Avoiding the double-dip...or worse.

Discussion in 'Economy' started by iamwhatiseem, Jun 6, 2011.

  1. iamwhatiseem
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    iamwhatiseem Gold Member

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    This is a pretty good article.
    Nothing new, but needs repeating over and over and over.

    Avoiding a Double Dip Recession, or Worse - FoxBusiness.com
     
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  2. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    I wouldn't say Americans are borrowing and spending too much, I'd reserve that criticism for the US Government.

    The jobs part has to do (I think) with trade agreements and lack of tariffs. Plus, the Federal Reserve and International bankers are robbing us blind.
     
  3. iamwhatiseem
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    iamwhatiseem Gold Member

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    Hmmm...of course Americans are borrowing too much.
    As a society - we have had negative savings for years running, which of course means people are spending more than they make - and what are the buying? - Chinese goods.

    It is simple, there are not enough jobs in this country producing things because we can't compete with a country that purposely and grossly depletes the value of their currency and pays 1/8th the wages/benefits as America.
    As the article states "it is like trying to wrestle someone bare-handed that is carrying an axe"
     
  4. California Girl
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    California Girl BANNED

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    Meanwhile, in the UK (with it's coalition government bringing in severe austerity measures), the IMF has given them the thumbs up and predicted a solid, albeit slow, recovery.

    Shame we don't have a Government with the balls to take the hard road.
     
  5. MaggieMae
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    MaggieMae Reality bits

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    Imposing tariffs, drilling for more oil, lower gasoline prices, etc., aren't going to do anything about the depressed housing market. Solving those problems are only part of the overall solution.

    Many people thought the fix to the 2008 economic meltdown was for the government to do nothing and let the free market adjust itself. If we're now headed back down the same path (a double-dip), and since the government has done all it can to jump start the economy and won't be doing any further "stimulus" at all, including further tax cuts for businesses, it's time for the free marketeers to step up and put their money where their mouths have been.

    Will the big monied interests dip into their billion-dollar bank accounts and "bail out" American businesses and industries by investing in job-creating projects here in order to compete with China? As the article points out, without jobs (good paying jobs), consumers will continue to avoid purchases of high-end product (like homes).
     
  6. MaggieMae
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    MaggieMae Reality bits

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    Blame the voters, who don't like the debt, but don't want the goodies taken away either. And Congress (whether they're Republicans, Democrats or Tea Partiers) won't go against what their constituents want if they want to get reelected. If the US government could simply mandate austerity programs, without a great hue and cry from those who would scream we've become Nazified, it might solve the problem. But you know that's not going to happen.
     
  7. American Cowboy
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    American Cowboy BANNED

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    Want to aviod a doulbe dip? Vote out Commie Obama
     
  8. California Girl
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    California Girl BANNED

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    Actually, I blame Americans... because we elect idiots. And, for the record, I include both Republicans and Democrats in that 'idiots'.

    And... for the record.... the TEA Party is not a political party. It is a political movement.

    If Obama had done what Cameron had done when he took office, we wouldn't be in such a fucking mess. Instead, he chose to stick to his arrogant stance and priorities instead of doing the right thing for the country. If he had put Healthcare on hold and focused his efforts on saving our economy from day 1, we would be in a much better position now.
     
  9. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    1. Taxes. Don't raise 'em, not yet anyway. Wipe out the most egregious tax breaks and loopholes and cut the rates to even it out. Revenues are going to go up with rates as they are.

    2. Spending. We've gotta come up with a budget plan to establish fiscal sanity and a long term debt management. You've all heard about the various entitlement programs going broke and that "unsustainable" word. Well, it's true and if we don't work out something we're fucked.

    3. Energy and gas prices. We gotta start drilling. Right now. Oil and gas commodity prices are based on future expectations, and that means an energy plan that reeduces and eventually eliminates our dependence on foreign oil. Which by the way significantly cuts into our trade deficit. Stop screwing around with that fucking high speed rail shit and the fucking windmills, they are not and will not be economically feasible for quite some time.

    4. We gotta deregulate, it costs too damn much money to comply with the blizzard of rules and regs comingout of Washington, and more on the way. It's ridiculous, we do need effective regs and strict enforcement with some teeth, but we can't be strangling business.

    5. The EPA and NLRB need to stand down a little bit.

    6. No more bailouts, there needs to be a clear understanding that if you screw up you pay the price of failure. No matter who you are.

    7. No more adjustable rate mortgages. No more federal programs to change the mortgage principle or helpmake the payments. It's between you and the bank, the gov't should be out of the picture. We need to let the housing market find the bottom without any more idiot gov't programs.

    I'm sure I forgot some stuff, but the things we need to do are not expensive. It requires a change at the top though, Obama is not going to do any of these things. He'll say it to get votes, but he won't do it.
     
  10. MaggieMae
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    I agree on the health care issue, although in the back of my mind, I know that it would have just faded away like it has for the past 60 years and we'd continue to see health care prices rise beyond control of the average person. The mishmash that resulted, however, will do little to halt that.

    What did Cameron do that an American President might not be Constitutionally able to do? That's not a rhetorical question; I'd sincerely like to know.
     

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