So what happens if the recession ended tomorrow?

[JS80]

Originally posted by: Dari
Do we go back to life as it was before? Borrowing from the Chinese/Japanese to buy Chinese/Japanese products? What a great deal for them. One of our great exports, finance, is now damaged goods. That means our other great export, education, will hurt as well. This can't be good. I'm not saying we should be more protectionist going forward, but we need to have a more comprehensive approach to trade. Seeing how the Chinese are so hostile towards America, I don't think it's a good idea to keep giving them our hard earned money. Furthermore, the current system has benefited businesses more than consumers so I think we need to think long and hard about an alternative method. I think the European (continental, not Anglo-Saxon) approach to economics is smarter overall, even though it means more expensive products. Anyone else thinks this?

How the fuck are you a PhD in economics? What the fuck do they just give those away like toilet paper these days?

 

[Capt Caveman]

Originally posted by: JS80

Originally posted by: Dari
Do we go back to life as it was before? Borrowing from the Chinese/Japanese to buy Chinese/Japanese products? What a great deal for them. One of our great exports, finance, is now damaged goods. That means our other great export, education, will hurt as well. This can't be good. I'm not saying we should be more protectionist going forward, but we need to have a more comprehensive approach to trade. Seeing how the Chinese are so hostile towards America, I don't think it's a good idea to keep giving them our hard earned money. Furthermore, the current system has benefited businesses more than consumers so I think we need to think long and hard about an alternative method. I think the European (continental, not Anglo-Saxon) approach to economics is smarter overall, even though it means more expensive products. Anyone else thinks this?

How the fuck are you a PhD in economics? What the fuck do they just give those away like toilet paper these days?

My thoughts exactly.

 

[Fern]

So what happens if the recession ended tomorrow?

Monkeys fly out of our butts?

Hell freezes over?

Pigs fly?

Some of the stuff I read (CFO magazine etc) says no bottom unitl 2010. We can't turn start turning around until after w hit bottom.

But otherwise can't really answer your question. Obama spoke much about changing our trade pacts/policy while campaigning. Since your question seems in large part about international trade, I think we need to see what he's going to do in this area before we can really predict changes, or lack thereof.

What are you saying here:

I think the European (continental, not Anglo-Saxon) approach to economics is smarter overall, even though it means more expensive products. Anyone else thinks this?

What is the European approach to economics?

Fern

 

[miketheidiot]

Originally posted by: JS80

Originally posted by: Dari
Do we go back to life as it was before? Borrowing from the Chinese/Japanese to buy Chinese/Japanese products? What a great deal for them. One of our great exports, finance, is now damaged goods. That means our other great export, education, will hurt as well. This can't be good. I'm not saying we should be more protectionist going forward, but we need to have a more comprehensive approach to trade. Seeing how the Chinese are so hostile towards America, I don't think it's a good idea to keep giving them our hard earned money. Furthermore, the current system has benefited businesses more than consumers so I think we need to think long and hard about an alternative method. I think the European (continental, not Anglo-Saxon) approach to economics is smarter overall, even though it means more expensive products. Anyone else thinks this?

How the fuck are you a PhD in economics? What the fuck do they just give those away like toilet paper these days?

wait, what??!! seriously?

 

[Possessed Freak]

Originally posted by: hiromizu
At least Obama has a much more positive energy and meaning than killing people for no reason and that's what counts in the end.

No reason? Wars always have a reason, even if you disagree with them there are reasons behind every major conflict.

Of course Obama has a positive energy right now, he is pulling off a great magic trick suckering the nation into giving the government loads of money for what... delaying the failure of another company for a few months?

 

[Dari]

Originally posted by: Fern

What is the European approach to economics?

Fern

A public-private partnership. It's been called many different names but it is basically a system where government has more influence in business. This partnership allows businesses to have some protection from foreigners and help when needed. It also allows government intervention to prevent high unemployment. Such a system has a strong social net and is generally called a welfare state but it brings social harmony.

This is also called the east Asian model or the Japanese model. This is different from the Anglo-saxon model or the Chinese model where there is little social net.

 

[Fear No Evil]

Would we GO BACK to borrowing from the Chinese? What the hell do you think Obama is doing NOW? GO BACK? We never left.. in fact, its been increased 3 fold.

 

[Slew Foot]

Originally posted by: frostedflakes
Supposed to be a Gameboy (even though it has the wrong number of buttons). I need to find a better version.

edit: I don't so much have a problem with spending a lot to get us out of this recession, but the problem is that deficits are going to remain large for the next decade according to projections. Once the economy improves we need to start chipping away at the debt that we've racked up during the downturn.

Largest surplus in US history was 250bill during the height of the internet bubble. Current deficit is 11 trillion with upwards of 2 trillion being added this year. This sucker isnt getting paid off.

 

[Dari]

Originally posted by: Slew Foot

Originally posted by: frostedflakes
Supposed to be a Gameboy (even though it has the wrong number of buttons). I need to find a better version.

edit: I don't so much have a problem with spending a lot to get us out of this recession, but the problem is that deficits are going to remain large for the next decade according to projections. Once the economy improves we need to start chipping away at the debt that we've racked up during the downturn.

Largest surplus in US history was 250bill during the height of the internet bubble. Current deficit is 11 trillion with upwards of 2 trillion being added this year. This sucker isnt getting paid off.

And with all the noise China has been making lately, I don't see things getting better.

 

[frostedflakes]

Oh we could do away with the debt, but it would require some unpopular policies, such as cutting entitlements (Social Security, Medicare, etc.) or significant tax increases across the board. It's going to reach a breaking point eventually that will require some drastic measures.

Or maybe Obama plans to inflate our way out of this mess, lol. That would really screw over the Chinese and other holders of our debt, though.

 

[Dari]

Originally posted by: frostedflakes
Oh we could do away with the debt, but it would require some unpopular policies, such as cutting entitlements (Social Security, Medicare, etc.) or significant tax increases across the board. It's going to reach a breaking point eventually that will require some drastic measures.

Or maybe Obama plans to inflate our way out of this mess, lol. That would really screw over the Chinese and other holders of our debt, though.

Agreed. This isn't going to end well. As much as I despise the Chinese, I'm glad they're being tough with the US Government as far as their investments are concerned. But, should shit hit the fan, I'll just go live in France or Japan. I see no reason to pay for other people's mistakes.

 

[Jiggz]

Originally posted by: Dari

Originally posted by: ProfJohn
This is the first major recession most adults have experienced.

If we are lucky, and that is a big IF, then people will do a better job in preparing for the future. One good place to start would be with a higher personal savings rate.

But that has a draw back in that a higher savings rate would mean less spending and thus slower economic growth.

One thing that doesn't seem to have changed is our governments willingness to spend like crazy.

I agree. But it is hard to save when your own government doesn't. I mean I think people look at their government and see how it acts and say "fuck it, if they can do it so can I". Change has to start from the top and filter down. BTW, I noticed how Obama isn't telling Americans to save their hard-earned money. I think it's a national addiction.

Are you saying, saving is also done thru "trickle down" economics just like economic prosperity in the Reagan years? Dude, Dems totally despise this theory. In fact, Dems believe in the other way around called "from the bottom up" economics! Although, up to date they still cannot explain how it works, logically!