Business Week: "We're looking at a permanently smaller economy .... " (bankruptcy, loans)

[tallrick]

Originally Posted by trishguard

It's really not the governments responsibility to provide jobs for people. Anyone is always free to start up their own business and take their destiny into their own hands, but I know that's easier said than done.

It is too bad that Government always gets in the way of this. Also the ever expanding money supply steadily traansfers wealth to the top. Government and the Federal reserve are the problem, as long as they get in the way we cannot make progress easily.

[Woof]

Ummmmm, I think we've already tried the deregulation approach ..... it doesn't seem to have worked, to put it mildly.

[Bette]

Obviously, the government doesn't see unemployment as a big deal b/c companies are still outsourcing. That's where a lot of our (former) good jobs are.

Let's get them back!

C'mon, this is supposed to be "WE THE PEOPLE" and Yes, we can!

[HurrMark]

I think that there will be somewhat a rebound in the next year or two, although it will probably be a "jobless recovery" like we had in 2002-04 (on a somewhat larger scale). I do not see the economy approaching the levels it did back in the late 90s or even until 2007-08. I am concerned about a "double dip" occurring in the early 2010s, as Medicare, Social Security, and the rapid aging of the country rear their ugly head (not to mention the tremendous debt...both on a micro and macroeconomic scale). If the economy is still fragile in 3-5 years, I think things could deteriorate rapidly again, and possibly be worse than they are even now.

[bale002]

Sometimes smaller is better.

[nightbird47]

Originally Posted by Stac2007

I am not surprise to hear this terrible new but I see civil war in the near future if this trend is not reversed. Does anyone think people are going to just sit around let their entire life's work disappear? People's faith in the government is stained all ready. I don't think Washington believes Osama’s plans could make or break the nation. It could be the governments last chance to pull its self together. If not our country will fractured under the strain.

Gotta proofread more...

But a good point. People already have rapidly receeding faith in government. Those that do believe it because they choose not to see the fault lines. Should this come to be, even the sheep will know.

Government has only as much power as its given and when people begin to believe that it has failed them it erodes faster. When things get to the point where the safety of the familiar, no matter how bad, is no longer important what looks solid will fracture

What will make a difference is change that is basic. Housing must not be considered 'wealth', it is a place to live. Credit must be used wisely or not at all. We don't fix this and we are bound to fail

And there will be a change, no matter how this works out. People are still driving less when gas prices dropped since they got used to it. When we have to think about spending that dollar and what we can get and how far it can go, when we learn that the hard core basics are food and shelter and safety, people will be far less likely to risk these for the dollars to buy toys. If our economy is built on bubbles like infated housing and credit then it very badly NEEDS to change.

[Internet nut]

Originally Posted by bale002

Sometimes smaller is better.

In theory unless you are the one looking for work and want to pay your rent and have a good career!

[bale002]

Originally Posted by Internet nut

In theory unless you are the one looking for work and want to pay your rent and have a good career!

I think those results are still possible. What is not possible is to have "real" income and a "good" career in a debt-based consumer-driven economy.

In short, the US needs a better balance between spending on productive investment and spending on consumption, and, in theory, economic policy, including career education and retraining programs, should be geared towards achieving that result.

But I expect little of that to happen in the next two to four years. It seems that the main priority of the policymakers is to continue the bubble and rob what's left of the treasury.

I hope I am wrong, but, let's face it, even the treasury of secretary is a tax cheat. Clinton has earned millions in foreign speaking fees. C'mon, do you really think they care about the average guy's paying his rent or his career through a real productive job on US soil?

Again, I hope I am wrong.

[le roi]

Originally Posted by Bette

Obviously, the government doesn't see unemployment as a big deal b/c companies are still outsourcing. That's where a lot of our (former) good jobs are.

Let's get them back!

C'mon, this is supposed to be "WE THE PEOPLE" and Yes, we can!

We can't run the printing presses any faster, can we?

Weaken the dollar, our standard of living goes in the commode, but maybe we get some jobs back.

[StealthRabbit]

Originally Posted by Internet nut

In theory unless you are the one looking for work and want to pay your rent and HAD a good career!

was good while it lasted... I felt bad about working 32 yrs and getting axed 6 wks before retirement, but this week a friend with 27 yrs was axed 13 days prior to retirement eligibility (gotta love this 'free country') Now for the 'free' or even available health care.
$33/ day for property taxes + $34/day for health insurance premium + $4/day for food = something is wrong with this equation. (and it is not sustainable when income = ZERO... for last 4 yrs )