20 Reasons

[ruttinbuc]

Eye opening to say the least.

http://www.businessinsider.com/20-reasons-why-the-us-economy-is-dying-and-is-simply-not-going-to-recover-2010-2

[stevebeilgard]

it's happening right before our eyes. it's not just us, either. the euro has colapsed and the world economy is in decline. last year i advised anyone with money in the stock market to get into very solid blue chip companies or get out. i'll be selling my little remaining stock very soon and putting it into real estate. i still think we may see a 5000 dow market within the next 2 years. the 10,000 it's at today will look like a dream. i also see the days of little jimmy carter's 18% inflation, 23% bank loans and more headed our way.

on the positive side, i also think i see a hugh conservative victory coming in november and a 1 term lame duck president who may not be able to achieve his goal of taking america into bankruptcy. i also see very big days coming in 3-4 years in the oil industry when the next conservative president orders drilling in america on all federal lands to pay off our massive debt.

but i've been wrong before.

[Orion_70]

Interesting to say the least. Until we get back to grass roots, we're going to be in bad shape. Over 20% jobs offshorable in the near future and corporate tax revenue down so far it will be almost impossible to have a sustainable system. Until we rid ourselves of the people controlled by the greedy in Washington, close the corporate loopholes, repeal the laws protecting the elite and start creating sustainable jobs here in the US, we're going to be at other's mercy. We need to make it more economical for corporations to hire and produce/manufacture products in the US. If it takes raising the import tax and closing the corporate headquarter loophole, that's what we need to do. No more of this assembled in US to avoid taxes. It's either made and produced here or it's not. Corporations are systemically offshoring our jobs and raising fees on services at the same time, all at the detriment and expense of US workers.

I've definitely noticed lately the price of goods have been steadily increasing over the last few years. I don't know what kind of smokescreen economist are putting out saying that there's little inflation, but I can point out dozens of products that have increased well over 50% in price in the last 2 years. Wages have either remained stagnant, decreased, or in some cases disappeared. At the same time, Congress votes themselves a raise and votes down an increase for those on Social Security who most need it.

We owe China over 800 billion dollars, Japan over 700 billion, if those countries ever decide to call our debt our entire financial system will collapse.

I could keep going on a rant, but I'll get off the soapbox now. We need change, fundamental change people to get our country back on the right road.

[m gardner]

The reluctance of the banks to refinance houses and finance small businesses should tell you things are bad. Because they are unwilling to take the risk they really don't expect things to get better soon. When Obama stops blaming Bush and the credit crisis ceases then I'll believe we are recovering.

Right now I work for a guy who has tons of cash on hand and doesn't rely on the banks and his competition is gone so we have too much to do.

Mark