Say it ain't so! Lefty says we're double dipping!!!


Obama the new Nero?

Robert Reich, as far as you can get from a right-winger, is saying we are beginning a double-dip recession. Yours truly has been saying this was going to happen for over a year. The data is just too convincing. Here is Mr. Reich’s blog on the matter here. Personally, I am not very interested in his points other to to link to them for verification purposes. Here are my points:

1) the four ‘Big’ banks have a shadow inventory of more than all of the homes they have taken back since 2005.

2) the Alt-A wave is upon us.

3) the only thing keeping the housing prices from sinking quicker is the tax credit

4) banks still haven’t come clean with their losses

5) Europe is imploding

6) The debt Obama has added onto the National Debt is about $4 trillion in 18 months.

7) about 90% of the new jobs were created by temporary census jobs. And the Feds hired 3X what they have in the past!

Should I go on? Our leaders are playing stupid “smoke and mirrors” games with us as our economy is sinking. That’s is exactly what this Obama White House’s fixation on Robert Schiller’s “Ani Forget Jimmy Carter…Obama is looking to be the worst leader since Rome’s Nero when he fiddled as he watched his empire burned.

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