Devil505 wrote:Seems like the worst fears of many of you is happening.........The U.S. economy is getting better!!
I'm not saying anything other than your above proclamation is the poster child for "way too early to tell anything".
As far as "best economists in the world".....I'm assuming one of the genius economists you refer to is our esteemed tax evading secretary of the treasury, the guy who was a key player in the previous bailout packages and now that he has learned from his mistakes is orchestrating the new toxic asset bailout. It gives me great confidence that the D and R legislators that couldn't find the time to read what they previously approved are ready to do it all over again. I don't think you realize that many of these same genius economists advising the President were involved with the D & R legislators to come up with the initial bailout packages last year. As far as I'm concerned, the D's and R's are still arguing about what shade of gray to paint the wall.
As for specific solutions, a few broad strategies that I believe would have been a better direction...specifics to follow after I retire and have the time to flesh them out. Since it is our legislators jobs to hammer out the specifics with all our tax dollars at their disposal for research, I'll let them have at it first.
The Fed Reserve needs to be overhauled, subject to oversight & audits (they aren't now) and may even need to be obliterated. A much smaller scale "program" should have been implemented to see what would work and what wouldn't before wasting hundreds and hundreds of Billions of future generations (Chinese and American) dollars. The fear mongering the D's complained about with respect to the R's was used by the D's with respect to the economy to push through the latest huge bailout package. Many of the bailed out institutions should be allowed to fail since they were not smart enough to run their businesses. AIG should not have been bailed out as an entity, parts of it could have been saved to keep the supposed total and irreversible economic devastation from happening, but other "divisions" should have been pruned. "Retention Bonuses" are a joke, since when do we want to retain the fools that ran their businesses into the ground? Auto businesses should go into some form of bankruptcy so that current contracts and obligations can be renegotiated to account for current business models. Troop levels should not be increased in Afghanistan as the current President is doing and troop levels should in both Iraq and Afghanistan should be drawn down to zero, that would save a few dollars.
I hope that the CHANGE the majority of Americans thought they were voting for last November actually happens, but with the same players on the field I don't believe it will.
One other pop culture observation regarding the new administration...
Maybe it is due to a honeymoon period, but the satirical comedy shows I have seen have really given the new President a free pass. There has been plenty of material for them to use and I have not seen it on the Comedy channel, SNL, Leno or Letterman. They all had no problem using the mountain of material GWB supplied and I'm glad they did. I noticed last night that Letterman still skewers GWB rather than going after the new President. I think that although these shows are entertainment, they do play a role in keeping the people in power grounded at least in the public's eyes by lampooning them and keeping issues in front of the public through comedy. For example, going back a ways, when the Enron fiasco was unfolding Leno and Letterman kept their jokes going for weeks (Letterman had the "Ken Lay" guy in the audience) which helped keep people from forgetting about the justice that needed to be pursued. Maybe I am missing all the good stuff, but I hope they take off the gloves.