Uz se o tom mluvi ... It's refreshing to hear the truth from the mouth of a politician. Unfortunately, it's not Obama who's telling the truth, but the Vice-President. Still, it should make the public and the media, who have gone to sleep, wake up and take notice.The reality is exactly what Biden says it is. The country is going to go bankrupt. And, nothing is being done to prevent that from happening, which is a crying shame. Where are the patriots who so vociferously stood up and defended the nation in the past? Dead and buried, it appears. We go invade other countries and "liberate" them (for whose benefit is the ultimate question), but we can't save our own country from its ultimate fate.As a nation, we have lost control of our finances. We lost control of the nation when we let the bankers write the laws. We lost control when we allowed them to buy representatives, senators and the President of the United States. Now that they are in control, we are getting the kind of decision-making in Washington that got us into this crisis on Wall Street. In other words, we're on a train roaring down the mountainside with no one at the controls.From massaged government data (invalid seasonal adjustments---Detroit seasonal layoffs created a bogus positive number which will drop away in time once the laid-off fail to return to work---in the unemployment claims data, in particular, make that early indicator of recovery not only worthless, but misleading) to the fact that banks just aren't lending (why would they when they know there are no "green shoots" to pin hopes of loan repayments upon), nothing of real substance points toward a recovery in the economy.It is a complete fantasy on Wall Street today that the economy is "recovering." Ultimately, the stock market "recovery" will be proved to be a chimera that prevented the leadership in Washington from taking the steps necessary to even delay the inevitable collapse that's coming in the economy. In fact, a stock market retracement of about a third of the losses to date is pretty standard in a severe bear market. The Dow, in fact, retraced slightly more than half of its losses from the 1929 Crash, then gave up the ghost in a horrific 80% further decline over the next couple of years. Can that be ahead? Don't count it out just yet, there are time bombs set, lit and ready to explode down the road.
>http://donklephant.com/2009/07/16/biden-were-going-bankrupt/
