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View Diary: We were at the brink of utter catastrophe (67 comments)

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  •  well .. (1+ / 0-)
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    We are still at the brink of utter catastrophe.

    Until we restore some balance to taxation and get some of the wealth that is parked in the top 5% back to actually accomplishing something we're in trouble. It's not only the US, but the world's economy that is in danger .. the world wide depression will not be stopped.

    Right now, more than 50% of the wealth in this country is held by a small group of people. This wealth is not being used to build much [except things that kill other people, that is] and it's self perpetuating. You know, sort of like a Doomsday Machine that been engaged.

    The Dow being at 9000 and returning the "good old days of Bill Clinton" isn't going to save us.

    If we don't blow up the planet first, we might be doomed anyway .. if we don't take immediate and serious action to limit climate change, all the money in the world won't fix that, either. It may already be too late to stop it.

    So yeah .. it's great that Obama stopped the slide into hell and it looks good. Jobs come back, and we go back to the way things were before Bush. If one wants to close one's eyes and not see what is really going on, that is.

    Americans are expendable.
    We are dying for the sins of Health Insurance Companies.

    by shpilk on Sat Jul 25, 2009 at 10:51:40 PM PDT

    •  The question is, is the economy worst since Obama (1+ / 0-)
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      took over? The answer is a resounding no.....

      •  I beg to differ (4+ / 0-)
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        tgs1952, alizard, Badabing, rubine

        Unemployment worse; scandals worse (Fed/Treasury/Goldman Sachs/on and on); more closed businesses; few saved homeowners; commercial real estate crisis in wings; no break up of TBTFs, no aggressive action on regulation/supervision; states issuing IOUs for unemployment and others near crisis but still using fed money (your money); stock market being rigged ...

        ... it's worse, I think. That or we just know it's worse because the signs around us in our own neighborhoods tell the truth.

        I did not give up my brain when I voted for Obama, nor did I stick hot pokers in my eyeballs and as a result I can still see clearly.

        Add resource crises (Texas now sending cops around to follow up on citizens ratting each other out for water use, what fun) and impending swine flu and it is obvious we are in truly deep shit, without hip boots. The boots all went to the muckety-mucks on Wall Street (the whips, too, it appears).

        •  well, its like anything...we all have an opinion (1+ / 0-)
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          still, even the Krugmans and Roubinis who had criticized the President trememdously over the spring, are now saying that the finacial system is stabilizing.

          •  They're full of shit (1+ / 0-)
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            Though it's really good shit; I love reading those guys. I think attributing "the financial system is stabilizing" to them is debatable -- they kind of constantly hedge their bets. In any event, saying things are stabilizing is like saying the leper hasn't gotten any new sores. We have a leper economy with a bad longer term prognosis. No one would be happier to be wrong than me. But I just don't see it.

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