Let's face up to the hard TRUTH America!
For most, the numbers have been "down" on the Markets since October 2007. The Jury is still out with respect to the length and depth of the "R-word" (recession). Housing prices will continue to drop (until 2010 at least). Concerns about the 2008 Presidential election, should be part of everyone's thinking agenda:
Hillary is now "history". Why? While the Kentucky and Oregon primaries are but a week away, the West Virginia primary has passed into the rear view mirror. There was no surprise. The state's demographics favored Clinton: West Virginia voters are older, less educated and overwhelmingly white -- groups which have flocked to her in past votes. But the results will do little to change the course of the race for the Democratic nomination for President. The delegate math favors Obama: increasingly, the superdelegates are moving into the Obama camp. He gained 30 in just the past week, negating any concrete advantage Clinton might have had from the 16 or more pledged delegates that she won in West Virginia. So, while the thrashing in West Virginia may be embarrassing for Obama, he still leads vs Clinton (by any tangible measurement) in: pledged delegates, superdelegates and the popular vote -- and there just aren't enough contests left for her to catch up.
So, there are but 2 choices:
1) B. Obama.
Socialist. Massive new social program spending and much higher taxes. Probably would get us out of Iraq very slowly. No economic understanding at all. Never worked in a private enterprise company. Lifelong Government employee.
2) J. McCain.
Basically G.W. Bush with a different last name. The gent has said that he knows very little about economics -- indeed, he has no economic understanding at all. He would probably would keep us in Iraq -- indefinitely. McCain, a former P.O.W. -- who better than he to condemn the use of torture (yet he wouldn't). He has NEVER worked in a private enterprise company, in-as-much-as he has also been a lifelong Government employee.
Both face a tidal-wave of Social Security and Medicare spending as 78 Million "Baby Boomers" reach retirement age. Neither one has a clue on what to do about it.
Both favor amnesty for illegals. That means that the "legals" get to support 20 Million "illegals". Both don't believe in the enforcement of US immigration laws.
Both (strongly favor) an array of "bunny-hugger / tree-hugger" causes and actually believe in Al Gore, the scientist. Congress will remain under Democratic control. Corn Ethanol subsidies and tariffs on Brazilian ethanol imports, stay put. There are 26 farm states, and they put Bush in the White House, twice. Food inflation will worsen. There will be no new drilling for oil and gas in US territory. Higher energy cost trends will persist. There will be major spending on alternative energy programs and things that support "Al Gore" belief science. Gasoline will reach $10 per gallon (for sure). Hydrogen hybrids might reach us (eventually). CO2 will continue to fill the atmosphere. Trees in the tropics will be felled. Populations will grow. Seas will rise.
The Trade Deficit is destined to stagnate over $700 Billon -- the highest, as a percentage of GDP (gross domestic product ) in the world. Both candidates avoid discussion about how to have a positive trade balance or a balanced budget.
The situation is deplorable, and unsustainable.
The Iraq war is another Vietnam. Neither country ever attacked the USA. Thus far, there have been 4,000 dead Americans in Iraq. Vietnam's toll was 58,000. It's a complete waste of American lives and money. Like Vietnam, Iraq never was a threat to the USA. No foreign power has ever occupied Iraq or Afghanistan successfully. This time is no different. Afghanistan is already back to being the top Heroin supplier in the world. Waste. Wanton. Wrong.
Take your pick, Obama and McCain are both destined to author more economic trouble -- perfectly capable of causing another Depression.
As an intellectual and a businessman, I have never been this P-E-S-S-I-M-I-S-T-I-C about the outlook for the US economy as I am today. My Choice? None of the above.
Perhaps a stray dog?
Kudos to: Donn & Russ for their contributions, as astute Thinkers.