Where is the US economy headed?

I vote Aye.
1 to 1.

Nay. The rebuttals to pom's claims are pertinent and should be of interest to everyone on this forum.

For example, am I the only one that finds her claim that her exhusband falsely claimed he had her POA to borrow a ton of money in her name? I don't know what everyone else's experiences are, but according to my knowledge of how things work, that sounds a bit far fetched.

I admit that it doesn't tie into the subject of this thread real well, but it does affect how credible her opinions might be in regard to the economy or any other subject for that matter.

Among other subjects, Newt has some comments in regard to why we had a housing crisis as we did. Good video, with good points.

Yes he starts with an undoubted truth. A truth that was established under Bushy babies term. "Don't worry about if you can afford it", the banks are making money selling your inability to each other. It was a mistake that a republican admin allowed. He then makes that enormous jump of faith and ignores its source, unbridled banking capitalism, uncontrolled greed , permitted by a Republican admin, he moves on without drawing breath....clever....

Now he accuses a system that maintains every one is innocent until proven otherwise...They are terrorist, he has decided their guilt before trial, a trial he feels not necessary..The best bit, he claims the high ground by claiming past heroes as his own..Very clever and very convincing if your stupid or just simply listening to what you want to hear. He plays his trump card, Washington was just like him ,alone with a few brave enough to stand for liberty or suffer death...OOO my OO my and you bought it.

FACTS NOT OBAMA DEMOCRAT FAIRY TALES
In December, total USA civil employment in:
2007, reached a peak of over 148 million;
2008, declined to less than 144 million;
2009, declined to slightly less than 138 million.

By June 2010, total USA civil employment was only slightly more than 139 million.

ican can't see the trend line that GW Bush is responsible for. He expects Obama to change that loss of jobs immediately, if not sooner. A real putz.

Maybe Obama cant reverse the trend started by Bush.
But how about he just stop the job loss that has occurred under his admin.
Remember, under the stimulus plan Obama pushed for, unemployment would not go over 8%.
Its now almost 10%.

I agree. I DO NOT blame Obama for what's been given to him.

However, Obama made a lot of promises about what his policies would do in this current situation.....and he hasn't delivered. And it's been a very expensive failure.

Which promises has he made, exactly?

Cycloptichorn

This morning, a commentator on NPR observed that while the Republicans refuse to extend job loss compensation on the basis that it must be paid for and the budget must be balanced, they want to extend the bush tax cuts without worrying whether it can be paid for and how much it will exacerbate the unbalanced budget.

damned if you damned if you dont...Any follow up to massive cock up requires a period of instability , its painful but to be expected. Expected that is, except for those who support the twats who caused the cock up.

My one wish from the fall of 2008 was that someone had been able to put real meaning to the financial armageddon that we were pushed into preventing.

NO ONE (at least no one in their right mind) could say that Obama is responsible for the financial collapse of 2008. But Paulson and Geitner (and Bush and Obama) both insisted that we had no choice but to push ahead with the bailouts and proceed with the other economic incentives that would prevent "total collapse".

I've seen a number of interviews with both men and other financially savvy folks who, when asked what would have otherwise happened, have had empty responses like, "There's no telling precisely, of course, but it would have been baaaaaad."

I still don't think anyone has explained what would have happened in realistic enough scenarios that convinces me they have any idea of what it was they were talking about.

I understand that we were "on the brink of financial armegeddon", but how is that different than what we have today for the vast number of Americans who have either lost their jobs, their savings, their homes, their sense of security and future, or all of the above?

that would be lost,with practically no chance to claw their way back into being a successful rat racer at anytime in the foreseeable future.

Trust me, their will be hell to pay for so thoroughly failing to meet the expectations of these citizens. These people are fodder for the revolutionaries, and I used to be one......now would be a good time to take it up again.

It's an assumption xris that there was a cock-up. It could have been a carefully thought out policy designed as the only known method of achieving a desired goal. Nationalisation of the banks say or preventing the population going off their heads.

I knew one lady who had about 400 frocks and outfits who, on being invited somewhere, said "but I've nothing to wear". I know many people who feel the express need to go somewhere simply because they have a car and thus must take it out to justify it.

I don't think they do have a way to claw their way back up anytime in the foreseeable future. Maybe the 10% unemployment rate would have climbed higher still, but I do think it's all smoke and mirrors. We're mortgaging our future to keep the numbers at a level that doesn't create panic, imo. The panic will come eventually anyway.

Its not how we can manage our return? its down to more than anyone can prophesy..I will not be so bold as to support or deny what is the correct action. America has decided to support, we in the UK have decided to tighten our belts. They may both succeed or both fail. Honest men are trying to do their best. I am no supporter of our knew conservative government BUT I will give them four years without interference to prove their worth. We expect our unemployment to rise dramatically and its a conservative government. Strange how our political beliefs colour our views. Pragmatism friends, could be our saviour. We need to understand what moves and controls our ability.

How about revolting against the fact that real wages for 80% of the population haven't increased since 1979?

Don't you think that a lot of fake issues . . . gay marriage taking away from the family . . . wars in countries straddling the border of Europe and Asia . . .guns . . .immigrants . . . are put forward to cover the fact that the oligarchs have taken over?

Last night, David LEtterman pointed out that the Repubs are upset with Obama for going on vacation but he added that they don't like what he does. So, what do they want? Obama on vacation or Obama staying around doing stuff?

One of the plans of our coalition government is to have fixed term parliaments of five years. Which means the next election will be about early May 2015. With US elections in 2012 and 2016 the problems associated with elections coinciding in our two countries is thus temporarily solved. By 2020 I shouldn't think either of them will give the matter a second thought.

With getting re-elected being the only consideration for our leaders one might expect different policies at different times.



That's very magnanimous of you.

Well I said four years, it might be four months..who knows?