Gold prices are set to break the $1,000 per ounce barrier this year according to industry analysts.
Crude oil prices are still hovering around $90 a barrel.
Raw materials prices for manufacturers are surging.
Inflation last year rose at the highest rate since 1990.
The American financial industry just suffered its worst earnings quarter since the Great Depression.
The US trade deficit continues to widen.
Home foreclosures are expected to increase dramatically in 2008 to approximately 1.5 million homes nationally after skyrocketing in 2007 to almost 1 million homes.
US housing starts plunged 24.8% last year, the second biggest drop ever.
The official Bureau of Labor Standards unemployment rate is at a 2 year high. The real unemployment rate is probably much higher.
The Dow Jones Stock Index has fallen at least 10% from its 2007 high.
Economists differ markedly as to whether or not we are in, or will enter, a recession this year.
The cost of the Iraq war will surpass $500 billion by March 6, 2008.
And a Republican state legislator in Idaho blames all our problems on the Communist Party’s three part agenda to destroy our country by promoting feminism, homosexuality and environmentalism.
Make of this what you will.
I’m going to look for a lesbian with earth shoes.
We can thank Big Media and the Supremes for ushering in this list of optimism and joy.
That Idaho legislator is living in a time warp. Weren’t his bogus claims fashionable in the 1950s?
But in Republicanville, being anacronistic and totally wrong gets you elected mayor! Whee!!!! Then you can spend the tax money on your buddies! Whee!! And rail against taxes and do nothing to end taxation of the powerless lower classes. Whee!! And buy up the local newspapers and teevee stations and cable companies and fill the eyes and ears of the lower classes with propaganda, which creates a “permanent Republican majority.” Wheee Wheee Wheee!!!!!!
Well the inflation, housing starts drops, price of gold/oil, raw materials pricing and the trade deficit are all because of horrible monetary policies used in this country.
The Iraq war is just literally the “best thing ever” if your goal is to bankrupt the USA as fast as ever.
The Idaho thing seems to be a half joke half wacko thing about an event 16 years ago the guy went to.
Pax
This 2-centry long capitalist spree is over. It’s ending, and the Great Whore of them all, the United States of America is leading the way of both collapse and resistance.
We can’t run our global economic system on graft, greed, and gambling. It only works for the very few, and enslaves the 99% who are excluded from the system.
The Reagan Revolution was, among other things, created to destroy that extra 10% of Americans who began sharing in the great wealth creation of domineering Capitalism. The agenda of the Revolution was to reinstate the 1%, and keep out those middle class meddlers with their university educations and good grades.
Not so much class war, and economic class war. It’s about the wealth. It’s about the insane accumulation of capital.
Well, someone at that Idaho newspaper felt his “views” were legitimate enough to offer him space on their op-ed page.
Seems to be getting harder and harder for these Replublican blamesters to look in the mirror these days. (Except of course unless you’re Mitt and the mirror loves your perfect hair)
Out here I’m getting blasted with projects up for re-bid where people are trying to lower costs to come in line with the “thanks-to-Bush-prices”. Canadians are coming down to purchase but they’re being smart about it and doing their fair share of wheeling & dealing.
The weather is chaotic, and the war drums continue.
.
Chinese proverb: “You play with our toys, we keep safe your dollars”.
BEIJING (Reuters) August 2007 – China delivered a vote of confidence in the dollar, saying dollar assets form an important part of its foreign exchange reserves and the U.S. currency plays a prominent role in the global monetary system.
The comments, made to the Xinhua news agency by an unidentified central bank official, follow a report last week by a British newspaper suggesting that Beijing could dump its vast dollar holdings if a trade war broke out with Washington.
“U.S. dollar assets, including American government bonds, are an important component of China’s foreign exchange reserves as the dollar enjoys a major position in the international monetary system based on the large capacity and high liquidity of U.S. financial markets.”
Restating official policy, the official said Beijing’s priorities in managing its $1.33 trillion in foreign currency reserves were safety, liquidity and investment returns.
China’s Foreign Currency
"But I will not let myself be reduced to silence."I guess Republican Tax Cuts don’t work. If the new stimulus package is to put money in the hands of people who spend it and don’t invest–i.e. the rich.
Reagan said “Government is not the solution to a problem, government is the problem.” So we have had the Reagan Revolution for the last thirty years, and gotten government out of the regulation business and let the free market do whatever it could. The result?
Instead of making us all wealthier, it has made most of us less wealthy, it has redistributed income from the middle class up to the wealthy, and it has returned America to the economics of boom and bust that FDR broke when he became President. Now we know the Truth.
Conservatism is not the solution to a problem. Conservatism IS the problem!