Slow, steady GDP growth is best... (Obama, economy, education, government)

[bawac34618]

So many people think the indicator of a good economy is 4+% GDP growth like we saw in the late '90s. Trump and the GOP are currently working on rolling back all of the safeguards put into place after the 2008 crisis in hopes of returning to that kind of GDP growth. However, that is only good for the economy in the short term. It creates bubbles which always pop and result in recession. If we want a recession proof economy, slow steady growth is the way to do it. Obama's policies put us on the path to that and its disheartening that all the progress is being rolled back. It may be in 3, 5, or 10 years, but there will be another Great Recession and next time, the government won't have the means necessary to control the damage. We will be looking at a full-blown Depression.

[DRob4JC]

Bubbles are created by people who find a way to cheat the system. It has nothing to do with the growth of an economy.

Repeal Glass-Stegall, and people bent on greed used the advantages and took advantage of others to cheat the system.

The same is occurring with college education right now. The economy has nothing to do with it. Government does have something to do with it. We need to reduce its influence in the economy.

[phma]

Originally Posted by bawac34618

So many people think the indicator of a good economy is 4+% GDP growth like we saw in the late '90s. Trump and the GOP are currently working on rolling back all of the safeguards put into place after the 2008 crisis in hopes of returning to that kind of GDP growth. However, that is only good for the economy in the short term. It creates bubbles which always pop and result in recession. If we want a recession proof economy, slow steady growth is the way to do it. Obama's policies put us on the path to that and its disheartening that all the progress is being rolled back. It may be in 3, 5, or 10 years, but there will be another Great Recession and next time, the government won't have the means necessary to control the damage. We will be looking at a full-blown Depression.

Seems like you have reach the conclusion and now want to find something to backfill the reason for it.

Good luck with that.

[Mircea]

Originally Posted by bawac34618

So many people think the indicator of a good economy is 4+% GDP growth like we saw in the late '90s.

You're in uncharted territory.

The World has never seen an advanced 4th Level Economy, until only recently. For all we know, normal GDP growth in a Consumer Economy should be 1% to 3%.

Originally Posted by bawac34618

Trump and the GOP are currently working on rolling back all of the safeguards put into place after the 2008 crisis in hopes of returning to that kind of GDP growth.

You misunderstand what took place. Americans lost their jobs, couldn't secure new jobs, and then defaulted on their mortgages, which is the proximate cause of the banking collapse, not banking regulations or the lack of.

If Americans do not lose their jobs en masse, you'd be none the wiser.

Americans lost their jobs because of Capital flight to China and other developing- and emerging-States.