I’m more than a little nervous about 2009. We have what Glenn Beck calls “the perfect storm” coming, and I have little faith that Obama will be the right kind of leader to fix it.
We have an economic meltdown brought on by retarded government policies set in motion by Bill Clinton and furthered by greedy financial companies bent on making a quick buck and then making a quick exit. Countless people got rich and then bailed, using the means provided by the Fair Housing laws.
So we basically have a government now that faces high unemployment, lower tax revenue, and basically no way to raise new money. Foreign countries are struggling as a result of our recession, and even if they weren’t, the probably wouldn’t want to invest in a sham economy based on worthless paper.
Add to that the almost inevitable terrorism that will occur in 2009 in the US, and you have the final nail in the economic coffin. The economy will dive further, more people will lose their jobs, and bankruptcies both personal and corporate will occur at the fastest rate in history. Those who are wealthy and have money in their mattresses will be fine, of course.
Your government, the one who promises hope and change, will resort to the “same old” things we’ve done before, like printing money like it’s going out of style, starting humongous social and infrastructure projects in an attempt to re-employ people, and generally promising that everything will be ok. However, this time, those same old tricks won’t work.
Also going bankrupt will be the states. Roads and infrastructure will crumble, but the feds money-printing will do nothing but spin the economy into hyperinflation, the likes of which we’ve never seen. Your money will become literally worthless, as far too much cash is injected into the system with nothing backing it up.
The government will attempt to subsidize everything to hold off the wave, but with unemployment reaching 20%, the tax base just won’t be there anymore. Finally, the inevitable happens – bread lines, poverty, people living in tent cities. The government promises to fix even this – but the only way to fix it, they will say, will be to truly nationalize the entire economy. The government will take over all private industry. This will mean jobs for everyone, but the end of American ideals and freedom.
The Great American Experiment will end in despair.
The only way to prevent what I just described is to take our medicine now. Right now. The bailouts have to stop, no matter what. Companies that are stupid and can’t make a profit MUST fail. It’s the fundamental basis for our entire way of life. Smart, innovative, competitive companies succeed and stupid, crappy companies fail. If we refuse to let them fail to preserve jobs, all we do is ensure that the entire economic system collapses and EVERYONE loses their job.
Better, stronger companies who can do things more efficiently will rise up and take over where the big stupid companies left off. The adjustment will be painful, and people will lose their jobs, and things will be rough – for 4 or 5 years. If we don’t let nature take its course – my prediction is that the America we know today will be completely gone within 20 years.