Here is some honest rap (because its not from the government)
Warning if you are depressed about the current recession and possible upcoming depression, then don't watch these videos. I present these links as something to think about, and a way to plan for the new America. The America of the next 50 years will be poorer, and much harder place to live in.
There may be some kind of cheap energy source that will be discovered, and all this will moot, nut technologically there is no magic bullet that will solve this crisis.
The coming presidential election is very important. Who will "stay the course" of bad monetary policy (De-regulation, Fossil fuel energy, Iraq).
Or: Who will attempt to control the rampant spending (Iraq)? Who will attempt to reduce our dependence on foreign petroleum? Who will attempt to stop the unregulated raping of the US taxpayer (regulation)?
The simple truth of this election is it will decide your future, and the future of your children. Which candidate is most willing to make the changes necessary to steer the US to a better future? The average US citizen knows that there is no money left for a bailout. The Fed is broken, the US government is broken, and creating more debt, (the stimulus package, and printing more money) is not the answer. Retraction is the answer, and if we are to spend this country into debt, we should at the very minimum be spending that money HERE!
We should not be building bridges, buildings, power generation, etc in Iraq, we should be building these things here. IMHO I want my tax dollars employing Americans, working in America, building infrastructure in America.
I know I will get all kind of flag waving blow back from those who want the opposite to be true, but I think more and more Americans are beginning to see that sending our people, industry, technology, and tax dollars outside our borders is just to the benefit of a few, and a great loss to the average American.
I think it's to late the horse has already bolted I remember a time when the US economy sneezed the rest of the world caught a cold. China and India a ramping ahead and this is NOT a racist comment but the western world is going to find it hard to adapt. Maybe it is racist but thats what I am here for.
It's an interesting moment in time, but is it as bigger moment as we all believe.
My point is that other generations before now have probably felt the same, the feeling of armageddon, are we any different or is this truely the beginning of the end, the moment that the human race peaked, or is it just another bleep?
On a more sensitive subject, don't you think America and England have some responsibility in re-building Iraq?
I spoke to a women in scotland who had just moved from zimbawa, she said it's best that the whites move out of Africa and let the natives get on with it, i thought she may have a point then i realised it's a bit like beating up a innocent person and leaving them to die.
whatever happens from now on it's better to be a westerner than living in africa/middle east i think, there again there maybe internal uprise with mass unemployment, who knows?
one thing is certain we have all ate and drunk to much and are sitting nursing a big hang over!
skid- America bears the responsibility for the rebuild, but did Iraq have as much and the same quality of what we are building? I don't think we destroyed two and 1/2 trillion in infrastructure.
There has to be a point where a nation must differentiate between what they wish could be done, and the reality of what can be done. If the US bankrupts itself in the rebuilding of these (Oil Rich) nations, then what will be the final result? Perhaps the world will be better off under the new China superpower and the rising Russian power.
As to the issue of consumption, I agree, but only to a point. In the US one cannot live on $5/day, so the relative consumption is greater on a world standard, but on a US local standard, $5 won't even buy a decent meal a McDonald's.
There is no money left in the system, an because this is true the Fed is printing money as fast as it can to give the illusion of value. But this is the primary cause of inflation, and will simply lower the dollar further, and continue the spiral to recession.
Basically the bill has come due and the rich don't want to pay it, and the poor have no money or assets, and the middle class has more debt than assets. The banks are not only empty, but are full of bills that cannot be repaid. This will bring on the bargain basement sale of US assets to foreign creditors.
True national defense is a vibrant economy, and a treasury with real assets.
Good point as always, ok how longs a piece of string, where do you stop with the re-building, but i do question the real initial reason for the Iraq re-build (but this is old news, ie oil), there has to be something in it for the government or is it a PR stunt? A very expensive one.
As for the financial mess, down to poor borrowing by the banks? yeh you're probably right, the people who feel the pinch will be the lower and middle classes as always, thats' all part of the beauty of being stinking rich, you always win i imagine.
we've had a great ride, but like anything in life there's a cycle, the question is how bad will it get and how long will it last, are we on the verge of a depression like the 30's ?
hey Pod your proud to be american, nothing wrong in that, being nationalistic is nowadays frowned upon as being rascist, it's a tough call, noone dares be nationalistic, but i suppose there comes a time where you have to look after your own interests.
OK China and India and a rallying russian (oil fuelled) economy is taking control, thanks to Westernization by you know who!
skid - "has to be something in it for the government" Yes the government grows to meet the demand of their corporate handlers. Government workers regularly move to their corporate sponsor after the proper laws, or provisions have been met in a quid pro quo basis. All one has to do is follow the money.
Of course it is not all bleak. The goal now is to reduce the amplitude of this recession, by increasing the money supply to banks internally. However these banks are still unregulated, and any thought given to them doing the proper thing in the near future is sheer speculation. History has repeatedly shown that when the fox guards the hen house, you end up with no hens and fat foxes.
I almost puked this morning when I saw that the Euro was worth 1.58 US$. This is starting to badly affect our export to the US, our US customers can barely afford our products any more and I can't keep the US$ pricing.
IRISH JOKE A DAY LATE
an englihman, scotsman, welshman and an irishman are in the identity line up for rape.
The victim walks in, Paddy jumps forward and shouts,,,,,,,,,,,,,,,,,"That's her,,,,,,,,,,,,,
Good grief. World economics and honest profferals of limited sex, all in one thread.
Frankly, the economics part is a lot more believable than the part that suggests this white R&Ber is ever going to get that gorgeous lady in the sack with him.
There WILL be a bottoming out of the US recession, short of "depression"...the rebound will, however, be slow, and modest, consumer confidence having been severely wounded, resulting in lethargic real estate recovery, a major driver of local economics...there will also be a compelling movement to drill off the Florida Gulf coast, and in Alaska, yielding a significant improvement in domestic supplies of oil (the environmentalists will lose this "round" to the massive public response to $4/gallon gasoline).
The USA will diminish in world significance as it exports jobs, productivity, and even its last bastion, the service industry...but it will remain the strongest entity on the world scene while China and India struggle to attain stability despite their backbrakingly needy populations. Russia will continue to contend for world dominance....it's in their leadership's blood, I think...but they will continue to fail to achieve that status due to their unremitting political intrigue and economic inefficiencies. Their oil will keep them in scary contention, however.
And...the US, Canada, Mexico and .England and the European Union....will be forced to join together in a world-spanning assembly to defend their interests against the economic incursions from China and India....Japan will also support this western hemisphere union, as will a number of South American countries, but not many...Venezuela has it's own agenda, and it is oil-rich...many are in constant political and economic chaos, making them fine prey for the "dark side" interests, their leaderships being typically "for sale".
Now, all that having been neatly said, I must say I have absolutely no substantive support for my b.s. above.
But it's been fun to wile away some time on a dreary afternoon.
PS....don't take to heart anything I have said above, 'cept maybe the comment on the beauty and the "least".
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