Politically Incorrect but somewhat realistic GIF

In what way is this realistic?



Cheers...

 

His plans, enacted since he has come in, are 12 Trillion spent and counting. He's determined to expand government powers and organization.

To put this into perspective, the Iraq war is estimated to be up to 3 Trillion in total. This data was compiled by a left wing Economist.

 

And that amount is just to start...one estimate is a total over 100 trillion if BO is re-elected or the dollar fails which ever comes first

 

The economic cost of the Housing bubble and the financial calamities that have gone with it are in the single digit % of one year of US GDP.

He's already spent (or earmarked monies) for what amounts to 90% of US GDP for a year and counting.

 

That's hard to figure out.

 

Yeah, I'd have to say that's right on the money.

 

Ok, so how would all you economic giants 'fix' the economy?

 

Let me guess, start a war?

 

No, I just can't help but think that BO is being advised by some very highly qualified folks, he isn't just pulling this stuff from nowhere. All I hear is folks going on about how he shouldn't be spending money to fix the economy and yet nobody has suggested a viable alternative other than 'wait it out' which is fine for those of you with jobs but for the folks who have been hardest hit, well, it just ain't enough.

 

Another war would probably be cheaper, heh.

Many of BO's people have been criticized for their complete lack of business experience and education. And for being political lackeys.

It's not about "not spending money" or "waiting it out". Of course money has to be spent. It's about targeting many of the same issues, particularily with the foreclosure process and financial regulation but with more intelligent, balanced, and fiscally prudent methods in proportion to the problem at hand. Earmarking trillions and trillions of dollars on luxury projects and political favoritism and hiding it behind rhetoric & hyperbole is called "seizing the opportunity".

IE. To declare that we are all "Keynesian" again and to bring in a bunch of left wing Neo-Keynesians is exploitation, not responsible policy. Bringing up the "Heath Care" issue at this time to distract the public from more pressing matters is another.

 

Ok, I'll say that again, how would you fix the economy?

 

You managed to say nothing at all wolfy. This speech is highly rhetorical and non informative. I for once, would spend less on banks and more on small, medium corporations and parent industries (industries which have a lot of side-industries, for example, a car factory and some company which makes steel cables) in order to keep jobs. How to keep jobs, simple. If you receive funding you can't fire people. Also, a lot of infrastructural investment would be in order. Oh and buy the loans the banks have and have people pay them at affordable prices. Tough with the kind of skyrocketing loan prices you had, it'd be very difficult to pull this trough. Now, How'd you solve the problem? What do you think?
(oversimplified personal view written in a rush. I reserve myself the right to edit this post as I see fit if later on I spot some incoherence or mistake. side effects from readind this post may cause dizziness, light headedness and trends towards Socialism. Read at your own discretion.)




Cheers...

 

Wait, how is your suggestion not highly rhetorical and non-informative? It's a typical common sense so-called "humane" answer that may not be supported at all by empirical evidence or any deep analysis whatsoever.

The truth of the matter is, the blame for this recession is everywhere-from the financial illiteracy of home owners to poor/corrupt government legislation to the failures of complicated financial products, etc.. But to think of it as THE failure of capitalism is naive.

I think there should be a greater focus on improving financial transparency and accountability (fix securitization, revise the foreclosure process, modify mark to market accounting rules, expand data collecting agencies,etc.) rather than throwing trillions at creating ambitious, improvised social projects out of thin air.

 

Doing something is not necessarily better than doing nothing.

 

in the case of the economy, i agree with your statement

 

Now you're talking. See my second paragraph tough...

And who's to suffer while we wait for the market to "correct" itself? Plus, how do you know the market will find an answer? And how many people have to suffer before somethingof value is actually done? The recession is best overcome by vreating more jobs. Call it common human sense or whatever you wish but this is something urgent. That's what deep analysis will get you. In Portugal, 10% unemployement means 21 thousand million euros lost (roughly 21,000€ per person) either by non-productivity (what those people could produce) and social welfare to keep those people from starving. Imagine the toll in USA where you have a bigger workforce... I believe big change can come from small things such as assuring work posts, starting to relly on rail transportation more and more. The difference in maintenance and cost is stagering! In USA for instance 100 thousand million are wasted each year due to clogged freeways for example. The difference in total cost is actually high enough for a little joke to be created between transportation pundits "what's the part of the railway that needs more maintenance? The cross-overs where trucks pass." something along these lines. Plus, we don't hear much about rural communities here in Portugal but I believe a good way to assure people won't starve is for the governments start creating food depots by paying fair prices for the products and cutting the distribution network. Food prices could go down between 4~6X here in Portugal as an example. And it is not the same thing as a "sunday market" it's bigger in scale and aims at a broader audience.
Promoting a good working environment could also help by giving better conditions to workers in order for them to feel more confortable in spending money. Believe it or not, people who don't have the tip of the unemployement blade on their necks are more willing to spend money and in turn fuel our damaged economy. My maind focus is, stop giving money to those who created the crisis. I agree with you wolfy when you said that corruption and economic illeteracy played a major part in this crisis. Hell here in Portugal the great bank owners are getting extensive background checks. One of them led to a CIA investigation where Jardim Gonçalves(IIRC) used his bank (BCP) offshore accounts to "wash" arms dealers money. One of the CIA top ten most wanted criminals (forgot his name).
So, in a burst of "humane", I say; Let those who created and allowed for the crisis pay it! I don't want to pay 500€ (the sum every POrtuguese citizen will pay trough taxes) to give BCP 2.5 thousand million euros! I can't stand for it. If they caused 600 millions of loss (just by making their debts go to phantom banks giving an appearance of normality. Sure they had net losses of 200 million in 2 months but that's the ammount an offshore bank is owing them so, it appears they have no losses whatsoever) due to their greed, let them pay. Why, why do I have to see them recieve money from the Portuguese government and , the first thing they do is... Give Bonus to themselves on a job well done! It's so ridiculous it's actually funny...

So, to end my rant and head myself to my soft confy bed, give the money to the people who actually need it by creating a sense of financial security and jobs.





Cheers...

 

We are all going to suffer when inflation kicks in anyway.

 

Obama spending uselessly? I would never have imagined...

 

Sometimes I really can't catch up with you Americans.

During Reagans times I was totally amazed to find out that Americans were willing (many never even calculated) to pay up to 26% interest on their credit cards and bankloans in order to keep on enjoying the American way of live.

When BushI handed over a totally devestated economy (dept's of unbelievabel heights) Clinton managed the impossible so as to secure a positive houshold after 6 years.

After BushII leaves the chair your country is in a total financial havoc again due to extreme overspending and interset rates set upon interest rates to be payed back -(just as Germany) the US finance system breaks down due to the huge finance bubble (Banks no money and consumer no money) the whole world starts to collaps (right now we are still facing an economic breakdown)

and all of a sudden Obama is the one???

Regards
Kruska