Both candiates say they have the magic key to fixing the economy. I don't believe either one ! Personally I think we are in a recession.
What are your thoughts ? Do you think either candidate can fix this within the 1st 2 years of their term?
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No, I dont think that they can come in and change what is going on with the economy in a couple of years.
First I think that he has to start off with the American people looking at the way that they spend, its mostly in this status because of how American spend there money, taking out credit that they really dont/cant afford to handle or have....
And we have to get our minds off always needing something new, I think if we go back to using thing/stuff until it breaks and not just because we want it I think the economy will put it self back on track..
no, neither one of them can fix the problems with the economy in 2-4 years. its going to take atleast 8-10 years for the system to recover. technically we are not in a recession yet. a recession is defined as 3 consecutive quarters of negative economic growth, i think we've only had two so far. it will be "officially" a recession very soon.
i think that both candidates were caught off guard by this problem even though they both claim to have predicted it years ago. the truth is, no one could have predicted when the shit would hit the fan even though everyone knew it would eventually. its going to take a lot of changes to get the country out of this.
mccain wants to cut taxes which would help by putting more money out on the market but the fact that a sizable amout of that money would flow overseas due to our crappy trade policies might be an issue.
obama wants to raise taxes on corporations which would certainly hurt the economy. it would spur layoffs and raise prices on consumer goods. it would also push those at the top of the tax scale to look for tax shelters for their money as well as prevent investment.
its going to take some time, i don't think its time to stop putting money in the 401k because shares are shares, we're just buying them on sale at the moment. eventually it will recover people just need to calm down and not panic and maybe quit using the credit cards so much.
I don't think either candidate can fix the economy in either of their terms (presuming they serve 2), they can lay the groundword for their VP to be heralded as the savior though. I am not sure cutting taxes nor raising taxes is the cure. I see the value in both approaches though. Raising taxes will put money directly into the govt for reducing the debt, cutting taxes increases possible spending cash for the consumers to purchase more goods which in turn will put money into the govt, but that money is going to given back in the form of tax refunds. The solution to the current problem is centered on the markets right now, it is getting worse because people are panicing and selling every non-liquid asset they have. That selling is increasing the supple of which is driving down the demand/price thus making the situation worse.
It is going to take some serious risk taking on a huge scale. someone/something has to start a huge buy on the market, to drive prices back up by depleting the supply. If you have been watching only commoditites (oil, gold, silver etc) are having any type of gains in the markets currently. Items in limites supply basically. We have not seen the darkest hour, shit it maybe be 7:30 pm at the rate its going, we still have 4.5 hrs until midnight.
Well said Josh, I agree they were both caught off guard and now they are trying to capitalize on the opportunity to say "I knew it was going to happen, but nobody listened to me" The truth is both of them have associated with some of the failed companies, my theory then they need to take equal responsibility. And agree to actively work to pull us out of this crap
GOD is the only one that can change this economy in the next 2yrs. Unfortunately our economy is built on people spending money. Now that most have little or any extras. Things are going crazy. Hopefully the next president will use this as a tool on how not to run the country and stop spending not just for government but also for consumers..
yes we are in a recession.....we are heading into the second great depression
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