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How is Obama planning to deal with the coming crash of the commercial real estate market? $171 billion dollars in commercial real estate coming due this year. Maybe he has not thought about it too much because commercial real estate is mostly owned by "rich people" . The consequences of this crash will be disastrous.
What is really going to cause the economy to implode is extreme unemployment. I could see it going to 25-30% (the U6 unemployment rate, not the sugar-coated U3) by mid-2010.
Get people back to work again & that will solve about 75% of this mess.
What is really going to cause the economy to implode is extreme unemployment. I could see it going to 25-30% (the U6 unemployment rate, not the sugar-coated U3) by mid-2010.
Get people back to work again & that will solve about 75% of this mess.
Barring a total collapse of the financial sector - which is unlikely at this point - I don't see unemployment going much higher than 10% - tops...
Your numbers are full-blown depression numbers - and we are not headed in that direction now... government is taking care to inject sufficient liquidity, to stimulate spending, and to help firms unload their toxic investments... we learned some important lessons from the Great Depression and I am confident we will avert another...
The only real chance of depression I perceive is if the Republicans continue to be blind-obstructionists - and they manage to stop important legislation for their own political greed.
That was a pretty good article - lots of information that most people are unaware of...
But don't despaire - the situation is not hopeless.
It will take time, but I believe Obama will reign in the greedy excesses (uber understatement) of Wall Street... His proposal to limit executive compensation is the first shot across the bow of these totally irresponsible, totally self centered, totally unpatriotic masters of the universe...
And if he can't do anything to reign them in - I think the possibility of armed insurrection some day of the working class against the filthy rich is not to be underestimated. People will only be treated like dogs only so long before they fight back.
Obama is an agitator. He wants a class war. You are buying into it.
How is the government any better than Wall Street? Shouldn't you also be angry at government?
Barring a total collapse of the financial sector - which is unlikely at this point - I don't see unemployment going much higher than 10% - tops...
Are you blind or just an Obama supporter? Please read my thread "Small Businesses: How many will fail". Michigan already has an unemployment rate of 11.6%, California is at 10.5% and these are sugar coated statistics. Do you see a lot of jobs being created lately? By the end of 2009, our national unemployment rate will be higher than 10%.
I love how the media have poisoned the public mind (?) about unions. They are about the only thing left to stand up to the right.
Fact - The cost of the labor in a 2009 car is the same as a 1948 car. Don't believe it? Contact the gov. Dept of labor. Really crippled those companies, hey? What was that about great management?
Fact- About 80% of newspapers, most of the radio & TV stations are owned by corporations. Gee, are they fond of unions? As Einstein put it "when the media is owned by one class they will advance the views of that class only." (Well put)
Fact- You should go down on your knees & thank God for those unions for without them there would be NO middle class in this country. Read some history.
Have a nice day.
I also love how the people snivel & whine about "class war." The rich have had socialism for 200 years. They are subsidized in every aspect of their lives. They have waged war against the middle & lower class since the revolution & they really came out of the woodwork after Pruneface was elected. How the heck they get peons to support them is a mystery of life!
I don't want socialism like Europe in this country - don't want all my medical bills paid or none of those 13 week vacations! Heck no.
Have you noticed how EVERY time the right gets into office there is a recession? That's so the rich can snatch up peoples possessions for a bargain.
Rollingstone? look arund you do you see a depresion here;I certainly don't.As to the cause in isn;t just wall street they had millions of co-conspirotors of geeedy ameicans ;some to dumb to play the game. Just look at debt taken on ;the average spending verus income of the average.Main street was bankrupt long before wall street from greedy spending on credit. Main street was fist and that left wall street holding bad assets of main street.It maybe the end of a lifestyle for many that could never afford that lifestyle except on credit.Others will loose it because of those people and others will do fine IMO.
Obama is an agitator. He wants a class war. You are buying into it.
How is the government any better than Wall Street? Shouldn't you also be angry at government?
He should be angry at Dubya and the Republican for doing so much to cause the mess we are in.. and also at good number of Democratic congressmen who had a hand in it. So in that regard he SHOULD be angry at government...
I'm sure he sees that Obama is merely stepping up to the plate and doing the dirty-work and trying to fix the mess that Dubya left behind...
And Obama is definitely NOT an agitator...
He'll eventually fix this mess that he inherited.
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. The consequences of this crash will be disastrous.
