Sheer genius. Between that, $4 gas, massive unemployment, a 3 Stooges foreign policy... why, we are SOOOO much better off than we were 4 years ago.
BUSINESS INSIDER:
Q2 GDP SLASHED TO 1.3%
Sam Ro | Sep. 27, 2012, 8:30 AM | 29,931 |
The third reading on Q2 GDP just came out and the report was ugly.
The headline growth number was revised down to
1.3 percent on an annualized basis.
Economists expected the number to be unchanged at
1.7 percent.
"As we
recently noted, you'll need to watch the rear-view mirror to see the recession come into focus," wrote ECRI's Lakshman Achuthan in an
email to Business Insider.
"The "third" estimate of the second-quarter percent
change in real GDP is 0.4 percentage point, or $16.0 billion, less than the "second" estimate issued last month, primarily reflecting downward revisions to private inventory investment, to personal consumption expenditures, and to exports," wrote the
Bureau of Economic Analysis.
Steps to "fix" the economy:
ReplyDelete1) Hyperinflation to pay off the deficit & devalue public employee pensions
2) Balanced trade (NOT "Free" Trade)
3) Stimulus spending
4) Progressive tax rates
There is NO other formula.
Well, the problems with your idea are many...
ReplyDeleteBecause when you're "devaluing" PSE pensions, you're also devaluing everyone else's.
If you want to devalue PSE pensions (which the democrats would never allow) then quit screwing around, pass a law, and do it... without hyperinflation which would further cripple our economy and completely screw up out BOT... IF anyone would accept worthless money for their products.
Balanced trade is impossible. It's kind of like finding oil in your back yard.
Our trade deficits are with manufacturing countries and OPEC.
While we can become largely energy independent, the democrats would never allow that as they would rather we live in a cave then even remotely risk any environmental issues.
Forget about us ever becoming a manufacturing company. When the fees on opening a damned grocery store in Clark County exceed $1 million... then just delete the idea of a manufacturer-er setting up shop here... particularly when you have to waste money on unions.
We cannot afford the "stimulus spending" we've already wasted on Obama's donors. And the last $800 billion we wasted (and yoked around our children's necks in the form of debt) accomplished nothing.
As for tax rates, you've likely got more money then anyone I know, except, possibly, David Madore who seems to have more cash than the GDP of Rhodesia.
Feel free to give it all to the government. After all, there's nothing quite like walking the walk... is there?
Just leave me out of it.
We can take steps under the current system.
For example, roll back all public employee pay and benefits to 2008. You know, let THEM share in some of that "shared sacrifice" garbage Obama expects from everyone not in a union or working for him.
If they don't like it, they can always quit.
Open up all sources of energy, everywhere to eliminate the hundreds of billions in cash flow going to our avowed enemies.
Re-establish the role of government. Cut spending... cut programs... cut taxes to the level of those of the highest producing countries so we can again... possibly... become competitive.
Visions of Germans shoveling marks into furnaces to stay warm... how did hyperinflation work out for them?
Dude, where'd you get all that self-confidence? I want some of that.
ReplyDeleteI'm thinking perhaps you are not aware of the full extent of our country's financial woes. Primarily that's because it's hardly ever reported, and when it is, it's misreported because of an obscure government-only accounting rule. However, I'm here with the truth:
ReplyDeleteThe federal debt and retiree commitments equal $561,254 per household!
Dude, there is NO WAY to pay that off without hyperinflation.