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None of the voting options apply to me. I think the American economic has problems, but not ones that can't be fixed.
I'm somewhat optimistic that when the dust settles the pseudo-wealth will be gone and the loafers (investment bankers etc etc) will have to do something productive. If all the energy and money that has been spent in creating idiotic financial instruments starts to be redirected towards productive business than we could be in relatively good shape next decade.
Its hard for me to be too pessimistic about the future with so many amazing technologies on the horizon. It is possible that the US completely business the boat, but so far it seems the most likely to benefit. The most impressive research is still done in the US. The federal government should increase research funding, would be a lot more productive than giving billions to useless financial corporations. It will also helps that the anti-science leaning government is getting the boot. I can only imagine what would happen if Palin was in office.....
We can't kid ourselves, we are looking at tax increases, either in real rates, inflationary or dollar devaluation. Our government has dug us into a deep hole. The deficit is truly extraordinary. Printing money to inflate the economy has worked out well for Latin america over the years, hasn't it?
Humanoid is correct, we should be spending big money on research. We are still the world leader in new technologies and we can never give that up. Education, research and development is the future. Not a bunch of I bankers sitting around swapping dollars.
Well it's bad news if we are declining or likewise not improving, the U.S. has always been the world leader but today while we outsource our jobs to China/India/Mexico/Indonesia and while countries such as China and Iran are securing dominance in their region, if the U.S. does not improve they will only be a regional power as much as France has become a regional power and no longer a world power. Economically speaking how does this tie in, well first of all the market goes up and down and the economy also has it's boom and bust cycle, the question is always when and if you can catch the right wave you can ride it to fortunes. The U.S. needs to "create jobs" the same jobs that we have outsources in recent year, it also needs to cut back on spending in which Warren Buffet would blast in 2005 as a nation of "spending junkies" and a nation of "sharecroppers". Though Buffet endorsed Obama, he like-wise acknowledges that the economy may take 4-8 years to completely turn around, Obama's spending plans may only aggravate the economy and the already ugly budget deficeit soon to exceed 12 trillion - 1 trillion of which is borrowed from China. The first surplus of which will not be until 2012 after troops are withdrawn from Iraq. If there is one person's word I would take on economics, it is Buffet. And likewise, Buffet would conclude, buy American but buy for the long run, in sum he is optimistic that the economy will turn around and the U.S. will be a superpower once again, though likely and only possible in the next administration, which I believe to be 2012-2020.
I would like to share with you some comments I have been reading:
"Life is getting to be so complicated and costly. And it seems folks are in such a hurry to get ahead, they are throwing civility out of the window."
"The people complained that the immigrants were taking away the jobs of hard-working fathers. The newspapers said they worked for little money and didn't want to become good Americans. So many foreigners were coming that in time there would hardly be any Americans left in America."
"Seems as if the country's going great guns and, all at the same time, headed for wreck and ruin. I don't much like the future I see out there, way things are going."
"You know regardless of who votes, there will be the same pack of rascals running things."
All of these came from people talking about life in the 1890s. Sound familiar?
we are no longer sinking to the bottom of the pool smiling. its unpleasant but we will make it.
GOP we dont need your rage, we need your strength, help us to take back our country.
Well so far the stock market has lost more than in the last great depression and the real unemployment rate is around 16%. Not no 8% or whatever bogus number the government says it is. We are headed for 25% unemployment at least (that is 12-13% per government numbers).
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we are no longer sinking to the bottom of the pool smiling. its unpleasant but we will make it.
GOP we dont need your rage, we need your strength, help us to take back our country.
Dude, no politician is going to fix the problem for you. Notice that whatever the government does makes it only worse. The problem IS the politicians. We need less government, not more. The sooner we realize this the better off we will be in the long run.
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I really don't know. The economy historically as always gone in cycles and usually corrects itself in time. So, I believe in the best, but am prepared to deal with the worst.
The last great depression took 10 years to recover after massive amounts of inflationary spending was pumped into the economy. For the vast majority, their retirement money has already been moved to other people's accounts. The top 1% don't control 80% of the world's wealth just out of luck buddy.
it is interesting that people still believe that a new government is going to be able to fix things for americans. government has always favored the big businesses (because that is where the money is) and that is why we had a 2 party bailout of wall street and will have more bailouts. does anyone really think that UAW will not get their bailout?
The historical period of American exceptionalism is coming to an end, but history shows that declines can take a long time to unfold, even centuries: entire regions of the Roman Empire lingered on for a thousand years after the last emperor reigned in the city of Rome and I suppose we can say that the British Empire is still in decline.
After twenty years of phenomenally good policies and technology-driven growth, over the past eight years or so the US ruling class has been irresponsible and corrupt, we are currently living the consequences of that, the country's integrity is impaired, it is an open question whether it can be restored.
The country can recover through a combination of responsible policy, hard work, and periodic technological breakthroughs.
The most likely scenario is mediocrity on all three scores, with moments of brilliance now and then, but right now we are going through a dismal period.
Responsibility, hard work and innovation begin with the individual.
Thankfully I've spent the last two years paying off debt. I hope I'll be okay when the going gets real tough. Can't say the same for many of my friends, however. For them, it's just a matter of time. The water level is climbing. It's around their knees now, but eventually, it'll have them by the neck.
On the other hand, it didn't take centuries for the Soviet Union to collapse. It's possible that we could have a rapid decline.
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Originally Posted by bale002
I voted about the same.
The historical period of American exceptionalism is coming to an end, but history shows that declines can take a long time to unfold, even centuries: entire regions of the Roman Empire lingered on for a thousand years after the last emperor reigned in the city of Rome and I suppose we can say that the British Empire is still in decline.
After twenty years of phenomenally good policies and technology-driven growth, over the past eight years or so the US ruling class has been irresponsible and corrupt, we are currently living the consequences of that, the country's integrity is impaired, it is an open question whether it can be restored.
The country can recover through a combination of responsible policy, hard work, and periodic technological breakthroughs.
The most likely scenario is mediocrity on all three scores, with moments of brilliance now and then, but right now we are going through a dismal period.
Responsibility, hard work and innovation begin with the individual.
I'll be your mirror (reflect who you are).
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