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The recovery will be part of the normal business cycle. Obama and the Krugmanite Keynesian Klan are going to prolong the recovery with more debt and spending, but the free market is always more powerful and influential than the government could ever hope to be.
Yup - the free market sure was powerful over the past 8 years...
It led to unlimited greed and risk-taking, and the near total collapse of the financial sector - which would surely have resulted in another Great Depression...
Yeah - the free market knows and and solves all...
The booming, republican congress led economy, continued until pelosi. . . . and the fact drives you guys crazy with envy.
Was Bush's 'ownership society' cause of world economic meltdown? | Countdown to Crawford | Los Angeles Times (http://latimesblogs.latimes.com/presidentbush/2008/10/blame-bush.html - broken link)
When he was testifying before Congress the other day about the world's economic crisis, former Bush Treasury Secretary John W. Snow said that too many unqualified people got loans. He suggested that one of the culprits might have been George W. Bush's "ownership society."
The economy would've recovered on it's own. The passing of the stimulus will delay it.
All "benefits" from the stimulus are set to hit the economy on different time periods... right before the 2010 elections and again right before the 2012 elections. It won't be what some are expecting though... oh the irony! It will be painful to watch this all unfold, unfortunately for so many right now.
The recovery would have started without the so-called stimulus package sometime late this year or 2010. The stimulus package is not needed, and will do TERRIBLE HARM to the economy in the long-term.
We will move our debt load vs. GDP from about 20% to over 30% for the first time ever...and it will move toward 40% in a few years. This is the percentage that Socialist countries have! We will see years of high inflation (probably hyperinflation) because of this stimulus package. The money needed for the stimulus package will be borrowed from China and Japan who are not having good economies, and by the U.S. printing more money that devalues the dollar and causes everyone to have reduced purchasing power.
And all the entitlements, handouts and projects in this stimulus package will NOT be temporary, but instead will become PERMANENT that the government must maintain FOREVER, which means taxpayers will have to support those programs from now on.
The stimulus package is not only BAD for now...and will do very little for the recovery (which will take place anyway without any help), but the stimulus package will be TERRIBLE for the future of our economy.
The question is biased. When will the "Obama recovery" start?
So, let me get this straight. If the economy suffers further, the administration retards can make up excuses as to why the stimulus won't work (not taking the blame), but if it works by some miracle, we can refer to it as the "obama recovery"? Gotcha.
So, basically, in your small worldview, Obama is damned if he does and damned if he doesn't. Brilliant.
The economy would've recovered on it's own. The passing of the stimulus will delay it.
All "benefits" from the stimulus are set to hit the economy on different time periods... right before the 2010 elections and again right before the 2012 elections. It won't be what some are expecting though... oh the irony! It will be painful to watch this all unfold, unfortunately for so many right now.
The economy would've recovered on its own?
Interesting. Perhaps you have information that most economists--across the political spectrum--do not have? Because every economist I've read says that the stimulus is desperately needed. They debate only how much.
Interesting. Perhaps you have information that most economists--across the political spectrum--do not have? Because every economist I've read says that the stimulus is desperately needed. They debate only how much.
Here ya go:
200 Top Economists Say "Stimulus" Bill Won't Work » Propeller (http://www.propeller.com/story/2009/01/31/200-top-economists-say-quotstimulusquot-bill-won39t-work/ - broken link)
Interesting. Perhaps you have information that most economists--across the political spectrum--do not have? Because every economist I've read says that the stimulus is desperately needed. They debate only how much.
It would have. The housing bubble burst - that's what set this off. There were some very foolish people who took subprime loans and were in danger of foreclosure but they should obviously have realized that was the risk when they took those stupid loans.
The lenders that made those irresponsible loans could have collapsed, we don't need the bankers that offered stupid loans.
The housing bubble was built on ultra cheap illegal labor, illegals were brought in by the truck loads to build crappy houses for builders who were selling them at ridiculously high prices. The builders should have been allowed to go bankrupt because they've seriously overbuilt -- all for a quick easy profit.
If things were left to go on their own, if greedy bankers lost their banks and we accepted that some of the wealth wasn't real, by now we'd be in recovery. The bailouts and trillions of dollars being added to keep it all going is only going to prolong the inevitable, will only make things worse. Soon we as a nation will be unable to pay even the interest on our quickly rising debt.
It would have. The housing bubble burst - that's what set this off. There were some very foolish people who took subprime loans and were in danger of foreclosure but they should obviously have realized that was the risk when they took those stupid loans.
The lenders that made those irresponsible loans could have collapsed, we don't need the bankers that offered stupid loans.
The housing bubble was built on ultra cheap illegal labor, illegals were brought in by the truck loads to build crappy houses for builders who were selling them at ridiculously high prices. The builders should have been allowed to go bankrupt because they've seriously overbuilt -- all for a quick easy profit.
If things were left to go on their own, if greedy bankers lost their banks and we accepted that some of the wealth wasn't real, by now we'd be in recovery. The bailouts and trillions of dollars being added to keep it all going is only going to prolong the inevitable, will only make things worse. Soon we as a nation will be unable to pay even the interest on our quickly rising debt.
If it were only American dollars that vaporized that might have worked..but we depend on other countries buying our Treasuries and keeping us living in the entitled style we demand so the US Government had no choice but to bail out the banks.
We don't own our country..the US is mortgaged to the hilt to other countries.
It would have. The housing bubble burst - that's what set this off. There were some very foolish people who took subprime loans and were in danger of foreclosure but they should obviously have realized that was the risk when they took those stupid loans.
The lenders that made those irresponsible loans could have collapsed, we don't need the bankers that offered stupid loans.
The housing bubble was built on ultra cheap illegal labor, illegals were brought in by the truck loads to build crappy houses for builders who were selling them at ridiculously high prices. The builders should have been allowed to go bankrupt because they've seriously overbuilt -- all for a quick easy profit.
If things were left to go on their own, if greedy bankers lost their banks and we accepted that some of the wealth wasn't real, by now we'd be in recovery. The bailouts and trillions of dollars being added to keep it all going is only going to prolong the inevitable, will only make things worse. Soon we as a nation will be unable to pay even the interest on our quickly rising debt.
Can't let the banks fail because it's not just irreponsible homeowners and illegal workers who pay the price.
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