United States Heading towards a Depression?

I don't think Bill Clinton was as bad as Bush economically speaking. I think George W will go down as the worst president in history or maybe the next president whoever that maybe. They'll also cop the flak.

The two wars have pushed the US into bankruptcy.

The fact is Bill Clinton spent much less than George W Bush. Any economic gains over the last 30 years were made by private enterprise. Governments only spend they do not create. The best government is the one that taxes and spends the least. That's why George W Bush is so far the worst because he's spent the most out of any president.

 

When Clinton was in power the Republicans actually stuck by their supposed ideals of cutting government spending. Annual increases slowed, welfare was majorly overhauled to reduce eligibility, and the government even shut down for three weeks because the Republican Congress refused to pass legislation if the spending was too high.

Reagan and Bush "worked well with Congress" and passed every stupid funding idea the legislators could come up with. Thats what I think is bad for the economy - a government that quickly advances its own agenda. Not necessarily one party or the other as they would both love a chance to spend our money.

 

The stock market may look all good and shit but have you taken a look at the corporate bond market?

 

The stock market is a pig and so are all the bond markets.

 

What do you mean they are "pigs".

 

They suck and go oink.

 

Really good Podcast from the Mises Institute, about the Broken Window Fallacy of Government Spending.

2/13/2008 2:59:12 PM: Llewellyn H. Rockwell, Jr. - Government as Window Breaker: Hazlitt's Lesson Reapplied


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When Bernanke gets on TV. RUN AWAY from the market

 

For future references
I still don't see how people like him, there smart but have no clue!

 

Greenspan says the odds are 50 percent or better the country is headed toward a recession. The housing market also has a long way to bottom out according to Greenspan. Greenspan should now cause he created the mess we are in.

Greenspan said the recent credit crunch hasn't hit U.S. businesses particularly hard. That's because the Fed is printing money like there is no tomorrow and there's plenty of cash out there.

Greenspan said he thinks the housing market will continue to erode until the cause of the deterioration ends.

"Where all the problem is coming from is the continuous marking down of the value of those subprime securities," he said. "Until we stabilize the price level of homes ... you're going to continuously get loss estimates" from banks and other financial institutions.

When might the housing crisis hit rock bottom, Yergin asked.

The country still has "a long way to go," Greenspan responded.

http://news.yahoo.com/s/ap/20080215...t_greenspan;_ylt=Aqpwl3BrvkChohJeovPTvvmyBhIF

 

Greenspan is a funny guy

He fixed the tech bubble with a housing bubble

 

Housing bubble is worse because there is going to be a lot of people put out on the street once they loose their homes.

 

Benanke is in some hot water.

Former Fed Chairman Paul Volcker is predicting the coming recession may be among the worst. He predicts that the Fed will have to raise interest rates to double digits to control inflation.

 

Paul Volcker went through some tuff times with the 1981 recession. The Fed rate went to 20%