missiles into the tinderbox that is Pakistan.

FAIRFACTS MEDIA said...

Obama is not a warmonger?
That's the trouble.
If he's a retreatist and a peacnik, people will talke advantage.


Back to finances, I fear Obama is going to leave a huge legcy of debt and his prk-0ridden package will do untold damage. especially when it has to be paid.

Andrew Bolt gave a pretty good demolition of Obama the other day
http://blogs.news.com.au/heraldsun/andrewbolt/index.php/heraldsun/comments/column_forgiving_obamas_flopping/

As did Liberty Scott.

I think ten years might be a long recession but the Obama term will be about right.

The best kickstart will be a change of government, which will probably happen.

James said...

I hope you're wrong Phil. Fortunately Obama is not a warmonger and mostly neither are the Democrats."

Although historically nearly all US military foreign involments have occured under Democratic Presidents....warmongers!

;-)

Anonymous said...

Gee thanks W. Nice job.