WebsterMark wrote on 05/20/13 at 08:36:35:Economy: This is tricky. Are we better than 2008? Yes, is it real? NO.
How is the economy ‘better’ now than 2008; specifically?
What do you mean by ‘is it real? No”
So how to rate Obama: he is doing what every other president has done since 1971... do what the bankers tell him. DO the bankers give a darn about the country? NO.
I’m always confused when I hear comments like this. The world was an awful, dirty and miserable place until capitalism freed the masses to move upwards. Until then, you pretty much stayed in the class you were born in. Capitalism has improved the health, prosperity and lifespan and everyone on the planet. For several thousand years, humanity remained basically stagnant. It wasn’t until the economic growth spurned on my entrepreneurial activity raised everyone’s prospects. So in a sense, what’s good for business is good for all.
How is the economy ‘better’ now than 2008; specifically?Well it certainly isn't worth arguing over, but by in large I think there is general consensus that:
The stock market is higher ( 15K versus 11k)
credit is available to business (that was a fear in 2008)
New housing starts are up
housing values are not in decline
unemployment is increasing at slower rate
What do you mean by ‘is it real? No”The current economy is the result of multiple massive quantative easing ( Ie printing money) and an artificially low interest rate. The government is "forcing" prosperity by just printing money. Even Bernanke said at some point the interest rate must come up. (from 0 to something). Were market forces allowed to dictate current rates... it would be a whole different game. Thus this current prosperity is fake, the economy is fake. It is a manipulated market. To be sure the manipulation is designed to make the true economy hurt the least... for politicians and banks.
I’m always confused when I hear comments like this. The world was an awful, dirty and miserable place until capitalism freed the masses to move upwards. Until then, you pretty much stayed in the class you were born in. Capitalism has improved the health, prosperity and lifespan and everyone on the planet.I don't think we JUST adopted capitalism in
1971. So your statements actually confuse me. I am certainly not against capitalism!! I am very "free market". I am not anti-business.. I am just not for welfare for business... which is the current norm.
I hope that cleared up my position.