From Rasmussen:
…Just 10% of American adults rate the U.S. economy as good or excellent. Fifty-two percent (52%) say it’s in poor shape…
That 10% is a combination of bailed out bankers, public sector union bosses and lobbyists…Obamunism has been good for them.
Really, though, if you just look around you can see how bad it is. Gasoline prices continue to sky rocket. How many of you have started, as I have, to say at the grocery store “if it isn’t on special or I don’t have a coupon, it isn’t getting bought”? New and existing home sales continue to plummet – half of all home sales in Las Vegas are cash purchases as investors snap up foreclosed properties (probably foolishly – I think we’ve got at least another 40% to drop out here before we hit bottom). The Japanese disaster is starting to idle plants around the world – and Japanese investment funds are returning home to pay for reconstruction. European nations teeter on the edge of sovereign default. China continues to overheat with inflation as their real estate bubble goes from stupid to idiotic. Here at home, we can’t even get the Democrats to discuss entitlement reform, and even trying to cut a piddling $60 billion provokes a huge fight.
The good news is that if you can get through the next three years without losing your job or having to take a significant pay cut, then things will start to get rosy for you. With the coming crash, everything will get a lot cheaper for anyone who has money…trouble is, quite a lot of people won’t have any. I’m crossing my fingers and trying to guess how long it will be before my employer gets hit by the crash…and how deep the employment cuts will go (ie, whether or not they’ll stop before they get to me). I figure I’ve got a 50/50 shot of making it until 2014.
We can still fix this, of course – I just don’t think we’ll be able to while Obama runs the White House and Reid the Senate. They, on their part, worry that any attempt to get rational about taxes and spending will irreparably split the left…with the kooks going off to form their own party, thus ensuring Democrat defeat in 2012. As such, the Democrat party would rather risk a bad defeat in 2012 instead of being utterly destroyed as their party splits. So, we’re rather stuck. Hunker down, save as much as you can and be prepared for anything.
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