Never-Ending Recession:Have Americans lost all hope for the future?

My tax return

List all dependents?”
How about -
“12 million illegal immigrants;
“3 million crack heads;
“42 million unemployable people on food stamps,
“2 million people in over 243 prisons;
and
“535 fools in the U.S. House and Senate.?
Apparently, this was NOT an acceptable answer.


The above started in the joke section but many a true word is spoken in jest.
 
Perhaps some other country will come in one day and liberate us from the evil thugs in D.C.
How else we going to rid ourselves of them, since they refuse to amend our constitution and put in a balanced budget amendment and a term limits amendment?
Oh, you think voting works in this country? LOL
 
Quote from Scataphagos:

Due in no small part to "outsourcing" and "globalization". 300-500 million low-cost-labor Chindians were brought into the world work force... displacing many middle-class jobs in America and Europe. That genie can't be put back into the bottle.
More...

was the genie avoidable?
 
Quote from Humpy:

Why not legalize drugs ?
At least when most of the people are high they will be happy.
Prohibition of alchohol didn't work in the 1920s and the same for drugs. People won't be told what to do by the Govt.
Those stupid enough to get hooked are probably expendable
More...

Depends on the type of drug. Heroin, meth, coke, they are likely to die off, possibly in large enough numbers to significantly decrease public assistance costs. On the other hand, if large numbers of people started using some of the classic "psychedelic" drugs of the 60's (LSD, mescaline, psilocybin, DMT) today, it could lead to "the masses" re-evaluating their materialistic attitudes. That could well be very bad for the current economy, which relies on ever-increasing consumption.

Bettles
 
Quote from Grandluxe:

41% of People Say American Dream Is Lost; 63% Say Economy Getting Worse
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Not that most here are old enough to remember, but this is sounding a lot like the late 1970s.

The "solution" chosen by voters then was to buy into Reagan's don't-tax-but-keep-spending deficit plan and declare it "Morning in America".
 
Quote from bettles:

Depends on the type of drug. Heroin, meth, coke, they are likely to die off, possibly in large enough numbers to significantly decrease public assistance costs. On the other hand, if large numbers of people started using some of the classic "psychedelic" drugs of the 60's (LSD, mescaline, psilocybin, DMT) today, it could lead to "the masses" re-evaluating their materialistic attitudes. That could well be very bad for the current economy, which relies on ever-increasing consumption.

Bettles
More...
Instead of the towering 70 percent level of the United States, consumption was only 38 percent of the Chinese economy. Conversely, net exports, which produced a negative 3 percent drag on the U.S. economy, actually added 3.6 percent to the Chinese total. China’s growth was heavily driven by investment, which totaled 48 percent of GDP versus only 12 percent for the United States.

Rickards, James (2011-11-10). Currency Wars: The Making of the Next Global Crisis (Kindle Locations 2100-2103). Penguin Group. Kindle Edition.
 
retail sales up 1.1% for SEP vs .3% previous month
auto sales up 3.6% most since MAR 2010

year over year retail up 8%

restaurant sales up most since AUG 2007
industrial production up .2% for SEP
factory output up .4% SEP vs .3% previous
motor vehicles and parts up .7%
business equipment up 1%
computer equipment up 1.9%
mining, oil and drilling up .8%
 
Lost all hope? Yes and No...

Wealthier Americans are in an expansion [their portfolios have recovered, their businesses might be a little healthier, real estate is cheap and falling and theirs is paid for, they can expand their RE holdings further if they get in an expansive enough of a mood to buy, prices are depressed all around them, so for them, yeah, cash is king and they are hopeful for the future.

Poorer Americans are not part of the economic recovery yet. They won't be until Real Estate heats up and then many of them will have jobs.. but it's yet another jobless recovery, every recovery since 1970 has been "jobless" at least to the extent that all the lost jobs were not recovered due to increases in efficiency from computerization and outsourcing of work... it's still a big question in my thinking as to whether we can go the entire business cycle this time without the working class getting to participate...
 
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