Sadly, Obama didn’t save us from Depression, only made it worse when it comes.

Delaying a depression is not the same as saving us from one. Our own government accountants have warned for years that the policies he is using are not sustainable and that we will lose BOTH our standard of living and domestic tranquility (their words, in the report, not mine or somebody on TV).

The fact he didn’t save us from a depression isn’t because he hasn’t tried. No president or Congress can. We are on a path laid out decades ago and even turning around (reforms) now, would cause a depression.

We are in the eye of a storm that could last months or a couple years or so but, we have been saved from nothing because we have gone so far that now we can’t tax or grow out of this and cutting spending would cause the depression to begin now.

Take advantage of whatever time we have left until that day arrives and save and invest in ways to protect against a collapsing dollar. Since home prices will fall a lot more either due to the two years of resets we face or the rising layoffs by cities and states that will hit the private sector too, or because of rising interest rates, I wouldn’t buy a home now even at a foreclosure price unless it is in a very stable neighborhood. A bargain isn’t really a bargain if you find yourself surrounded by empty homes being looted for the raw materials in them. Also, renting makes it easier should you have to move to another city for a job should you lose the one you have.

This is not the President’s fault nor the previous President nor the one before him. These policies began over 70 years ago and have slowly eroded our ability to survive as an economic power in the world. You can blame some for speeding the process up, like Bush but, had he not created or helped create the housing bubble and debt bubble, we would have been in depression during his Presidency. Clinton would have been presiding over a depression had it not been for the tech bubble that created a big rise in tax revenues at the same time people were going deeper into debt to spend more and help create an illusion of growth.

The is bigger now, than any President or Congress or FED can control. They can only delay or speed up the time to some type of collapse.

- JanPaul