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72% of Democrats, 84% of Republicans and 80% of Independents Think the Economy Could Collapse
A new national telephone poll conducted by Opinion Dynamics Corp. for Fox News concludes:
Most
American voters believe it’s possible the nation’s economy could
collapse, and majorities don’t think elected officials in Washington
have ideas for fixing it.
The latest Fox News poll finds that
79 percent of voters think it’s possible the economy could collapse,
including large majorities of Democrats (72 percent), Republicans (84
percent) and independents (80 percent).
Unfortunately, it already has, although Bernanke, Summers and Geithner are still trying to hide that fact.
One more time, from the top ...
Consumer spending accounts for the lion's share of the economic activity. The economy cannot recover until trust is restored. Trust won't be restored until the fraud actually stops, the criminals are prosecuted, and the fox is fired from his role as chicken coop guard.
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Fox News glaring omission: the Canadian doctor who referred the ONE Canadian bureaucrat to heart surgery in the US: both should have been the highest of highest profile guests in Fox this past weekend. Rupert Murdoch and Roger Ailes should have spared no expense. Where were they?
If we were going to blow a big pile of borrowed cash, and we were forced at gunpoint to let the governement decide where to blow it (since, if you think about it, that's what has been going on) it would seem crash programs in becoming an exporter of cutting edge nuclear power generation technology, or batteries for solar and green cars, or refitting the nation's rail system, or nanotech or any of a couple zillion other job-generating projects would have been better than the noble project of saving the investment bankers so they could live to rape and pillage again. What a colossal cluster f**k.
This morning on HLN: "if China's real estate bubble bursts, it could have a harmful effect on Chinese appetite for US exports." (Huh?!?!?). Through the looking glass.
"The economy cannot recover until trust is restored. Trust won't be restored until the fraud actually stops, the criminals are prosecuted, and the fox is fired from his role as chicken coop guard."
While this is true, the fox/fed is floating the idea of simply having the chickens moved into the foxhole. Chickens, on the other hand, are searching for the traditional tar and feather recipe.
The economy is on a respirator now. Pull the plug (QE, stimulus) and the patient expires. Leave the patient on the respirator, and she expires with a more painful death. It's a catch-22.
"Unfortunately, it already has, although Bernanke, Summers and Geithner are still trying to hide that fact."
Reply:
You said it all.
How long until the civil unrest begins?
I would bet with 2 to 3 years
What is this "Trust" you speak of, can I buy some?
Well duh.
Everyone knows that 73% of all statistics are made up on the spot.
Excellent article GW and this is precisely why "In Gold We Trust". When all else fails, even the most wealthy people in the world (the Rothschild family) says to hold on to your gold bars. If it is good enough for them...
They had their minions sell the people of England's gold at the bottom, $250, to them.
In the USA, the bankers just outright stole it.
No wonder the dollar and the Dow are going up!!
Ben & Tim stand at the helm!!!!!
The headline should have finished;
... and 99% don't know how to protect themselves.
Or, won't.
I know a few people who have some grasp of what is coming and have a clue about what to do but have taken no action and have not modified their hedonistic lifestyles. One close friend who just retired and has an endangered pension, and money are you ready? In a BANK. He told me he "didn't want to hear any bad news." Okay. Live through it instead.
"Ohh I am sure that they know what to do".
That's exactly the response that you'll get from the cattle. "They".
Would someone, pray tell, please tell me who the phuck are "they".
This is an example of that childish fairy tale thinking that is pervasive in Amerika.
Another example of fairy tale thinking:
"This is Amerika. We're a resilient and creative people. I'm sure we'll figure out a way through this. Afterall, we made it through the Great Depression"
Ahh, the myth of Amerika's infallibility. We're Amerika, so nothing bad can happen. Yeah, OK. Nevermind trying to tell the cattle that they (the Greatest Generation) got through the depression, and their bratty offspring have none of their rugged qualities.
Cognitive block #3:
"Ohh I've heard this before. You're a Y2K doom and gloomer. While the world didn't end then and it sure as hell isn't going to end now".
Ahh yes. Everyone got worked up about Hurricane Floyd in 2003 and nothing happened. Stop panicking. Katrina is nothing to worry about.
These are examples of the reasoning capacity of CHILDREN.
The contrarians will have a field day with this one.
No need to fix it, the framework for the new global economic model is already in place. Global emissions trading, and it will be a done deal before the next presidential election.
"We are at the point right now where no one trusts the American housing finance system."
- David Stevens, FHA commissioner
The problem is not so much a collapes in the economy as a collapse in credibility.
Somehow we are supposed to ignore what we see and believe what our community organizer reads off the teleprompter.
"We are at the point right now where no one trusts the American housing finance system."
And no one should, because nearly everyone who participated in it cheated or scammed — from brokers, loaners, appraisers, sellers, buyers — yeah, like all the predatory buyers sobbing now — highly leveraged and speculating in a market they knew nothing about, just transferred their euphoria from the dot com to real estate.
frank luntz says "xyz", then asks 'how does that make you feel' while Fox "News" says "some people think / say that so-and-so is an [insert here] bc of xyz. what do you think" ... its all about how you ask / frame the question.
What do you mean could? This is like a person freaked out on LSD writing about why brown M&M's smell different than blue M&M's to every question on the SAT saying they COULD fail the test.
The economy has collapsed. But lets face it, we never recover from the Dot Com crash, we just papered over it. Just like they are trying to paper over it again. The problem with honesty is having to admit to the world that we are broke as a joke. And then all of a sudden Americans have to live within their means and compete to produce. This ponzi is just as much about bilking foreigners as it is about bilking Americans. No one wants to see the ponzi because it means their lives and their jobs very well could be built on a malinvestment lie. It's my impression that the masses won't changed until they are clubbed and beaten by reality, and that will be a little late for America to remain at the top of the heap.
I suppose as a positive at least most people won't be able to say "Oh my God I never saw it coming!!!"
In 1920 President Harding reduced federal expenditures by 20%. That's the last time any of the dolts in Washington did anything right.
Shameful. 90+% of the American public is going to do EXACTLY that.
"Ohh my God, I never saw it coming!".
This poll doesn't jibe with my everyday experience. Most folks are clueless. Most folks still think that we're on the gold standard.
Actually, we never recovered from the Great Society budget time bomb of the late sixties and the oil shocks of the early seventies, and have been running on bubbles and borrowing ever since.
Shameful and sloth have parts of the story. It began with FDR. Pretty easy to determine that the problem and promises would increase parabolicly.
Early years were great. FDR did an Obama and collected the tax for two years before starting payouts. Wanted a sound Trust Fund. Max was $30 a year for both employee and employer, $60 total max. One half of a week's pay. Not too much if you never got anything for it, when the widows needed just a bit to eat - no food stamps then.
LBJ had the bulging Trust Fund surplus cash to spend. Ignore the build up in liabilities. He was a vote buying pol, not an actuary.
The dot.com bust really was unreal. People making hundreds of millions from a 10 employee company going public. And it filled the tax coffers with the taxes. Never mind that the employees never got to sell the stock options they had to pay the taxes on. I 'm sure that there are still people with loss carry forwards that will cover all their profits for several more decades. Bush ends up with the Clinton bust, but all the taxes on the profits have been harvested and the big gains are pretty much tax free because of the carry forwards. Easy Al to the rescue.
Now, just as the boomers are about to start collecting on the IOUs, another economic bust. We have Unfunded promises that are overwhelming in the first place with a large part off the population contributing nothing and living off of entitlements while the Chinese do their work.
I'll argue it began in 1913 with the Fed. The 20's boom/bust was largely the fault of easy money policies. I'll agree that FDR was disastrous for the country. He effectively changed the way the court looks at the Constitution via the commerce clause.
Though I'll agree with an above comment that LBJ really did us in. LBJ drove a steak through the heart of the US. His policies of guns and butter doomed us. We have been cannibalizing capital and our good name since them. A reputation we earned by having hte only intact manufacturing base after WW2. Hell I really don't care for Nixon but really it was following LBJ's insane policies that forced us off the gold window, otherwise the US would have burned through all it's gold and defaulted officially in the 70s instead of defaulting by not paying gold out.
Your right that the boomers are screwed. We can't pay for them, math says so. We are reaching the end of this game. We should be in a deep deflationary depression, and it should purge the malinvestment. However as we have at 40+ years of malinvestment to purge for most it's far to scary to consider doing so. Our "leaders" have a choice, brutal correction of malinvestment or currency death. In either case the promises of the good life that has been made will be shown to be nothing more then a dream.
As the world changes eventually the foreigners will decide they can go it alone, and the American empire will find itself in the dustbin of history.
+1000 Guns and butter under LBJ strained the gold standard to oblivion. The French called us on our bullshit so what do we do?
Change the fucking rules. No gold. Paper!
The result was the elimination of any remaining remnant of monetary discipline.
Flash forward, 2010. Running out of credit. What do we propose to do?
Change the fucking rules!
Goodbye reserve requirements.
Same shit, different era.
100 percent of the first two groups also think everything would be fixed if just more of their boys were elected
exactly! when will america realize this is a one party system? the FRB party...
exactly! when will america realize this is a one party system? the FRB party...
+1
I so terribly agree with this.