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Thread: What Obama is REALLY costing us

  1. #21
    Senior Member YardleyLabs's Avatar
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    Quote Originally Posted by Pals View Post
    And todays market??? Oh wait must be all that confindence in the administration and spendulous..............................

    pigs eye regards,
    So, if a one day decrease in the DOW indicates a lack of confidence in the administration, what does a four month increase reflect?

  2. #22
    Senior Member Pals's Avatar
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    absolutely nothing.......................take a look around and tell me how wonderful things are right now for common working folks? We rob from our children, bump up the economy on borrowed money and think we are fixing the problems?? The last 2 years have been a disaster in the making. What is going to happen with the next wave of forclosures Jeff? We have an anemic manufacturing base, massive deficits and Washington continues to spend money we don't have. You tell me how much confidence we should have in this administration? No never mind, I'll go ask one of my customers, they'll make more sense anyway.

  3. #23
    Senior Member YardleyLabs's Avatar
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    Quote Originally Posted by Pals View Post
    absolutely nothing.......................take a look around and tell me how wonderful things are right now for common working folks? We rob from our children, bump up the economy on borrowed money and think we are fixing the problems?? The last 2 years have been a disaster in the making. What is going to happen with the next wave of forclosures Jeff? We have an anemic manufacturing base, massive deficits and Washington continues to spend money we don't have. You tell me how much confidence we should have in this administration? No never mind, I'll go ask one of my customers, they'll make more sense anyway.
    Actually, I believe that neither a four month increase in the DOW nor a one day decrease tell us anything at all about the economy. In my mind the best measure of economic performance is what happens to median (not average) incomes. By that measure, we have been in the middle of a weak to bad economy since Clinton was President. Even at its best under Bush, the benefits of economic growth went almost entirely to the wealthiest few, leaving most with little gain or even a loss of real income. Standards of living were maintained only by spending savings (primarily home equity) and going into debt.

    Now there is no equity left and no credit to be had and standards of living for most Americans are in free fall. I do not believe that any administration can "fix" this situation without some pretty massive changes in our economy. Even then it will take years. I believe this problem had its greatest roots in Reagan's economic policies which encouraged companies to liquidate assets to by allowing those gains to be counted as short term profits. Things got a little better under Clinton, but he basically continued the same policies as Reagan. Under Bush, things got much worse.

    I believe that this administration is trying to get us back to where we were a couple of years ago, but is not addressing the fundamental problems in our economy. Instead it is trying to loosen up consumer credit.

    I believe that the last thing we need is more consumer credit. What we need are more jobs at lower and middle income levels. How to do that when US companies continue to send jobs out of the country is unclear. However, I believe one of the more crucial pieces of the puzzle will be to reduce employer responsibility for health care costs which now artificially inflate our costs of labor relative to other countries. I am disappointed that none of the health plans under consideration reduce corporate costs.
    Last edited by YardleyLabs; 10-30-2009 at 02:51 PM.

  4. #24
    Senior Member Pals's Avatar
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    Quote Originally Posted by YardleyLabs View Post
    Actually, I believe that neither a four month increase in the DOW nor a one day decrease tell us anything at all about the economy. In my mind the best measure of economic performance is what happens to median (not average) incomes. By that measure, we have been in the middle of a weak to bad economy since Clinton was President. Even at its best under Bush, the benefits of economic growth went almost entirely to the wealthiest few, leaving most with little gain or even a loss of real income. Standards of living were maintained only by spending savings (primarily home equity) and going into debt.

    Now there is no equity left and no credit to be had and standards of living for most Americans are in free fall. I do not believe that any administration can "fix" this situation without some pretty massive changes in our economy. Even then it will take years. I believe this problem had its greatest roots in Reagan's economic policies which encouraged companies to liquidate assets to by allowing those gains to be counted as short term profits. Things got a little better under Clinton, but he basically continued the same policies as Reagan. Under Bush, things got much worse.

    I believe that this administration is trying to get us back to where we were a couple of years ago, but is not addressing the fundamental problems in our economy. Instead it is trying to loosen up consumer credit.

    I believe that the last thing we need is more consumer credit. What we need are more jobs at lower and middle income levels. How to do that when US companies continue to send jobs out of the country is unclear. However, I believe one of the more crucial pieces of the puzzle will be to reduce employer responsibility for health care costs which now artificially inflate our costs of labor relative to other countries. I am disappointed that none of the health plans under consideration reduce corporate costs.
    You know Jeff I happen to agree with most of what you said there, especially about credit. However I am seriously opposed to all the money being thrown around on the east coast.

    This current administration is NOT fixing the problems, right now the gubs are just making things worse. Freeing up credit to what end??? Jobs are gone, cities are decaying and people want to put on Rose colored glasses just because the stinkin dow bottomed out and bounced based on stimulous money??? I don't believe that the government can fix the problems we have, it is up to us to fix this mess by demanding fiscal responsiblility.

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