I sort of think I'm with Punkin on this, I don't say that all too often, but unfortunately this assessment is spot on. In the Boston Globe yesterday a chief economist said we were in for the biggest recession since WWII
http://www.boston.com/business/articles/2008/03/15/recession_is_here_economist_declares/
A blip:
The following appeared on Boston.com:
Headline: Recession is here, economist declares
Date: March 15, 2008
"The United States has already slipped into a deep recession that
could be the most serious since World War II, said Martin Feldstein,
president of the Cambridge group that is considered the official word
on economic cycles."
I was at a party Saturday night. Our little group has none each other over 20 years and we regulary get together.
A couple comes in and the husband looks like he's aged 20 years since I last saw him in December.
I get the whole story later on. They're going to lose their house. Foreclosure will start in a 2 months or so. How they got to this point is doozy.
Several years ago, their son had a brain tumor and had to have surgery. While the son was in intensive care, the father had a massive heart attack and had to had a quadruple bypass. Just as a preemptive strike for the "personal responsibility crowd", they had insurance. As is common with most policies, it is capped at $1,000,000 or so.
They get the bills. There was nearly $2,000,000 in hospital/surgical/drug bills. Their insurance only covered up to $1,000,000. They owed nearly $1,000,000 in bills.
They tried to work out a settlement. The various groups sued them and it cost them a fortune in legal bills. Finally, they declared bankruptcy/
Sure, they should've sold their house, but frankly, there is something obscene about forcing a family to sell their home because of medical bills. I know the "anti UHC" bunch doesn't grasp that concept and that wasn't for their benefit.
So they're trying to settle the bills, his business goes south, and she loses her job.
And they're a few months of losing their home. Their story is just one of millions.
The depression is coming only this time it will take all those $50,000 millionaire who've been voting for the Republicans. A president can't do anything? That was Hoover's excuse. The Republican party is still the party of Herbert Hoover.
Tell the generation that lived through the depression what FDR did for them. Tell them that no president can do anything about a depression. Then get out of the way as they laugh their ***-es off.