I have an uneasy feeling our nation is 4 to 6 months away from very real social unrest. These band-aid solutions from Bush and now Obama only buy a little more time. At some juncture, China will stop funding our debt and call in their markers. Then what?
Also, the oil speculators of 2005 through 2008 should not be forgotten. Fuel prices were held too high for too long. Artificially high. These folks plunged the dagger into the US economy, robbing it of trillions. The housing bubble burst and the banks failed only after the oil speculators extracted every last nickel they could get. Why don't we know their names?
We have become a debtor nation. And a spoiled nation. Totally unaccustomed to hardship. Hardship is coming.
Also, the oil speculators of 2005 through 2008 should not be forgotten. Fuel prices were held too high for too long. Artificially high. These folks plunged the dagger into the US economy, robbing it of trillions. The housing bubble burst and the banks failed only after the oil speculators extracted every last nickel they could get. Why don't we know their names?
We have become a debtor nation. And a spoiled nation. Totally unaccustomed to hardship. Hardship is coming.