Economy In The Dumper By 2012 Says Calente
- Thread starter pspr
- Start date
Calente probably has the most pessimistic outlook of anybody I have heard, but some of his arguments do have merit. I do believe the last bubble has been played to prop up the economy. This President and his Congress are doing just the opposite of what should be done to bring us out of this recession. I think there remains a tremendous downside risk.
Nothing gets as good or as bad as the extreme predictions, but then again the US has been the land of plenty during our entire lifetimes, so it is hard to predict human responses if our luxuries go away.
I think the jury is still out.
Nothing gets as good or as bad as the extreme predictions, but then again the US has been the land of plenty during our entire lifetimes, so it is hard to predict human responses if our luxuries go away.
I think the jury is still out.
'it's more like republican corruption and incompetence. Time to pay the piper for 25 years of your republican deficit spending + govt. growth.'
Republicans are not the only one's to blame. Billy Clinton started the housing mess by encouraging the sub-prime mortgage schemes so that even welfare hogs with part time jobs can own homes.
Republicans acted like Commies in the true sense. Commies knew their system would not work very early on but they stuck to it even by fraud and deception. Republicans sensed that fiscal conservatism like Canada or Germany would not give economy the growth and glitter, so they went into encouraging the deficit spending. Even a loser can fill his house with 51 inch TV and slick gadgets and expensive furnitures............all on credit cards and credit lines..........but only to default later.
Guess now US is on the verge of default. One easy trick left in the bag is to beat down the USD and payoff the debt in currency with much less worth and purchasing power.
Other trick is to make a budget to save $500B a year and introduce conservative and frugal living but within the means. Republican types are not upto this option. That would wipe off or severely diminsh the Superpower status of the US.
Poor Obama has little choices and that is why he has been so low profile on items like Iran elections and other regional foreign affairs.
One other area where Clinton was at fault was not cutting down the defense budget and similar offensive programs even after cold war was over and Russians were in shambles. If he had saved up $100B a year for 8 years of his term, the books would have accounted for atleast one stimulus package plus Republicans would have seen in actuality that US lead in defense so much that even cutting the budget in half would not allow any nation or group of nations to even think of any military adventure.
Republicans are not the only one's to blame. Billy Clinton started the housing mess by encouraging the sub-prime mortgage schemes so that even welfare hogs with part time jobs can own homes.
Republicans acted like Commies in the true sense. Commies knew their system would not work very early on but they stuck to it even by fraud and deception. Republicans sensed that fiscal conservatism like Canada or Germany would not give economy the growth and glitter, so they went into encouraging the deficit spending. Even a loser can fill his house with 51 inch TV and slick gadgets and expensive furnitures............all on credit cards and credit lines..........but only to default later.
Guess now US is on the verge of default. One easy trick left in the bag is to beat down the USD and payoff the debt in currency with much less worth and purchasing power.
Other trick is to make a budget to save $500B a year and introduce conservative and frugal living but within the means. Republican types are not upto this option. That would wipe off or severely diminsh the Superpower status of the US.
Poor Obama has little choices and that is why he has been so low profile on items like Iran elections and other regional foreign affairs.
One other area where Clinton was at fault was not cutting down the defense budget and similar offensive programs even after cold war was over and Russians were in shambles. If he had saved up $100B a year for 8 years of his term, the books would have accounted for atleast one stimulus package plus Republicans would have seen in actuality that US lead in defense so much that even cutting the budget in half would not allow any nation or group of nations to even think of any military adventure.
As long as the Dow is still around I will make it, as long as I can trade, thats all I need.
It's amazing how the electorate now acknowledges "the evils of Bush"... expansion of government, expansion of Executive powers, infringement on individual rights, huge deficits...
Yet fails to perceive Obama trumping all with more of the same... LOTS MORE OF THE SAME... and "hoping for change".
Every president since Ike COULD have made significant inroads to preventing this degradation of America and preserving the public purse... yet none of them did.
Lots of blame to go around.. and Obama is NOT the answer... more, as you said, the "nail in the coffin"...
Quote from Scataphagos:
It's amazing how the electorate now acknowledges "the evils of Bush"... expansion of government, expansion of Executive powers, infringement on individual rights, huge deficits...
Yet fails to perceive Obama trumping all with more of the same... LOTS MORE OF THE SAME... and "hoping for change".
Every president since Ike COULD have made significant inroads to preventing this degradation of America and preserving the public purse... yet none of them did.
Lots of blame to go around.. and Obama is NOT the answer... more, as you said, the "nail in the coffin"...
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The next question being....
How can change happen in the current system ?
And how can it be communicated ?
There is a political world....a media world....and the REAL world....
The REAL world necessitates structural change....while the political and media worlds have the podium....
A devastating disadvantage to those in the REAL world....
Any chance you Yanks could change your constitution to prohibit annual deficits? That would help all of us long term.
From what I heard a good handful of the founding fathers on the Mayflower weren't really fleeing religious persecution but debts they couldn't pay! US law has always been staggeringly lenient with bankrupts (like your walk-away mortgages that the rest of the world doesn't yet have) which affects everyone's attitude to debt. And of course we over here have to copy just about everything you do
From what I heard a good handful of the founding fathers on the Mayflower weren't really fleeing religious persecution but debts they couldn't pay! US law has always been staggeringly lenient with bankrupts (like your walk-away mortgages that the rest of the world doesn't yet have) which affects everyone's attitude to debt. And of course we over here have to copy just about everything you do
Quote from Ash1972:
Any chance you Yanks could change your constitution to prohibit annual deficits? That would help all of us long term.
From what I heard a good handful of the founding fathers on the Mayflower weren't really fleeing religious persecution but debts they couldn't pay! US law has always been staggeringly lenient with bankrupts (like your walk-away mortgages that the rest of the world doesn't yet have) which affects everyone's attitude to debt. And of course we over here have to copy just about everything you do
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Actually....some lawyer would just have the name changed ....and do it anyway....
All LEGAL....of course....