Where is the US economy headed?

@hawkeye10,

Yeah, Hawkeye. This hardware store died about 1990; crushed by Lowe's or Home Depot. 100 years after opening and with a lot of their business based on trust between the customers and the owners.
They stuck together through lean times, with nothing more than a handshake and eyes meeting eyes.
Times change, don't they?

1 Reply

@realjohnboy,

I am not a big fan of where we are, when trusting someone marks you as a chump. I am a socialist, I KNOW that our only hope is in working together. We are going in reverse, and have been for awhile.

1 Reply

@hawkeye10,

That's not even "devious." She's a crook/criminal.

0 Replies

@realjohnboy,

realjohnboy wrote:

The great story I can tell about checks comes from the owner of an old hardware store/farm equipment dealer here in Cville. This rich lady bought a bunch of equipment for her "yard boys." She agreed to pay $200/month for 6 months ($1,200).
She came into town faithfully on the 1st of the month but asked if she could write the check for $400 and get back $200 in cash to go shopping. They agreed.
After 3 months, she claimed the debt was paid off and she had the canceled checks (3 x $400) to prove it.
How clever is that?

And they did not have copies of the receipts showing $200 cash back each time? That seems like an easy one to prove their case against her, in court if necessary.

0 Replies

@hawkeye10,

hawkeye10 wrote:

I am not a big fan of where we are, when trusting someone marks you as a chump. I am a socialist, I KNOW that our only hope is in working together. We are going in reverse, and have been for awhile.

And when you trust the government, that makes you a bigger chump than ever, in my opinion.

0 Replies

Here is an interesting article and graph, showing Obama has the lowest percentage of people appointed to his cabinet with private sector experience, of any administration in the last century. Since this is still a capitalist country, what this means is not pretty, it means that the administration has little to no career experience in how to guide a free market economy. And this is but another indicator that Obama's foundational belief is in the state, in academia, not in the private sector, because if he was - he would appoint people that actually had some experience with it, and that have confidence in it.

Interesting sidelight, the president with the highest percentage was Eisenhower, which again raises his stock in my estimation as one of the presidents that I most admire. I have an old magazine article that Eisenhower wrote, titled "Why I am a Republican," in which he lays out his foundational beliefs in the great traditions of this country, the free market, freedom, liberty, equality of opportunity, the potential of entrepeneurship and the American people, and his distrust of big government.

http://www.forbes.com/2009/11/24/michael-cembalest-obama-business-beltway-cabinet.html

http://images.forbes.com/media/2009/12/02/1202_cabinet_398x252.jpg

1 Reply

@okie,

Quote:

Since this is still a capitalist country, what this means is not pretty, it means that the administration has little to no career experience in how to guide a free market economy

This might be worth mentioning, if we didn't just see how an 'MBA' president and team of cabinet members with lots of private sector experience wrecked the economy and turned surpluses into huge deficits through their mismanagement...

It's as if you pretend the last 8 years simply didn't happen, Okie.

Cycloptichorn

1 Reply

@Cycloptichorn,

Bush was a conservative-capitalist, and phucked the economy of the whole world in eight years. That's a first for a US president.

0 Replies

I'm sure some limp dick liberal will blame it all on Bush...

1 Reply

@H2O MAN,

I am sure that some conserative with rocks where brains would be in a normal person will claim that bush was the greatest president in history.

1 Reply

@rabel22,

Bush was a decent president and he is easily superior to Obama, but naming Bush the greatest president in history is laughable.

2 Replies

@H2O MAN,

The gall of anyone to use "decent" with GWBush is an oxymoron. They have no idea the havoc GWBush has created for millions by his destruction of the world economy, and the hundreds of thousands of innocent Iraqis he's responsible for killing and maiming.

Decent? Where do these people come from?

2 Replies

@cicerone imposter,

Decent people don't agree with ci.

2 Replies

@H2O MAN,

You shouldn't be using words like "decent" when you have no idea about its definition.

2 Replies

@cicerone imposter,

Like I said, rocks for brains. Begging the pardon of rocks.

1 Reply

@rabel22,

You seem to be begging for a brain donation

0 Replies

@H2O MAN,

H2O MAN wrote:

Bush was a decent president and he is easily superior to Obama, but naming Bush the greatest president in history is laughable.

Bush was and is a decent man, and a good American. Was he a great president. No. But certainly not the worst. I think historians will have a few to pick from in that department, including Clinton, Obama, and Carter. And don't forget LBJ, he was another huge loser of a man. A racist, he lied us into Vietnam, and he was responsible for the Great Society, which has probably done more to destroy the inner cities and the black family and community than any other program.

2 Replies

@cicerone imposter,

Did you have something of importance to add?

0 Replies

@okie,

Hoover in 1931 and 1932, and Roosevelt--upto 1941--were also no damn good.

As far as Bush 43 is concerned, things didn't really begin to cave until 2008 when Bush 43 failed miserably to convince the Democrat majorities, that took over the House and Senate in 2007, to fix the disaster brewing with Fanny and Freddie.

Quote:

2008
*03/14"J.P. Morgan and the Federal Reserve recognize extent of Bear’s toxic assets, including sub-prime mortgages, and credit default swaps, and interconnection with other banks.
*03/14"At Economic Club of New York, President Bush requests Congress take action and reform Fannie Mae and Freddie Mac.
*04/14"President Bush issues a plea to Congress to pass legislation reforming Fannie Mae and Freddie Mac.
*05/03"President Bush issues a plea to Congress to pass legislation reforming Fannie Mae and Freddie Mac.
*05/19"President Bush issues a plea to Congress to pass legislation reforming Fannie Mae and Freddie Mac.
*05/31"President Bush issues a plea to Congress to pass legislation reforming Fannie Mae and Freddie Mac.
*06/06"President Bush issues a plea to Congress to pass legislation reforming Fannie Mae and Freddie Mac.
*07/11"Senator Chris Dodd says: "There’s sort of a panic going on today, and that’s not what ought to be. The facts don’t warrant that reaction, in my opinion … Fannie Mae and Freddie Mac were never bottom feeders in the residential mortgage market. People ought to feel comfortable about that. "
*07/13"Treasury Secretary Paulson asks Congress to grant him authority to take over Fannie Mae and Freddie Mac.
*09/07"Paulson takes over Fannie Mae and Freddie Mac, and offers them $200 billion, despite the fact their government credit line had been limited to $25 billion.
*09/15"Lehman Brothers officially collapses, the government does not intervene, and panic occurs, triggering a big Dow decline.
*09/16"Nancy Pelosi is asked if the Democrats bear some responsibility for the current crisis on Wall Street. Pelosi answers, "No. "
*09/17"Harry Reid regarding the economic collapse: "No one knows what to do."
*09/18"About 11:00 AM, the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States within two hours, equal to about $550. Treasury puts $105 billion in the system, but quickly realizes it cannot correct the problem.
*09/18"Paulson and Federal Reserve Chairman Ben Bernanke ask Congress for the required funds"and unprecedented authority to bail out the entire financial system. They say failure to act means "we may not have an economy on Monday."
*09/23" Paulson and Federal Reserve Chairman Ben Bernanke in Senate Banking Committee testimony outline the $700 billion asset relief program (TARP).
*09/29"That TARP version doesn’t pass the Democrat-controlled House of Representatives.
*10/03"Three days later TARP is passed after about $112 billion is added.
*11/05"The day after Barack Obama’s election, stocks plunge 500 points.
*11/12"Paulson changes the TARP rules from purchasing "troubled assets" to buying bank stocks to spur lending.
*11/23"Paulson gives Citibank a $308 billion bailout.
*12/06"Both houses of Congress agree to bail out the U.S. auto companies.
*12/18"President-elect Obama hints at an $800 billion to $1 trillion stimulus plan within his first month of office, and the Dow drops another 2.5 percent.

1 Reply

@cicerone imposter,

cicerone imposter wrote:

You shouldn't be using words like "decent" when you have no idea about its definition.

Oooh, Oooh, I have an answer for this one.

Cicerone Imposter on another thread wrote:

I don't mind people questioning what I say, but have no patients for people who stick in one-liners that doesn't address the issues being discussed.

Damn CI, lay off CI a little bit.

1 Reply

Where is the US economy headed?

Related Topics

Quick Links

My Account

able2know