Hate To Say I Was Right But........

[RIJIMMY]

Hows this make you feel....

The head of a new Congressional panel set up to monitor the gigantic federal bailout says the government still does not seem to have a coherent strategy for easing the financial crisis, despite the billions it has already spent in that effort.

Elizabeth Warren, the chairwoman of the oversight panel, said in an interview Monday that the government instead seemed to be lurching from one tactic to the next without clarifying how each step fits into an overall plan.

we are wasting bbbbbbbbbillions of YOUR money.

[striperman36]

Originally Posted by RIJIMMY

Hows this make you feel....

The head of a new Congressional panel set up to monitor the gigantic federal bailout says the government still does not seem to have a coherent strategy for easing the financial crisis, despite the billions it has already spent in that effort.

Elizabeth Warren, the chairwoman of the oversight panel, said in an interview Monday that the government instead seemed to be lurching from one tactic to the next without clarifying how each step fits into an overall plan.

we are wasting bbbbbbbbbillions of YOUR money.

You want fries with that?

She's right, there is no coherent plan of action, nor will their be one from those lameducks.

Oh, and Bush is 'so sorry' this is happening.

[BigFish]

Only 10 years we have built an economy on credit?? Try for the past 40-50 years.....just the last 20 they have been handing it out to anyone who will wait in line! Now if you wait in line they are handing out cold, hard cash!!!

[RIJIMMY]

thats easy! since gas $ is lower and there will be less discretrionary income for most people to spend, I predict a surplus in the eel market from 2009 to 2010.

[Back Beach]

Originally Posted by RIJIMMY

thats easy! since gas $ is lower and there will be less discretrionary income for most people to spend, I predict a surplus in the eel market from 2009 to 2010.

Hmmmmmmmm, time to build that swimming pool I've always wanted for bulk eel storage. By the time we come out of the great depression part II, I'll have the market cornered.

Ok, I'm getting this thread off track here.....back to the gloom and doom, please...

[EarnedStripes44]

...also, we have the greatest educational/research institutions in the world

Sure india and China may have more computer scientists, but they where do they come for the PhDs, the great US of A.

Education needs to be affordable for the domestic youth. The kids are dumber than the adults these days, it needs to be the other way around.

[striperman36]

Originally Posted by EarnedStripes44

...also, we have the greatest educational/research institutions in the world

Sure india and China may have more computer scientists, but they where do they come for the PhDs, the great US of A.

Education needs to be affordable for the domestic youth. The kids are dumber than the adults these days, it needs to be the other way around.

Who runs the technology in your house?

[Joe]

Maybe a sea change is what we need.
Wall St is great brain drain on the country - all these very smart people moving money around that only enrich a few lives. The best and the brightest could do so much more.
Maybe after they get laid off they'll take down the Gordon Gecko poster, put away Sun Tzu's Art Of War, and start companies that put people to work.

[RIJIMMY]

take a look at what this guy thinks is going to happen. Won the nobel prize for economics....

STOCKHOLM (Reuters) - Paul Krugman, winner of this year's Nobel economics prize, said on Monday that the world could face a Japan-style, decade-long slump.


Paul Krugman of the U.S., winner of the Nobel Prize in Economics for 2008, gives his Nobel lecture at Stockholm University in Stockholm December 8, 2008. REUTERS/Bob Strong
Speaking in Stockholm where he will collect his 10 million Swedish crowns ($1.3 million) prize, U.S. economist Krugman again called on policy makers to spend liberally to cushion a withering global downturn.

"A scenario I fear is that we'll see, for the whole world, an equivalent of Japan's lost decade, the 1990s -- that we'll see a world of zero interest rates, deflation, no sign of recovery, and it will just go on for a very extended period," he told a news conference.

"And that's unfortunately very easy to see happen."

Krugman added that in his worst case scenario there would also be a series of extremely serious crises "in particular countries that are in big trouble."

He said there were already premonitions of economic and political crises in line with those in Argentina and Indonesia in the 1990s-early 2000s, particularly "in the European periphery."

Iceland and Latvia are among European countries that have been hit hard by the global financial crisis.

"We can easily be talking about a world economy that is depressed until 2011 and maybe beyond," Krugman said.

"If there's a safe place I can't see it."

Krugman is in the Swedish capital for the "Nobel Week," when laureates attend news conferences and events culminating with the prize ceremony and a gala dinner on Wednesday.

(Reporting by Anna Ringstrom; Editing by Victoria Main)

[Joe]

Ahh..you know, Krugman writes op-ed pieces for the NYT - so whatever he says has the hammer and sickle stamp of the mouthpiece of the DNC. Can't go by that.

[Crafty Angler]

I dunno, Joe - I think he's right, the way things are going, we could all ending up living like a bunch of Latvians...

Wait a minute, where in the hell is Latvia......and how does their GNP compare to ours? Don't know if I'd use Iceland as a prime example either.

Well, with that 1.3 mil Nobel prize, that should stave off his fears of recession.

Yup, just what the world needs - another pundit

[Joe]

The people of Latvia suffer the most clinical depression of any country.

[spence]

The positive spin is that this means we're going through the worst of it right now...how long it lingers is the issue.

-spence

[RIJIMMY]

Originally Posted by spence

The positive spin is that this means we're going through the worst of it right now...how long it lingers is the issue.

-spence

what is your guess on what will bring us out of this? Good Holiday sales? A sudden drop in unemployment? What makes you think this is the worst of it? Wait until severances, COBRA, etc run out for all those recently unemployed...... we have a lot farther to go before we hit bottom.

[spence]

Originally Posted by RIJIMMY

what is your guess on what will bring us out of this? Good Holiday sales? A sudden drop in unemployment? What makes you think this is the worst of it? Wait until severances, COBRA, etc run out for all those recently unemployed...... we have a lot farther to go before we hit bottom.

God you're negative. Recessions (hell, even depressions) don't last forever. This looks to be a big global recession that will likely last for a good part of 2009. Everything cycles, this is no different.

-spence

[RIJIMMY]

Originally Posted by spence

God you're negative. Recessions (hell, even depressions) don't last forever. This looks to be a big global recession that will likely last for a good part of 2009. Everything cycles, this is no different.

-spence

Hmm, Greece, Rome, Egypt, England.....all empires eventually fall. Is this our time?

[Raven]

no friggan way...

it's a transitional period where we finally tell the big 3
where to get off.... for one...

it's a time of "green" change

the greening of America you could say....

we haven't even scratched the surface technologically

[The Dad Fisherman]

Originally Posted by RIJIMMY

Hmm, Greece, Rome, Egypt, England.....all empires eventually fall. Is this our time?

Funny..thought the same thing awhile back....