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How do you view America's future in the year 2010,yes just 2 years away,but the significance in this is the "Baby Boomer" generation,there will be people retiring in a vast majority? There will be a new President in office,how will this have "Baby Boomer " effect have on Social Security ? Do you feel this country will be in a crisis if it isn't already in one with high gas prices and the war,the cost of living, housing etc.?
If we somehow manage to avoid an escalation of the Mideast war and can avoid going into Iran we may be able to turn things around. But I see a full scale Depression hitting in a couple of years and we won't have manufacturing to pull our fat out of the fire this time thanks to NAFTA etc. We can fight wars on imported goods and expect to build a strong economy.
I am very nevours about america future since I am not all that crazy about either presidential hopeful. I like mccain but I fear he will not end the war but invade other countries which will make america enemy number one while making us vulnerable to more terrorsit attacks. I don't like obama at all and I feel with all his social programs he will bankrupt america and weaken us as a superpower which again will make us vulnerable for terrorist to attack. I just pray that america will lasy until 2010 lol.
I would hope that we could get our act together. But people chatting about things is not going to work. People watching TV's for opinions is not going to work. We need to go straight to our representatives and to all of our leaders in person and demand actions that strengthen our country. But I don't see it happening. The propagandists along with the Dems/Neocons working together to pretend to be 2 different things have split the public so much that everyone just seems to root for their "team". But the Dems and Reps are selling us out daily, and we are watching rights erode. This isn't really a new thing, its been going on for a long time. But with rapid globalization, the effects of our politicians moves are more chilling IMO.
But I see a full scale Depression hitting in a couple of years
You're basing this on what data? I have not heard a single mainstream economist state anything close to it. Sure, the economy isn't as healthy as it was 2-3 years ago, but it's far from a depression.
Americans have gotten used to long stretches of fast and furious economic growth in the last 25 years. Prior to that, the cycle of growth and recession was fairly regular. Unemployment is still relatively low (around 5.5% nationally), inflation is still relatively low, interest rates are still relatively low, and most businesses are still doing quite well. There are notable exceptions like the auto industry that is suffering due to poor planning compounded by the rise in oil prices and those in the housing and building industries, but in general, the stock market is holding its own despite the daily barrage.
Banking is one sector that has been hurt badly, again partially by their own bad planning and poor lending qualification. Foreclosures, Fannie Mae, Freddie Mac and the real estate woes are certainly a worry, but as the rest of the economy recovers, the housing sector should begin to pickup and values will stabilize.
The one concern for me is that the huge budget deficit is reduced, with earmarks and pork projects brought under control. The Congress and the President... of either party, need to realize that it's not about them and the money they **** away doesn't belong to them. Spending has to be brought under control, and tax increases are not an option in a wavering economy. As our debt mounts, we cut into the credit markets and drive up interest rates, dragging down capital investment and consumer spending.
The government keeps printing money to bailout businesses, banks and now homeowners that purchased homes they could not afford. The dollar's value is deflating rapidly and the result is rapidly escalating inflation. Businesses are closing, more banks are projected to close, foreign countries are no longer using the dollar for a trading currency and they are not buying any more T-Bills. If China decides to cash in it will bankrupt the country.
Combine all that with the pitiful job market and the rising cost of living and record numbers of bankruptcies and you have all the ingredients needed for a Depression. Mainstream economists are Morons and mouth piecies for the mainstream media.
One thing could pull our fat out of the fire. It is now more cost effective for other countries to buy our products thanks to the weakening dollar. If American manufacturing can somehow find a way to rebuild or better yet, startup new lines of products, we may be able to rebuild the economy.
The government keeps printing money to bailout businesses, banks and now homeowners that purchased homes they could not afford. The dollar's value is deflating rapidly and the result is rapidly escalating inflation. Businesses are closing, more banks are projected to close, foreign countries are no longer using the dollar for a trading currency and they are not buying any more T-Bills. If China decides to cash in it will bankrupt the country.
Combine all that with the pitiful job market and the rising cost of living and record numbers of bankruptcies and you have all the ingredients needed for a Depression. Mainstream economists are Morons and mouth piecies for the mainstream media.
One thing could pull our fat out of the fire. It is now more cost effective for other countries to buy our products thanks to the weakening dollar. If American manufacturing can somehow find a way to rebuild or better yet, startup new lines of products, we may be able to rebuild the economy.
The government isn't printing anything...they are borrowing it. If they printed it, it would mean inflation like in the 1930s Weimar Republic in Germany. That isn't what's happening at all.
As for the "pitiful job market"... I think you're overstating the problem, at least at the macro level. Unemployment is about 5.5% nationally and lower in some areas. Now if you're one of the people who's lost a job, then unemployment is 100%, and I can understand your frustration.
As for your comment...
"Mainstream economists are Morons and mouth piecies for the mainstream media."
I guess you know better? Are you an economist? Do you have a degree in economics? I suppose the only trustworthy people on the economy are the fringe leftists who think we should raise taxes? It's all the fault of Halliburton...right?
No inflation? You've got to be kidding. According to the former head of the Treasury and Wall Street Journal Editor Paul Craig Roberts, Bob Chapman of the International Forecaster and Alan Greenspan our entire economy is very close to collapse.
Quite simply, and very relevant in this forum, is that we will again respect and steward our cities- something that is finally starting to happen.
Well functioning cities are safer than living rural and suburban areas, can be environmentally sustainable, and spawn artistic/ scientific advancement, i.e. Renaissance Florence, Italy.
No inflation? You've got to be kidding. According to the former head of the Treasury and Wall Street Journal Editor Paul Craig Roberts, Bob Chapman of the International Forecaster and Alan Greenspan our entire economy is very close to collapse.
I never said "NO inflation". You're putting words in my mouth. I said it was still relatively low. Historically, 4% annual inflation isn't a disaster. Remember a guy named Jimmy Carter?
Inflation peaked at an annual rate of around 5% early in the year (when you include energy prices), and has actually been declining since. It is forecast to remain around 3 to 4% in 2008 - 2009. Bernanke is cautious and is worried mostly about energy costs and the ripple they cause in food and other products. I'm not saying inflation isn't a concern, but the economy is nowhere near "collapse".
The sky is falling...the sky is falling. What we need is Obama and some nice juicy tax increases....hmmmm? That will fix everything.
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