The entire talk about creating jobs to me is just nonsense, how many years did the US economy sustain quarter after quarter and year after year of job growth, the US has created millions of jobs over the last decade DUE to the unbelievable amounts of leverage and easy credit that made everyone spend and create new jobs, that time is now over. There is no need to create jobs, they are just going to try and create jobs out of thin air just to try and create a new economy which is not going to happen. Easy credit and cheap credit along with low interest rates fueled the growth in the US over the last 2-3 decades, with that no longer the case creating jobs is going to be nearly impossible at this time the downturn in the economic cycle. Pushing an economy thats already been pushed to its limit is only going to make for more trouble down the line, the best bet for this economy is to let it run its own course and with due time fix itself without intervention.
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- Thread starter fearless9
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The entire talk about creating jobs to me is just nonsense, how many years did the US economy sustain quarter after quarter and year after year of job growth, the US has created millions of jobs over the last decade DUE to the unbelievable amounts of leverage and easy credit that made everyone spend and create new jobs, that time is now over. There is no need to create jobs, they are just going to try and create jobs out of thin air just to try and create a new economy which is not going to happen. Easy credit and cheap credit along with low interest rates fueled the growth in the US over the last 2-3 decades, with that no longer the case creating jobs is going to be nearly impossible at this time the downturn in the economic cycle. Pushing an economy thats already been pushed to its limit is only going to make for more trouble down the line, the best bet for this economy is to let it run its own course and with due time fix itself without intervention.
Quote from S2007S:
The entire talk about creating jobs to me is just nonsense, how many years did the US economy sustain quarter after quarter and year after year of job growth, the US has created millions of jobs over the last decade DUE to the unbelievable amounts of leverage and easy credit that made everyone spend and create new jobs, that time is now over. There is no need to create jobs, they are just going to try and create jobs out of thin air just to try and create a new economy which is not going to happen. Easy credit and cheap credit along with low interest rates fueled the growth in the US over the last 2-3 decades, with that no longer the case creating jobs is going to be nearly impossible at this time the downturn in the economic cycle. Pushing an economy thats already been pushed to its limit is only going to make for more trouble down the line, the best bet for this economy is to let it run its own course and with due time fix itself without intervention.
Whilst I agree with you that the 'growth' in the economy was not real and fueled by credit, the problem is where to go from here.
If you allow the economy to run it's course as you suggest then you must be prepared to live with the outcome.
The lower middle-class and the poor will revolt, since they have nothing left to lose.
Whilst they may not have the monetary power, who cares, since they have the numbers and they have guns.
Many have military training just to add to the mix.
US could face the very real problem of splintering into regions depending upon the population mix.
This breakdown in law and order must not be allowed to develop and hence the push to create jobs.
Jobs keep idle hands and minds busy and provide income as opposed to handouts.
I imagine that the US is way beyond the laissez faire experiment in 2009.
There is no longer any wiggle room for Greenspan style laboratory guesses with their hit or miss outcomes.
The problem is huge, it is real and it is upon everyone now whether they realise it or not.
regards
f9
f9
Whilst I agree with you that the 'growth' in the economy was not real and fueled by credit, the problem is where to go from here.
If you allow the economy to run it's course as you suggest then you must be prepared to live with the outcome.
The lower middle-class and the poor will revolt, since they have nothing left to lose.
Whilst they may not have the monetary power, who cares, since they have the numbers and they have guns.
Many have military training just to add to the mix.
US could face the very real problem of splintering into regions depending upon the population mix.
This breakdown in law and order must not be allowed to develop and hence the push to create jobs.
Jobs keep idle hands and minds busy and provide income as opposed to handouts.
I imagine that the US is way beyond the laissez faire experiment in 2009.
There is no longer any wiggle room for Greenspan style laboratory guesses with their hit or miss outcomes.
The problem is huge, it is real and it is upon everyone now whether they realise it or not.
regards
f9
..................................................................................
Good commentary.........
The US should do more to create "confidence" by making legal decisions that will correctly smooth the path forward....
Areas of legal change....
1) Tax structure change....10% consumption tax
This is going to happen in some form anyway....The current system tax take is going to nosedive....Rampant unemployment and corporate losses piling up....spell it out....
And the "fabulous" Summers/Geithner package has totally missed it....
2) Proper regulatory changes in the securities market....
Visibility being the main issue....
3) A fresh "restart" of a new worldwide direct access securities exchange....
4) Allowance of true "universal" securities accounts....not one person in any country should subject themselve's to their government's employees' idiocy/biases....They should be able to shift to any cash currency, gold etc... with a few clicks of the mouse....
5) The elimination of the SEC, Rating Agencies to be replaced by visible/viable/trustworthy systems.....
6) The list just gets longer....
Whilst I agree with you that the 'growth' in the economy was not real and fueled by credit, the problem is where to go from here.
If you allow the economy to run it's course as you suggest then you must be prepared to live with the outcome.
The lower middle-class and the poor will revolt, since they have nothing left to lose.
Whilst they may not have the monetary power, who cares, since they have the numbers and they have guns.
Many have military training just to add to the mix.
US could face the very real problem of splintering into regions depending upon the population mix.
This breakdown in law and order must not be allowed to develop and hence the push to create jobs.
Jobs keep idle hands and minds busy and provide income as opposed to handouts.
I imagine that the US is way beyond the laissez faire experiment in 2009.
There is no longer any wiggle room for Greenspan style laboratory guesses with their hit or miss outcomes.
The problem is huge, it is real and it is upon everyone now whether they realise it or not.
regards
f9
..................................................................................
Good commentary.........
The US should do more to create "confidence" by making legal decisions that will correctly smooth the path forward....
Areas of legal change....
1) Tax structure change....10% consumption tax
This is going to happen in some form anyway....The current system tax take is going to nosedive....Rampant unemployment and corporate losses piling up....spell it out....
And the "fabulous" Summers/Geithner package has totally missed it....
2) Proper regulatory changes in the securities market....
Visibility being the main issue....
3) A fresh "restart" of a new worldwide direct access securities exchange....
4) Allowance of true "universal" securities accounts....not one person in any country should subject themselve's to their government's employees' idiocy/biases....They should be able to shift to any cash currency, gold etc... with a few clicks of the mouse....
5) The elimination of the SEC, Rating Agencies to be replaced by visible/viable/trustworthy systems.....
6) The list just gets longer....