United States Heading towards a Depression?

Yes China and India are free markets . China isn't a state controlled market and India is a free market not corrupted oligarchy . Both countries ranked well in economic freedom this year .

Ya you got 0.5M and drive a Polo . Try telling that to your 12 year old friends not to someone that lives 4 speed . The fact that I support the Union over my country is because it is our only shot at peace , without it we would go back to our favorite pastime - war . Besides i live in Antarctica or you don't trust your own IP scanner ?

Just because you're a ass doesn't mean you shouldn't have a good time . If i wanted rep i wouldn't be so brutally honest . I would just ass kiss and get many beautiful green stuff , not be a professional ball buster

 

Or better still, you could put on a dress and chat people up as a female in hopes of better treatment and a chance midnight wiener rendezvous.

If you think cuts haven't/aren't being made, you haven't the first clue of what a free market is. Up till now, the government and those in bed with politicians are the only jobs that haven't seen cuts and pay cuts. I do appreciate the idea of letting markets seek their own levels though. Its very right wing for a Marxist like yourself. More evidence you don't have the first clue what you are talking about.

 

I don't need a green card when I have a invite to work whit UR and I have relatives in the US .I'll quite posting for a week if you stop robbing honest businessmen and selling your reedited AdSense Payback . As for the gypsy part you saw my pic . Gypsies are also your countrymen , do you hate India that much that you feel the need to pick them ?

 

I remember reading that 7.3 million American homes are delinquent and in the process of foreclosure. The reality of that didn't really "hit" me until I realized just now that there are only about 80 million homes in the United States. Almost one in ten American families is delinquent on their home loan and at risk of foreclosure. This is a result of unemployment and underemployment levels not seen since before many of the readers of this thread were born. This is the change the American people voted for. They got change and they got it hard.

 

The above condition was a result of mismanagement from the previous Republican Administration including the aftereffects of their unnecessary and unfunded Iraqi war that culminated in the deepest recession since the Great Depression extending from Dec. 07 to June 09.

The change voted for has been brought about by the present Administration creating growth that has been sustained from June 09 unabated to Jan 11 - because of the severity of the Republican recession and the necessary remedies employed to curtail it the change is a multi year endeavor.

The solution has been simple, not to spend the American Treasury in Iraqi but to invest in our own Nation.

 

Can someone possibly explain how, when this thread was started during the Bush reign, that the depression gets blamed on Obama and his policies? To me, this thread lasting over 3 years, from when Bush was in charge, proves it was obviously a Bush led disaster that poor Obama has been left to try and fix. He gets handed a huge deficit and somehow he is expected to fix that and also provide the change he promised. It just doesn't make sense to me that Obama can be blamed for this when the Bush led snowball was still rolling when Obama first took control.

 

Uhhh... that's a pretty retarded argument. You have just mentally equated "thread" and "depression."

The presence of a thread does not prove the existence of a depression. We had a thread in 2007; we did not have a depression in 2007. The thread did not cause the depression. If we deleted the thread, the economy would not magically recover.

 

LoL. Funny, and maybe even possible, but that's not what I said or meant. You headin down Obamanation's road of twisting words?

I was equating the fact that there's a thread right here stating we're heading into depression from 2007. So the evidence is here that people were very concerned of the coming depression way back when Bush was in control. And shit, even I remember it was Bush in charge when I watched him sign the first bailout.

Ergo, I think today's situation is still a result of the Bush caused depression.

As to your laughable post, how do you know this didn't cause it. God always gives you what you ask for.

 

Unemployment jumped today by 18000 claims to 409,000 first time claims. The unemployment rate is sure to hit 10%

Former Federal Reserve Chairman Paul Volcker is ending his term as chairman of President Barack Obama's economic advisory panel next month.

The Democrats controlled both Senate and House of Representatives in 2007.

Democrat Nancy Pelosi was the 60th Speaker of the United States House of Representatives from January 4, 2007 to January 3, 2011. During Pelosi's term as Speaker of the House, the US National Debt increased from $8 trillion to $14 trillion in 5 years.

Further, the Barry Obama enjoyed a super majority in Congress the last two years.

The 10000 day traders in China are a sign of a DIJA index.

That's a 2% reduction in the payroll tax toward social security. Social Security is already bankrupt and it doesn't make any sense to cut the social security tax when 10k 'baby boomers' are retiring each day.

 

Here are some answers :


If you look at donations and the total process of what has been going on with the dollar, both Democrat and Republican sides are getting money from the same big donors. The Central Bank ( missnamed the "Fed" ) is privately, not publicly owned.


Here are some links where I have answered some of your questions in the past in this thread :


LINK






I would point you to look in-depth at what happened with Iceland, a country who has had a
great recovery because they refused to bow to the bankers. Greece, Ireland, Argentina ( in
times past ) all went the way of "Quantitative Easing". The Grecians were at least smart enough
and had the courage to try and fight it. What about you ? Look higher than the "republican/democrat"
level.

One thing I do have against the Dems is that they stole from Social Security.


Here is another place to check out : LINK




Having said the above, it may be too late for the USA to fight. Ever hear of the Weimar Republic ?
When other countries begin to refuse using the dollar for their trading in the world, the
dollar will cease to be useful as a "world currency". Russian and China have already started
this trend between their countries. LINK


Good luck to you in your search for who is responsible for what is going on in the economic world. Take a few minutes to think on this statement :


"Printing money is the last refuge of failed economic empires" LINK

 

Kinda odd given CNN's front page had a story after the first of the year (headline) stating that "Stock Market Surges on Jobs Numbers increase"...

One has to wonder if CNN or anyone on the left understands the difference between net and gross.

 

Thanks guys for explaining whilst staying civil. I do have a few points to consider.

Does that mean the new speaker will take the blame from now on?

The majority of comments beneath the story point to Bush as the major culprit, providing logical scenarios for what happened.

I do believe printing money is stealing it. I do also understand that money is an arbitrary value that sometimes gets played with for reasons of greed and noone does anything about bringing it back to the level it should be because living like fat cats is fun.

 

Hardly. When was the last time a politician took the hit for trillions of dollars being spent on places that they can not
even tell us where it went ? Did you know that some of your future debt ( the money you and your family is going to be forced to pay back to the central bank ) was sent to banks in Europe ? That is if you are a taxpayer from the USA.

The value of the dollar was separated from the gold standard back in 1971. They used the reasoning; "The dollar is as good as gold.".

 

I think I remember seeing Rumsfeld in a recent documentary doing that, trying to explain how 20% of the war expidenture can't be accounted for.

 

The excessive unfunded spending caused by the Republican Tax legislation without corresponding cuts in expenditures and the contrived Iraqi war that lead to the Republican "Great Recession" was the precursor for why the Democrats were voted into power in 07.

And by the way, the 112th Congress, is back to the Republicans to legislate the corresponding cuts in expenditures they failed to enact previously as Nancy Pelosi having better jurisprudence and far more significant objectives for legislative enactments than waisting taxpayers time and money on Republican voodoo economics.
..........

The 2% reduction was negotiated by the Republicans in securing their own tax extension and is an 850 billion addition to the national debt. In short it was the first Republican negotiated legislation of the 112 Congress.

 

Unfunded spending is deficit spending. The facts however indicate that more revenue was generated with tax cuts than not. And over that same period, less deficit spending occurred. In fact, the deficit continued to decline from its post 9/11 all time high of 500Billion dollars to under $190billion until Democrats took over both houses of congress again. Check your facts.

Frappe again... Bleh.

How on earth do you figure that reducing what the government spends translated to a cost to government? Are you a women?

 

That is a terrific question.

For simpletons like Breeze, it's a common misconception that the President completely runs the country and is responsible for the economy. According to the Constitution, he/she does not.

Remember, the United States is a Representative Republic. The economy is constitutionally run by the Republic's elected representatives in the legislature.

The President is constitutionally responsible for the military and foreign policy. Inside the country, things are run by the House and the Senate. And according to the U.S. Constitution, the economy is run by the House of Representatives and the responsible person for the US economy is the Speaker of the House, which has been Nancey Pelosi since 2007.

The House of Representatives creates all spending bills. Committees include:
# Committee on Financial Services
# Committee on Oversight and Government Reform
# Committee on Small Business
# Committee on Transportation and Infrastructure
# Committee on Ways and Means
# Joint Economic Committee
# Joint Committee on Taxation
...all of which directly mess with the economy

For the President, the Secretary of the Treasury, or the Executive Branch to do anything involving the economy requires the permission of the House of Representatives.

In my opinion, neither Presidents Obama nor Bush have done anything that is directly responsible for the USA's depression. It all falls on Pelosi.

OTOH, it's not uncommon for a Speaker that is of an opposing party of the President to tank the economy in order to hurt the sitting President's chances for re-election. That is exactly what Pelosi tried to do starting in January 2007. However, with the Wall Street already mess looming, Pelosi created a perfect storm which has resulted in the longest lasting "economic downturn" in US history.

 

And that was a good answer Corwin thanks. I would have said terrific answer but the 'simpletons' comment threw it off a little. He/She is certainly entitled to their views.

I do think the housing crisis most likely created the final nail that brought it all down but do you think Bush & his cronies asking for trillions to fund the war had anything to do with the depression? And then, do you think you would have rode it a lot better without that expenditure?

 

You still speak of bull more than you know.

 

bogart, if you keep predicting future events everyone knows eventually one of them will come true however the reason why seldom fits the prediction.

Including her career aspirations, the last two years of Historic legislative accomplishments as well as the return to sound economic principals after the deepest recession since the Great Depression caused by the principals and policies of the previous Administration.

The Republican recession has been curtailed by gov't expenditures......the health of the economy is the precursor for sound Capitalism.