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I read the link Dawg.....I guess this is why the Chinese are tying to remove the US dollar as the world's reserve currency. I don't know....likely there will be some inflation, but I don't see happening to the extremes posted here.....$10 gallon of milk or whatever was stated. I'm no economist either. We can only monitor it and see how she goes over the next couple years.

I'd say it's a real good time to refinance your mortgage if you can (now). Interest rates will go up and quickly, if inflation starts to creep in.

 

A lot of differing ideas going on here. Sounds like the very same liberal vs conservative arguments going on all over the internet.

Well, I am neither liberal, nor conservative. Im one of those mythical "undecided" voters who generally votes for the person they best see fit. However, in most cases it feels much more like the lesser of two evils.

As this is an economy thread, I will stick to just the economy.

Capitalism means taking the bad along with the good, not taking the good and bailing out the bad. "Too big to fail" is one of the stupidest phrases ever to be assembled in the English language.

In my opinion the only way to fix what has been broken for some time now is to "trim the fat". Banks, big business (specifically the American auto Industry), these businesses provide either a product or a service, and those products and services have a need. The need does not go away just because the company goes under. In fact, the need often grows as people who had the need scramble to find a new provider.

This can be applied to the bank industry but for the purpose of simplification I will simply just reference the American Auto Industry.

Lets use Chrysler as its an easy target, and by all rights should be out of business, bankrupt. If Chrysler goes belly up, people will lose their jobs surely. However there is still a need for new automobiles out there. People who previously would have purchased a Chrysler made vehicle will now have to look elsewhere to purchase their cars and trucks. That gives way to other existing car companies to "step it up". Eventually (and the process may take a few years) other car companies will fill the void left by Chrysler. Eventually when demand takes over those old factories previously owned by Chrysler will be bought by someone else, and hire people to work in them. Maybe its GM, maybe its Nissan, but the process of trimming the fat, cutting off the waste will strengthen the remaining companies.

Now the problem is, this process of streamlining in a global economy could and most likely will take years. No President wants to be the barer of bad news, and no President is willing to tell the American people to suck it up, we are in for the long haul. But we are in it for the long haul. Right now we are propping a house with twigs. We should be bulldozing it and rebuilding it better.

Does it suck? Yep. But guess what, thats life sometimes.

But Americans in general are a pampered people. This generation is not willing to sacrifice a little for the greater good. Its a dam good thing World War II happened in the 40's because if it happened today, I don't know that we would have a population willing to go without to better the country. Rationing and shortages? You would have people screaming foul on a daily basis. Imagine going into the grocery store and finding they are all out of cheese and milk. What would people today do? Complain, cry. Expect someone to provide it for them immediately.

All that being said, anyone who blames Obama for the current economic mess is still wrong. This downward spiral we are in started years ago. Before Obama, before 9/11 and before Bush. Republicans in congress from the Reagan Administration until now have been pushing for less government regulation in every industry, especially banking. The end of great depression came with significant government regulation that has been eroded away in the last 30 years. The government is not perfect, and clearly has no earthly business trying to run private companies and banks, but the oversight and regulation we had in place was just enough to keep companies honest. To keep them from doing things that might get them a short term profit at the expense of long term financial goals. Capitalism is a great concept, and it does work, but it does need a small amount of supervision.

The Savings and Loan scandals, the overinflated stock prices of the 90's, predatory lending, bank mismanagement, all of it can be tracked to removing regulations in their respective industries.

We had ups and downs in the economy, but no major economy shattering depressions from the end of the great depression until now.

The funny thing is, we probably could have gone another 10-20 years before a major crash had the 9/11 attacks not occurred. That event created an artificial crash, that exposed the major weaknesses in our economy. It accelerated us to be in the situation we are in today.

And so ends my rant. You can probably tell from my post why clearly I answer to neither republican or democratic callings. They are both flawed ideals, neither of which truly respect the constitution.

 

I don't blame Obama for what got us here, there is more than enough blame to go around. I do however feel that he is making the problem Worse with much of the action he is taking. Only time will tell.

The biggest problem with Chrysler is that it is a Privately owned company. The investment group that owns Chrysler has more than enough capital to operate it, but they refuse to invest any more money into it. Instead We the taxpayer have been keeping it afloat. Now the Government is GIVING a large portion of it to the Unions for OUR investment. Chrysler should have been allowed to fold.

 

Everyone keeps saying he is a bad president, but don't realize it'll take a very, very long time to fix what Bush messed up.

 

Even longer to pay off what Obama is doing now.

 

Problem is, he's Not fixing anything. Bush created a Trillion Dollar Deficit in his 8 years in office. That's unaceptible. Obama is increasing it to 10 TRILLION by 2012. How is that "Fixing" anything?

The Obama supporters are only going to be able to use that excuse for so long and that time is pretty much up. It's His economy now and His problem.

 

Don't mean to burst your bubble, but you need to back up and research the "real" story behind the pirate deal! It was not by his order, actually it shadowed his order by means of necessity. Permission was requested on 2 or 3 occasions to deal a remedy and it was rejected by the obamama in each and every case.

 

Correct. He only allowed the Seals to shoot the pirates if they felt that the hostage's life was "in danger". So, they had to wait until the gun was pointed at the man's head. It would have been safer if they were allowed to shoot the pirates when they had guns pointing down or away from the hostage. Either way, I'm glad it worked out.

 

Our current administration takes credit for anything that goes right and blames everyone else, when something goes wrong.