Jobless Recovery.

noob_trad3r · Jul 6, 2009

I don't think this will work like before, I know the last few Jobless recoveries worked because consumers were able to borrow money.

But I think they are not willing to borrow anymore. I wonder of the Administration will figure this out?

wave · Jul 6, 2009

Opulence, avarice are out of fashion for a while. Less productive but a much happier state. More consumption of leisure time and less consumption of "stuff." Long travel industry, short pharma and retail related. Perhaps at last American people have realised that they don't need "stuff" or prescription drugs to be happy? Perhaps we work closer to home? Put agricultural farms back in every neighborhood? Take the kids on the bike to buy some fresh milk and eggs even in urban areas? Maybe we stop suffering from "status anxiety."
We won't have to feed Ritalin to our kids for breakfast, nor feed our teens and execs Provigil for dinner, and we can avoid the Prozac when it all goes to crap.

http://www.youtube.com/watch?v=-b7qaSxuZUg

Roman Candle · Jul 6, 2009

http://dailybail.com/home/must-see-bailout-comedy-wanda-sykes-is-hilarious-explaining.html

Scataphagos · Jul 6, 2009

Quote from noob_trad3r:

"...But I think they are not willing to borrow anymore. I wonder of the Administration will figure this out?

This is a HUGE problem for the government. The reason for all of this stimulus is to try to reignite the borrow-and-spend economy as soon as possible... and to ramp it back up to 2007 levels.

Governments were running deficits at the economic peak in '07. And though tax revenues are down significantly, governments are loathe to cut budgets and benefits.

Without government cuts, deficits are going to EXPLODE!

noob_trad3r · Jul 6, 2009

Quote from Scataphagos:

This is a HUGE problem for the government. The reason for all of this stimulus is to try to reignite the borrow-and-spend economy as soon as possible... and to ramp it back up to 2007 levels.

Governments were running deficits at the economic peak in '07. And though tax revenues are down significantly, governments are loathe to cut budgets and benefits.

Without government cuts, deficits and going to EXPLODE!

This is why I am so dissapointed in Obama. He is going by the same playbook that got us into trouble. I wonder how long before the Administration changes tactics.

Scataphagos · Jul 6, 2009

Quote from noob_trad3r:

"... I wonder how long before the Administration changes tactics.

Not likely until it's FORCED... by economic collapse.

Susannah · Jul 6, 2009

Quote from wave:

Opulence, avarice are out of fashion for a while. Less productive but a much happier state. More consumption of leisure time and less consumption of "stuff." Long travel industry, short pharma and retail related. Perhaps at last American people have realised that they don't need "stuff" or prescription drugs to be happy? Perhaps we work closer to home? Put agricultural farms back in every neighborhood? Take the kids on the bike to buy some fresh milk and eggs even in urban areas? Maybe we stop suffering from "status anxiety."
We won't have to feed Ritalin to our kids for breakfast, nor feed our teens and execs Provigil for dinner, and we can avoid the Prozac when it all goes to crap.

http://www.youtube.com/watch?v=-b7qaSxuZUg

Nice vision, you are a true optimist. This I think will come to pass, but you realize it will take decades, right? I'm not knocking you at all, I've just been looking at it from a historical perspective, and I really think that's the timeframe. For change at that kind of level, when everything has been running on greed, it takes decades.

Until then, the people at the top try desperately to hold on to what they have, and make life miserable for everyone.

Scataphagos · Jul 6, 2009

Quote from Susannah:

"... Until then, the people at the top try desperately to hold on to what they have, and make life miserable for everyone.

Especially true for government.

Libertad correctly suggests the ONLY hope for America is a TOTAL OVERHAUL of our tax structure and the role of government.... such that tax revenues are as low as possible and their collections are from as wide a tax base as possible... that the USA quickly become "tax and business friendly" so that manufacturers from around the world move to the US and employ American workers.

Short of THAT, we are doomed.

But, the current Administration is RACING in the opposite direction. (Like in "Thelma and Louise"... we're "pedal-to-the-metal", and the cliff is fast approaching.)