Quote:
Originally Posted by raymr
I think the economy will bust loose by the end of the year. Sure there is a lot of ambiguity about the administration, but companies are building up their war chests and a kindling point will be reached where no one will want to be left out.
|
Without demand, who's going to fuel this "busting loose," and when?
At this point, looking at all the sorrowful jobs data, both layoffs and hiring - what could possibly be the demand to "bust anything loose?"
There's a strong possibility the U.S. is going to stay in a recession for years. High unemployment approaching 20% in total, is becoming the norm. Bad economic news, massive continued job losses & no new jobs creation is already the norm. Trillions of dollars in welfare/unemployment and government spending has created jacksquat, if anything hurt the economy with even more debt. No multiplying effect in the economy either.
BO will soon hatch and announce another spending stimulus scheme to try to change November - but it's waay too late to change the blood letting his party will deservedly suffer in the election.
Democrat Party leader Pelosi has stated that; "Unemployment checks are the way to create jobs." I think POS would include her in his list of morons/moronic statement makers. I know I do.
There is nothing on the horizon to pull us out of the mess caused by the housing bubble promulgated by the government, over 20 years or more.
One hope would be for the government to take over as many private industries as they can over the coming years. The government doesn't need to cut a profit, unlike the private sector to stay in business.
They could start with the entire mortgage industry, United States of America Mortgage Service, and turn all mortgage loans into 50 year loans, with very low interest rates. This would buy everyone some time, and could spur the building industry once again.
If that works, add; United States Real Estate Service. No more dealing with fancy pants real estate agents with phony smiles, and leased cars - it's now just another government run service, this time in real estate services.
In conjunction with the new government-only home mortagage business, take over all private banking in the U.S. They seem to do a good job at the Fed. Just take all banking over and give it a whirl. The private industry bankers certainly don't know what they're doing. The United States Bank of America.
The government seems to want to be in the oil business too, having jacked BP for $20,000,000,000.00, so let them take that business as well. The United States Petroleum Service of America. Those are three industries the government is just itching to take over, so I say have at it to 'em.