Borrowing money from China to spend in China isn’t really going to lead to any kind of “recovery”.
Anyone tell the US Congress that the Fuhrer is destroying the country? Anyone in Congress demanding an investigation into the Fuhrer?
Obama promised us a total transformation of America. This is merely the beginning.
The government is saying everything is OK, which implies that everything they are doing is on track.
Creating wealth, an old fashioned idea we need to return to.
Followed by slight good signs today. People really need to be careful and not get caught up in craziness. Balance.
Hope is changin indeed.
Yet the Dow showed a modest gain today.Why?
I think there’s a good chance that in Nov 012, people will refer to 2008 as the “good old days”.
Baraq is toast. At least if we can keep it a 2-way race.
ughh.. these charts mean absolutely nothing to me.
The screams will be heard coast to coast.
So there’s a balk at the next step of monetization (”QE”) in an attempt to drive oil down and the dollar up to resume the global debt game. Meanwhile, those who depend on debt for incomes/contracts shout that the sky is falling.
Geithner warns Congress on need for debt boost, extends default deadline
http://www.freerepublic.com/focus/f-bloggers/2713846/posts
Is China broke and consuming much less fuel, yet? ...doubtful.
CIA World Factbook
Country Comparison: Current Account Balance
https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html
And we’re not even into the “austerity” phase, yet.
I need the economy to not collapse in the next 5 to 10 years and I’ll be ok. If it goes to a ‘30s style depression before then, I have a back up plan but it will be tough.
Never thought I’d be talking about the American economy like this. Hopefully we can get some adults in office during the next election to stablize and improve things.
1. Aggressively audit every Federal, state and local government agency and use the audit results to start cutting down the size of government--bureaucratic overlap, agency size and regulations--by 30% initially and over 50% in around four years. For example, we need to merge Social Security, Medicare and other social services into a singular Department and potentially save over US$400 billion per year off the Federal budget.
2. Massively overhaul our income tax system to reduce compliance cost and to encourage American residents and businesses to keep their savings and capital investments in the USA. The flat income tax plan proposed by Steve Forbes in a book he wrote in 2005 should be at minimum what tax reform should be, in my humble opinion.
3. Aggressively oversee the financial markets by requiring real liquidity backing for hedge funds, derivatives, and other "new"-style investments (or ban them outright as financially too risky), increasing the minimum margin requirements (MMR) for futures trading to 20% (and require the buyer take 40% physical delivery of goods bought on the futures market), and re-imposing the Glass-Steagall Act to "firewall" bank assets from the ups and downs of the stock market. Too much of the wealth generated nowadays is through the financial markets at the expense of almost everything else in the US economy, in my humble opinion.
We're not going to get any type of economic recovery. I'm surprised that the Greeks have not considered the first two, because the corrupt government and a progressive income tax system is literally killing their economy.
Everything is getting better and better.