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Agreed. 0bama is not helping to encourage people to expand or take risks, with his demands to raise taxes, or print more money, borrow more money.
0bama signed thousands of pages of new laws and regulations, many of which were basically fill-in-the-blank, and just waiting for some bureaucrat in his administration to decide what the fines, punishments, mandates and regulations were going to be. How can a business expand or hire new employees, when they do not know what the new costs, rules or tax schedules will be in six months?
Isn't the real problem the fact that America over consumes?
Now that the banks are no longer lending money to people that can never afford to pay it back the obvious effect is contraction in the economy. Like most honest economists have said, the cure is going to be worse than the disease. Just look to Greece’s austerity measures as proof.
Credit = DEBT, a 4 letter word.
Job insecurity, increased food/utility costs have put a damper on that buy, buy, buy mentality.
This is especially true in the housing market; ironically experts keep trying everything under the sun to get people to buy insanely overpriced houses again when in reality that dead horse should no longer be beaten.
This is especially true in the housing market; ironically experts keep trying everything under the sun to get people to buy insanely overpriced houses again when in reality that dead horse should no longer be beaten.
Yep, we are going through that painful correction..but in the long term I would hope this would keep people from over consuming...and making more sensisble investment/spending...unfortunately our Govt leaders seem clueless in this situation...
Americans are losing their houses in droves, 40+ million on food stamps, young Americans in debt up to their eyeballs trying to afford a college education with no hope in landing a job in the future crappy economy, our government is spending BILLIONS on bombing Libya and occupying other countries, but hey the stock market is up 100+ today! LMAO! The economy is a complete and utter joke.....one big casino where the only people making money in it are the movers and shakers with deep pockets and losing a few million here or there is no big deal.
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