Quote:
Originally Posted by roachboy
is what you're trying to argue that this is not the end of capitalism as a whole?
if that's the case, then you're arguing against a straw man.
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My initial post here, 12, was simply in response to a point made in post 11. My second post, 14 addressed some of the issues presented in an article in the original post. the pattern of my other posts are similar in that they have been in response to issues that have been put on the table. I have not laid out a grand premise on this subject. What has been consistent is the fact that I have presented information that shows the recession (and I stated that I don' t dispute the conclusion that we are in a recession) is not as dire has some make it out to be and that within all of the bad news being reported there are some positive signs and indicators.
-----Added 15/12/2008 at 01 : 34 : 34-----
Quote:
Originally Posted by Baraka_Guru
Realistically? This has shaped up to be a global recession, which in itself is a bit of a rarity if you look at all the indicators. All things considered, this could be the worst economic downturn since the Depression.
It will take far more than Obama to ride this out. I think he knows that. I think most reasonable people do too. |
I agree. If there is one major difference between this US recession and most others in our history is that this recession is in a context of a global recession. And, thinking of Roach's comment this point could be put into the context of the fundamental strength and resiliency of capitalism in a generally. Economic conditions often dictate major political change. When we look at the emergence of China's capitalism or capitalism in Russia the political will to ride-out the global recession will be challenged.
-----Added 15/12/2008 at 01 : 42 : 35-----
Quote:
Originally Posted by filtherton
No. That's like looking at someone who hasn't eaten in three weeks and saying "Look, he's breathing, he's got to be strong".
Those people are just trying to find a place to put their money where they won't lose it; that's why they're willing to accept no returns on their investments. Right now, the general belief seems to be that the only good investment is one where there is zero risk. My friends, that's not an economy, we can believe in.
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No one is obligated to put their money in the US, they do so because they think the US economy is safe and that the US economy is going to be strong enough so that they get their money back with a positive yeild (they certainly expect some form of real return). The reason our government can issue bonds and notes is because of the government's ability to tax our economy, not because the government controls the printing press and can print more money. The bottom-line is that its the economy and the belief in our economy that has allowed our government to borrow. Today, the government pays less to borrow than during most any other time in history. This is a very positive long-term indicator for the economy.