By: George Krum | Sun, Sep 9, 2012
The depression and panic will come before the current administration goes out of office. Nothing can prevent it. Our government debt is almost as great as the debts of all the balance of the world put together. With this burden of debt and the government expenses, how can a panic and depression be prevented?
The United States has been the greatest spender and the greatest waster, and the taxpayers will be the greatest losers. I believe the Bible when it says that you shall reap just what you sow. The current administration has given away hundreds of billions of dollars, and the result will be a panic and depression which will shake the foundation of this country and cause the voters to vote out the Democrats. It will be too late to do anything after the crash comes. Taxpayers have it in their power to stop this expense if they will organize and do something about it before it is too late. If spending and giving away continues, as it is at the present time, it will just be a matter of a short time before the government will begin to confiscate property and everything else.
There will be many causes of the next great depression. Greece is broke, and most all of the other countries in Europe are in the same fix.
Japan, China and India are in a bad financial condition and are likely to get worse if Communism continues to dominate China.
The United States debt is a great burden which cannot be overcome. The wasteful spending of our government has already cause irreparable damage and even if it should stop now panic would come anyway.
Foreign investors are already selling stocks in our market and have been for some time.
The investors in the United States nearly always sell in the last stages of a bear market. When business men and investors in the United States lose confidence in the government’s ability to prevent a depression then matters will get worse because business and the stock market held up as long as people have confidence.
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