[deMolay]

Not a rosy picture from this guy. http://www.gata.org/node/7601

[notill]

The author, Paul Craig Roberts, was assistant secretary of the treasury in the Reagan administration.

A good article, and another opinion pointing to the possible collapse of the dollar.

[Blacksmith]

Not a very pleasant picture, but I fear a valid one.

[threadbear]

Demolay--Hi buddy. My husband read that article last night and when he told me about it he looked kind of sick. Not that either one of us are surprised by the points made, but it's real doomer porn, isn't it? But life is beginning to resemble doomer porn. How is Calgary? Have you had any rain yet? Any drilling going on?

[Buggy]

Thank you for posting this. Yes, it's doomer. Yes, finally, somebody is telling the truth. If I hear one more story about the fed calling for the recession to be over by summer's end or here come more green shoots, I'm gonna puke. For those who want the truth and not the cornucopian, too big to fail, socialist, blind US patriotism, read Meltdown by Thomas E. Woods Jr. Oh, and start learning Chinese.

[Hoops_Mckann]

nothing else, nothing more, that is the end.











so long

[eastbay]

Meanwhile the U.S. government's budget deficit has jumped from $455 billion in 2008 to $2,000 billion this year, with another $2,000 billion on the books for 2010. And President Obama has intensified America's expensive war of aggression in Afghanistan and initiated a new war in Pakistan.


Why both the liberals and conservatives in the USA wanted more war is unfathomable. 98% of the US electorate selected the More War option last November. Completely surreal.

And the idiotic Wall Street bailout for the wealthy... wow ... I suppose any electorate stupid enough to fall for more meaningless war is stupid enough to fall for a trillion dollar handout to the rich. And those behind Obama know this very well.

[jbrovont]

Despite what has happened since the election, in some ways, both candidates tried to sell themselves as capable of "ending" the wars. On one side, McCain wanted to sell himself as the guy that could end it by winning it, and Obama on the other with a draw-down and leave plan - neither of which were feasible strategies for ending the war within a short time frame.

It is pretty surreal how many people believed their respective candidates had the right way to end the war. We'll never know what would ultimately have come of McCain's strategy - but he thought the way out was through, so expanded combat operations at least for the near future would have been likely. So either way, more war.

At the peak of the global economy in the late 90s, early 2000s, GDP was what - 20 some trillion? 23 seems to ring a bell, but I'm not certain. The more I learn about the state the US economy is in, the less real possibility I see for a realistic recovery. $4 Trillion in debt in 2 years - 8% of GDP - and that's when things were really humming along - who knows what GDP will look like in the near future - I just don't see how the US can spend 8% of all the production of the world and expect to pay it back. We don't make anything.

$this->bbcode_second_pass_quote('eastbay', '[')i]Meanwhile the U.S. government's budget deficit has jumped from $455 billion in 2008 to $2,000 billion this year, with another $2,000 billion on the books for 2010. And President Obama has intensified America's expensive war of aggression in Afghanistan and initiated a new war in Pakistan.


Why both the liberals and conservatives in the USA wanted more war is unfathomable. 98% of the US electorate selected the More War option last November. Completely surreal.

And the idiotic Wall Street bailout for the wealthy... wow ... I suppose any electorate stupid enough to fall for more meaningless war is stupid enough to fall for a trillion dollar handout to the rich. And those behind Obama know this very well.

[deMolay]

Hi Threadbear, yes even old Doomers are getting scared. The oil patch is pretty much dead in Alberta from what I can see, Blacksmith would have a better handle on that. But I saw about 3 drilling rigs all winter. None this year working in my area. Normally the small local town always has rigs passing through. Calgary the home of the Blue Eyed Shieks is in turmoil. Most rigs and drilling programs have switched to Manitoba, Sask., and BC. Locally home prices fell. Where last year there was 0 vacancy and many homes sold without going on the market, now for sale signs and reduced sale signs have sprouted like dandelions. I think if Stelmach doesn't face a Leadership Review this fall, and if he retains power the PC Dynasty will end very soon. The Progressively Constipated Conservatives have pissed away 65B of the Peoples Surplus Funds in the last 15 years, on top of spending like drunken sailors. Actually that statement is unfair to the drunken sailors. I have asked on radio callin shows about the 65B surplus but get no response. The next leader of Alberta will probably be a woman. A very well educated, articulate woman by the name of Danielle Smith. You can hear her speeches here. www.daniellesmith.ca When this new party was forming, I got involved and managed to have a Provincial Constitution wrote in as one of the Party Policies. Meaning that if they come to power they will go to the People of Alberta through Constituient Assemblies to get a Provincial Written Constitution that has been Ratified by Albertans as the Supreme Law in Alberta. Thus limiting the power of government in Alberta. If it happens this would be the first written constitution in N. America since 1776 that had been ratified by the people. Will it get watered down I hope not. Alberta per capita right now has the highest unemployment rate in Canada. The Chinese are moving in here, with investment dollars or US Debt money into the Oil Sands and coal fields. Stelmach has taken Alberta into deficit for the 1st time in 15 years. Albertans don't like debt, he is becoming very unpopular even amongst the farmers. Give a listen to Danielle Smith, a name that could be our next leader here. www.daniellesmith.ca

[EnergyUnlimited]

$this->bbcode_second_pass_quote('eastbay', '[')i]Meanwhile the U.S. government's budget deficit has jumped from $455 billion in 2008 to $2,000 billion this year, with another $2,000 billion on the books for 2010. And President Obama has intensified America's expensive war of aggression in Afghanistan and initiated a new war in Pakistan.


Why both the liberals and conservatives in the USA wanted more war is unfathomable. 98% of the US electorate selected the More War option last November. Completely surreal.

And the idiotic Wall Street bailout for the wealthy... wow ... I suppose any electorate stupid enough to fall for more meaningless war is stupid enough to fall for a trillion dollar handout to the rich. And those behind Obama know this very well.