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Thread: Why is America's economy still in such bad shape?

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    Why is America's economy still in such bad shape?

    We are clearly not in a Recession as our economy keeps grouping. But unemployment is still way too high & GDP is still way too low.

    So what is causing this? Are the banks still not making business loans? Interest rates are at an all-time low.

    Taxes have not increased since Bush left office.

    So what's causing our economy to just slog along?

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    Re: Why is America's economy still in such bad shape?

    Doing the same thing over and over that isn't working now. What's the point of trying to make interest rates lower and lower, even though that will cause it's own problems when there is no desire for this money?

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    Re: Why is America's economy still in such bad shape?

    Quote Originally Posted by Thunder View Post
    We are clearly not in a Recession as our economy keeps grouping. But unemployment is still way too high & GDP is still way too low.

    So what is causing this? Are the banks still not making business loans? Interest rates are at an all-time low.

    Taxes have not increased since Bush left office.

    So what's causing our economy to just slog along?
    Not sure yet consider this ... notice how the Republicans' neglect to mention the 750,000 jobs that were lost on average in the first three months of 2009, during which the stimulus took effect and how that number declined to 35,000 by the beginning of 2010?

    Obama invested in our country while trying to straighten out the nose dive the economy was taking at the end of the Bush regime.

    He staved off a depression ... is the economy the ideal it was when it was handed to the Bush admin? ... No! ... yet get real. The right wings hacks best yet most deceptive skill is taking something positive and making a negative spin. They turned the word stimulus (which invested in our country) into a 4 letter word. Freakin' idiot hacks would prefer to sink the economy to win elections for special global corporate interests and a handful of the wealthiest people.

    The Obama admn is not without critique ... he could have used his political mojo and quit reaching so far across across the aisle to pacify special interests.

    He should have gone in straightforward on investing in our infrastructure and HCR with a public option ... made the decisions he knew were right and forget the ignorant base of the republicans ... they will not support him if he rescues him from their stupidity, saves their life and increases their disability check.

    And am I the only one who finds it strange that Republican leadership wants to deem the stimulus a failure, but fails to mention the evidence based facts performed by economists across the political spectrum that credit the stimulus for staving off a depression.
    Last edited by Dion; 09-30-11 at 01:15 PM.

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    Re: Why is America's economy still in such bad shape?

    Quote Originally Posted by Dion View Post
    Not sure yet consider this ... notice how the Republicans' neglect to mention the 750,000 jobs that were lost on average in the first three months of 2009, during which the stimulus took effect and how that number declined to 35,000 by the beginning of 2010?

    Obama invested in our country while trying to straighten out the nose dive the economy was taking at the end of the Bush regime.

    He staved off a depression ... is the economy the ideal it was when it was handed to the Bush admin? ... No! ... yet get real. The right wings hacks best yet most deceptive skill is taking something positive and making a negative spin. They turned the word stimulus (which invested in our country) into a 4 letter word. Freakin' idiot hacks would prefer to sink the economy to win elections for special global corporate interests and a handful of the wealthiest people.

    The Obama admn is not without critique ... he could have used his political mojo and quit reaching so far across across the aisle to pacify special interests.

    He should have gone in straightforward on investing in our infrastructure and HCR with a public option ... made the decisions he knew were right and forget the ignorant base of the republicans ... they will not support him if he rescues him from their stupidity, saves their life and increases their disability check.

    And am I the only one who finds it strange that Republican leadership wants to deem the stimulus a failure, but fails to mention the evidence based facts performed by economists across the political spectrum that credit the stimulus for staving off a depression.
    Yeah I think you are, remember the mid-terms and many other elections around the country voting out Dem's and replacing them with Pub's. All the stimulus did is add to our national debt. Obama by the end of his only term in office, will have raised the national debt by 6 trillion in just 4 yrs. This is higher and faster than any president before him.

    You talk about Obama should not have wavered to the right, I remember you Dem's controlled the White House and both houses of Congress and you could pass anything any time you wanted.

    Obama is a complete failure.
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - National Debt / Credit Downgrade / Obamacare Failure / Economic Failure / Foreign Policy Failure / Liar of the Year Award

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    Re: Why is America's economy still in such bad shape?

    The U.S. economy will continue to experience slower than desired economic growth so long as consumer credit remains below pre-recession levels.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Why is America's economy still in such bad shape?

    Quote Originally Posted by 1Perry View Post
    Doing the same thing over and over that isn't working now. What's the point of trying to make interest rates lower and lower, even though that will cause it's own problems when there is no desire for this money?
    Because the alternative (letting interest rates appreciate) is also not without consequences. Liquidity trap = our monetary policy is pretty much stuck between a rock and a hard place.

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    Re: Why is America's economy still in such bad shape?

    Quote Originally Posted by Thunder View Post
    We are clearly not in a Recession as our economy keeps grouping. But unemployment is still way too high & GDP is still way too low.

    So what is causing this? Are the banks still not making business loans? Interest rates are at an all-time low.

    Taxes have not increased since Bush left office.

    So what's causing our economy to just slog along?
    Low aggregate demand, combined with political uncertainty/instability, along with trying to simultaneously tackle the deficit and the weak economy at the same time.

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    Re: Why is America's economy still in such bad shape?

    Quote Originally Posted by Thunder View Post
    We are clearly not in a Recession as our economy keeps grouping. But unemployment is still way too high & GDP is still way too low.

    So what is causing this? Are the banks still not making business loans? Interest rates are at an all-time low.

    Taxes have not increased since Bush left office.

    So what's causing our economy to just slog along?
    The major problems:

    Bank balance sheets are still a mess.

    We are in a liquidity trap.

    Low demand due to high unemployment, declining middle class wages, and not enough stimulus.
    Last edited by tacomancer; 09-30-11 at 05:15 PM.
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    Re: Why is America's economy still in such bad shape?

    Quote Originally Posted by Thunder View Post
    We are clearly not in a Recession as our economy keeps grouping. But unemployment is still way too high & GDP is still way too low.

    So what is causing this? Are the banks still not making business loans? Interest rates are at an all-time low.

    Taxes have not increased since Bush left office.

    So what's causing our economy to just slog along?
    Simple. Consumers aren't spending. Their credit cards are maxed out due to banks putting a clamp on the amount of credit they're willing to extend...their homes are upside down so they can't refinance and continue using their homes like ATM machines.

    Unfortunately, our economy thrives only when consumers spend more than they earn. How sick is that?
    I'm reading a book on anti-gravity. I can't put it down.

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    Re: Why is America's economy still in such bad shape?

    Quote Originally Posted by MaggieD View Post
    Simple. Consumers aren't spending. Their credit cards are maxed out due to banks putting a clamp on the amount of credit they're willing to extend...their homes are upside down so they can't refinance and continue using their homes like ATM machines.

    Unfortunately, our economy thrives only when consumers spend more than they earn. How sick is that?
    The root issue is that due to stagnant/declining middle class wages, people don't have as much to spend. We certainly kept the illusion going for a few decades though.
    Dion and imagep like this.
    <+hemi770> the more the job pays, the less likely you'll be improving the world

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