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If we had better political leaders in Washington would we have a better economy? Or is the current state of the economy the fault of the business cycle?
The reason I am asking is the various Presidential Candidates say they can make the economy better once they are President, can they? Or is the current recession outside the control of the federal government (Federal Reserve, Congress, Commerce Department, President, etc.)
No, its our own fault, we pick leaders who offer entitlements and bailouts... think about it, would you hire someone that was bribing you to control your money... People hired them and guess what happened, they stoled that money for corporate interests or self-serving interests who promised to take "care" of the politicians now and later or "promote" their ideals... and when the money is gone, they blame us for it and says they need more money and tax us more... so who do you blame? The obvious crook? Or the person who hired the obvious crook? McCain and Obama are BOTH offering us money (bribes)... tell me, why are we STILL hiring crooks?
The bad economy is the result of greed, pure and simple and from all sides and all people. We've now run out of our ability to use more debt to keep this monster going.
There are some specific areas where gov't mandated policies to private businesses have come back to haunt all of us ... such as portions of the loan default situation. In the pursuit of "fairness" against prior "red-lining", the gov't ordered (federally insured bank)lending policies that loosened up lending guidelines so that otherwise unqualified and high risk/low earning folks would be able to have a chance to buy real estate ... homes.
Unfortunately, an unintended consequence was the flood of speculators and mortgage brokers that created a market bubble ... now breaking, and folks are defaulting on the notes. Some because they got very greedy, some because they shouldn't have taken on so much debt (for many reasons).
Overall, however ... I'm reminded of the fact that the "power to tax is the power to destroy". Since Congress sets the tax policies and spends the money, they have a great impact upon the wealth and productivity of the nation as a whole.
They have the power to encourage certain business activity ... or destroy it .... look at the impact of NAFTA upon jobs leaving the USA.
It strikes me that the government doesn't control the economy, but that the politicians will get the blame when the economy turns south.
But even so, a good politician will make it sound like he cares about people who are suffering.
Keep in mind that there is a delay of 18 months to 2 years (sometimes longer) between the onset of a bad policy and the repercussions of that policy. We are still suffering from some of the Clinton policies, such as the repeal of Glass-Steagall. It seems like our present woes will continue for years to come, no matter who is elected. The damage will have been done before the elections - well before.
Ron Paul is correct: "It doesn't matter who is elected - Obama or McCain".
So, both policies for reducing the corporate tax rate by 10% and small business tax credits wouldn't do anything?
Additional investments into alternative energy, drilling, etc. wouldn't do anything? Last I heard is a lot of investments are on hold or pending waiting for the federal alt. energy credits to be extended (or else they expire this year?).
Or, are those things that won't/can't happen and only wishful thinking on the politician's parts?
So, both policies for reducing the corporate tax rate by 10% and small business tax credits wouldn't do anything?
Additional investments into alternative energy, drilling, etc. wouldn't do anything? Last I heard is a lot of investments are on hold or pending waiting for the federal alt. energy credits to be extended (or else they expire this year?).
Or, are those things that won't/can't happen and only wishful thinking on the politician's parts?
-chuck22b
Sure those things would all help. Just don't expect immediate results. It took a long time for us to get into this mess, and it'll take some time to get us out.
That said, the sooner we get to work on it, the sooner we get relief!
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
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Wall Street got drunk- and Bernanke served them more alcohol!
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