Sorry, though, I'm sick of the lie that this is all Obama's fault; or the flip side, that if we elect a Republican things will magically get better. They won't. The next President will inherit a financial graveyard. There isn't a policy change on the planet that will fix this.
Sure there are, as long as your goals are realistic (IOW, no 'instant fix' to 5% unemployment within a year)and policies are sensible - reducing corporate taxation, deficit spending and government waste will make dramatic economic improvements if done competently - both our neighbors Canada and Mexico are doing much better than the US relatively speaking at this point in time with more sensible fiscal and monetary policies.
People were saying just about what you were during Jimmy Carter's latter days, and looked how that turned out after a year or so of economic austerity. To say that the US is in some sort of unique economic 'graveyard' is basically only defeatism.
You are not alone for holding this view among freepers.
While I have some problems with Richard Koo’s solutions to a balance sheet recession, I agree with his diagnosis of the problem.
The only saving grace the US and Canada had were the influx of immigrants who had bulwarked the fertility rate. If the recent reports about more Mexicans leaving than coming continues as a long term trend, the US is looking at the same demographic inverted pyramid as Japan and Spain.
Just this week Spain abruptly ended socialized health care benefits to illegal aliens, while Spain’s native population has the lowest fertility rate in Europe.
The US and Spain have plenty of real estate bubble housing stock sitting vacant, and no young families to fill the homes.
—The next President will inherit a financial graveyard. There isn’t a policy change on the planet that will fix this.—
Exactly how I see it. I’ve likened our situation, politically, to us being a bus going 70 mph and the driver FINALLY looks up and notices there is a concrete wall 50 feet in front of us. No matter who we “elect” as driver, we’re gonna hit the wall at full speed.
The time for judicious application of the brakes has long passed.
its the democorrupts....