02-23-2018, 11:06 AM
(02-23-2018, 04:16 AM)JustWinBaby Wrote: I AM afraid of the next recession, because Obama's recovery is basicaly Bushanomics on steroids. W's economic growth was fraudulent - it was fueled by financial services (mostly mortgage financing). But Obama's isn't any better. More easy money, more cheap financing. We didn't learn our lesson the first time and the next time will probably be worse. Nothing to do with regulations - but your politicians will make sure you "know" otherwise.
What scares me about the next recession is not only the potential severity because of what you state here, but also that we have put ourselves in a position where trying to dig ourselves out of it will be very difficult. We've talked on here before about true Keynesian theory and how it isn't being followed. Because we have been engaging in the behavior that we should be doing in economic downturns even when we aren't in one it is going to mean we may not have anywhere to go when the recession hits.
"A great democracy has got to be progressive, or it will soon cease to be either great or a democracy..." - TR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." - FDR
