What this Economy needs is reduce prices on everything else specially on the housing sector !....
Why it's too soon to say whether the stimulus package is working.
What this Economy needs is reduce prices on everything else specially on the housing sector !....
After January of 2010 another recesion is coming and that one will be more hard for all us !....
I think I'm feeling sick this is like take the wrong medication !.....
Obama's economic plan is shovel ready. All we have to do is bury it.
"A $14 trillion economy doesn't turn around on a dime."
It sure doesn't. I personally don't think we'll see a turnaround for some time no matter what Obama does. The damage is pretty extensive and we are not prepared, not after the orgy of greed that permeated the middle of the decade. Christ Himself could descend in glory and Rapture with angels streaming from the Heavens and his economic advisers would still be advising him to take the long-term look on when this is getting better.
We collectively merit this recession, guys and girls. The vast majority of Americans have done something to deserve it. We went off on an arrogant war with wide public support, we bought McMansions aplenty, we bought huge trucks with fat payments back in "boom times" (read as: sacrificing your house for disposable income). When you do that, you're SUPPOSED to go broke. It's going to take hard work and dedication to get out of this and all the king's horses and all the king's men and all the bitching in the world won't be able to put the country back together without it.
Do the math. As a result of this real estate bubble and financial crisis real money did not leave USA, just opposite, a lot of foreign investors were duped into US real estate scam. Wealth simply has been redistributed - greedy bankers lost, and savy people gained, keeping money in the same American banks by the way.
What we have now is how bankers and their life-long friends Democrats are trying to redistribute money back to the banks. No surprise that AIG (and not only AIG) executives got their bonuses and want more (and will get it). If you want to pay them - keep believing in this nonsense about USA downed economy, and support Obama.
"Between the end of 2007 and the first quarter of 2009, Americans' net worth fell by more than $12 trillion, nearly 20 percent":
Typical smoke screen of hired pen. All this net "worth" in 2007 was base on artificially inflated stock priced fueled by real estate craziness. If to compare with, say, 2003 - nothing was lost. In fact, things came back to whatever they were before real estate scam, and current crisis nothing but banks and Democrats' con to bring back those 20%. Promising signs in the beginning of 2009, inherited from 2008 and having nothing to do with Obama "stimulus", prove that economy was not in bad shape, but everything has changed now.
When Americans have to pay with their taxes for those $1+ trillion "stimulus" packages - then we will have stagflation and real depression.
What's even worse than AIG employees getting more, and more , and more bonuses is the hint that the first stimulus program was not enough. That they just might need a second stimulus program! How much this time? a cool trillion?
Let us look at the real picture ; G.w. Bush stood in front of the White House and said he was going to have Freddie and Fannie make loans available to low income people . Wall Street packaged the loans and sold them as stock . Savvy investors began short selling the stock which caused prices to fall to where property prices were less than the loan values . The non-Wall Street banks then found it difficult to make loans which caused a decrease in the money in circulation . This combined with the huge out-flow of money for foreign goods , services , and energy has very greatly reduced the amout of our money in circulation in our country . The real winners in this fiasco are the short sellers who are designing the next fiasco . Only two things will fix our economy . Get rid of the futures marketing and short selling . Our national security depends greatly on it .
Oh yeah, I sure am! And so are the crooks that AIG is giving more bonus's to! For what? They did not "perform well" at all!
What they did, was criminal, and are now being rewarded for it? AIG should give money to the folks they robbed.
Wy does'nt that happen? Who's in cahoots with who?
Isn't this also a self-fulfilling prophecy? The stimulus was poorly designed, comprising a steaming pile of left-over previously-rejected pork, tossed out to the groups with the best connections to the Democratic party.
It's not designed to work quickly or be particularly effective at generating jobs, therefore it shouldn't be judged as to whether it is working or not. A triumph of circular logic.
It will take more time, but yes we will recover.
Mr. Gross, you're correct that it must be easy for people who still have jobs to advise patience. When people are struggling to make the mortgage or rent payment, buy health care, purchase groceries, and finance the search for new employment patience is in really short supply. I know. "Been there-done that".
It is a sad state of affairs that the very people who are supposed to know and report on these issues use partisanship, coverup and plain old ugly hubris to cloud the issues with disingenuous statements. Useful debate and consideration has been replaced by name calling, obfuscation and lies. One only needs to know the affiliation of the speaker to know what they are going to support. We need to not only recover our economy, but also our faith in what we are being told. My bet is that the economy recovers first.
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