Can You Say ‘Stag-flation’?

You remember the 70’s don’t you? Those were the great old days gone by of gas lines and food shortages.

It brings a tear to my eye.

I have fond memories of my dad being out of work for 20 months at a crack, as we survived on a meager unemployment check, while my mother was forced to stand in line at the city hall, in the freezing cold, for food stamps. I was 7 years old.

Yeah, those were the days weren’t they?

Well, for all of you economic martyrs out there who still think “W” has all the answers, and enjoy financial suffering as much as I do…get ready for part two! Only this time, we have no manufacturing base to fall back on, no savings, record revolving debt, and we’re relying more on foreign capital to drive our economy more than ever before. Sprinkle in a shit-bag mess of a war that has cost hundreds of millions, and you have the making of a stagflation my friends – the likes of which we haven’t seen in thirty years.

The signs are all there – record high employment figures released today, 1 million homes in foreclosure, the U.S. Treasury Secretary trolling in foreign countries for investors, and the Dow sliding almost 400 points for a record 3.1% single day correction.

By the way, in case you are wondering, and I know you are, stagflation is when you experience a recession and inflation at the same time.

Oh goody!!!

I’d like to thank all of the neo-cons out there, especially our President and his ‘advisors’, who managed to take Bill Clinton’s economic Cadillac and turn it into a 1979, brown Ford Pinto, with a green door and loud exhaust.

You gotta give Bush credit. It is damn tough to pull off simultaneous negative growth and skyrocketing prices after inheriting a balanced budget that was paying down the national debt, but hey – he did a hell of a job didn’t he?!

I’m waiting for the wheels to fall off anytime now.

Come to think of it, maybe they already have.   

P.S. I’d also like send a shout out to my Democratic Congress for being ‘all show’ and ‘no go’ as they continue to do absolutely nothing of significance as well. Good show folks. So much for the ‘change candidates.’

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Filed under Economy, Energy, George Bush, Politics, War in Iraq

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