If the economy slows down any more…we’ll be going backwards. Too many people need a job, and too many people have only part time work when they need a full time job.
Applications for jobless benefits are at their lowest in 14 years. Economy is growing at 3.5%. Normally, present conditions would lead to an economic surge. But Americans have lost their confidence in the future (I’m not saying there aren’t reasons for that) and don’t want to invest in it, or take chances. That’s why the people who have all the money are hanging onto it, instead of investing it in American enterprises. Why expand your business when there aren’t enough customers as it is? Ah, but there won’t be enough customers unless business expands! One person’s spending is another person’s income. Money is like blood: it has to circulate to do any good. Saving is good for the future of the individual, but spending is good for the present and future of the economy. And it doesn’t matter much who is doing the spending, especially when it comes to spending on things that have long-term benefits: factories and houses, roads and bridges, say, instead of beer and cigarettes, candy and sodapop. I.e. spending as investment rather than as consumption. Private spending is better than government spending in a general sort of way (the conservatives are right, there) but government spending is way better than no spending at all (a simple fact that conservatives go to great lengths to deny). And sometimes spending money you don’t have is better than saving it up until you can “afford it.” Sounds crazy? Well how many of us would own houses or go to college if we waited until we had saved up enough to pay for it without borrowing anything?
The problem is also wealth inequity — with the lower 50% down to owning just 1% of America’s wealth, who is going to buy stuff? Raise taxes on capital gains income so that Mitt Romney pays the same rate as a self-employed landscape worker, cut payroll taxes and spread them higher, and we’ll see less money sitting idle in the Cayman islands.
And, many corporations, plus the huge financial houses of Wall Street are powerful enough to ignore SEC regulations. Congress has done NOTHING to rein in the packaging, trading and control of derivatives, which are being hawked even more than before the “recession”. Nor has Congress acted on “Flash trading”, which merely sucks a percentage of money out of every buying transaction. Wall Street is bigger and more powerful than ever, and doesn’t have to pay much attention to Janet.
the problem wmconnelly was the the stims 1,2 ,etc and qe infinity were invested in bho banker buddies bonuses and driving stock market higher// it takes more and bigger shots to get high
“and the stock market is booming”.That tends to happen when the fed is allowed to print money instead of letting the markets correct itself. But just wait……
Markets up at near record levels, so the 1% are playing with profits. Gas prices are down, so of course Obama is destroying the country by leasing, and granting perks to oil companies, just like he was personally destroying the country when those companies RAISED those prices!
Unemployment down, employment IS actually UP, housing prices, starts, and sales were up “in season” this year, so another indicator of course that Obama is destoying the economy!
Let’s start another bigger war so another few trillion dollars can be thrown down the drain, and the MIC can walk off with a bigger share of the taxpayers money!
@dtroutma$22 TRILLION dollars have been spent in 50 years by democrat entitlement programs to fight poverty. So why is there still poverty? Where did the money go?
noreenklose over 9 years ago
If the economy slows down any more…we’ll be going backwards. Too many people need a job, and too many people have only part time work when they need a full time job.
Doughfoot over 9 years ago
Applications for jobless benefits are at their lowest in 14 years. Economy is growing at 3.5%. Normally, present conditions would lead to an economic surge. But Americans have lost their confidence in the future (I’m not saying there aren’t reasons for that) and don’t want to invest in it, or take chances. That’s why the people who have all the money are hanging onto it, instead of investing it in American enterprises. Why expand your business when there aren’t enough customers as it is? Ah, but there won’t be enough customers unless business expands! One person’s spending is another person’s income. Money is like blood: it has to circulate to do any good. Saving is good for the future of the individual, but spending is good for the present and future of the economy. And it doesn’t matter much who is doing the spending, especially when it comes to spending on things that have long-term benefits: factories and houses, roads and bridges, say, instead of beer and cigarettes, candy and sodapop. I.e. spending as investment rather than as consumption. Private spending is better than government spending in a general sort of way (the conservatives are right, there) but government spending is way better than no spending at all (a simple fact that conservatives go to great lengths to deny). And sometimes spending money you don’t have is better than saving it up until you can “afford it.” Sounds crazy? Well how many of us would own houses or go to college if we waited until we had saved up enough to pay for it without borrowing anything?
ARodney over 9 years ago
The problem is also wealth inequity — with the lower 50% down to owning just 1% of America’s wealth, who is going to buy stuff? Raise taxes on capital gains income so that Mitt Romney pays the same rate as a self-employed landscape worker, cut payroll taxes and spread them higher, and we’ll see less money sitting idle in the Cayman islands.
moosemin over 9 years ago
Re your photo of Reagan, Bush, et al: I really believe such a scene actually occured!
moosemin over 9 years ago
And, many corporations, plus the huge financial houses of Wall Street are powerful enough to ignore SEC regulations. Congress has done NOTHING to rein in the packaging, trading and control of derivatives, which are being hawked even more than before the “recession”. Nor has Congress acted on “Flash trading”, which merely sucks a percentage of money out of every buying transaction. Wall Street is bigger and more powerful than ever, and doesn’t have to pay much attention to Janet.
oneoldhat over 9 years ago
the problem wmconnelly was the the stims 1,2 ,etc and qe infinity were invested in bho banker buddies bonuses and driving stock market higher// it takes more and bigger shots to get high
Don Winchester Premium Member over 9 years ago
“and the stock market is booming”.That tends to happen when the fed is allowed to print money instead of letting the markets correct itself. But just wait……
Dtroutma over 9 years ago
Markets up at near record levels, so the 1% are playing with profits. Gas prices are down, so of course Obama is destroying the country by leasing, and granting perks to oil companies, just like he was personally destroying the country when those companies RAISED those prices!
Unemployment down, employment IS actually UP, housing prices, starts, and sales were up “in season” this year, so another indicator of course that Obama is destoying the economy!
Let’s start another bigger war so another few trillion dollars can be thrown down the drain, and the MIC can walk off with a bigger share of the taxpayers money!
Don Winchester Premium Member over 9 years ago
@dtroutma$22 TRILLION dollars have been spent in 50 years by democrat entitlement programs to fight poverty. So why is there still poverty? Where did the money go?
moosemin over 9 years ago
@PianoGuy24It trickled up.