If you were to watch one video to learn what is going onwith our economy, this is it.I have seen quite a few, and this is the absolute best overview in easy to understand language. After you see this video, you will see why we have passed the tipping point. It slams Clinton, Bush and now Obama on not focusing on thereal problem. After viewing this, you will realize how despicable and out of touchObama is with his cap and trade and universal healthcare. The ship is literally sinking and he's trying to install a new fishfinder and brass rodholders!
That's an excellent overview that makes a lot of common sense. The guy is apparently an optimist aboutour economicfuture. I'm not sure his optimism is justified. There are just too many greedy people who want to live for today with no thought about the future we are leaving for those who will follow us. We are being led by such a man right now and his popularity remains high. He says what people want to hear. We need to make some hard decisions. Those pills will be exceedingly difficult for many to swallow, DougMD. Thanks for sharing this video. I have been following some of his suggestions in my own life for years already.
I don't see how there can be any optimism for two reasons. One, as I said, the math indicates it's too late to really turn it around without severe cutbacks and lower standard of living, which will be forced upon us on our current path anyway! Second, and most importantly, as a nation, we will not elect someone who would actually make the tough choices to TRY and turn it around, because it would be a candidate platform of cutting handouts, increased interest rates and no FURTHER tax cuts. In fact, CNNfn had a pie chart the other day showing that 43% of us don't even pay federal income taxes, and it's moving to a voting majority very quickly. Thefact is that while the "rich" is paying its fair share,at least a good percentage of the 43% that don't payYET GET HANDOUTS are not, and it leads todebt that about to crush us.
One thing Chris doesn't get into is how the debt will be paid back. As I've said in other posts, the US government will not default on its obligations. It willalso not raise taxes too much without revolt, and doing so will crush the economy and may lead to LOWER tax revenues. What will happen is the path of least resistance, and that is devaluation, the printing of money to pay creditors, which floods the economy with a LOT more cash chasing the same level of goods and services, which will causeinflation, where the value of all money assets loses purchasing power, including 401ks, savings accounts, life insurance policies, mutual funds and other securities holdings, etc. The savers will pay by having LOWER purchasing power with their holdings despite the nominal returns, i.e. they are investing to LOSE money not in nominal, but in the context of purchasing power. That is why China is pulling back from lending us more money, they don't want to get low interest rates and a net LOSS in purchasing power of their investment through devaluation.
Everyone would be better served to have their money in hard assets rather than paper assets. After you see the video, it should become clear there is no way around it. The market could go up higher in the short term, but not anywhere near its formet level in real terms, and will likely fall a LOT before the end of the summer. This is not a dip in the stock market that will be erased by a lasting recovery. The market was artificially high to begin with due to the credit bubble, and the debt load will put a major strain on future economic activity.
It covered some things, I intuitively concluded, fuzzy numbers. I mean before the election that got the libs back in control, I would listen to Rush and the alot and wonder just how out of touch they really are. No matter how good you tell people the economy is doing if their are making 20-30k or so a year they are not going to believe you . I predicted a massacre, and that whats the Reps got.
The statement like the the economy is basicly in good shape, by the views of that link is its a fantasy, I agree.
As far as electing someone that could make the hard choices, we wont get the chance. The manpulation of POTUS has IMO been a on going thing, between bribes, in the form of campaign donations, and party influence. We will only choice of who they want in there.
Both the Bush and Obama administrations were/are obsessed with handing out money willy-nilly to the big banks. Meanwhile, 29 smaller banks have gone under so far this year. It is the smaller banks that loan out the money to buy homes and keep businesses afloat:They are getting no help from the federal government.
There is a new plan afloat to give money to insurance companies. Congressional Democrats and Republicans have bought into the myth of "too big to fail." Why?Just follow the money trail fromWall St.to the US congress and the white house.
How about our kids and country's future being too important to bankrupt? Is that ever even considered?
Very sadly, it has never been a consideration. We are half way throught the fiscal year and the yearly deficit is at nearly one trillion dollars. i am very worried for my kids, my grand kids and everyyoung person who works. The only people who will made out on this deal are the fat cat bankers and their share holders. Oh, i forgot about those non-producers who are sucking on the federal mammaries.[:@]
Mr. Conservatism, I looked at the video again, and see that his optimism is simply in being able to be happy with a muchlower standard of living. I think he's basically trying to give people hope, not that we'll turn it around at all, but that you can still be happy living on much less. That's not optimism in the true sense of the word, but merely a stopgap to viewing our situation as end of the world horror.
Excellent video on why the US is going down
