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In the middle of signs of the end of economic recession, there comes the threat of depression of the worst kind in the last two hundred years
The economy has started improving, say the same economists who for years predicted little chance of economic recession in US. It is true that orders for durable goods and home sales probably rose in April as the worst U.S. recession in at least half a century started to loosen its grip. But there lies serious problems in the public sector that can drag the economy into a horrible recession because of massive faults of Obama and Bush Administrations.
The point is simple. The Government is broke. The false hope of getting back to status quo through massive supply of borrowed money worked to stabilize the economy. But now the third of a third down wave is about to start. This time the Government at all levels and their infrastructure will collapse creating massive chaos.
The debt level of the US Government has reached seventy percent of the GDP. The mismanagement of money and fiscal policies by the Bush and Obama Administration has reached a cataclysmic proportion. The next wave can be very serious.
The economists believe that stabilization in housing and manufacturing, the two areas suffering the biggest contractions, will help ease the economic slump. Still, gains will be difficult to sustain in coming months as banks remain hesitant to lend and unemployment climbs, underscoring projections from Federal Reserve officials and private economists that a recovery will be subdued. However, that is the best case scenario. Econometric indicators points to severe sever depression due to debt loads and fiscal strains the system.
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