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obviously government spending cannot fix this situation. our government ran a record $180.7 billion over budget in july. (treasury dept), yet july's retail sales were down 0.1%, despite expectations of a 0.8% rise in sales (commerce dept).....
this is coupled with declining government revenue, which fell 5.6% from last june, to 151 billion. that is 15 straight months of revenue decline over the same period previously.
it is interesting to read britain's newspapers, as britain did the same thing the united states did, with the same consequences so far and also that the Bank of England expanded its asset-purchase program by 50 billion pounds ($84 billion) to 175 billion pounds, according to Morgan Stanley.
The central bank’s action suggests policy makers, who based the decision on quarterly forecasts prepared this month, assessed that their stimulus plan and record low interest rates weren’t enough to fight a recession that’s deeper than previously anticipated.
The holy and sanctified private sector has had free reign for a long time. An under-regulated private sector has proven to be quite adept at creating massive wealth for a handful of greedy b*stards at the expense of the rest of us. At this stage of the game, in my mind the government is actually the lesser of two evils.
The holy and sanctified private sector has had free reign for a long time. An under-regulated private sector has proven to be quite adept at creating massive wealth for a handful of greedy b*stards at the expense of the rest of us. At this stage of the game, in my mind the government is actually the lesser of two evils.
how would you trust a government that refused to prosecute the private sector crooks, even when informed about them? isn't there a lot of blame for the government as well in this whole mess?
The holy and sanctified private sector has had free reign for a long time. An under-regulated private sector has proven to be quite adept at creating massive wealth for a handful of greedy b*stards at the expense of the rest of us. At this stage of the game, in my mind the government is actually the lesser of two evils.
under-regulated because they have been able to convice our Congress and President to modify laws and regulations that have been on the books since the Great Depression. Those rules were made to prevent another great depression from happening. See what happens when you play with fire ?
how would you trust a government that refused to prosecute the private sector crooks, even when informed about them? isn't there a lot of blame for the government as well in this whole mess?
I never said that I trust a government that refused to prosecute the private sector crooks, even when informed about them. I merely stated that I see the govenment as the lesser of two evils.
how would you trust a government that refused to prosecute the private sector crooks, even when informed about them? isn't there a lot of blame for the government as well in this whole mess?
I never said that I trust a government that refused to prosecute the private sector crooks, even when informed about them. I merely stated that I see the govenment as the lesser of two evils.
I disagree with you on that. The government modified the laws to loosen or remove restrictions and limitations. They basically let these companies "self-regulate". Even Greenspan admits it was a bad move.
The one thing that's being overlooked in this thread is the efficiency that the US government can BORROW money...way easier than any other entity in the world. So even if they don't spend it as efficiently they can still come out ahead since their cost of capital is way lower than any other business in the world, not to mention their ability to influence markets in their favor.
I am not saying government spending is the solution to the problem but people frequently overlook this fact.
The one thing that's being overlooked in this thread is the efficiency that the US government can BORROW money...way easier than any other entity in the world. So even if they don't spend it as efficiently they can still come out ahead since their cost of capital is way lower than any other business in the world, not to mention their ability to influence markets in their favor.
I am not saying government spending is the solution to the problem but people frequently overlook this fact.
they can authorizing the printing of money too, but that doesn't solve our problems. otherwise. we would just print up a bunch of money to fix it. the only real growth is through real jobs and real earnings.
Last edited by floridasandy; 08-14-2009 at 01:13 PM..
The one thing that's being overlooked in this thread is the efficiency that the US government can BORROW money...way easier than any other entity in the world.
And that can be the biggest problem as well. Who is there to say "NO, enough already..cut spending" ?
Thankfully the states cannot do what the Fed/Treasury can and just "create" out of thin air.
When you can just increase your debt limit you have no incentive to stick to your budget and make that budget work. I think the outrageous prices charged to the government and paid is a good example. The government has no "ceiling". Yes they can go to Congress but Congress is spending it as quick as they create it.
Each branch of the government provides the checks and balances but I think that goes out the window when they are all acting in concert.
Very few voices in Washington are screaming "Enough already".
And that can be the biggest problem as well. Who is there to say "NO, enough already..cut spending" ?
The free market is there. Look, someone has to buy the US debt. If people didn't want to buy their debt then the free market would price it higher and it wouldn't make sense for such ridiculous amounts of borrowing.
I don't disagree with you that spending should be curtailed somewhat. But the free market is the one that lets the US get away with it, no one else.
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