[Ratmagiclady]

He does indeed. Not sure how spending more money helps the debt problem though.

You don't raise revenues by letting the economy dry up, is why, especially if you don't want to increase the tax *rates* on what's left. The free-for-all-for-the-rich, neglect of infrastructure, stagnant/declining real wages for most Americans, and 'scorched Earth' policies of the Bush years got us *into* this mess, but that doesn't mean turning into 'budget hawks' *now* will make the economy go...

Spirals of economic contraction will only make the foreign debt *bigger* compared to our GDP.

[Das Boot]

RML, my biggest problem is that the president's economic coucil is made up of the same people that let this mess happen by ignoring warnings made over ten years ago. In fact, they are the few that have not come out and said that they may have been wrong. Even Greenspan said he was wrong. There's more than one solution to any problem and I think that maybe it's time to explore other solutions.

[Nesster]

By all means, sure, let's explore other solutions. The main alternative to this crew - the previous bunch - are arguably more implicated in the current mess, and their 'cure' is worse. So we'd need a take over by Canada maybe. Or do you think Britain would take us back?

[Ratmagiclady]

RML, my biggest problem is that the president's economic coucil is made up of the same people that let this mess happen by ignoring warnings made over ten years ago. In fact, they are the few that have not come out and said that they may have been wrong. Even Greenspan said he was wrong. There's more than one solution to any problem and I think that maybe it's time to explore other solutions.

It's far better than electing people who *can't* admit they were wrong. (Fact is, what Greenspan said, was what went. Period.) A *lot* of people were wrong.

With so much of this, a lot of the problem, particularly on Wall Street, is that the people who messed it up are pretty much the only ones who *can* fix it, like it or not. They had plenty of time to set things up that way, with a gun to our economy's head.

Mere 'fresh faces' for the sake of them being 'names that can't be blamed' may play to certain politics, but it just isn't necessarily the way to get competent things done. Which isn't to say 'trust them implicitly.' Frankly, we needed that oversight that got blocked by the constant filibuster threats, on the private end. On the government end, well, new boss, at least.

[Das Boot]

Nesster, Larry Summers was the old bunch and Timothy Geithner was a junior member of the old bunch. Can't really get any closer to the old bunch than that, the others have since retired. As far as Canada, their system works great for them, but would never work here. It's been discussed on this board here before.

[Nesster]

What the big money companies succeed with so well: outcry against regulations when it suits them, and getting regulations passed when it suits them. The theory that all regulations are bad is bunk: the orderly operation of a market depends on agreed upon rules and practices (aka regulations). So it is a question of what regulations are good.

Leaving it to 'the market' to define what is in national best interest is foolhardy, as 'the market' will define the best interest equivalent to the best interest of the biggest market participants. These in turn are by law dedicated to one purpose only: to maximize shareholder returns. This is the reason the common citizen needs something to act as a check and balance.

We need to feed the cow, but we also need to milk it. The old conservatives didn't like milking, and the old liberals didn't like the feeding. One reason the right was so angry at Clinton: here was a sort-of liberal who fed the cow. And one reason the left was so angry at Reagan: here was a sort-of conservative who pointed out don't we really prefer red meat.

[daacon]

5 Years from now will we have flying cars ?
I will be 5 years older
I will be 5 years closer to not working
The US will become the 11th Canadian Province eh
Earthquake makes Nevada Costal
Tsunami makes Alberta Costal
The PESO becomes the Global Economic currency
We all speak Mandarin

[shooz]

5 years older
And deeper in debt.
St Peter don't ya call me.
'Cause I can't go.
I owe my soul to the corporate store.

[RoxnDox]

Same Sh*t Different (5) Year

And we'll still be arguing about stupid stuff here in this forum.

Jim