Would Al Smith want to be the president in 1928 if he KNEW the great depression was coming?
A former DOL Labor Secretary said “Party that wins White House could become minority party for many years if, as seems increasingly likely, world enters recession in 2013. ”
Hoover’s 1928 victory was sweeping….
Obama is 50 years old.
Young for a president.
Missed the Golden opportunity in 2008-2010 when the Dems had all three parties.
Now stalled by the Young House Reps and Mitch McConnell.
How do you get that majority back?
Let Hebert Hoover-Mitt Romney win.
Let the country go back to 10% unemployment.
The politics of madness.
Hoover -Romney will take the blame.
This 1932 map could be the 2016 election results.
With Obama coming back like Grover Cleveland.
Four years to raise money.
Bill Clinton knows fiance.
So does Dem backer Soros.
Soros, Leon Cooperman, Louis Bacon liquidated positions in JPM, C, and GS.
Soros no longer has any positions in major financial names.
Follow the money.
How long can Germany keep propping up Spain, Greece, Italy, and Portugal.
Euro collapse or Germany withdrawal means recession.
Many think Greece exits Euro Zone in 2013
Portugal will exit Euro afterward,
Spain’s recession will drag on into 2013. Spain has a lot of problems and eventually Spain could exit Euro Zone.
Italy’s recession will drag on into 2013.
Britain’s economy will see near zero growth for 2012, according to slashed Bank of England growth forecasts.
By 2013, we could have a perfect storm of risks to the economy.
Or Sequestration hits. (see previous post)
CBO has forecast a recession resulting from the fiscal cliff. In January it saw 1.1 percent GDP growth in 2013.
Gross, who runs the world’s biggest bond fund at Pacific Investment Management, said the US was “approaching recession when measured by employment, retail sales, investment and corporate profits”.
Recession 2013: Clinton’s Take
In a taped interview that aired in June 2012 on CNBC’s “Closing Bell,” former President Clinton said he thought the U.S. economy was already in a recession.
Clinton called out Republican efforts to cut the deficit, saying they jeopardize the country’s chances to get out of the debt debacle.
“What I think we need to do is find some way to avoid the fiscal cliff, to avoid doing anything that would contract the economy now, and then deal with what’s necessary in the long term debt-reduction plans as soon as they can, which presumably would be after the election,” Clinton said.
“They will probably have to put everything off until early next year,” he added. “That’s probably the best thing to do right now.”
Clinton made the unexpected endorsement of extending the Bush tax cuts but added that he is not in support of extending them for the wealthiest. This echoes the fundamental idea behind the Buffett Rule.
Clinton was also quick to blame Europe – saying “this European thing that’s having a bigger impact than people know” – and politics for the current economic mess.
“The thing that cost jobs here has been the Congress’s policies,” said Clinton.
So the smartest minds.
Throw an election.
Obama people gasp.
The horror is unfathomable.
Sorta like a nuclear bomb in 1945.