A private survey today showed that confidence among U.S. consumers sank to a record low in February. The Conference Board’s index declined more than forecast to 25 this month, the lowest level since data began in 1967, the New York-based research group said today.
Based on the actual numbers, that’s a ridiculous reading.
The real reason, of course, is that the Obamassholes knew they couldn’t pass their ludicrous socialist porkulus power grab unless they frightened America to death, and so they frightened America to death.
Submit to Stumbled Upon!
For the record, I do think this downturn will eventually be comparable to the Depression, conveniently falsified consumer confidence numbers aside. That, of course, is no excuse for the “stimulus,” digging a hole and using the dirt to fill another hole you already dug, except now you’re tired.
Bill, they didn’t need to scare anyone; they had the votes. They are just trying to get history written their way. “We had to do something. Didn’t you see those consumer confidence numbers?”
In general, I don’t think the government needs to do anything except at the moment of a run on the banks. If the government wants to step in at that moment for an orderly unwind, I’m cool with it. It would be nice if the government would prevent and break massive “too-big-to-fail” financial boondoggle companies like AIG instead of FRMC and FNMA, but unfortunately Our Heroes in the GOP were all to happy to allow monopoly / oligopoly / cartel power to build under their watch.
Comparable to “The Depression” or a depression? I think that’s the key thing here. The depressions that occurred before 1929 were usually over 18-24 months later. The GReat Depressions lasted a decade. Why do you think that is?
Why would you consider FRMC and FNMA different from AIG? Together the 2 GSE’s are monstrous and the government intends to expand them, not break them up. So I’m puzzle by your use of the word instead in between “AIG” and “FRMC and FNMA”.
Follow up to the why? question would be “how is what we’re doing today repeating the same mistakes of the 1930’s?”.
You’re right, kennycan. “Instead” is a complete typo. Should have read, “instead of creating it and companies like FRMC and FNMA.”
I do think we’re repeating the same mistakes of the 1930s, and that’s why I think we will get another “The Depression” instead of “a recession.”
This just goes to show Obama’s incredible patriotism and stupendous commitment to the well-being of future generations.
Think about it: What made The Greatest Generation so great? Was it not overcoming The Great Depression and World War II? If we want to get results like that again, we need America to be crippled by socialism and Europe to be controlled by anti-semitic totalitarians. Sure, Europe’s doing their part, but why bother having a half-Greatest Generation when you can go whole hog?
Cayley, Bravo!
-sniff- Our little girl’s all grown up and being satirical ’n’ stuff.