My fears for this economy.

[BenBurch]

Listening to financial analysts this morning, and, WOW do things sound bad.

If what they were saying is at all true, I see this sort of thing coming;

1. "Bail Out" will fail to restore lending, and may make matters drastically worse.

2. Holiday season will founder.

3. Massive job losses, up to 20% unemployment.

4. Failure of many major retailers.

5. Tax revenues down, forcing major cuts of government spending until major tax increases can be levied against those in the upper two brackets.

6. Very high bankruptcy rate.

7. Very high foreclosure rate.

8. Foreclosed assets will fail to be maintained, and will lose nearly all value.

9. Government will be unable to sell bonds.

In other words, a Great Depression.

And I do not see a way out.

Thanks SO MUCH to the GOP for the wonderful state they are leaving everything in.

 

[dudalb]

And of the course the Democrats are spotless lambs in all of this.
Just another Partisan rant from Ben.

 

[Francesca R]

Brilliantly argued, sceptically-minded and critically-thunk OP. *clap* (Except for all of it)

 

[Bob Blaylock]

5. Tax revenues down, forcing major cuts of government spending until major tax increases can be levied against those in the upper two brackets.

It seems to me that a good working definition of a “Liberal” in the context of U.S. politics is someone who thinks that the best solution to any problem is more taxes (especially on “The Rich”) and more government spending, and in general, having the government impose more and more of a burden on the people and the economy.

 

[liverleef]

You know there is plenty of blame to go around, including on Democrats and their old friend Fannie Mae.

 

[dudalb]

Ben's political philosophy:

Democrats are GOOD.
Republicans are BAD.
Repeat ad infinitum.

Of course you have plenty whose philosophy is.

Republicans are GOOD.
Democrats are BAD
Repeat ad infinum

A plague on both their houses.

 

[Gagglegnash]

Hi

That's why we have Democrats and Republicans... so maybe, just maybe, they can wear the sharp edges off of each other before things get too cut up and bloody.

 

[MIKILLINI]

Actually the biggest mistake of out of all this is taking advice from people like Henry Paulson, Phil Gramm on the Republican side and Rick Rubin on the Democrat side.
Their similar economic policies are not favorable to the middle class, but it is now the middle class once again having to shoulder the burden.

 

[ServiceSoon]

5. Tax revenues down, forcing major cuts of government spending until major tax increases can be levied against those in the upper two brackets.

I don't think this will happen. Can't the government just print more money to keep government running? I do recall that Michigan had a budget crisis and they ended up sending government employees home until a solution was found. The solution was to increase taxes on "certain" services. California has warned the USA Treasury Department that they might need to borrow $7B.

 

[BenBurch]

I don't think this will happen. Can't the government just print more money to keep government running? I do recall that Michigan had a budget crisis and they ended up sending government employees home until a solution was found. The solution was to increase taxes on "certain" services. California has warned the USA Treasury Department that they might need to borrow $7B.

The Weimar Republic tried the "print money" route when they were similarly strapped with war debts they could not pay. Here was the result;

The currency was worth more as heating fuel than as currency. My relatives lived through this, and I was told about it in some detail as a child. It was not pretty.

 

[BenBurch]

Ben's political philosophy:

Democrats are GOOD.
Republicans are BAD.
Repeat ad infinitum.

Of course you have plenty whose philosophy is.

Republicans are GOOD.
Democrats are BAD
Repeat ad infinum

A plague on both their houses.

I don't make personal attacks on you, and I don't put words in your mouth, and I would thank you to pay me the same courtesy.

I don't think Democrats are an unmitigated good, but you are right, I think the Repubs are corrupt beyond redemption, and I hope that the Libertarians take over as the party of the Right as I still respect them.

 

[dudalb]

I don't think Democrats are an unmitigated good, but you are right, I think the Repubs are corrupt beyond redemption, and I hope that the Libertarians take over as the party of the Right as I still respect them.

And since the Libertarians are so far out there that they have about as much chance of being elected to office as a snowball in hell, that would leave the Democrats as the only major party in the US, and the US as a defacto one party nation, and the political left in total control.
Cute, really,cute.

 

[Blackadder]

how about:

Republicans Bad
Democrats Bad

let's start again from scratch.

 

[Crowlogic]

It seems to me that a good working definition of a “Liberal” in the context of U.S. politics is someone who thinks that the best solution to any problem is more taxes (especially on “The Rich”) and more government spending, and in general, having the government impose more and more of a burden on the people and the economy.

Well I'm a liberial. A dyed in the wool liberial. The worst kind of liberial because I'm educated and well read. But my definition of liberial isn't tax and spend. Tax and spend is the definition that Regressive Right Wingers
have attached to liberials. As a liberial my definition liberial is comming to the aide of those in need of defense. And gosh darn it (I'm just being folksy kids) there are a heck of a lot of people in need right now and by golly I didn't spend 2 years in the peace corps to just sit back in middle age, count my blessings and pat myslef on my liberal back and say job well done Crow.

But guess what Mr & MS Regressive Necon you've had your day. You rose to power, you feathered your Necon nests and peddled your Neocon dribble for a good long time. Buts its over now its done you pissed it away your McMansion is burning and shucks nobody gives a fig. Not France, not Mexico, not China and not Japan and oh by the way not me either. But not to worry too much. The Gentleman who steps into the Oval office in February is simply a Democrat, not a liberial. Yet taxes are going to go up, rest assured they will. However consider this taxes that are plowed back into society have a tangable benifit. Maybe if we're lucky it'll be possible for poor folks to get something that resembles real health care. Maybe it'll be possible that middle class people struggling will be able to get real health care. Maybe some of our deathtrap bridges, roads and tunnels will get the long overdue attention they need. And maybe just maybe we'll fund a few new industries that in turn will inspire a new interest in science. I hope so since we are well on the way to becoming a nation of dullards. But dullards make good cannon fodder, hell the dumbing down of America has worked perfectly for the Neocons. The US Military has become the employer of last resort now that we don't make anything here anymore. Yessir we've go cannon fodder to feed the Neocon war agenda. Hmmm come to think of it we've just about run out of cannon fodder too!

 

[dudalb]

how about:

Republicans Bad
Democrats Bad

let's start again from scratch.

I could sign on to that, except the US Third Parties are pretty much a collection of loons.

 

[dudalb]

Well I'm a liberial. A dyed in the wool liberial. The worst kind of liberial because I'm educated and well read. But my definition of liberial isn't tax and spend. Tax and spend is the definition that Regressive Right Wingers
have attached to liberials. As a liberial my definition liberial is comming to the aide of those in need of defense. And gosh darn it (I'm just being folksy kids) there are a heck of a lot of people in need right now and by golly I didn't spend 2 years in the peace corps to just sit back in middle age, count my blessings and pat myslef on my liberal back and say job well done Crow.

But guess what Mr & MS Regressive Necon you've had your day. You rose to power, you feathered your Necon nests and peddled your Neocon dribble for a good long time. Buts its over now its done you pissed it away your McMansion is burning and shucks nobody gives a fig. Not France, not Mexico, not China and not Japan and oh by the way not me either. But not to worry too much. The Gentleman who steps into the Oval office in February is simply a Democrat, not a liberial. Yet taxes are going to go up, rest assured they will. However consider this taxes that are plowed back into society have a tangable benifit. Maybe if we're lucky it'll be possible for poor folks to get something that resembles real health care. Maybe it'll be possible that middle class people struggling will be able to get real health care. Maybe some of our deathtrap bridges, roads and tunnels will get the long overdue attention they need. And maybe just maybe we'll fund a few new industries that in turn will inspire a new interest in science. I hope so since we are well on the way to becoming a nation of dullards. But dullards make good cannon fodder, hell the dumbing down of America has worked perfectly for the Neocons. The US Military has become the employer of last resort now that we don't make anything here anymore. Yessir we've go cannon fodder to feed the Neocon war agenda. Hmmm come to think of it we've just about run out of cannon fodder too!

You are coming off like a conservative Parody of a liberal.

 

[Crowlogic]

You are coming off like a conservative Parody of a liberal.

Perhaps you should get out more?

 

[BenBurch]

And since the Libertarians are so far out there that they have about as much chance of being elected to office as a snowball in hell, that would leave the Democrats as the only major party in the US, and the US as a defacto one party nation, and the political left in total control.
Cute, really,cute.

Libertarians too weird?

I don't think you have read much on Libertarianism. I was there in the beginning, almost. I worked on Roger McBride's campaign in '76.

Though the Libertarians have their "kook" element, there is a respectable mainstream Libertarianism that is nowhere near as crazy as mainstream Republicanism, if in fact you can even figure out what Republicans stand for.

Whereas it is not hard at all to know what the LP stands for;

http://www.lp.org/platform

Have you read it?

If not, why not?

 

[PixyMisa]

You are coming off like a conservative Parody of a liberal.

Poe's Law strikes again!

 

[Gurdur]

....... there is a respectable mainstream Libertarianism .... Whereas it is not hard at all to know what the LP stands for;

It seems extremely odd to describe a party that can never get even 2% of the federal vote as "respectable mainstream".