Alright you freakin' DP'ers there are soup lines now and NO WORLD WAR III to bail America out. Why no WWIII to bail America out, because America has enough supplies to fight 100s of World Wars, forget nuclear capabilities that are on everybody's mind, America is ready to fight with enough supplies with or without nuclear capabilities. With technology where a lone man or woman can develop a weapon of mass destruction (big yawn because there should satellite technology or other technology that covers The U.S.A. and all of it's assets from an attack like this) is there blind spending on fighting the war on terror with no incentives or economic balance? A terrorist attack is not going to stimulate the economy anyhow, directly or indirectly. Those defenses against terror are in place now.
The gap between the rich and the poor in USA was already quite pronounce before the start of the recession. Now given that the poor who was previously sustaining from hand to mouth lost their incomes, I guess this will be more common as the recession deepens. I won't be surprise if those bankers and financiers in Wall Street and Main Street join the queues.
The gap between the rich and poor is quite substantial. But the poor have cars, cell phones, computers and houses that they can't afford. It's costly guarding against terrorist attacks using civilian policeman that are paid hourly. People need to work harder. We live in a gobal economy.
We need a new direction, a direction that obama is capable of providing (?). People work hard (some of them) but are we working right into a wall?
Socialism doesn't work. See "Socialism in Post-war Britain" http://money.howstuffworks.com/socialism5.htm "The problem with socialism is that eventually you run out of other people's money." -Margaret Thatcher Margaret Thatcher: Free Society Speech (1975) http://www.youtube.com/watch?v=oK3eP9rh4So
IMHO No, Obama seems to be a populist, I doubt he has the strength and fortitude to go forth with unpopular measures which will help in the long run. I guess he rather rot slowly and hope that the worse is over without needing to take any unpopular actions.
Nah....that was the copyright of the CCP Chinese Communist Party! Remember Mr Deng said before of socialist state having capitalist economy, no matter whether it is a black or white cat, as long as it catches rats it is a good cat. The good cat is still quite popular in China....
I will call it a Depression, the Great Depression refers only to a particular incident, the long economic paralysis of the 1930s and 40s. This time it is too serious for a recession, I guess calling it a Depression suits it more.
I agree with you. The downturn has already lasted 16 months and there is no end in sight. We haven't reached the severe levels of the double dip recession of 1980 and 1981-1982. A douple dip recession is pretty close to a depression.
I think the double dip is here. A stock market financier sees a double dip in the market to be a bear market, simple as that short term, long term dips are for recession and here we are?.... Here is an article: http://www.whatisgoingonblog.com/2009/03/current-recession-has-potential-to.html Do you think we are past the "double dip"?
There's moneyout there. The last 15 years hae been record growth and the govrnments are printing money.
There's $8 trillion dollars on the sidelines. When people start to get confidence, there will be too much money chasing too little goods and services. Printing dollars is like adding more water to the soup.
But with phantom ingredients. Goods and services are at low levels of availability. Where does that extra money go? Saving money is not stimulating the economy.