Economic Recession
- Thread starter Chris
- Start date
Cicero
Mayor
I am worried about what's happening in the European Union, because what happens there is going to directly affect our economy, as I understand how this global market works. The problem is that economic experts are predicting that the EU is about to tank into another major recession. If this happens then I think that the resulting economic slop-over will hit the United States hard as well.
D
Doc
Guest
Good point.
HOWEVER, in such circumstances, there is also OPPORTUNITY.
I honestly think that, while we should continue to engage in a "World Economy" (As if we have a choice...), we should also do what we can to ensure that AMERICA can stand on her own. That will involve some painful realignments of our financial institutions and Government.
The ONE THING we should refrain from is our current rush to copy the Socialist European Model, which is the very thing that is destroying their economies, as we speak....
degsme
Council Member
Since the GOP controls Congress, the worst is yet to come.
Cicero
Mayor
Yes, and the damnable trap of the socialist model is that every step ventured into it becomes a step that is almost impossible to withdraw after the fact.
Yes; it is obvious that the bulk of U.S. citizens [and perhaps ninety to ninety five percent of our politicians] have not yet grasped how very hard it's going to be to install economic safeguards against being dragged through the muck by the EU's plummet and to finally begin making it possible for this nation to stand on its own again . . . in general terms.
Yes; it is obvious that the bulk of U.S. citizens [and perhaps ninety to ninety five percent of our politicians] have not yet grasped how very hard it's going to be to install economic safeguards against being dragged through the muck by the EU's plummet and to finally begin making it possible for this nation to stand on its own again . . . in general terms.
P
PACE
Guest
You are right, that could "soften up" the market for us, but there is still a strong trend in the Asian market, and the Europeans made quite the investment in 2006 to put themselves in a strategic position in China, hopefully, that offsets the chaos we see with regards to the Eurozone.
But I think the worst is indeed behind us now.
Regards
Pace
But I think the worst is indeed behind us now.
Regards
Pace
888888
Council Member
well since the European countries that are failing have close to 50% govt employees and we have close to 25%, and have for an awful long time now, I don't get this thing about us going the way of socialism that people on the right keep expounding.
When you got one small segment of your population pulling out of it 35% of the life, I would think that is the biggest problem you got.
Until we figure out what is acceptable as a nation, and configure our tax code in a manner that makes sure it works good enough to provide the country with what it needs to survive we will continue to have small segment able to cause the harm that the banking and housing segments have caused.
The tax code as it stands right now is our biggest problem, and making it more in the favor of those who are prosperous as what Mitt, Newt, and santorum want too is stupid.
When you got one small segment of your population pulling out of it 35% of the life, I would think that is the biggest problem you got.
Until we figure out what is acceptable as a nation, and configure our tax code in a manner that makes sure it works good enough to provide the country with what it needs to survive we will continue to have small segment able to cause the harm that the banking and housing segments have caused.
The tax code as it stands right now is our biggest problem, and making it more in the favor of those who are prosperous as what Mitt, Newt, and santorum want too is stupid.
Cicero
Mayor
I hope you are correct Pace. I note, however, that recently economic experts warned that Chinese market expansion was slowing dramatically. If they have a sharp contraction of their economy then that is going to affect the rest of the Asian market as well, even if it opens doors for India.
Lapcat
Governor
It's called the domino effect and it's gonna be worse than the first "great depression". Lefties will, of course, blame it all on Europe (or on the Republicans, as usual).
But our spiraling debt and dollar devaluation in order to prop us up artificially is unsustainable. Anyone with even an iota of common sense knows it.
Europe has been forced to move away from their socialist policies as their economies collapse. Meanwhile, Obama is dragging the USA kicking and screaming towards the same policies that are failing around the world AS WE SPEAK? It's insane. Insane that most left-wingers can't or won't see what is going on and just how wrong our ""leadership"" is.
But our spiraling debt and dollar devaluation in order to prop us up artificially is unsustainable. Anyone with even an iota of common sense knows it.
Europe has been forced to move away from their socialist policies as their economies collapse. Meanwhile, Obama is dragging the USA kicking and screaming towards the same policies that are failing around the world AS WE SPEAK? It's insane. Insane that most left-wingers can't or won't see what is going on and just how wrong our ""leadership"" is.
Nestor2
Council Member
I think that's perfectly phrased. Part of the problem as I see it is their insistance on austerity. In order for their economies to improve, a whole lot more people need to spend money on goods, services, expansion of production, r and d, infrastructure, etc. Austerity practicaly guarentees there won't be any spending by governments, hence less spending by individuals and businesses.
lupehernandezdepedajack
Mayor
If the Euro tanks, South America will be the next rising star
Old Ridge Runner
Mayor
no one has mentioned oil. With the Arab spring in the Middle East and the EU just placing sanctions on Iranian oil, along with Onama nixing the Canadain Pipeline could mean higher fuel costs here which is going to slow or hult any recovery at all. Especially if Iran gets her hackels up and decides to try and block the strait.
Constitutional Sheepdog
][][][%er!!!!!!!
The worst is coming.
Constitutional Sheepdog
][][][%er!!!!!!!
India is no longer buying Iranian oil using the U.S. Dollar
http://www.rhgroup.net/notes/the-india-iran-oil-payment-crisis
fairsheet
Senator
Our two biggest American heretofore weaknesses vis a vis The EU and China, will turn into our greatest strengths going forward...
For decades now, our economy has spent considerably more as a percentage of GDP on defense, than those two have. That defense spending is like money in our bank - that we can draw down and shift to more productive pursuits. The EU and China don't have that "money in the bank" to draw on and to compound their issues, as we reduce our wasteful defense spending, they'll be caused to increase theirs.
Similar is true, in the context of exports. For at least several decades now, our economy has been considerably less dependent upon exports, than theirs have. We've tended to consider that to be one of our economy's weaknesses, and it probably was. But now...our economy has considerably more upside than theirs do, in terms of our expanding exports. And, it looks as if we're starting to take advantage of it. Their economies on the other hand - being as dependent as they are on exports - essentially have little place to go but down.
For decades now, our economy has spent considerably more as a percentage of GDP on defense, than those two have. That defense spending is like money in our bank - that we can draw down and shift to more productive pursuits. The EU and China don't have that "money in the bank" to draw on and to compound their issues, as we reduce our wasteful defense spending, they'll be caused to increase theirs.
Similar is true, in the context of exports. For at least several decades now, our economy has been considerably less dependent upon exports, than theirs have. We've tended to consider that to be one of our economy's weaknesses, and it probably was. But now...our economy has considerably more upside than theirs do, in terms of our expanding exports. And, it looks as if we're starting to take advantage of it. Their economies on the other hand - being as dependent as they are on exports - essentially have little place to go but down.
Dino
Russian Asset
The recession is over. Maybe we can make Obama stop making it worse?
http://www.nytimes.com/2011/10/10/us/recession-officially-over-us-incomes-kept-falling.html?_r=1
In a grim sign of the enduring nature of the economic slump, household income declined more in the two years after the recession ended than it did during the recession itself, new research has found.
Between June 2009, when the recession officially ended, and June 2011, inflation-adjusted median household income fell 6.7 percent, to $49,909, according to a study by two former Census Bureau officials. During the recession — from December 2007 to June 2009 — household income fell 3.2 percent
http://www.nytimes.com/2011/10/10/us/recession-officially-over-us-incomes-kept-falling.html?_r=1
In a grim sign of the enduring nature of the economic slump, household income declined more in the two years after the recession ended than it did during the recession itself, new research has found.
Between June 2009, when the recession officially ended, and June 2011, inflation-adjusted median household income fell 6.7 percent, to $49,909, according to a study by two former Census Bureau officials. During the recession — from December 2007 to June 2009 — household income fell 3.2 percent
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