Monday, August 8, 2011

The Next Recession

It is sure starting to look like we are on the way to the next great recession. Similar to the 1937 Roosevelt recession the Republicans are forcing the President to pull back government spending in the economy which will cause unemployment. They also made an issue out of the debt ceiling and then got the US bond rating downgraded which is leading to a roiling of the stock market. This has to be by design there is no way that by just dumb luck all of these things could have intersected at this point in time to bring down the economy. The question should be what is the end game. Unlike FDR, Obama is not likely to see the writing on the wall and recommit to helping the people are going to be getting hammered by the downward trend in the economy. I understand that the Conservatives want to undo the New Deal, but then what? Lots of jobs for $2 an hour and no one to buy products? Or more likely, no jobs, no government support, and ultimately no product sales. Welcome to the decline of the US and it wasn't the liberals fault.

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