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Agree with you on a slow reovery. On a positive note the non-farm payrolls report just came out and the economy added 216,000 jobs in March. What America needs is some serious scientific or technical innovation to drive the economy. We really haven't had that in the past 10 years. Most of the economic growth in from 2001 to 2007 was done with smoke and mirrors.
Over the past decade though the multinationals have increased R&D labs in India and China. PhDs are cheaper over there.
Our education system is declining and the US is falling behind compared to other countries. It may not be that important today but it will matter in 10 years or so. We are #36 in math and #14 in literacy and getting worse each year.
What would it take to have even a glimmer of hope economic recovery can happen? What would it take to fix this economy? Is it even possible at this point?
Bernanke should be charged with treason as I believe he has pushed this dire situation past the point of no return. He is propping up a house of cards that should have come down back in 2001. This entire system is completely rotten and what is coming will not even be comparable to the Great Depression but more like the Dark Ages that followed the decline of Rome.
In my opinion, the only thing that just might work is ending all Quantitative Easing and raising interests rates to an extremely high level i.e. north of 10%. This will cause a dire recession and unemployment likely above 20%, but this is what is needed if we are to have a long term future. After a decade of economic stagnation in the 1970s, Volcker and Reagan actually had the balls to do what needed to be done, and as a result we had 20 years of prosperity. We MUST let this thing bottom out and begin a real expansion based on substance. If we continue down our current path, America could very likely cease to exist in its current form by mid-decade.
A result that would please many America hating powers that be.
What would it take to have even a glimmer of hope economic recovery can happen? What would it take to fix this economy? Is it even possible at this point?
Bernanke should be charged with treason as I believe he has pushed this dire situation past the point of no return. He is propping up a house of cards that should have come down back in 2001. This entire system is completely rotten and what is coming will not even be comparable to the Great Depression but more like the Dark Ages that followed the decline of Rome.
In my opinion, the only thing that just might work is ending all Quantitative Easing and raising interests rates to an extremely high level i.e. north of 10%. This will cause a dire recession and unemployment likely above 20%, but this is what is needed if we are to have a long term future. After a decade of economic stagnation in the 1970s, Volcker and Reagan actually had the balls to do what needed to be done, and as a result we had 20 years of prosperity. We MUST let this thing bottom out and begin a real expansion based on substance. If we continue down our current path, America could very likely cease to exist in its current form by mid-decade.
I don't believe it can. Not with the numbers being added to the welfare rolls. Impoverished people from throughout the world simply have to show up here to give birth and then live forever off welfare handouts and that isn't going to end.
The way we are currently going, i don't see a State of Recovery happening any time soon. If the 2 current party's would stop their bickering for a moment or two, stop acting childish, and inmature, and put their freaking thick heads together, perhaps just maybe, something might get acomplished. I am totally disgusted with both of them at present.
In my opinion, the only thing that just might work is ending all Quantitative Easing and raising interests rates to an extremely high level i.e. north of 10%. This will cause a dire recession and unemployment likely above 20%, but this is what is needed if we are to have a long term future. After a decade of economic stagnation in the 1970s, Volcker and Reagan actually had the balls to do what needed to be done, and as a result we had 20 years of prosperity. We MUST let this thing bottom out and begin a real expansion based on substance. If we continue down our current path, America could very likely cease to exist in its current form by mid-decade.
It's a Balanced Budget Amendment or we are doomed.
It is possible but it would take some really significant changes.
Elimination of free trade agreements, overhaul of the education system, elimination of corporate political bribery, eliminate the income tax and replace with a national sales tax.
Personally, I do not anticipate any of these things happening.
The wealthy are doing very well under the status quo, so there is no reason for them to allow anything to change, and they are 100% totally in charge.
It is possible but it would take some really significant changes.
Elimination of free trade agreements, overhaul of the education system, elimination of corporate political bribery, eliminate the income tax and replace with a national sales tax.
Personally, I do not anticipate any of these things happening. The wealthy are doing very well under the status quo, so there is no reason for them to allow anything to change, and they are 100% totally in charge.
I think it's the Corporations doing very well and the trickle down to their "henchmen"..the CEO's. Greed is driving all this..the more a corporation makes the more $$$ the CEO's and those running those corporations get to put in their pockets.
Those people are wealthy because of the corporations, not because of themselves.
Impoverished people from throughout the world simply have to show up here to give birth and then live forever off welfare handouts and that isn't going to end.
You see clearly and express well what too many Americans can't see. I'd rep you if I could.
Most don't understand this, this happened way before Obama and Bush turned the other cheek, alot of politicans pulled out their funds before the collapse they knew about it, its wasn't no surprise to them. Obama got stuck with the cleanup.
Actually Bush did raise the alarm but Frank and his buddies squashed it..
On the subject of Barney Frank.. I amazes me how a state can re-elect a guy over and over when he is in bed with the companies that started this entire problem. I guess it's like Johnstown Pa and Murtha.. Murtha was the king of pork.. He brought in many many millions of dollars to an area that is falling apart. The union and blue collar folks loved him.. Now that he is dead the companies that he provided with pork are laying off and the drug intelligence agency funding is being cut. Some of them seem to be thriving but I am betting within 5 years it will be a ghost town again. Murtha focused on pork instead of focusing on infrastructure and tax breaks for corporations that would have draw them to the area.
When are these politicians going to start trying to entice business instead of buying votes through pork..
Anyway.. sorry about that rant..
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Didn't anyone here see their investments start to shrink back then? Didn't that tell anyone anything or they weren't paying attention, they are paying attention now only because Obama is in office.
I saw it coming and took every penny I had out of the market and stuck it in fixed money market accounts. I didn't loose a dime but your right, they didn't tell folks it was coming and for that they are responsible for millions of Americans loosing everything they had. On the flip side imagine what would have happened if they would have told folks....
It is mind numbing that the corporations and politicians that started this mess can sleep at night. Quite honestly, I can't believe that any of the politicians that were in office when this mess went down made it through the last election. It proves to me that a vast majority of voters have no idea of what politicians are doing in Washington. Most of them get their entitlements and for that their representative or senator gets a vote.
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I doubt those born after 1980 paid any attention to this, they were 30 yrs old or younger, did they really follow the stock market at that age, maybe some 20% I'd give them.
I agree, very few folks follow the market. With the advent of 401(k)'s kids were told "just put your money in, choose a long term strategy and forget about it.. we will take care of everything". What these kids didn't realize is their money went into a huge fund and they were just a number on a page and a small number at that.. No one was watching or "investing" their money which I am sure they got the impression someone was looking out for them.. While investing is not everyone's game we do have the responsibility to manage our retirement funds and be aware of what is going on in the market so we can make reasonable decisions to assure we have money to retire on..
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