Okay Who Do We Shift The Blame For This Too?

Please, your going to justify another tax cut to spur the economy.

0 Replies

A 3.1 percent GDP growth rate is not really all that bad, until you consider one thing.

Right now, interest rates are incredibly low.

Interest rates this low should result in a roaring economy. Instead, they are resulting in a limping economy.

It's like you stick the pedal to the medal, and the car just barely gets up to highway speed. What is going to happen when you get to a hill?

0 Replies

And for those who genuflect at the altar of "It was Greenspan not Clinton in the nineties", consider that about the only thing Mr Greenspan can do is lower interest rates to spur the economy, (or raise them to slow it down). That's mostly his only power.

And now he's got the rates about as low they go. And the economy is not responding.

Anybody got any ideas? Because everyone else is fast running out of them.

0 Replies

The growth rate of the 90s was due to the construction of a new infrastructure. The economy boomed when steel was invented, and it boomed when the affordable and useful PC-internet was invented. We were constructing wireless towers, laying T-1 lines, building faster and better PCs and servers and Designing cutting edge software. We also had NAFTA and China as a Most Favored Nation which buttressed inflation.

The answer is to find the next innovation, the next infrastructure. Capitalism has always been fed by innovation. Our time is no different. I believe the new pillar of technology and technological growth will have to be alternative energy (hydrogen as well as fusion). Also, we have privatized space coming online. This area also shows promise.

0 Replies

Trupolitik wrote:

The growth rate of the 90s was due to the construction of a new infrastructure. The economy boomed when steel was invented, and it boomed when the affordable and useful PC-internet was invented. We were constructing wireless towers, laying T-1 lines, building faster and better PCs and servers and Designing cutting edge software. We also had NAFTA and China as a Most Favored Nation which buttressed inflation.

The answer is to find the next innovation, the next infrastructure. Capitalism has always been fed by innovation. Our time is no different. I believe the new pillar of technology and technological growth will have to be alternative energy (hydrogen as well as fusion). Also, we have privatized space coming online. This area also shows promise.

Unfortunately in order to do that we need innovative leadership, and that has to start at the top. Georges idea of innovation is new curb feelers for his SUV. The current leadership is interested only in maintaining milking and harvesting what profit systems are already in place, and what it means to future generations be damned. Oh, except for innovation in weapons systems. I forgot that.

0 Replies

We could become the world's center in the field of stem cell resear--

never mind.

0 Replies

C'mon, you know who's to blame for everything:

http://www.crooksandliars.com/images/2005/04/29/foxnewslive-20050428b.jpg

0 Replies

PDiddie wrote:

C'mon, you know who's to blame for everything:

PDid, always nice to see you. Listen when Texas secedes and they fire up the big purge, you and your family are welcome to crash in NC if you need a place. Just don't wait until it's too late to get out. Very Happy

0 Replies

Technology, innovation are we still in the race? I doubt it. The rest of the world is or has caught up and as someone was quoted as saying the world has flattened out. We in the near future will just be one of the pack. Industry gone, technological supremacy gone, innovation gone standard of living diminished.
That certainly is not a pretty picture of things to come.

0 Replies

blueveinedthrobber wrote:

Trupolitik wrote:
The growth rate of the 90s was due to the construction of a new infrastructure. The economy boomed when steel was invented, and it boomed when the affordable and useful PC-internet was invented. We were constructing wireless towers, laying T-1 lines, building faster and better PCs and servers and Designing cutting edge software. We also had NAFTA and China as a Most Favored Nation which buttressed inflation.

The answer is to find the next innovation, the next infrastructure. Capitalism has always been fed by innovation. Our time is no different. I believe the new pillar of technology and technological growth will have to be alternative energy (hydrogen as well as fusion). Also, we have privatized space coming online. This area also shows promise.

Unfortunately in order to do that we need innovative leadership, and that has to start at the top. Georges idea of innovation is new curb feelers for his SUV. The current leadership is interested only in maintaining milking and harvesting what profit systems are already in place, and what it means to future generations be damned. Oh, except for innovation in weapons systems. I forgot that.

Well...1 billion to hydrogen fuel cell research was a damn good thing. Whether you hate Bush or not, you have to be happy about that one. I also think his push for the privatization of space is a positive step as well. Also, I think it is a shame everyone set out to demonize his idea on going back to the moon. It is VERY rich in Helium-3 which is critical for fusion reactions. This kind of research is top priority in my mind.

0 Replies

Joe Nation wrote:

We could become the world's center in the field of stem cell resear--

never mind.

You know, you're really cruel, Joe.

Merciless, in fact. Twisted Evil

0 Replies

Privatizing space????

Isn't that like the preacher that was scamming old people by selling them spots in heaven?

0 Replies

And, who would proudly bid on Uranus?

0 Replies

Quote:

The growth rate of the 90s was due to the construction of a new infrastructure. The economy boomed when steel was invented, and it boomed when the affordable and useful PC-internet was invented. We were constructing wireless towers, laying T-1 lines, building faster and better PCs and servers and Designing cutting edge software. We also had NAFTA and China as a Most Favored Nation which buttressed inflation.

The answer is to find the next innovation, the next infrastructure. Capitalism has always been fed by innovation. Our time is no different. I believe the new pillar of technology and technological growth will have to be alternative energy (hydrogen as well as fusion). Also, we have privatized space coming online. This area also shows promise.

This isn't going to happen.

You need to realize, Tru, that the recession is happening RIGHT NOW. It won't be long before things start seriously sliding. And that's if the Chinese continue to play nice; if they decide not to, things could get very bad, very fast.

There just isn't an emerging technology that is going to pull us out of our slump this cycle. As far as I can see, there are only a few fields where this could happen right now:

Bioresearch
Space Research
Alternative Fuels
Wireless Telecomm
Nano

All of these technologies have great potential. But they aren't going to do ANYTHING this year, or next year, to help create new jobs or prop our economy up. We have far too many restrictions to be bioresearch leaders; space is a great goal but a long-term one; and the 1 Billion dollars Bush ordered spent on Hydrogen, my friend, is chump change. The idea of switching to a Hydrogen economy/fuel source is at least ten to fifteen years away before it becomes a practical idea. And he did nothing, nothing at all, for renewable resources such as wind and solar.

On the other hand, the Oil companies got more subsidies, and Exxon-Mobil profits 8 Billion dollars in the first quarter of this year. To say that Bush is doing anything about energy is farcical.

We are facing a real crisis, and we don't have any signs of leadership from the top to pull us out of this crisis.

Cycloptichorn

0 Replies

Cycloptichorn wrote:

Quote:
The growth rate of the 90s was due to the construction of a new infrastructure. The economy boomed when steel was invented, and it boomed when the affordable and useful PC-internet was invented. We were constructing wireless towers, laying T-1 lines, building faster and better PCs and servers and Designing cutting edge software. We also had NAFTA and China as a Most Favored Nation which buttressed inflation.

The answer is to find the next innovation, the next infrastructure. Capitalism has always been fed by innovation. Our time is no different. I believe the new pillar of technology and technological growth will have to be alternative energy (hydrogen as well as fusion). Also, we have privatized space coming online. This area also shows promise.

This isn't going to happen.

You need to realize, Tru, that the recession is happening RIGHT NOW. It won't be long before things start seriously sliding. And that's if the Chinese continue to play nice; if they decide not to, things could get very bad, very fast.

There just isn't an emerging technology that is going to pull us out of our slump this cycle. As far as I can see, there are only a few fields where this could happen right now:

Bioresearch
Space Research
Alternative Fuels
Wireless Telecomm
Nano

All of these technologies have great potential. But they aren't going to do ANYTHING this year, or next year, to help create new jobs or prop our economy up. We have far too many restrictions to be bioresearch leaders; space is a great goal but a long-term one; and the 1 Billion dollars Bush ordered spent on Hydrogen, my friend, is chump change. The idea of switching to a Hydrogen economy/fuel source is at least ten to fifteen years away before it becomes a practical idea. And he did nothing, nothing at all, for renewable resources such as wind and solar.

On the other hand, the Oil companies got more subsidies, and Exxon-Mobil profits 8 Billion dollars in the first quarter of this year. To say that Bush is doing anything about energy is farcical.

We are facing a real crisis, and we don't have any signs of leadership from the top to pull us out of this crisis.

Cycloptichorn

Ok...I agree with most everything you said about these things not happening anytime soon. I didnt mean to suggest they were. What I was saying is that we cannot expect the kind of growth we had in the 90s until we do. The economy does go in cycles and this is one of the reasons why. My point was also, that there isnt a fiscal policy in the world that would be a magic bullet to help our economy. Steady progress in technology, effective tax rates, proper seed money for emerging technologies is the best long term solution.

As far as the short term. I have to say I am not tookeen on the oil handouts myself. It certainly appears to be kickback. That money could be spent on Armor for our troops, research, social security, or heck...even given back to the taxpayers. If you are looking for short term solutions to help, I dunno....that is a tough one. I think getting our energy problem is pretty crucial though. That means more nuclear plants, more refineries, more domestic drilling. It also means regs for more fuel efficient cars. It wouldnt hurt my feelings if I never saw another hummer again. I am also very much in favor of bio-diesel and upping our research on solar power.

Another problem is China pegging its currrency to ours instead of having a floating currency like everyone else. I think this might change in the coming years though. their banking system is set to either collapse or be bought out by international banks soon. It will be VERY interesting to see what Wolfowitz does at the World Bank. Also, I am expecting alot more heatt coming on china from the WTO. We shall see.

I dunno....I dont pretend I have all the answers for the short term fixes. I am not sure if there are any. If you have some ideas though, I would love to hear them.

0 Replies

squinney
Who would want to buy ur anus Question

0 Replies

All of you seem to be ignoring one part of the article,so I will post it for you...

"The slowest pace of expansion since in two years was evidence of a new "soft patch."

That means that the economy has been doing BETTER then that for the last 2 years.
How can that be when all of the doomsayers have been saying that the economy was going south,how badl the economy was doing,how our country was going to hell economically.

So,if this is the WORST it has done for 2 years,that means it has been doing much better.
That kinda destroys the argument that our economy was going to hell,doesnt it.

0 Replies

Mys,

Ya gotta read up some more on what's going on. We've been fighting a delaying action with our economy for a while now; and the bad part is, if things do go south, than the longer we ignored the problems (which is what is happening right now), the worse the problems will be in the end.

Tru,

The problem is that China is going to respond to their problems by dumping their VAST reserves of dollars. This isn't going to go well for us. They've been basically subsidizing our rich lives for a while, and the debts are going to be called in at some point.

If the dollar doesn't start picking up soon vs. Gold-backed currencies, then you're going to start to see investment shift away from America. Bad things start to happen once capital flight begins, and it only will be compounded by the Chinese situation.

In the short term,

I believe that we need to be taking a hard look at the setup of our economy. It's just not a sustainable situation in the long run, and arguing right now about social security is like arguing about paying your mortage off 5 years early or not while your house is on fire!

We have to encourage more saving from people, less consumer goods (because it isn't Americans making money off of that anymore) and more energy independence by alternative means. We could have spent 10 billion for each of the last 5 years on Wind Generation and cut our energy bill in half by now. Instead, we have a war.

If the people at the top keep proclaiming that it's smooth sailing ahead, we're gonna hit the iceberg without warning and a lot of people are going to go broke in a very short amount of time. It's time for some common sense, and to batten down the hatches. Yes, this is going to cost money to big business; but who gives a damn? That money doesn't support America anyways, just the rich; The corporation is the biggest bamboozlement of the country that ever happened.

I'm not saying it's too late to save the ship, but it's getting there. We need to have leadership at the top that will match the tough times ahead, and I think the current group have shown that they are uninterested in doing so, even if they have the ability to do so.

Cycloptichorn

0 Replies

Cycloptichorn wrote:

Tru,

The problem is that China is going to respond to their problems by dumping their VAST reserves of dollars. This isn't going to go well for us. They've been basically subsidizing our rich lives for a while, and the debts are going to be called in at some point.

Do you mean their banking crisis? Also, yes, we had better prepare for china's bubble to burst or atleast deflate. That s going to create alot of havoc, and not just in the US.

0 Replies

Okay Who Do We Shift The Blame For This Too?

Related Topics

Quick Links

My Account

able2know