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Originally Posted by aceventura3
Proves his point. Our economy has always been fundamentally sound even during the worst parts of the "crisis", recessions are a normal part of economic business cycles, and there is a lot of data suggesting a return to strong economic growth. Some are touting evidence of a "V" shaped recovery rather than a "U" or a "W" (double dip recession) shaped recovery.
Obama's bailout plan was clearly misdirected and should have had a greater focus on jobs, but recessions don't last forever, even in-spite of bone-headed actions by those in Washington.
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I think we're in for a deeper recession simply because Obama didn't focus on jobs. Wages are still falling like a rock, I have friends who do graphic design and are losing jobs because India is outbidding them for pennies on the dollar.
As we adjust so will the rest of the world, I am a firm believer we are in an economic war and those fighting us knows this is the only way to bring us down. We lower wages to compete, they lower wages also. We lower standards, they lower standards. Etc.
The problem with this is we have a president that is a blithering idiot. He didn't focus on anything that will last in this economic stimulus. He spent far more than the government will ever take in, thus raising taxes. And they will do it in ways to hide them, more on businesses and in areas where costs will go up but we "won't notice".
Wages are decreasing school tuitions are increasing.... thus people will be forever paying back student loans.
Wages decreasing means a lower tax base that has to pay a higher bill. This means taxes have no choice but to be increased one way or another.
Greed of the wealthy continues (CEOs still wanting more pay while their workers get less, colleges increasing tuition while paying their presidents more, and so on), while the workers are barely making a living... the class gap widens and worsens.
Regulating the finance district maybe needed but we have allowed it to become so powerful we may not be able to control it without destroying the whole economy.
I see the economy doing more of a little y in that it will go up, but because of government idiocy and not creating permanency in this so called "stimulus" we'll see the economy rise (as we are) but peak fast and fall even further with an extremely low bottom. With the feel of the land and the partisan hatred and people not wanting to lose what they have, there will be a point of revolt.
This may sound radical and ya all can argue all you want and come up with all kinds of arguments it won't happen, but I think there is no way to stop it now and I believe it will happen within the next year.
There are only 2 things that can stop this: increasing tariffs on imports (which will never happen) OR some national disaster (man made terroristic act or natural) either of which would only be a temporary pause to an economy that is doomed.
When you allow the class gaps to get so wide, government worries about foreign relations more than their citizens carbon taxes, very low tariffs, etc...), mass government corruption and spending where there is no realistic way of EVER paying it back lowering the standards of living (and having a certain percentage almost eager to allow it and make excuses why it is ok), and so on.... there's no stopping it and I truly believe there are those in government that want this to happen for power and personal gain.
But call me nutty... pick out one little period placed wrong and argue about that so we don't have to focus on ALL I said to state my argument and belief.