The Next Great Depression

Thursday, October 7, 2010 \PM\.\Thu\.

I was provoked by Tito’s recent post with a great cartoon on the economy. Like him I am greatly concerned about where the U.S. Dollar, our economy and country are headed. This post is related to an earlier post that Christopher Blosser and I co-posted on the Austrian School of Economics. Let me state from the beginning that I am neither an economist nor a certified financial planner. My opinions are worth the value of the cyber ink you are now viewing. It seems clear to me though that our economy is heading into a double-dip recession and possible depression, which is actually calling it what it is. I don’t see how the current policies and actions of the Treasury Department and Federal Reserve are helping the common man. The rate of interest for savings is so minimal now and for the foreseeable future that it can be compared to the sand under the ocean, not the raft-boat on top of the waves. Therefore what can we do to not lose and potentially grow our savings?

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Hope and Despair

Thursday, October 7, 2010 \AM\.\Thu\.

The above video by Ben Howe neatly encapsulates why the Democrats are going to take a historic beating next month.  If a politician runs on a platform of Hope and Change he better deliver plenty of both.  Obama has delivered despair and a magnification of the trends that got us into the economic and fiscal morass we are in.  No one likes to be the mark of a con, and I think that a majority of voters now are firmly convinced that a massive con was played on the nation in 2008.

Josh Kraushaar at Hotline gives us a peek of the electoral storm that is in the process of being unleashed:

But when you look at the national polling metrics and the race-by-race picture in the House, there’s little evidence of any Democratic comeback. If anything, Republicans are in as strong a position to win back control of the House as they have been this entire election cycle.

Much of the newfound glimmer of hope comes from a misinterpretation of polling data released by Democratic campaigns and the Democratic Congressional Campaign Committee. Many of the polls aren’t all that encouraging for Dems, but have been spun to present a misleadingly optimistic picture. Read the rest of this entry »


Lepanto

Thursday, October 7, 2010 \AM\.\Thu\.

White founts falling in the Courts of the sun,
And the Soldan of Byzantium is smiling as they run;
There is laughter like the fountains in that face of all men feared,
It stirs the forest darkness, the darkness of his beard;
It curls the blood-red crescent, the crescent of his lips;
For the inmost sea of all the earth is shaken with his ships.
They have dared the white republics up the capes of Italy,
They have dashed the Adriatic round the Lion of the Sea,
And the Pope has cast his arms abroad for agony and loss,
And called the kings of Christendom for swords about the Cross.
The cold queen of England is looking in the glass;
The shadow of the Valois is yawning at the Mass;
From evening isles fantastical rings faint the Spanish gun,
And the Lord upon the Golden Horn is laughing in the sun.

Dim drums throbbing, in the hills half heard,
Where only on a nameless throne a crownless prince has stirred,
Where, risen from a doubtful seat and half attainted stall,
The last knight of Europe takes weapons from the wall,
The last and lingering troubadour to whom the bird has sung,
That once went singing southward when all the world was young.
In that enormous silence, tiny and unafraid,
Comes up along a winding road the noise of the Crusade.
Strong gongs groaning as the guns boom far,
Don John of Austria is going to the war,
Stiff flags straining in the night-blasts cold
In the gloom black-purple, in the glint old-gold,
Torchlight crimson on the copper kettle-drums,
Then the tuckets, then the trumpets, then the cannon, and he comes.
Don John laughing in the brave beard curled,
Spurning of his stirrups like the thrones of all the world,
Holding his head up for a flag of all the free.
Love-light of Spain–hurrah!
Death-light of Africa!
Don John of Austria
Is riding to the sea.

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Open Thread Thursday – Never Let A Serious Crisis Go To Waste

Thursday, October 7, 2010 \AM\.\Thu\.

As humorous as this editorial cartoon may be, I still pray each and every day for the economy to improve.

This is the worst recession I’ve ever seen in my short time on earth.