What if the current economic condition in the US is not just temporary?

Discussion in 'The Okie Corral' started by NRA_guy, Mar 2, 2010.

  1. NRA_guy

    NRA_guy Unreconstructed

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    I've been thinking:

    What if the current economic condition in the US is not just a temporary downturn?

    Everybody seems to be sitting around waiting on the US economy to recover. And with that, Federal revenue is supposed to increase, unemployment is supposed to go back down, etc.

    But when you stop and think about it: the US makes very few exportable products now, our education system is abysmal, the Feds are spending our grandchildren's money every day and printing money to keep voters happy.

    Environmentalists won't allow us drill for oil in the US or build new nuclear power plants any time soon.

    It is conceivable that the US will NOT recover, but will just continue its downward economic spiral.

    Personally, I don't see anything on the horizon that could make it better.

    The only thing that could make it better would be slashing the Federal, state, and municipal taxes, budgets, and workforces, eliminate Federal watchdog agencies like OSHA and EPA---allowing businesses to invest and make a profit. And I don't think that will happen.
     
  2. Puppy

    Puppy

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    I am guessing that your not one of the folks who are on the receiving end of Obama's newest executive order?
     

  3. bricker

    bricker

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    Wow! What a ray of sunshine!:crying:
     
  4. Armed to the teeth!

    Armed to the teeth!

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    I think you have a good point of view. I also do not see it getting better any time soon. Half of my friends and family have been laid off in the last year. The other half is worried about being laid off as well. I personaly do not like my job so I have been looking and applying like crazy for the last 6 months with very few call backs and very little luck finding any thing better. I guess we can just pray and hope that it does not get any worse.
     
  5. HKUSP45Css

    HKUSP45Css

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    First, the US doesn't require expotable tangible goods to make money.

    Second, economies are organic, they don't stay still very long, either way they go.

    Third, there are far too many greedy people in the US to allow the economy to remain in a down slump, on both sides of the government.

    Finally, we aren't in a "economical downward spiral" regardless of what you hear on TV. There are a great many markets in the US doing very well and some doing very poorly. Sadly, the ones doing poorly employ many of the "middle class." From my observation the poor and wealthy are doing very well.

    So, just sit back, hang on to something, take a Valium and ride it out. The worst part of this whole affair was the government trying to buy its way out of the recession, that has only served to make it last longer. Particularly since now they are in no position to be able to realistically cut taxes to the extent required for real, short term growth.

    Fear and greed are the only two financial motivators. Right now we're just seeing more fear than greed. This too shall pass.

    If you want to really get the economy going again shut down all major news outlets for 12 months. Once people stop being force fed the "chicken little sky is falling" "gloom and doom" the crisis of consumer confidence will fade. People will start doing greedy things again and driving cash into the system.
     
  6. G29Reload

    G29Reload Tread Lightly

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    Mark my words: The current situation WILL not change till at least 2 quarters after the 11/10 elections, or possibly that same time frame after BHO leaves office.

    Beleive it or not, I'm not being partisan here...its the basic facts on the ground and a matter of practicality:

    We have a socialist, re-distribution of income, anti-business, anti-wealth President.

    Either his version of socialism has scared business and homebuyers into circling their wagon and keeping their capital in abeyance, or any intermittent success that may happen by chance will find the profits taxed away. There is no point in trying to succeed right now...only guaranteed failure. Little or no success, and any that happens, mailed to the gov't.

    Worse, the spendthrift nature of our current state is saddling us to the point of possibly preventing any future recovery.

    There will never be any brisk periods of prosperity as in the past, not in any forseeable future. Will not happen. Buy gold, canned goods and ammo when you can fiind it. Stay employed if you can, and debt free.
     
  7. security79

    security79 Gene Frenkle

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    IMO the U.S. is probably looking at an economic reset just like Argentina went through.
     
  8. Dennis in MA

    Dennis in MA Get off my lawn

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    Well, I'll argue the opposite - that we've been waiting a decade for things to get "better." (After a decade of excess.)

    And I'll further equate this to the early 80's. Similar situation - high unemployment, heavy government spending, low overall morale, worldwide MASSIVE recession.

    But let me ask you this, provided you are old enough to remember - what was the focus of the next 8 years? Economically, I mean.

    I'll tell you. All we heard was about German auto's and Japanese electronics and how the two of them were gonna spank our butts. Heck, go back and watch Blade Runner. What was the street language??? Mixture of German and Japanese. They were supposed to eat our lunch.

    You can't pinpoint ONE major technological or economic advantage we had. It looked just as hopeless. Yet 8 years later, the US was WICKIT on top and Germany and Japan were DOA.

    Does that mean it's gonna do that again? No. But what I'm saying is sometimes it looks bleak when it really isn't.
     
  9. JBnTX

    JBnTX 2 Timothy 2:15

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    Past recessions in the US have lasted, on average, about 18 months.
    We're right at that point now.

    But then past recessions didn't have a president who was actively
    trying to destroy the economy.
     
  10. security79

    security79 Gene Frenkle

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    I was barely out of the womb but didn't Carter do similar things as Obama and it took Reagan to clean it up?
     
  11. CU4X4N

    CU4X4N 5th of November

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    What good is being debt-free if the economy completely tanks?

    At that point, who would care if you were debt-free or not?
     
    Last edited: Mar 2, 2010
  12. chewybaca67

    chewybaca67

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    Guess we'll all find out either which way.
     
  13. crimsonaudio

    crimsonaudio 15 or 30?

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    Not only that, but we're still the number one manufacturer on the planet, nearly doubling China (second place).
     
  14. Beware Owner

    Beware Owner NOT a victim.

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    I think we should do away with the DMV and the IRS.
     
  15. HKUSP45Css

    HKUSP45Css

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    And the DEA, FDA, BATFE, FBI, CIA, NASA, FED, DHS ... The list really is endless.
     
  16. aircarver

    aircarver Descent Terminated Silver Member

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    It will turn around as soon as the commies are out of power.
     
  17. saluki9

    saluki9

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    Maybe you shouldn't


    Actually, we make quite a few, more than 3 times what we did in 1988 to be exact. Take out agriculture and it's almost 4 times as much.

    http://www.bls.gov/emp/ep_table_407.htm

    Guess you missed that the fact that Southern Company just got a federal loan guarantee to build two new reactors in GA? Not to mention, where did you get the idea that nobody is starting new drilling project?


    What is stopping businesses from investing? One of the few good things to come out of the stimulus package was the continuation of some bonus depreciation allowances which make it easier for businesses to invest in new equipment.
     
  18. Z71bill

    Z71bill

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    Right -

    Drives me crazy when I hear - we don't make anything here :crying:
     
  19. Sam Spade

    Sam Spade Staff Member Lifetime Member

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    All economic conditions are temporary.
     
  20. Bruce H

    Bruce H

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    Loan guarantees don't amount to a damn if environmental hurdels are still in place. Lets see how long it takes to get all the necessary permits, and resolve the environmental lawsuits.