Did Benny Kill The Economy???
November 19, 2009
– Comments (17)
We are building homes at 1940s rates....when our population was a fraction of the size.
After Jan 1st, commercial RE construction basically comes to a grinding halt.
Commericial RE sales are down 70-90%.
Auto Sales are tracking 1960s sales levels.
Airlines are flying at early 1990s capacity.
Power plants are shutting down going off grid due to lack of demand.
YET DEBT AND COSTS ARE AT 2008 when revenues were flowing at MUCH HIGHER levels.
As are result, small businesses are in a depression and have difficulty accessing credit.
Tax receipts are contracting at the fastest rate in history.
Unemployment is approaching depression era levels and government and health care have just started laying off in large numbers.
ALL WHILE BENNY B IS RUNNING A $2 TRILLION DOLLAR DEFICIT SO WE CAN GIVE MOST OF THE NATIONS WEALTH TO THE BANKS while he tells us the recession is over.
So here we are, banks can't make much lending, RE is practically dead, and insurance is suffering. Without FIRE humming, our economy is not generating much in earnings. Little earnings little tax receipts and we begin to starve the largest consumer in the world, U.S. Government.
In order to save the banks did Benny kill the economy with his zombulation policies??? Just wait for January, after millions more have lost their jobs, thousands of businesses have shut down, state, county, and municipal government learn that revenues they became dependent upon become a distant memory of the past. Same with the income of many in the private sector.
Pretty soon, millions of Americans will be sitting around with not much to do and little prospects employment.......the masses will likely get restless........what do you think might happen to get people working or distract them from their condition?
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