Where is the US economy headed?

Hawkeye we need a wealthy class that can provide the risk investment funds and so on.

It just that the imbalance between that class and the rest of society had gone way too far.

There's no cure for stupid.

The U.S. economy is staring down another recession, according to a forecast from the Economic Cycle Research Institute.
"It's either just begun, or it's right in front of us," said Lakshman Achuthan, the managing director of ECRI. "But at this point that's a detail. The critical news is there's no turning back. We are going to have a new recession."

wealth belongs to the collective

If that is true, where is the incentive to create something, to work hard, and to try and accomplish anything in life?

I firmly believe that we have the right to remove wealth from the wealthy at will and treat them as criminals if they refuse to comply,

the rich need to hear Gordan Gecko's words, "in America you either do it right or you get eliminated"....we are not going to kill the wealthy unless they force us to, but if they continue to use wealth to hurt us we will take it back....wealth belongs to the collective, they have only been permitted to hold it.

Financial gain is the lowest and least honorable reason to do anything.

Cycloptichorn

Biden told Florida radio station WLRN on Thursday that voters should hold President Barack Obama, not former President George W. Bush, accountable for the poor state of America’s economy.

Conservative PAC American Crossroads circulated the startling statement Thursday afternoon, expecting it will take Democratic campaign strategists by surprise.

“Right now, understandably — totally legitimate — this is a referendum on Obama and Biden and the nature of the state of the economy,” Biden said.

Polls indicating that more Americans blame Bush for the economy than Obama are not relevant, Biden said.

“Even though fifty-some percent of the American people think that the economy tanked because of the last administration, that’s not relevant,” Biden stressed. “What’s relevant is we’re in charge. And right now we are the ones in charge and it’s gotten better, but it hasn’t gotten good enough.”

Cycloptichorn wrote:

Financial gain is the lowest and least honorable reason to do anything.

Cycloptichorn

What is this,stupid post day? If a person goes to work for financial gain to buy food to feed his or her family, I would consider that to be highly honorable, wouldn't you?

Financial gain is the lowest and least honorable reason to do anything.

I wonder how Obama likes the fact that his VP is saying this.

WASHINGTON (AP) -- Americans earned less in August than in July, the first decline in nearly two years. With less income, consumers could cut back on spending and weaken an already-fragile economy.

Their lower pay explains why consumers increased spending at a slower pace in August. And most of the increase went to pay higher prices for food and gas. When adjusted for inflation, spending was flat.

Many people tapped their savings to cover the steeper costs. The savings rate fell to its lowest level since December 2009.

The decline in income offered "more evidence that households are in quite a bind," said Paul Dales, senior U.S. economist at Capital Economics.

Why dont you just go all the way and say that everyone is olny allowed to earn a certain amount every year, and anything above that becomes the property of the state?

fight against the forces of collectivism pushed at us by Obama and his fellow Leftists

What most conservatives fail to understand is the slow but sure security o FC the middle class that the majority of all Americans are are sufferring. I'm now in Turkey where the average per capita income is $14k, but all have above standard living accommodations, and all the cities and villages we have visited are clean