The American voters who are anti-Obama [meaning concerned, against socialism, anti-big government and who can't wait to vote in 2010], continue to receive depressing news as the reports of the status of the economy of our nation just don't get any better. These depressing reports are not "good news" in any real sense other than as a clear report on how poorly Obama and his followers are leading this nation.
In a recent article dedicated to US banking problems, the prognostication on the future of the American financial industry was cautious and realistic. The author was clearly just not prepared to make a definitive statement as to how 2010 will treat the banks of this nation. However, some reported facts were depressing. In the year 2009 there have already been 124 bank failures with the list of still "troubled" banks currently numbering 575. This figure is the highest that it has been since 1993 and, for the obvious reason of avoiding panic withdrawals, the names of the institutions that are among the said 575 are intentionally kept from public knowledge.
Loan balances due American banks fell this past quarter by 2.8% which is the largest quarterly drop since this type of data began to be released in 1984. However, these repayments are generally in the nature of small businesses satisfying pre-recession loans. This movement to repay loans is being strongly promoted by the banks in order to regain its investment and to have available funds to address loan defaults that are looming in 2010. This problem is evident by considering that the for the first time since 1991 our banking industry's deposit insurance fund is in the red and has/is setting aside $62.5 Billion for future loan losses. What this means is that the banking industry has little if any available bank assets upon which to fund loans and this lack of available money is choking economic recovery.
With this negative economic news as a background, words from Newt Gingrich continue to express a hope for America via the 2010 and 2012 elections. Gingrich has clearly expressed that focus has to be made by candidates that they are an alternative and not just an opponent to the current political policies. That all elected positions must be contested by concerned Americans and that those positions include school boards, city and county contests, state races and Congress. He also urges Americans to vote for and elect those candidates who promote jobs and prosperity over higher taxes and big bureaucracy.
This is only November of 2009 and already focus is being made on events to occur 11 months and 23 months in the future. The concerns of the American voter must be maintained and primed for election day. In reality the incompetency of the Obama Administration should not only make this task simple but should also well motivate all Obama opponents.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment