Where in the hell did these assholes go to school? In colleges elitists attend to learn economics. The ones the majority of citizens can't afford to attend.

We are in a recession and headed for a recession (maybe even a depression) that will be the worst one in my lifetime. And there is not a damn thing they can do about it. All they are doing now is putting off the inevitable. Pick your poison on the economy either we let it fall fast and pick up the pieces later or put it off and let it fall slowly. The latter is what they are trying to do. This will take years and we risk hyper-inflation down the road

I say let it crash, as a retiree the hyper-inflation scares the hell out of me. I saw what it did to retirees in the 80’s and it ruined a lot of them. Oh well, kid’s remember me I’m your daddy and I may be moving in.

Bob

Prosperous people are strong, generous and tend to spend a lot.  In order to be prosperous, you need a way to hold create and hold wealth.  We have a zillion ways to create wealth but no safe way to store it... in fact, the federal government activily discourages people from storing wealth by inflating the crap out of the dollar and keeping interest rates down, down, way way down below the rate they are inflating.

 

Thus, Americans tend to have no monitary savings and lots of debt.  That is a fundimentally weak position to be in... weakness is the opposite of prosperity and thus... recession.

 

These idiot economists seem to think the economy is some large beast that grows or shrinks depending upon their manipulations.  That is a truly profoundly fucked up way to think of it. 

 

The economy is just a discription of all the activity we, the people, are engaging in.  Trying to manipulate the economy is the same as trying to manipulate us and that is just so very, very wrong.

 

Leave people alone.  Keep your hands off their stuff unless invited.  It is just that damned simple.  Do those two little things and we make ourselves prosperous and prosperous people tend to be, just as I said, strong, generous and tend to spend a lot.

 

This idea that we all need to be manipulated and controlled by a central power.... uhg, it is just beyond obscenity.

Here is a very good website; The Concise Encycolopedia of Economics.  http://www.econlib.org/library/CEE.html

 

In it you will find most anything you could possibly want to know about economics explained in straightforward language.

I believe, Alaska, you are of the Austrian school of economics---do you agree that the Keynesian philosophy has been the ruin of this nation, if not the economies of the entire world?  We need to return to something akin to the gold standard.  As it is now, our Federal Reserve system most closely resembles the German model in use about 1923.  this could get real scary.

  The trick is to be successful despite anything thye government does rather than rellying on it to come to the rescue.

no,  keynessian philosphy has nothing to do with the current mess.  the problem goes back to just after ww2.  japan was a real mess and very unstable.  after ww2 the usa was the master of the world,  economic wise.  when the koren conflict was going on,  japan was used as a staging area like great britian was in ww2.  this really acted as a stimuls to the japanese economy.

 

when i was growing back in the 1950s and early 1960,  most things in american stores were made in the usa.  and the few that weren't was crude.  then for reason that aren't known to all,  the american elite decide to let japan to use patants that were orginated by americans.  over the years i seen american industusties like motor cycles replaced by products from japan at first than from countries.

 

the whole outsourcing schemes is dependent on a strong dollar.  for some reason the elite are allowing the american dollar to become worthless.  look at the amount of liquidity that was created by the last three bubbles.  greenspan when he was head of the FEDS allowed low interest rates which help to form those bubbles.  than there is paulson:

 

In 2004, at the request of the major Wall Street investment houses, including Goldman Sachs, then headed by Paulson, the U.S. Securities and Exchange Commission agreed unanimously to release the major investment houses from the net capital rule, the requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. The complaint that was put forth by the investment banks was of increasingly onerous regulatory requirements -- in this case, not U.S. regulator oversight, but European Union regulation of the foreign operations of US investment groups. In the immediate lead-up to the decision, EU regulators also acceded to US pressure, and agreed not to scrutinize foreign firms' reserve holdings if the SEC agreed to do so instead. The 1999 Gramm-Leach-Bliley Act, however, put the parent holding company of each of the big American brokerages beyond SEC oversight. In order for the agreement to go ahead, the investment banks lobbied for a decision that would allow "voluntary" inspection of their parent and subsidiary holdings by the SEC.

During this repeal of the net capital rule, SEC Chairman William H. Donaldson agreed to the establishment of a risk management office that would monitor signs of future problems. This office was eventually dismantled by Chairman Christopher Cox, after discussions with Paulson. According to the New York Times, "While other financial regulatory agencies criticized a blueprint by Mr. Paulson, the Treasury secretary, that proposed to reduce their stature �?and that of the S.E.C. �?Mr. Cox did not challenge the plan, leaving it to three former Democratic and Republican commission chairmen to complain that the blueprint would neuter the agency."^[11] Changes to the net capital rule are thought to be an important factor in the credit market meltdown of 2008.

In late September 2008, Chairman Cox and the other Commissioners agreed to end the 2004 program of voluntary regulation.

http://en.wikipedia.org/wiki/Henry_Paulson

the combo of cheap interest rates and financial deregulation allowed for  larger bubbles.  and of course that would result in more severe market correction.  greenspan amd paulson are much to blame for this current mess.  and keynes was right about a free market being unwilling to regulate itself.

 

 

 

 

 

 

Post subject: Crude analogy of why Bush is to blame.
It's like this. The Federal Reserve Banking system is a like whore house. Its patrons are politicians and businessmen. For years the whore house had rules to what you could and could not do with the girls. And the unbreakable rule was that the patrons couldn't have sex with each other (CDOs) The madam of the house explained it as useful it preventing diseases that would kill us all. Starting with Regan and the Republicans, there came to be a BELIEF that modern science could cure any disease that we might get from visiting the whore house. Everyone including George W Bush kept the faith, visited the whores house and broke the house rules. Now we all got the clap and are taking medicine for it (the bailout), but the problem is we don't really have the clap, but HIV for which there is no cure. And still we love the whore house. http://2cents.dailyreckoning.com/viewtopic.php?t=39000