They do not call them depressions anymore. I think because the last one we had, was so bad the folks in charge of naming them, were warned by the powers that be, of dire personal consequences if they didn’t call it something else.

George Bush spoke today before the New York economic club, Seems he’s done his part its “other” folks to blame for the possible economic slow down, Gosh if we democrats and other disloyal Americans would simply stop emboldening the terrorists by failing to support his legislation.

George places his faith in the Fed and wishes to assure all he is confident of an economic rebound, not that we are in a recession mind you, rather “folks” are worried, And he wants to assure them he is optimistic despite the pessimistic gossip by the friends of Alkida in the congress. As someone who made his money in the market, I can tell you this, its worse than you can possibly imagine and then some.

To be frank I have mine, and while I am not your Uncle or the childhood friend you grew up with, I can give you this advice, buy some silver friend, I mean actual silver dollars and other liquidity. It may not get AS BAD as when my Grand father was my age and the banks closed, but I am telling you, if you are the average middle class American and do not have at least a half million dollars in net worth you can liquefy and the ability to tough out a year of being unemployed, read the grapes of wrath or watch the movie cause were headed down that path.

Unless Hillary Clinton or Barack Obama wins in the kind of landslide that entails a veto proof congress, Many of YOU will be standing in a bread line this time next year. Like I said I have mine, more then I will ever spend even in the most dire of economic cycles,

But many of you lack a clue on just how bad things will get in the next year, Keep always in mind it will eventually turn around, quicker I think with Hillary, but I am stepping aside on politics today, Barack is also capable of fixing the mess that the con man and his crew from Crawford will leave when Marine one lifts off for the journey back to his ranch, and though it pains me to admit it,

George Bush is not the individual responsible for the depression that’s coming this way, YOU are, sorry the only way the Republic will overcome the problem is by owning up and tackling the hurdles ahead. Many of you bought a home when you couldn’t afford it, and most of you bought more home than you could ever hope to pay off, Yes George Bush & company encouraged the foolishness, but we all have to accept our share in the mess to come,

Hell in the early 1980’s I lost my shirt when the Hunt brothers of Texas attempted to dominate the world silver market, My Grand Dad was alive at the time, he warned me and I wouldn’t listen.

I wasn’t even going to tell him I was so ashamed, but I come from an Irish Catholic family, he came to my office while I was looking at bills I couldn’t pay, I was hardly past twenty one and my dreams of retirement at 25 were in the dumpster,

I was literally broke and my condo was in foreclosure, and Mom was not going to write anymore checks,  He didn’t embarrass me, I am at that age where I need a personal assistant he explained, I know its an imposition but he had come hat in hand to ask if I would I consider moving in with him and helping him with the activities of daily living.

There is no such thing as a free lunch he would explain to me over the next few years, when he was young they would put air in the beer to cover the cost of the free sandwiches offered at lunch he explained, He had grown up dirt poor, never forgot what it was like to go hungry, saw too it while his children wanted for nothing, they learned the value of a dollar.

My Mom and Dad had spoiled me as some parents tend to when they have money, and he spent the last few years of his life instilling his financial ethic in me, When he died I could have invested the money he left me in several speculative deals that later paid off for those who did, I could have today been a whole lot wealthier than I am, but I could also have lost it all, 

I turned away from the quick and easy wealth men like George Bush promise and to be fair can deliver more often then not. I made conservative and frugal investment choices, It took another twenty five years of blood sweat and tears but his advice was the right choice at least for me, The only sure thing he would tell me is the cash you have in your pocket and the property you own out right, every deal, contract and business opportunity is speculation at its heart and you must treat it as such and avoid risking more than 10% of your capitol at any one time. It was difficult, remember yahoo and Google, GAWD I could have my own learjet today or I could be facing the next few years wondering if I will have a job and a roof over my head and food on the table. 

In Phoenix the house we bought cost a half a million dollars a couple years ago, In today’s market If  your lucky you might get half that if you could find a buyer to begin with, Gas will be four buck a gallon by the end of summer, Milk will be three bucks and a loaf of bread a buck sixty.

George Bush and John McCain are betting that more Americana’s than not will be so desperate by election time they can convince them they will essentially “loan” the American people enough money in the form of rebates, tax cuts and stimulus packages to ride out the bad times, Sadly the deception may work or enough republicans will retain seats to frustrate a democratic Presidents effort to undo the damage done by folks who have and have more. 

The Republics only hope for a quick turn around from the recession the GOP declines to concede we are in is to raise taxes on the wealthy, put an end to giving corporations a blank check and addressing the cost consequences of a society where too many people lack health-care and attend schools run by folks who think creation science is actually science.

That’s my view yours may be different