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Posted by JohnQC 2012-09-21 10:45||
#2 I'm afraid that we are going to have to endure a period of falling wages and rising prices for some time.
We have deep structural problems with our economy as we make a painful and cumbersome shift from manufacturing to whatever it is going to be our future.
I don't see any meaningful changes or even honest talk about what is going on between our 'leaders', I don't think they know any more than us about what is going on or where we need to get ourselves in order to recover. They are stabbing in the dark and in a bit of a panic at this point. I don't think trying to save a few billion here or there is going to do the trick, we are going to have to devise and implement an entirely new paradigm to deal with the realities of this new world. This has been a long time coming and is very overdue. We are still struggling to get things back to the way they were before 2006, I think that might be wasted effort, we should be looking ahead.
Fatalism and Nihilism are worthless to us. It doesn't do a damned bit of work to get us where we must go.
Posted by bigjim-CA 2012-09-21 12:29||
the US economy is facing a major structural shift. we have got to get away from being a service-based economy and back to relying on manufacturing & technology. if we can make the jump - tough as that may be - our long-term future is good. but if we fail to make the jump ... we're gonna land in a full-fledged depression. right now .. we're pretty shaky.
i find it personally disturbing that neither of the candidates are really addressing this. they're all talking about the symptoms instead of the disease.
the Fed has just gone to QE3. practically, it means that they have put our entire economy on continous (financial) life support. the trouble is - there's nobody around to pay the hospital bills that keep mounting up while they do that :-)
Posted by Raider 2012-09-21 21:57||