Where is the US economy headed?

@H2O MAN,

If 4 years is short term for you, I guess all US presidents doesn't impact our economy - you friggen ignoromous!

@cicerone imposter,

Four years is indeed a short time to dig us completely out of the mess that the GOP had gotten us into over eight years.

It is always far simpler to destroy then to rebuild after all with special note of the GOP in the house doing it best to slow down the recovery such as harming the full faith and credit of the US for example and downgrading our bond ratings as a result.

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Digging out and rebounding after 8 years of liberalism un-chained is going to require
a monumental national effort, but we the people can overcome the effects of liberalism.

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@BillRM,

BillRM wrote:

Four years is indeed a short time to dig us completely out of the mess that the GOP had gotten us into over eight years.

It is always far simpler to destroy then to rebuild after all with special note of the GOP in the house doing it best to slow down the recovery such as harming the full faith and credit of the US for example and downgrading our bond ratings as a result.

It is tough to eliminate deficits when Obama inherited two terrible unfunded wars, huge unfunded tax cuts for the super-rich, the unfunded terrible Medicare drug law, etc. Obama doesn't have the power to unilaterally eliminate these parasitic provisions.

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@Advocate,

And when he had the opportunity to work on our most reckless spending problem, healthcare, he refused.

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@hawkeye10,

hawkeye10 wrote:

And when he had the opportunity to work on our most reckless spending problem, healthcare, he refused.

I guess you never heard of Obamacare.

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@Advocate,

Quote:

ur most reckless spending problem

Then Hawkeye should be aware that most if not all economic experts also had stated the time to worry about getting spending under control is not during a period of a down turn that border on turning into another great depression.

Hell it took the period of rearming and then fighting WW2 to end the great depression once and for all.

You get the economic growing at somewhere normal rates along with unemployment rates approaching the normal range and then you begin to cut back on government spending not before.

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@Advocate,

Advocate wrote:

hawkeye10 wrote:

And when he had the opportunity to work on our most reckless spending problem, healthcare, he refused.

I guess you never heard of Obamacare.

Obamacare needs to be killed with fire - worst legislation ever!

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This pretty big for the country. Obama's goal to boost exports is about halfway there.

http://www.dailyfinance.com/2013/04/04/obama-boost-exports-manufacturing-revival-factory-comeback/

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@BillRM,

BillRM wrote:

Quote:
ur most reckless spending problem

Then Hawkeye should be aware that most if not all economic experts also had stated the time to worry about getting spending under control is not during a period of a down turn that border on turning into another great depression.

Hell it took the period of rearming and then fighting WW2 to end the great depression once and for all.

You get the economic growing at somewhere normal rates along with unemployment rates approaching the normal range and then you begin to cut back on government spending not before.

Our global economy is so fucked that there will never be the right time to be responsible. ...but trying delay the day of reckoning with debt will in the end only accomplish loaring us with more debt. This is ok so long as debts will be rubbed out when the current world order crashes, but it is not clear that this is how it goes. If the chines

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@hawkeye10,

Sorry Hawkeye but it is not repeat not being responsible to cut government spendings at the same time the economic is functioning at a low level.

To do so will bring on a crash by every economic theory I had ever hear of.

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@hawkeye10,

Do you have a prediction as to when our world is coming to an end. Or are you going to vote republican in the next election to hurry it along?

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@BillRM,

The trouble is Bill that you think of a crash in the sense that Prof. Galbraith meant it in his book The Great Crash. What is being wrestled with now is a lot worse than an itsy-bitsy crash. The prevention of cataclysm is what is going on and what we know about that could be written on the back of a postage stamp with a bill-posters brush.

I'm not convinced that those wrestling with the problem know any better. North Korea has only to bark and another hefty invoice lands on your hall carpets.

But I do hope they do. All we can do is wish them luck and cease making their difficulties greater by carping at them behind their backs. The buck does not stop here any longer. When the buck stops the fireworks start.

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@spendius,

Right, what we are looking at is a failure of the world system not a dip of a fuctioning system, a point that few get and even fewer are honest about.

Sorry about my last post...my phone froze. I was trying to say that as the old system ends we can not be sure the debts will be rubbed out and we should not count on it. If the Chinese have the military power to demand payment they almost certainly will in my opinion. This being the case we should be careful about how much debt we run up. Life will be horible for our kids and grandkids if they are forced to pay back our debts.

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@hawkeye10,

the critical flaws are:

1) the system increasingly does not need human workers and does no value them but providing work so that one can have a life is one of the primary missions of an economic system

2) our current system demands ever more consumption which is killing the planet which is carrying us

3) the current system glorifies and rewards greed, which is tearing the social fabric apart.

4) the current system is hostile to democracy at the very same time that people expect to have increasing control over their own lives

5) the system no longer properly matches rewards with value, for instance it no longer uses capital correctly and CEO's make 1000+ times more money than the guys who do the work.

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@hawkeye10,

What you say seems to be correct. But what is the solution. It is certainly not to elect Republicans, who seem to think all those things you mention to be good.

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@Advocate,

Advocate wrote:

What you say seems to be correct. But what is the solution. It is certainly not to elect Republicans, who seem to think all those things you mention to be good.

wait for the crash, then rebuild. building up tons of debt as the old system gasps its last breaths as we are doing is idiotic though....we do it because we are idiots.

I blame the education system.

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@hawkeye10,

The system no longer properly matches rewards with value, for instance it no longer encourages
people to get off welfare, food stamps and other tax payer funded government hand outs.
The system actually encourages more people to game the system and rewards them for not working.

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@H2O MAN,

H2O MAN wrote:

The system no longer properly matches rewards with value, for instance it no longer encourages
people to get off welfare, food stamps and other tax payer funded government hand outs.
The system actually encourages more people to game the system and rewards them for not working.

our over indulgence of those who claim to be victims is much more involved than that...but you are of course correct. Stupid is too close to victim for liberals to accept but you conservatives have issues as well. We could start with your fanatical belief in an economic system that has clearly failed.

Rewarding stupid and weak is a bad idea.

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@hawkeye10,

Quote:

If the Chinese have the military power to demand payment they almost certainly will in my opinion.

LOL the more the Chinese own of our total debts and it is not all that large compare to others holders of our debt such as the American people themselves for example, the more of a stakeholder they happen to be in our well being and our economy well being.

Hell as the reserve currency for the whole world happen to be the American dollar the same apply to the rest of the world also.

Footnote the US spend more on our military power then the rest of the world combine so the idea that the Chinese could hold some kind of a military threat to us is nonsense even if the used of military force would on it face be counter produced in getting paid back.

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Where is the US economy headed?

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