new >>> Mar 11 - The Road to Hell is Paved with Bailout Money
http://reasonradionetwork.com/_archive/EJS_20090311.mp3
"The problem with socialism is that you eventually run out of other peoples' money."
--- Margaret Thatcher, conservative former British Prime Minister
The road to Hell, they say, is paved with good intentions. Call me naive, but I like to think that Barack Obama had the best of intentions when he signed off on his recent bailout ("Economic Stimulus") package.
For years, long before the good times even peaked a couple of years ago, I have predicted:
1. The now-in-progress crash of the housing market, which I insist will bottom out at about 10% of the peak values of 2006, just as it did in Depression I.
2. The now-in-progress crash of the stock market, which I estimate will see the underside of a 2,000 Dow before it begins to trade sideways in earnest.
3. Depression II, which already has begun, but which will not be acknowledged officially for a year or two.
4. World War III, which also already has begun, but which will not be acknowledged officially until the first nuclear weapon is exploded, causing an unprecedented ramp-up in hostilities.
The Devil You Don't Yet Know
But, as I like to say of the contents of my book, Defensive Racism, it isn't the predictions I made that have come true that should disturb you - it is the predictions I made that have not yet come true that literally should terrify all of us. Predictions concerning America's coming race wars and her breakup, much as the Soviet Union "balkanized" along ethnic lines. Predictions concerning America's defeat in the coming World War. Predictions for the rise of what I call "New America" from the ashes of our now-terminally-ill nation.
Face it. Hardly anybody was saying the things I said when I first started saying them. Practically everybody laughed at my "ridiculous" pessimism then. Now, those same people are saying pretty much the same things I then said about things economic. Today, they still are laughing at my projections for the future, even my economic projections, which clearly are on track to be proven conservative, if anything. Ask yourself: based upon results, to whom should you be listening? You be the judge.
Well Done Mr Steel!!!
