I hate this recession thing. The jobless rate needs to start falling real soon. Long-term jobless face frayed safety net Long-term jobless face frayed safety net - Answer desk- msnbc.com
you are right that the jobless rate needs to start falling, but this congress and this president will not do what is needed to encourage job growth.
yeah, we should have elected the guy who said he didn't know anything about economics and that the economy was fundamentally sound right before the bottom dropped out. the same guy who is calling his former running mate a liar right now.
i said it before, i will say it again, the economy IS fundamentally sound, the problem is that the government is interfering with the free market and screwing things up. had obama made teh right moves when he came into office, such as cutting taxes, and generally making the US a more business friendly environment, the economy would have corrected itself. now we have skyrocketing deficits, a falling dollar, and unemployment going higher monthly. when the government puts its hands into a recession, or a depression, all it does is extend the problems. by the way, we have also had more than 100 banks fail since obama took office, more than twice as many as the last year of bushs presidency.
Sure the economy would have corrected itself after a 10 year depression. I heard an economist say the other day that the economy before the recession was just to big to be sustainable. We were keeping it going by increasingly throwing ourselves (consumers) into ridiculous levels of debt. And, all the while accepting the loss of manufacturing jobs and industry to overseas markets. No, the economy was not sound. Since the 90s when they first began "downsizing" we've been in trouble. Posted via Mobile Device
Well, you can argue what you want but it is hard to say Obama had made anything about this country more business friendly. More businesses = more jobs, that's how it works, there is no way around it. In fact he has been taking steps to make it even more expensive to hire someone, and more restrictions on how they can run that business, while making it more desirable to be unemployed. I mean really, ever want to know what the problem is. Try to open your own business, especially with an original idea, see who is stepping in your way, and see who damn near makes it impossible to afford to even start your own business. It won't be private industry I can promise you that! The government... They want to get paid before you even can make your first sale, then they want to tell you how to run it, as though they know any better. Now once you start getting big, you might start tangling with other businesses... but that's called competition. I wonder if the government had a competitor.... where we could choose which government we wanted to abide by.... that would be interesting.
yes the economy is fundamentally sound, the problem comes in where you have parts of the economy that get overheated, like the tech bubble in the 90's and the housing bubble this time around, and when those bubbles burst they hurt the economy. the housing bubble problem has been building since halfway through bush 41 term in office when the fed started cutting interest rates to prop up the economy that started sagging when bush 41 raised taxes after he took office. then when clinton took office he also raised taxes, and the economy sagged further, again to be propped up by interest rate cuts and the building of the tech bubble. when the tech bubble popped, the economy started to falter, but because it was still being propped up by the housing market due to low interest rates, that kept going lower, and with the ease of people who got credit that should never have gotten the easy credit they got, when the price of oil jumped up to $140 per barrel, everything started to collapse. the problem isnt the economy itself, it was the easy credit, and the ability to roll loans over and over again until people were upside down with their big purchases, cars and houses. what the fed should have done way back in the early 90's is leave well enough alone, and the congress back then should have reined in fannie and freddie, and stopped the sub prime mortgage market in its tracks. the problem we have now is that if we raise interest rates, we will hurt the economy nearly as badly as if we raise taxes now. this is why the health care reform bills in congress need to be killed as all it will do is kill the economy with all the taxes and fees in the bills.
How can the economy be sound if we are in a recession? I think you're arguing that our socioeconomic system is sound. I'm not so sure. Seems like there is a lot of violence inherent in the system. Posted via Mobile Device
our economy is basically sound because it is a diverse economy, and we have the needed tools to bounce back quickly if given the chance. when the government steps back and lets the free market work, things happen. when the government sticks its nose in and meddles then things remain slow until the government stops meddling, or we get into a large war which ever comes first.
Let me take a guess to say this "economist" was a liberal. Always excuses for everything! Typical! And don't say I'm on the Bush bandwagon, because I don't agree with everything he did. I'm just tired of everyone ****ting on this country, both parties. And 90MustangGT is right, if Obama really cared about US, the people, he would promote capitalism, as that is what made us a great country. He is a damn socialist and there is no way around it. I'm sick and tired of this ****, he is destroying our country. PLEASE SHOW ME ONLY 1 EXAMPLE where socialism has worked. PLEASE I BEG YOU! I bet you can't and that is where he is leading us, and people aren't going to take. There WILL people that do whatever they have to to save us from this crap!
