While Administration financial “gurus” insist that the recession is over, U.S. finance executives believe the American economy is still in recession. Most business executives are saying their firms will not resume hiring or capital spending in the next six months. In the meantime, the dollar is no longer the medium of exchange in the oil markets and is falling in international value while the price of gold soared to over $1,000 per troy ounce.
COMMENTS:
95 banks have failed, the FDIC is out of money, the national debt is at $12 trillion and Obama wants to add mandatory health care. Before Obama’s term is over, we could well be a third world country.
TODAY’S QUERIES & ANSWERS:
Q. Who is Michael Moore, anyway? (Sal – Colorado Springs, CO)
A. Who cares?
Q. Is it possible to have both a depression and inflation? (Al – Peru, IN)
A. Yes, and it’s quite likely that will happen in mid to late 2010. When the government starts printing more money, the value of money drops and prices therefore go up, but that doesn’t necessarily solve depression or recession.
Q. Do you think they will legalize marijuana in this country? (Bessie – Richmond, CA)
A. It’s really ironic, but they need the tax revenues to pay for their Health Care Plan.
TODAY’S QUOTE:
“Whenever a man has cast a longing eye on offices, a rottenness begins in his conduct.” - Thomas Jefferson
TODAY’S VIDEO:
http://www.youtube.com/watch?v=wOMDyvVJad0
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