It's a good thing Republicans are fighting so hard for rebates for families making up to $300,000 in order to accept a few million dollars worth of unemployment benefits. They really are a shameless bunch and prove once again that they don't have an ounce of compassion in their bones. If only regular Americans had the benefits of members of Congress but they don't. Now the unemployed have to figure out how to get by thanks to the economic destruction that the GOP left in their wake.
With all of the news coming out on the Bush/GOP economy, it's no wonder famed investor Jim Rogers is predicting this recession could be worse than others.
"Conceivably we could have just had recession, hard times, sliding dollar, inflation, etc., but I'm afraid it's going to be much worse," he says. "Bernanke is printing huge amounts of money. He's out of control and the Fed is out of control. We are probably going to have one of the worst recessions we've had since the Second World War. It's not a good scene."
Rogers looks at the Fed's willingness to add liquidity to an already inflationary environment and sees the history of the 1970s repeating itself. Does that mean stagflation? "It is a real danger and, in fact, a probability."
