Are You Prepared for "Financial Crash Part 2"?

How Deep is the Recession?

During the first financial crisis, many Americans were clueless about how much trouble the American economy faced. This time no one should be surprised that despite what you hear from the cheerleaders of the Obama administration, we are again on the brink of a deeper economic crisis. 9.9% unemployment is only good news in the liberal media. America somewhere between Greece and Venezuela.

10 reasons why:

1. Next year's budget sinking in deep red ink.
2. Pensions in Debt at Federal, State and Local LevelUS state pensions becoming federal issue.
3. What’s big, risky, and losing billions?
   Mortgage giants Fannie Mae and Freddie Mac need to go away.
4.  Problem bank list hits 775.
5. Unemployment continues to rise, retail sales are still slipping, factories have cut output to the bare bones and wages remain depressed. Jobless claims rise by largest amount in 3 months.
6.  Global Unrest and Uncertainty: Bangkok under curfew after fresh anti-govt violence. Strikes Violence in Greece. Falling euro influences U.S. economy, consumers, investors, corporations. Germany Shoots the Messengers. First thing we do, let's kill all the short sellers.
7. Democrats try to calm doctors’ lobby on $88.5B Medicare plan.
8. Mortgage delinquencies, foreclosures break records
   Mortgage delinquencies and foreclosures break records as foreclosure crisis fails to abate.
9. Loan demand to buy homes sinks to13-year low.
10. Volcker Says Time Is Running Out for U.S. to Tackle Fiscal.

A Government Not up to the Task

The Obama administration and the Democrat led Congress keep spending, and accumulating power for government while America’s economy tanks. They ignore a basic truth that “you can’t spend your way out of debt to prosperity”. Either they are woefully incompetent, or they are deliberately destroying capitalism to “change” America into a socialist “nightmare”.