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With a trade deficit exceeding 3% of GDP, either Americans borrow and spend more than they earn to keep the economy going, or the demand for U.S. made goods and services is insufficient to accomplish full employment.
Too many Americans cant find decent paying jobs, houses dont sell and prices stay depressed, and consumers dont spend. In the funk, unemployment stays above 9%, and counting adults stuck in part-time jobs or too discouraged to look, and young college graduates flipping hamburgers, it is closer to 20%.
Read more: Avoiding a Double Dip Recession, or Worse - FoxBusiness.com
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.
This is a pretty good article.
Nothing new, but needs repeating over and over and over.
With a trade deficit exceeding 3% of GDP, either Americans borrow and spend more than they earn to keep the economy going, or the demand for U.S. made goods and services is insufficient to accomplish full employment.
Too many Americans cant find decent paying jobs, houses dont sell and prices stay depressed, and consumers dont spend. In the funk, unemployment stays above 9%, and counting adults stuck in part-time jobs or too discouraged to look, and young college graduates flipping hamburgers, it is closer to 20%.
Read more: Avoiding a Double Dip Recession, or Worse - FoxBusiness.com
Avoiding a Double Dip Recession, or Worse - FoxBusiness.com
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.
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.
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.
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.
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.
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.
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.
Removing the tax perks, especially for corporations, is a no-go, at least right now but is still being negotiated I hope. That's why the deficit commission's final plan landed in the toilet. Congress would have no part of it.
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.
That's the toughest of all, again, because you can't do anything that is going to affect people already receiving benefits the way the programs were designed. So then the problem becomes the younger generations who will feel discriminated against because they will deem cuts in their benefits down the road as being unfair. With the Big 3 entitlement programs, don't forget that DoD takes a huge chunk. Again, Obama himself is looking for a way to get out of Afghanistan even faster because those two wars alone are still costing about $3 billion per week, but most Republicans in Congress and some Democrats want to stay until we finish the job (whatever that is).
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.
No, the private sector needs to start investing more in alternative energy projects, which means nothing but jobs jobs jobs. Not everyone who needs employment can go to work for an oil drilling company.
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.
Regulations protect the public from all sorts of potential problems, from tainted food and water to fraudulent lending practices. Any "deregulation" needs to be done on an agency-by-agency basis. I still think businesses that complain about too much red tape are using it as an excuse, since there have been "regulations" in place for eons, and in better economic times, they have just learned to deal with it.
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.
The government won't do any more bailouts, so when will the private sector begin investing (bailing out)?
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.
And that's what's happening. The initial assistance to help reduce foreclosures was temporary, but it was also two-fold. Keep people in their homes if possible, which would reduce the number of properties the banks would own. Banks don't want the buildings; they want the money. Lending remains a Catch-22 situation: Banks are reluctant to loan, even when a person might qualify, because the economy is still on the edge. But if they don't begin lending, the housing market will remain dismal until they do.
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.
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.
Removing the tax perks, especially for corporations, is a no-go, at least right now but is still being negotiated I hope. That's why the deficit commission's final plan landed in the toilet. Congress would have no part of it.
I dunno, could be some work done in this area.
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.
That's the toughest of all, again, because you can't do anything that is going to affect people already receiving benefits the way the programs were designed. So then the problem becomes the younger generations who will feel discriminated against because they will deem cuts in their benefits down the road as being unfair. With the Big 3 entitlement programs, don't forget that DoD takes a huge chunk. Again, Obama himself is looking for a way to get out of Afghanistan even faster because those two wars alone are still costing about $3 billion per week, but most Republicans in Congress and some Democrats want to stay until we finish the job (whatever that is).
I dunno how they're going to manage the amount of spending cuts that Boehner is talking about without getting into the entitlements. Obama is not going to give in on his healthcare plan, maybe a fix to Social Security could happen. And yes, cuts in defense too.
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.
No, the private sector needs to start investing more in alternative energy projects, which means nothing but jobs jobs jobs. Not everyone who needs employment can go to work for an oil drilling company.
Here's where we disagree, alternative energy has to be economically viable, without any subsidies. Right now, none of 'em are, and if Uncle Sam isn't footing the bill then this sector is not going to be creating many jobs. And a lot of those jobs are overseas in foreign companies rather than here.
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.
Regulations protect the public from all sorts of potential problems, from tainted food and water to fraudulent lending practices. Any "deregulation" needs to be done on an agency-by-agency basis. I still think businesses that complain about too much red tape are using it as an excuse, since there have been "regulations" in place for eons, and in better economic times, they have just learned to deal with it.
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.
The government won't do any more bailouts, so when will the private sector begin investing (bailing out)?
The private sector is sitting on a ton of money, but we're not going to see any of it until the business climate improves and employers know what the costs of creating new businesses or expanding existing ones are going to be. They're profitable now, no need for them to take chances until they se more upside and less risk.
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.
And that's what's happening. The initial assistance to help reduce foreclosures was temporary, but it was also two-fold. Keep people in their homes if possible, which would reduce the number of properties the banks would own. Banks don't want the buildings; they want the money. Lending remains a Catch-22 situation: Banks are reluctant to loan, even when a person might qualify, because the economy is still on the edge. But if they don't begin lending, the housing market will remain dismal until they do.
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.
What is it that you want Obama to "do" now?? Banks have paid back their loans, with interest, but the big investment houses are up to their same tricks. Should even MORE regulations be applied to banking? Obama cannot tell any private sector bank how to design its lending packages. No president can write bills dealing with energy, or even budgets, for that matter. All he can do is offer Congress what he would like to see happen, and the rest is up to them.
There is one very big point you guys are not seeing in the article...Americans as consumers.
There are not enough American consumers buying products manufactured in America. That is what he meant when he said the customer base for American made products are not large enough to sustain full employment.
We are finally reaching the point to where our foreign outsourcing has put enough people out of work that there is now not enough fully employed people left to by the products that ARE made here.
OVER is over.We're not going to avoid the double dip. It's already here.
What we can avoid is not having The Worst Recovery Ever again when it's over.
Douger if Rome could survive the social war, two triumvirates and whatever you want to call that mess in 70AD then I think you are prematureOVER is over.We're not going to avoid the double dip. It's already here.
What we can avoid is not having The Worst Recovery Ever again when it's over.
You aren't coming back.
It's over. FOREVER.
You are Rome. Centuries after. Figure that out. Run if you can.
If you can not. Quit paying the masters. it'll slow things down for a little bit.
As Adam Smith put it there's a lot of ruination in a country.Doesn't matter how much pandering dems or repubs do to get elected. Gravy train is almost over.
The article was good enough to get published and be believed by many, but it's full of nonsense.This is a pretty good article.
Nothing new, but needs repeating over and over and over.
With a trade deficit exceeding 3% of GDP, either Americans borrow and spend more than they earn to keep the economy going, or the demand for U.S. made goods and services is insufficient to accomplish full employment.
Too many Americans cant find decent paying jobs...
