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Originally Posted by abaya
Do you really think that could be worse than the last 8 years?
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Yes, I do. I remember the Carter era too. Interest rates at 15-20% (maybe more), gas lines, unemployment and inflation. I ended up in the Navy because there simply were no jobs in my area. Even flipping burger jobs weren't a given. I think it's completely possible the next 5-10 years could be worse then they are now. But to me it's question of which candidate I think can guide us through what I think might be some really hard times ahead. Since I sincerely believe Bush and the GOP's policies have created this mess I don't think someone who's agree with Bush 90-95% of the time is the person to get us out.
I read stuff like this:
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With the economy weakening under the impact of the yearlong financial crisis and housing recession, and consumer prices rising, most investors anticipate the Fed will keep interest rates unchanged through December. Policy makers have lowered the rate 3.25 percentage points over the past year.
The picture of the economy ``is a troubling one,'' John Ryding, a former Fed economist who now runs RDQ Economics LLC in New York, said in an interview with Bloomberg Television. ``We could see the economy languishing or move further south and at the same time see inflation pressures remain elevated -- and that's stagflation.''
While prices of energy and other commodities have declined recently, the Fed said companies in the San Francisco district, the largest region, reported that ``upward price pressure remained significant,'' while ``price levels remained high'' in three other districts. Philadelphia-area retailers saw ``rising wholesale costs,'' the Fed said.
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http://www.bloomberg.com/apps/news?p...waE&refer=home
And I see an economy headed down hill fast. I don't see how continuing on the course that got us here will help us out.