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I think the recession, in itself, would end by 2010, or even by this year.
However, IMO, the lesson learnt is that the model since Bush hasn't worked.
I reckon Obama should be doing the folllowing:
- Outlaw credit cards. Or at the least, curb consumer credit. the fact that the USA has high consumer debt levels means persons cannot handle credit responsibly. Should the macroeconomic wellbeing of the USA be jeoparised, just since millions of persons each have thousands of dollars of debt on multiple credit cards?
- Invest in more manufacting R&D, offer tax breaks to manufacturers, lessen regulations on manufacturers, and ease corporation tax on secondary sector firms. In short, ease the supply side for manufacturers, and thus lower their production costs. Lower costs means US goods are more competitive in the global marketplace.
in life, we learn lessons from everything, don't we? Why then isn't Obama learning a lesson from this recession, eh?
I think the recession, in itself, would end by 2010, or even by this year.
However, IMO, the lesson learnt is that the model since Bush hasn't worked.
I reckon Obama should be doing the folllowing:
- Outlaw credit cards. Or at the least, curb consumer credit. the fact that the USA has high consumer debt levels means persons cannot handle credit responsibly. Should the macroeconomic wellbeing of the USA be jeoparised, just since millions of persons each have thousands of dollars of debt on multiple credit cards?
- Invest in more manufacting R&D, offer tax breaks to manufacturers, lessen regulations on manufacturers, and ease corporation tax on secondary sector firms. In short, ease the supply side for manufacturers, and thus lower their production costs. Lower costs means US goods are more competitive in the global marketplace.
in life, we learn lessons from everything, don't we? Why then isn't Obama learning a lesson from this recession, eh?
Credit is a driving force of any capitalistic society. Without credit we would be russia.
- Invest in more manufacting R&D, offer tax breaks to manufacturers, lessen regulations on manufacturers, and ease corporation tax on secondary sector firms. In short, ease the supply side for manufacturers, and thus lower their production costs. Lower costs means US goods are more competitive in the global marketplace.
There's not alot of mfg and R&D left iin the US for your suggestion to make a dent. The few that are here cannot mass produce for all of the US.
One example is that poison "gluten" that came from China that killed all those pets a few years back. There is only one gluten mfg company left in the US that operates for very few customers. They did not have the means, money, people or equipment to replace the 99% of all the gluten that comes from China.
Credit is a driving force of any capitalistic society. Without credit we would be russia.
And the banks have tightened up their credit. They'd rather use the money to speculate on Wall Street to earn bigger money than loan out at paltry interest rates and high risk of failure.
And the banks have tightened up their credit. They'd rather use the money to speculate on Wall Street to earn bigger money than loan out at paltry interest rates and high risk of failure.
The banks have tighten their credit because we all are screaming that banks are bad.
The banks have tighten their credit because we all are screaming that banks are bad.
I disagree with this. I think banks are not loaning money because so many people are losing their jobs. It seems like every other day we have another 50-75k people losing their jobs. So with so many jobs being lost, they are afraid to loan money to someone who may potentially lose that job.
We have a great deleveraging going on. Nothing can stop it. The debt HAS to unravel and the economy return to a norm. Thinking we can spend our way out of debt is ridiculous.
Isn't there a saying that you have to spend money to make it? Think it applies here?
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