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Next administration and the economy - 9/15/2008 12:22:00 PM
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AdrianaS
Posts: 1229
Joined: 3/21/2007
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Can somebody explain what will be the reality of facts the next administration will have to work with as the present state of affair in different sectors?
About the financial market bankrupcies (wow Bank of America bought Merryl Lynch!). And what about what it used to be strong US companies (as GMC  ..and others) loosing profits etc people loosing their jobs and how to create new jobs...the new rules to buy homes and afford to pay for it etc
How much money we do have? What to do with the deficit? Where the USA money coms from as it seems it never ends eventhough spend soooo much!
What is the best approach to deal with the most important issues and fix things? What the commonsense says which issue to take first and improve, transform and etc?
Please, if possible keep simple no jargons because I trully want to understand the economy big priority issues.
Thanks.
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RE: Next administration and the economy - 9/15/2008 12:48:01 PM
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LivingParadox
Posts: 803
Joined: 2/28/2007
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I think no matter who inherts the economy is going to come into a ugly situation at least intially. That's why neither is talking about it. Greed instead of financial planning has ruled the day since at least the mid-ninties. Yes, it was happening in the Clinton administration and has continued to have leverage in the current administration. So I don't buy it's a partisan issue but a greed issues. It's sytemic throughout the economy from the banks giving loans they shouldn't and selling to the next guy as each made a profit, to those flipping house for profit and speculating on real estate going up with forever to those who took adjustable rate loans to get into a house that was WAY over their budgets not every looking at the consideration of the rate going up in the future. Sadly, these speculator behavior affects us all and very few did their job of smart financial planning.
So my word for the economy? REFORM.
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RE: Next administration and the economy - 9/16/2008 8:43:11 AM
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AdrianaS
Posts: 1229
Joined: 3/21/2007
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Thanks!
It sure needs a reform asap, dont understand much but we are in a crises and serious.What today have different from 1929 and The Great Depression..is the stage of today is similar as high debt, high greed? President Roosevelt said something like : "There is nothing to fear" ..but the facts were different and everything went down the hill.
I trully hope many serious things start to pop up and come to light and the people get really ballistic and pressure both candidates to stick with real issues, the ones that really matters etc. The older generation of US citizens who went through the Great Depression end up learning a lot as not live beyond their meanings etc and most of all not trust in the system, I suppose.
What it will take for the politcians to take the people serious? The ones who ends up paying the bills anyways?
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RE: Next administration and the economy - 9/16/2008 9:22:48 AM
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cog41
Posts: 626
Joined: 7/16/2006
From: The Great State of Texas
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Let the market work. If they fail, they fail. It'll hurt but they'll rocover.
2nd, quit spending our money. The govt is broke and the sooner they face up to it the better.
_____________________________
Psalm 122:6 Pray for the peace of Jerusalem: "May they prosper who love you."
Hook'em Horns! Roll Tide!
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RE: Next administration and the economy - 9/16/2008 10:17:04 AM
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AdrianaS
Posts: 1229
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quote:
ORIGINAL: cog41
Let the market work. If they fail, they fail. It'll hurt but they'll rocover.
2nd, quit spending our money. The govt is broke and the sooner they face up to it the better.
Amem and Maranata Lord Jesus!
I am getting really angry about many things going on... c'mom people I know senior citizens who are suppose to be retired by now and cannot and others who are out of job also and we all know when there is no money comming in things starts to really stink, stress out families and etc. Meanwhile there are some people burning money around and living as nothing going on.
Here in Atlanta when people cant pay their rents and etc very soon they trow out their belongings in the street..is so sad when we see kids clothes, toys and stuff all at over the street..my heart anguish for those families that are struggling. Many were already living pay check away... Ga gov discovered the worse mortage fraud in US just yesterday..now they are looking for 11 persons, the criminals who did it to many families..hope find them very soon.
No excuses for those who take advantge of others, we do need strong measures, high fines and serious prison time.
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RE: Next administration and the economy - 9/16/2008 2:15:17 PM
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kernsfamily
Posts: 1359
Joined: 4/26/2006
From: Dallas (originally Detroit)
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quote:
ORIGINAL: cog41
Let the market work. If they fail, they fail. It'll hurt but they'll rocover.
yes...just let the markets work....
it's a cyclical thing....and was bound to happen.....
the economy goes up for a while...then slumps....the recovers, and so on.....
no big surprise
_____________________________
Proud dad of 3 great girls....Erin, Emilie and Elise
Blessed to have all of them in a "totally awesome" public elementary school!
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RE: Next administration and the economy - 9/16/2008 2:26:05 PM
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csl7037
Posts: 1630
Joined: 3/24/2008
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quote:
ORIGINAL: kernsfamily
quote:
ORIGINAL: cog41
Let the market work. If they fail, they fail. It'll hurt but they'll rocover.
yes...just let the markets work....
it's a cyclical thing....and was bound to happen.....
the economy goes up for a while...then slumps....the recovers, and so on.....
no big surprise
But to let the market work, someone's going to have to fix the mess we've made of it through ridiculous legislation and regulation over about the last two decades or more. The market can't work the way it is now. Everything is askew.
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RE: Next administration and the economy - 9/16/2008 2:43:28 PM
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blue1914
Posts: 410
Joined: 6/21/2005
Status: offline
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quote:
ORIGINAL: AdrianaS
Can somebody explain what will be the reality of facts the next administration will have to work with as the present state of affair in different sectors?
About the financial market bankrupcies (wow Bank of America bought Merryl Lynch!). And what about what it used to be strong US companies (as GMC ..and others) loosing profits etc people loosing their jobs and how to create new jobs...the new rules to buy homes and afford to pay for it etc
How much money we do have? What to do with the deficit? Where the USA money coms from as it seems it never ends eventhough spend soooo much!
What is the best approach to deal with the most important issues and fix things? What the commonsense says which issue to take first and improve, transform and etc?
Please, if possible keep simple no jargons because I trully want to understand the economy big priority issues.
Thanks.
You might be interested in IOUSA
http://www.iousathemovie.com/
Short answer to your question-life is cycle-give and take, etc. etc. The U.S. has tried to short-circuit the cycle by setting itself up as the "merchant" and the rest of the world as the "worker". It's an unsustainable model and we are just seeing the beginning of the eventual crumble of it all.
And on that, please don't take my word on it-just look at what the word of God says on the subject.
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RE: Next administration and the economy - 9/16/2008 2:52:06 PM
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blue1914
Posts: 410
Joined: 6/21/2005
Status: offline
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quote:
ORIGINAL: AdrianaS
Thanks!
It sure needs a reform asap, dont understand much but we are in a crises and serious.What today have different from 1929 and The Great Depression..is the stage of today is similar as high debt, high greed? President Roosevelt said something like : "There is nothing to fear" ..but the facts were different and everything went down the hill.
I trully hope many serious things start to pop up and come to light and the people get really ballistic and pressure both candidates to stick with real issues, the ones that really matters etc. The older generation of US citizens who went through the Great Depression end up learning a lot as not live beyond their meanings etc and most of all not trust in the system, I suppose.
What it will take for the politcians to take the people serious? The ones who ends up paying the bills anyways?
What is different today than in 1929 is that there was a crash landing then-it was hard, it hurt and it took a long time to recover. After that, government got together to try to devise a way that the same thing never happened again-and they've done well with that. By taking the U.S. off of all hard currency standards, the U.S. government has been able to set the value of money and rack up deficits to their heart's content. That couldn't happen in 1929-when the money was gone, it was gone (and no government bailouts-if your bank failed, it failed)-hence the Great Depression and eventually people getting their lives together again.
Now, we just see a bigger and bigger bubble being blown. Eventually, that bubble will pop-but it will be much uglier than 1929 because of how over bloated it became in the first place.
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RE: Next administration and the economy - 9/16/2008 3:26:54 PM
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csl7037
Posts: 1630
Joined: 3/24/2008
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quote:
ORIGINAL: cow451
Ya think McCain will try to privatize Social Security? We could let people invest their money in the stock market instead. Then we could all retire with so much more money!
My guess is that idea will find it's way to the bottom of the pile. 
We need a serious reality check on social security. Like someone else said on another thread - McCain will hopefully do what really needs to be done - but if he does he'll be a one-termer for sure.
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RE: Next administration and the economy - 9/16/2008 4:54:13 PM
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csl7037
Posts: 1630
Joined: 3/24/2008
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quote:
ORIGINAL: cow451
Every action has consequences and there will always be financial winners and losers. Government's job is to minimize the latter.
Do you really think so? I think the government's job is really just to keep the bad decisions of the "losers" from affecting the rest of us. I think helping the "losers" is the responsibility of the church and the private sector. I know, that's in a perfect world. But if the crazy intrusive policies of the government were not in the way, we could come a lot closer to that ideal and it would work a million times better.
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RE: Next administration and the economy - 9/16/2008 5:09:14 PM
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cow451
Posts: 3960
Joined: 5/6/2005
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quote:
ORIGINAL: csl7037
quote:
ORIGINAL: cow451
Every action has consequences and there will always be financial winners and losers. Government's job is to minimize the latter.
Do you really think so? I think the government's job is really just to keep the bad decisions of the "losers" from affecting the rest of us. I think helping the "losers" is the responsibility of the church and the private sector. I know, that's in a perfect world. But if the crazy intrusive policies of the government were not in the way, we could come a lot closer to that ideal and it would work a million times better.
That may be true on Survivor: Bikini Island, but not in real life. The origin of many social programs is to avert food riots and keep discontent from becoming armed rebellion.
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Wenn Sie so intelligent sind, warum Sie hier sind?
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RE: Next administration and the economy - 9/16/2008 10:21:08 PM
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AdrianaS
Posts: 1229
Joined: 3/21/2007
Status: offline
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quote:
ORIGINAL: blue1914
You might be interested in IOUSA
http://www.iousathemovie.com/
Short answer to your question-life is cycle-give and take, etc. etc. The U.S. has tried to short-circuit the cycle by setting itself up as the "merchant" and the rest of the world as the "worker". It's an unsustainable model and we are just seeing the beginning of the eventual crumble of it all.
And on that, please don't take my word on it-just look at what the word of God says on the subject.
Yes, you are right plus as US is importing way more than exporting for a while and it seems the outsider creditors are buying our debts, than is kind they "own" us? How did we end up in a situation that China, Japan and others "own" us? I think we must own our debt back asap! But I dont understand much also...[Hmm so strange having China as debtor can she blackmail us at some point because of politics or I am watching too much actions movies? 
Now domesticaly the mess about Medicare, S.S and" their parteners", I supose will take few administrations to reform... because "they" know the mess for a while already, instead do something keep expending more etc plus the natural disaster expenses, the wars and other unexpected stuff that cost lots of of money.
Just imagine what will happen when all the baby boomers retires..
There are lots of issues inside Economy need urgent care, some at ER, others at ICU and some others may be even at the morgue freezer already... in my understanding of course.
Thanks for the link, Blue.
Thank you very much everybody!
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RE: Next administration and the economy - 9/17/2008 9:41:30 AM
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kernsfamily
Posts: 1359
Joined: 4/26/2006
From: Dallas (originally Detroit)
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quote:
ORIGINAL: csl7037
quote:
ORIGINAL: cow451
Ya think McCain will try to privatize Social Security? We could let people invest their money in the stock market instead. Then we could all retire with so much more money!
My guess is that idea will find it's way to the bottom of the pile.
We need a serious reality check on social security. Like someone else said on another thread - McCain will hopefully do what really needs to be done - but if he does he'll be a one-termer for sure.
yep...because the Democrats cannot allow a Republican to fix Social Security....they have to wait until someone on "their side" is in office....so they can take all the credit.
any and all attempts to fix it by Pres. John McCain will be met with hostile resistance...just like they did when George W. came up with his plan...(which the Dems didn't like, because it would mean LESS people dependent on the government, in the long run)
_____________________________
Proud dad of 3 great girls....Erin, Emilie and Elise
Blessed to have all of them in a "totally awesome" public elementary school!
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RE: Next administration and the economy - 9/17/2008 9:47:37 AM
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P31W
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Joined: 6/13/2005
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I am not to concerned with Social Security. It's medicare that's the HUGE problem.
I am pro raising the age to qualify for medicare. For someone my age (mid to late 40's) I believe the age should be raised TODAY to 72 years old before you quality. For someone younger the age to qualify should be even higher.
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RE: Next administration and the economy - 9/17/2008 9:57:17 AM
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cow451
Posts: 3960
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quote:
ORIGINAL: P31W
I am not to concerned with Social Security. It's medicare that's the HUGE problem.
I am pro raising the age to qualify for medicare. For someone my age (mid to late 40's) I believe the age should be raised TODAY to 72 years old before you quality. For someone younger the age to qualify should be even higher.
One cannot be addressed without the other being in play. Another reason I favor McCain is that the dems are likely to control congress. A GOP president will provide some balance. My belief is that the federal govt functions worse when one party has control of both congress and the White House.
_____________________________
Wenn Sie so intelligent sind, warum Sie hier sind?
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RE: Next administration and the economy - 9/17/2008 10:46:29 AM
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HighPlainsDrifter
Posts: 1293
Joined: 9/22/2005
From: The Great Sioux Empire
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I had hoped that President Bush, seeing his low approval ratings, and little to no chance of ever getting past the demonization successfully heaped on him within his term, would have taken the opportunity to introduce a big dose of reality when it comes to the economic future of this country. A couple of years ago, he should have took a page or two from Ron Paul, and should have started a crusade to cut the size of this government that's going to bankrupt us all eventually. The current path of borrowing and giving more and more entitlements by every new political term is going to destroy this country eventually, probably within a generation.
One of my biggest hopes is that McCain can win this election, be true to his nature, and can serve up a lot of bitter pills to everyone in DC, ignoring any second term goals.
_____________________________
Molon Labe
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RE: Next administration and the economy - 9/17/2008 10:54:58 AM
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csl7037
Posts: 1630
Joined: 3/24/2008
Status: offline
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quote:
ORIGINAL: cow451
quote:
ORIGINAL: P31W
I am not to concerned with Social Security. It's medicare that's the HUGE problem.
I am pro raising the age to qualify for medicare. For someone my age (mid to late 40's) I believe the age should be raised TODAY to 72 years old before you quality. For someone younger the age to qualify should be even higher.
One cannot be addressed without the other being in play. Another reason I favor McCain is that the dems are likely to control congress. A GOP president will provide some balance. My belief is that the federal govt functions worse when one party has control of both congress and the White House.
I agree, they go hand in hand but I think same should happen with SS that P31W is suggesting with Medicare - a gradual phase out/down. A person my age (mid-30s) has no business expecting to ever see a dime of what's being taken from them under the guise of SS witholdings come back to them at retirement or any other time. If you don't have enough sense to plan for yourself, you're going to be hurting.
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RE: Next administration and the economy - 9/17/2008 10:57:32 AM
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HighPlainsDrifter
Posts: 1293
Joined: 9/22/2005
From: The Great Sioux Empire
Status: offline
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quote:
I am not to concerned with Social Security. It's medicare that's the HUGE problem.
I am pro raising the age to qualify for medicare. For someone my age (mid to late 40's) I believe the age should be raised TODAY to 72 years old before you quality. For someone younger the age to qualify should be even higher.
I agree with this, plus I would take a serious look at putting a needs test of some sort on both Medicare and Social Security.
_____________________________
Molon Labe
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RE: Next administration and the economy - 9/17/2008 11:01:14 AM
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csl7037
Posts: 1630
Joined: 3/24/2008
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quote:
ORIGINAL: HighPlainsDrifter
quote:
I am not to concerned with Social Security. It's medicare that's the HUGE problem.
I am pro raising the age to qualify for medicare. For someone my age (mid to late 40's) I believe the age should be raised TODAY to 72 years old before you quality. For someone younger the age to qualify should be even higher.
I agree with this, plus I would take a serious look at putting a needs test of some sort on both Medicare and Social Security.
But if you put a "needs" test on it, call it Medicaid and stop taking it out of MY check! But they can't do that. So let's just drop the pretense, it's welfare and money I'll never see again. I just want them to be honest about it. Social security is not what it was created to be - but that was a ridiculous idea anyway.
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RE: Next administration and the economy - 9/17/2008 11:05:45 AM
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relady
Posts: 1279
Joined: 4/11/2005
From: Greater St. Louis Metro
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quote:
Social security is not what it was created to be - but that was a ridiculous idea anyway. One that has lifted elderly people out of poverty and that has worked for 70 years or so. I'm not so sure I consider that "ridiculous."
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RE: Next administration and the economy - 9/17/2008 11:09:00 AM
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P31W
Posts: 2972
Joined: 6/13/2005
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quote:
I agree, they go hand in hand but I think same should happen with SS that P31W is suggesting with Medicare - a gradual phase out/down
I believe this has already occured with SS. I don't believe I can draw full soc sec until I am 70?
My mother is 78 and is still employed. Most of her peers do something that can earn them some money. Most of the women in my church still work and many of them are in their 80's.
When Soc Sec was first set up the average life expectancy was what 65? So they didn't intend for people to "retire" on it. They expected that half of the working people would be dead by that age.
Back then 65 was "elderly" today it's not.
My husband and I never plan to stop working just for the sake of stopping. We plan for a time when we may be unable to produce enough money to support ourselves by work alone.
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RE: Next administration and the economy - 9/17/2008 11:21:54 AM
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HighPlainsDrifter
Posts: 1293
Joined: 9/22/2005
From: The Great Sioux Empire
Status: offline
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quote:
But if you put a "needs" test on it, call it Medicaid and stop taking it out of MY check! But they can't do that. So let's just drop the pretense, it's welfare and money I'll never see again. I just want them to be honest about it. Social security is not what it was created to be - but that was a ridiculous idea anyway.
You're going to have to keep paying it for awhile, even if it's cut, to cover the borrowing they've done against it. Sorry, man. We're ALL going to have to keep paying for a very long time. A drunken sailor, known as the federal goobermint, has squandered all our spending money, and it's going to take quite some time to pay off this particular credit card.
_____________________________
Molon Labe
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