[sickoflibs]

RE :”The sad thing is that 6 months ago 95% of FReepers would have backed up what I said.
We’ve got a global financial calamity and it doesn’t have anything to do with Romney and not as much to do with Obama as some would like to believe.
Our financial mess goes back decades and I’m sick of hearing these excited little voices calling for a return to the glory of 2008. That’s a damn low bar and Americans should demand more. They should be demanding a return to the economic glory of the 1950s at least.
Sure Romney will be superior to Obama but I’m not falling into the trap of thinking its the best we can do.”

You make some great points there, esp about ‘2008 glory days’. In fact if the 2005 glory days were REALLY so great then the economy wouldn't have fell off a cliff 2007 to 2008.

I think the 1950s economy is not the least bit realizable now. In the 1950s the economy was so strong that it could support some income tax rates of 90%.

They didn't have anything like this globalized economy back then, the Far East was a third world and Europe was decimated by war. The US was able to move from a total war economy to a manufacturing economy with virtually NO competition. The Truman Doctrine made Western Europe welfare clients of the US because of those things, and we had the money to do it.

I appreciate your comment. I appreciate others who don't drink the Koolaid.

[cripplecreek]

I appreciate others who don't drink the Koolaid.

Nuthin but nitro methane for me thanks and yes, I will take the red pill.

[DoughtyOne]

You make comments like this from time to time. I’m not convinced you’re wrong. We do have a number of economic differences today, some that may preclude our pulling out of this in a few years.

Growth was very slow under Bush, and he did come up with tax cuts. I’m not sure how their size compares to what Reagan did. I’ve advocated cuts to spur the economy, but you may have a point that it didn’t work under Bush. On the other hand, Bush’s cuts may not have been drastic enough to spur growth.

What’s your take on what would turn this economy around?

I personally think that pulling back a lot of our manufacturing would help. It puts people to work here, and their salaries when spent will put a lot of others back to work.

Later...