Quote:
Originally Posted by Villages Kahuna
Lots of economists would debate whether the recession we experienced was more like the Great Depression than any recession since 1950. It absolutely was different in the sense that home values declined so precipitously and dramatically. Most economists, all of them that I've read recently, have opined that recovery from the deep economic recession the U.S. experienced during 2007-2009 can't happen until home values stabilize and begin to increase again.
I won't argue that all of the actions taken on Obama's administration so far are good and effective in creating economic recovery and jobs. Both Dodd-Frank and the healthcare reform bill are Rube Goldberg abominations, in my opinion. But let's not forget that both those bills were the product of hot negotiations between two political parties in a Congress widely divided by both ideology and political motives. I will blame his administration for the installation of regulations which I don't believe are helpful, like blocking the oil pipeline from Canada for no good reason. And I definitely think that the president's fiscal policies will have long-term negative effects. But to say that President Obama slowed an economic recovery that might have proceeded at a faster pace is conclusion that can't be assigned solely to the POTUS and fully supported by the facts.
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Hi VK: you recollect that old saw "Believe nothing you hear and half of what you read". Well given rapid assimilation of information ( there is more information on line every day then had been accumulated from the beginning of time until 2003. and given the fact that far too many people in authority or the public trust ignore ethics...people are best to trust but verify all communication.
I preface this because ask any question and you will get a variety of answers.
My manner of coping is to keep faith in those things that have proven reliable.
I know free is not free. I know profit is a good motivator. I do not believe that we should look to the government to slove our problems .
When the horseless carriage moved to the assembly line horse drawn wagons
disappeared. Many many companies went under and resurrected under new names etc better and more relevant to society.
The auto bailouts IMHO were unnecessary because nature should have taken its course and these companies would have ressurected better. yes they have profits but only because taxpayers paid off their liabilities , they continue to deduct operating expesnes and pay no taxes on their profits and will not be taxed for years to come. Hell who could make a profits.
When I blog here I share my opinion. I desire to learn others points of view. i really have no interest in upmanship
succintly stated the present presidential battle is about government control vis a vis a free enterprise system. i am a pro growh guy and believe that private sector is far more financially savvy...all the government needs to do is get out of the way......and this addresses one of your comments concerning the housing market. TheFHA chair made it clear Fannie and Freddie conti ue to offersubprime mortgages and for his efforts the Obama Admin stifle his efforts. these subprime mortgages should be divided up in the private market and they will soon disappear. On a smaller scale the requirement for more labeling info by the government on raw meat is another example of hiw the governement destroys an economy.
Personal Best Regards: