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Rich ToscanoKeymaster[quote=briansd1]
This Administration inherited a horrible recession would have turned into a Great Depression without government intervention. They have done a great job in preventing the world from falling into economic calamity.
[/quote]This is just nonsense… all they did was borrow a bunch of money they didn’t have. They didn’t even do a good job spending it. They just crippled future growth (or future dollar purchasing power, depending on which way it plays out), spent a huge amount of money, wasted most of it on propping up the most incompetent industries, and then announced “Mission Accomplished.”
Let’s revisit this thread in 5 years and see what a fantastic job they did when all is said and done.
Rich ToscanoKeymaster[quote=briansd1]
This Administration inherited a horrible recession would have turned into a Great Depression without government intervention. They have done a great job in preventing the world from falling into economic calamity.
[/quote]This is just nonsense… all they did was borrow a bunch of money they didn’t have. They didn’t even do a good job spending it. They just crippled future growth (or future dollar purchasing power, depending on which way it plays out), spent a huge amount of money, wasted most of it on propping up the most incompetent industries, and then announced “Mission Accomplished.”
Let’s revisit this thread in 5 years and see what a fantastic job they did when all is said and done.
Rich ToscanoKeymaster[quote=briansd1]
This Administration inherited a horrible recession would have turned into a Great Depression without government intervention. They have done a great job in preventing the world from falling into economic calamity.
[/quote]This is just nonsense… all they did was borrow a bunch of money they didn’t have. They didn’t even do a good job spending it. They just crippled future growth (or future dollar purchasing power, depending on which way it plays out), spent a huge amount of money, wasted most of it on propping up the most incompetent industries, and then announced “Mission Accomplished.”
Let’s revisit this thread in 5 years and see what a fantastic job they did when all is said and done.
Rich ToscanoKeymasterGiven that the mid-2000s flurry of debt- and speculation-fueled “growth” really wasn’t sustainable growth at all, I’d say we’re more like 10 years in to a lost decade. For what that distinction is worth (which I admit is not much).
As for this article, it just makes me laugh that the Japan scenario is presented as the most dire possible outcome (literally: “should the most dire forecasts come to pass” — from the article).
I think we’ll be really lucky if it ends up playing out the way it did in Japan. Japan has (or at least had, in the case of the latter) a huge current account surplus and high savings rate. It was never in the situation that we are, which is that we are utterly dependent on foreign lending. Should our creditors pull the plug, that will be a lot more economically painful than the mild deflation and stagnant growth that took place in Japan.
Rich ToscanoKeymasterGiven that the mid-2000s flurry of debt- and speculation-fueled “growth” really wasn’t sustainable growth at all, I’d say we’re more like 10 years in to a lost decade. For what that distinction is worth (which I admit is not much).
As for this article, it just makes me laugh that the Japan scenario is presented as the most dire possible outcome (literally: “should the most dire forecasts come to pass” — from the article).
I think we’ll be really lucky if it ends up playing out the way it did in Japan. Japan has (or at least had, in the case of the latter) a huge current account surplus and high savings rate. It was never in the situation that we are, which is that we are utterly dependent on foreign lending. Should our creditors pull the plug, that will be a lot more economically painful than the mild deflation and stagnant growth that took place in Japan.
Rich ToscanoKeymasterGiven that the mid-2000s flurry of debt- and speculation-fueled “growth” really wasn’t sustainable growth at all, I’d say we’re more like 10 years in to a lost decade. For what that distinction is worth (which I admit is not much).
As for this article, it just makes me laugh that the Japan scenario is presented as the most dire possible outcome (literally: “should the most dire forecasts come to pass” — from the article).
I think we’ll be really lucky if it ends up playing out the way it did in Japan. Japan has (or at least had, in the case of the latter) a huge current account surplus and high savings rate. It was never in the situation that we are, which is that we are utterly dependent on foreign lending. Should our creditors pull the plug, that will be a lot more economically painful than the mild deflation and stagnant growth that took place in Japan.
Rich ToscanoKeymasterGiven that the mid-2000s flurry of debt- and speculation-fueled “growth” really wasn’t sustainable growth at all, I’d say we’re more like 10 years in to a lost decade. For what that distinction is worth (which I admit is not much).
As for this article, it just makes me laugh that the Japan scenario is presented as the most dire possible outcome (literally: “should the most dire forecasts come to pass” — from the article).
I think we’ll be really lucky if it ends up playing out the way it did in Japan. Japan has (or at least had, in the case of the latter) a huge current account surplus and high savings rate. It was never in the situation that we are, which is that we are utterly dependent on foreign lending. Should our creditors pull the plug, that will be a lot more economically painful than the mild deflation and stagnant growth that took place in Japan.
Rich ToscanoKeymasterGiven that the mid-2000s flurry of debt- and speculation-fueled “growth” really wasn’t sustainable growth at all, I’d say we’re more like 10 years in to a lost decade. For what that distinction is worth (which I admit is not much).
As for this article, it just makes me laugh that the Japan scenario is presented as the most dire possible outcome (literally: “should the most dire forecasts come to pass” — from the article).
I think we’ll be really lucky if it ends up playing out the way it did in Japan. Japan has (or at least had, in the case of the latter) a huge current account surplus and high savings rate. It was never in the situation that we are, which is that we are utterly dependent on foreign lending. Should our creditors pull the plug, that will be a lot more economically painful than the mild deflation and stagnant growth that took place in Japan.
Rich ToscanoKeymaster[quote=UCGal]
Gas prices are down YoY.
[/quote]Rich ToscanoKeymaster[quote=UCGal]
Gas prices are down YoY.
[/quote]Rich ToscanoKeymaster[quote=UCGal]
Gas prices are down YoY.
[/quote]Rich ToscanoKeymaster[quote=UCGal]
Gas prices are down YoY.
[/quote]Rich ToscanoKeymaster[quote=UCGal]
Gas prices are down YoY.
[/quote]Rich ToscanoKeymasterThanks guys…
Rich
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