Posted By:
Ted ZanidakisOur economy had been "perking" along just fine, until this so-called "Sub-Prime" problem surfaced.
Then the "media" jumped on it and did their usual "doom-n-gloom" rabble-rousing. The actual num-
bers of the homes in possible foreclosure situations are approx. 1/1000....that translates to 0.1%.
And, the media is crying "woe are we". Let's get serious, people, the media and the oppsition party
will always "TALK DOWN" the economy, irregardless of its status, during a national election year.
The main criteria for a "depression" or even a "recession" is the employment numbers. This country's
employment force is 95% WORKING....let me repeat....95% WORKING. That translates into 140 Million
employed.
To put everything in the proper perspective, during the Depression, the US was suffering with 20-25%
UNEMPLOYMENT.During the late 1970's (the Carter "malaise" years), unemployment was approx. 10%.
The 0.1% homeowners (mostly in California) that are facing foreclosures have either been irresponsible
or have dealt with irresponsible lenders.
The current OIL crises that we are experiencing was predictable, because we (our politicians) have re-
lented to the idiots who will not let us dig our own Oil within the territories of our own country. We just
have to show the rest of the world that we are going to get serious about mining our own Oil; and, I'll
guarantee you that this will drive the price of Oil down. It might take years to implement our Oil mining
facilities; but, it will instantly alter the thinking of the Oil producers throughout the world.
T-Rex TED