Live by the sword and die by the sword....Politicians are so fond of telling how they run the economy and will "create" jobs..They like to tell us about the Bush recession and how they have cracked the code..Now with Fed Chairman Bernanke issuing a not so cheery note on the economy, Democrats are more worried than ever.
Its not their fault and its not that bad...This is still a very prosperous country and President's and politcians don't really "create" anything....So when the perception of a double dip recession comes along, they are in trouble.....In trouble in large part due their own hubris in suggesting this "stimulus" nonsense creates anything other than more debt.
Ben Bernanke dashes Democrats' hopes - Ben White - POLITICO.com
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I think government does create, along with media complicity or lack of, a mood of optimism or negativity. That effects the economy. This president has enjoyed the never ending support of all levels of media, has been able to successfully sell the idea that stimulus spending and debt is just fine. Especially when it results in Free Stuff. Now things are changing. Unemployment doesn't lie, although media does. All these folks with no job know better. People who don't work don't really care, as they have no intention of working. But there still are enough Americans who are trying to make a life for themselves to upset Obama's misinformation campaign. Nationally, Naaancie and ilk are in trouble. Around here there are enough people who get their checks from others to keep the cycle going. It'll be close. I'm most interested in the Owens/Pelosi contest. In the end it might not matter much. We have enough government to last us forever. And we do love it so. I'm just glad on got in on it early enough to survive.
why would you think that the "great minds" that create the problems in the first place are qualified to solve them? They are blind to their mistakes and the flaws in their thinking.
Most of the Great Minds you're probably thinking of never had anything but a government job. And a considerable about of daddies money and influence.
The primary cause of the recent recession was households and businesses that took on too much debt compared to their income. Government debt up until 2007 was actually reasonable compared to households and businesses. In 2008 and 2009, the federal government did what it had to do. It prevented a complete collapse of financial markets and the economy by supporting financial institutions that took on too much bad debt and by providing a stimulus in the form of tax cuts and direct spending to make up for the lack of spending by consumers and businesses. If any institution can afford to incur debt in these times, it is the federal government.
We are now in a slow recovery which is frustrating for many people, including politicians who made promises. Households and businesses are rebuilding their balance sheets as they should, and are not spending or investing. A broad stimulus now would not likely speed recovery or create jobs as much of it would find its way into savings rather than spending.
What concerns me, however, is the businessmen who claim that the lack of certainty on taxes or regulations are preventing them from investing or hiring new employees. What is holding them back is a lack of demand and a new found respect they have for market and financial risk. For instance, banks aren't lending because they don't want to take on more risks. This recovery won't take off until these businessmen start spending and investing again. And blaming government for their problems indicates a lack of personal responsibility. Government can't help us out of all our problems.
The primary cause of the recent recession is the ridiculous definition of a recession. Similar to a business being judged on this years sales growth when the previous year saw record sales growth.
Next in line of causes was the energy price bubble caused by oligopolies, price manipulation, lack of price transparency in trades, price discrimination and tax efficient opportunities to speculate in energy.
Almost equal in cause was the lack of enforcement of existing regulations for mortgage origination and relaxing housing appraisal guidelines.
Our government did not have to do anything and we would be better off if that had happened. The stimulus money only had the effect of allowing the states to continue their irrational spending habits.
There is no lack of demand to keep me from investing and hiring new employees. We have a 12 trillion dollar GNP in our country alone. I could easily steal customers and contracts from competitors if I chose too. What keeps me from investing and hiring is the added tax burden and regulations. The reward has to be worth the risk and effort. Otherwise I will spend my time and money on travel and leisure.
Wow, you guys say a lot of stuff. MD, I can't believe you've finally told the truth about some things. I am confused about some of it, but a lot that you've offered makes sense to me. You lament the fact that individuals and businesses took on too much debt. But Sir, you've always been dismissive about debt in general, to a point where you've advocated even more government borrowing so we can continue to throw money at this "stimulus" program that has yielded nothing. And what is this "govenment did what it had to do" crap about borrowing/debt? What does that mean? To me, all it ensures is we pass an unworkable economy on to our children, who will never be able to respond with flexibility to anything. They will be too busy paying off (or trying to) the debt our crooked politicians ran up buying our votes. But I gotta say, MD29e or whatever, I appreciated this post of yours more than any other.
Dems still sitting on $2 Trillion in Stimulus money. We just getting started. Let the spending begin! As, VP Biden said, "the fun stuff" is just starting. Got Airports to fix, bridges to nowhere to build... all kinds of stimulating to get done. Spend, baby, spend! BushCo and the Repubs drove the car into the ditch. Obama backing it out.
Evil, The porkulus bill was one trillion dollars. Go reread your DKOS and come back and tell us what this $2 trillion is you are talking about.
When is the maiden voyage for that high speed rail we built with this stimulus?
Ah "Bennie and The Feds" now theyve totally devalued the dollar and bailed out every FN bozo who overshot their financial wad and now Bennie and his backup singers are lookin to milk a damn dry cow again Thanks you turkeys most of our "safe investments" return an abysmal amount while all those hi riding repubs who run Banks and other "Bidnesses" shot their wads and got bailed out on our damn dime .
Time to end the madness -- no more bailouts -- live within your means or bite the dust , i for one am sick of bailing you FN high rollers out
EvilJam, are you really that clueless? The final two years of the Bush presidnecy, Congress was run by the DEMOCRATS. The final two bill passed under the Bush reign we're Democrat bills. It's those very bills that got us in such a situation to begin with.
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