Quote:
Originally Posted by texdav
I thnik that other than inflation it looks alot like the 70's recession coming. That means high nemployment ahead and a very slow recovery. I see many areas of the country where it could atle 10-15 years or more to turnaround conmsidering the industries there.I definitely see this as much worse than the 80's recession.Hope I am wrong.
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I fear you are right.
If Obama does ANY of the things he promised during the campaigns (primary and/or general elections), the country could go into a DEPRESSION!
I am talking about raising cap gains taxes, raising the marginal tax rate, spending an additional $1 trillion a year, allowing Iran to Invade Iraq and/or nuke Israel.
This is a fragile economy and fragile "world peace". One step towards Obama's direction could trigger disaster.
If history taught us anything, last two times taxes were raised during a recession trigger a Depression and a 10-year recession. Hussein better start doing some historical research.
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