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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (45271)	11/20/2008 2:24:11 PM
From: koan	Respond to of 149317

I sort of see the same thing, I just do not if my vision is correct. Everything is falling so fast and it truely is a collapsing house of cards. There will be so many tax write offs and business failures, how do we rebuild, or even pay our debts without inflationg our way out of it vis a vis devaluing the dollar and inflating our way out of debt? Where does our revenue come from for the next several years? It looks like a barren landscape to me. Bush has left this country in a heap of dust. Destroying everyhting. I think we are in for a gut wrenching time. Most people alive today do not remember soup kitchens or shanty towns. I feel we are starting to see some hesitancy about the dollars value. >> It's a minority but growing view, including from 86-year old former Goldman Sachs chairman, John Whitehead, at the November 12 Reuters Global Finance Summit in New York. As disturbing evidence mounts, he said: "I think it would be worse than the depression. We're talking about reducing the credit of the United States of America, which is the backbone of the economic system. I see nothing but large increases in the deficit, all of which are serving to decrease the credit standing of America. Before I go to sleep at night, I wonder if tomorrow is the day Moody's and S & P will announce a downgrade of US government bonds. Eventually (they'll) no longer be the triple-A credit that they've always been. I've always been a positive person and optimistic, but I don't see a solution here." Powerful words from a man who "want(s) to get people thinking about this, and realize (we're on) a road to disaster.""'