Economy, any one else share my view?

That statement is all too true. I love getting in debates with most of them because its just like arguing with an evening broadcast of the news. We haven't done any good in the Middle East, no progress, Obama is going to deliver us from this recession, yada yada yada.

The fact is we are in NEED to be in a recession and nothing will get accomplished until everyone accepts that and starts acting like it. Let the money hole companies fail since they clearly aren't delivering products much less practices that people want! We need less service based economics and more goods based. Savings not credit people. Until we accept that a recession is what we need and the government can do little to help, its going to be a looooong hard time. If you don't believe the governemnt can't help, look at FDR's new deal. It didn't do shit other than give people piece of mind that the governemnt was trying. The only thing that pulled US out of the depression was the mobilization for war! Clearly the election of Obama shows we are in no shape to take on another war so its on YOU! EACH AND EVERY INDIVIDUAL is responsible for themselves. Sorry to be the one to break the news to you but the governemnt is a little more than helpless...even if drastic changes are made.

 

If a man is not a socialist by the time he is 20, he has no heart.
If he is not a conservative by the time he is 40, he has no brain.
- Winston Churchill

 

This topic is getting dumber by the second. Look- Personally I think Liberals and Conservatives are both idiots.

I don't like smart-ass know-it-all bleeding heart yuppies telling me I'm

with my various old cars and other polluting engine driven thingies. Nor do I care for their idiotic hair and clothing styles or penchant for making wherever they live expensive as hell.

I also don't like self-righteous

shmucks stuck in 1950's-land with McCarthyism like paranoia of ANYTHING new or different.

Screw em' both. Neither appeal to me in the least.

There. I'm sure fire is going to rain down on this one.

 

My take is that some companies need to fail. We had a tech bubble in the late 90s. There was no bailout. Just recently, the oil bubble burst and no one bailed them out. To me the only thing that makes the housing bubble different is the amount of money and that it has shut down credit for business.

The other problem I see is that everybody put the brakes on spending. Not a totally bad thing, but it may be causing deflation, which I think is bad. People that have money are afraid to spend because 1. they are afraid of being laid off or 2. the thing they buy will be cheaper next month.

Now, enter the federal govenment. First I agree with doing something to stabalize the banking system. Without that, there could be chaos. Not sure that it means buying/taking over banks. Second, some government spending (yes its debt to China) for infrastructure is ok. As long as the pork is cut out, the money gets spent on things that we eventually need to do anyways. It gives some people jobs, creates a bit of a ripple effect - associated industries get some business. It helps break a cycle of doom and gloom. People that have money can stop worrying so much. Banks start lending again (to people that can afford it).

I see stimulus as hopefully breaking the downward spiral long enough for the economy to absorb the losses in housing. Three years down the road, I think most responsible citizens will be better off. Housing will be more affordable in places like California, banks will make better lending choices, people will save better and make better choices with their money.

I think we are at a crossroads of what our economy is based on. It was manufacturing, it is more service based now, but I think that is changing.