Comments on: The economy: reasons to be miserable http://blogs.reuters.com/great-debate-uk/2009/06/02/the-economy-reasons-to-be-miserable/ Wed, 16 Nov 2016 01:37:11 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: C. D. Walker http://blogs.reuters.com/great-debate-uk/2009/06/02/the-economy-reasons-to-be-miserable/comment-page-1/#comment-4447 Tue, 09 Jun 2009 05:06:48 +0000 http://blogs.reuters.com/great-debate-uk/?p=1556#comment-4447 Here is an example of what I take from Theodore Roosevelt’s example.
http://en.wikipedia.org/wiki/Theodore_Ro osevelt

I have mentioned a train system. Well, it will need concrete, and for concrete you need ruble, and the Mountains of West Virginia have whole valleys and waterways that have been filled with ruble from cutting off whole mountain tops to get to the Coal.

I wouldn’t mind taking money (I love to bully the bullies) from those upper execs to pay for the mess they made of the country. Instead of “Printing Money” we can take from those who have been unkind to us (by there actions) to pay the locals to clean up their Home State.
Create local jobs, put money back into the system, use ruble(hey, its a resource) to create a Train system to benefit as many Americans as possible.

I heard someone mention losing trucking jobs with the introduction of more train use(the ones we have and the one i wish to build). I say not so, we must be smart. Instead of having Truckers pull those Long Hauls, lets make Delivery of Products more Localized. Use large cargo vans that run on Gas, or Alcohol(made by GM?). Those vans and local routes should be a snap for a real Trucker. The older Truckers, those who have it harder changing, we simply phase them out as we expand the trains.

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By: C. D. Walker http://blogs.reuters.com/great-debate-uk/2009/06/02/the-economy-reasons-to-be-miserable/comment-page-1/#comment-4440 Mon, 08 Jun 2009 18:00:25 +0000 http://blogs.reuters.com/great-debate-uk/?p=1556#comment-4440 What do Wall St. Executives, International Bankers, and most Politicians have in common? Educated in the same places (Ivy League) and money.

Who among us does not try and find work and money for our friends? How many people in this country have circles of friends (based on Education, Money level, and Ideology) that “Hang Out” and do things together?

I look at Wall St., Bankers, and Politicians (Businessticians really- Businessmen in Politics) as a “Clique” based on Power, Control, and Money. They form “Businesses” together, rewrite laws to help their buddies make money, and funnel money to their “Home States” and the “Friendly Businesses” there(Murtha).

When the people in office USE Government to satisfy their wants and needs, all while changing laws to help their “Business” friends(Happen to be Campaign Contributors as well) look around this country and you can see what selfish greedy leaders do to any economy and Country.

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By: George F. Y. http://blogs.reuters.com/great-debate-uk/2009/06/02/the-economy-reasons-to-be-miserable/comment-page-1/#comment-4349 Tue, 02 Jun 2009 23:31:02 +0000 http://blogs.reuters.com/great-debate-uk/?p=1556#comment-4349 Most of the points raised by Mr. Laurence can be understood. However what I don’t understand how Sterling is gaining against USD despite all financial challenges that UK is facing.
BofE is utilizing quantitative easing which in theory may bring down the Pound, that is not happening we can see the Pound gaining against most currencies.
What would be the outlook of Sterling in the coming few months? Is it going to stabilize, move up or down?

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By: Geoff Lane http://blogs.reuters.com/great-debate-uk/2009/06/02/the-economy-reasons-to-be-miserable/comment-page-1/#comment-4347 Tue, 02 Jun 2009 19:32:52 +0000 http://blogs.reuters.com/great-debate-uk/?p=1556#comment-4347 No question about it in my mind – the worst is far from over. Certainly, there continue to be problems that will consume the banking industry (e.g., continued loan defaults), and since this is a “balance sheet” recession, the recovery will be anemic and slow at best (since the deleveraging process is so slow and painful).

In my view, however, the most looming problem by far is inflation – Marc Faber and Peter Schiff, two financial analysts with an excellent track record on prediction of financial trends see at best double-digit inflation (a la 1970s) or at worst, Zimbabwe-style hyperinflation in the USA’s future. Ben Bernanke is in a box – if he raises interest rates and starts selling the Fed’s assets (if he can), he risks sending the economy back into a tailspin. However, if he waits and continues the “quantitative easing” strategy for too long (of which there will be massive pressure on him to do so), the dollar could collapse.

In short, I think we’re heading towards a long period of painful stagflation, if not a hyperinflationary depression. I’m just hoping it’s the former and not the latter. Either way, I’m adding precious metals to my portfolio.

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By: charlie robertson http://blogs.reuters.com/great-debate-uk/2009/06/02/the-economy-reasons-to-be-miserable/comment-page-1/#comment-4346 Tue, 02 Jun 2009 17:51:12 +0000 http://blogs.reuters.com/great-debate-uk/?p=1556#comment-4346 But Gold, like other commodities, rises on increased demand – for instance on increased economic activity. What I ask myself is how many economists had predicted the recession and its effects. How many have the credibility to predict the future?

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By: Peter H http://blogs.reuters.com/great-debate-uk/2009/06/02/the-economy-reasons-to-be-miserable/comment-page-1/#comment-4341 Tue, 02 Jun 2009 15:20:42 +0000 http://blogs.reuters.com/great-debate-uk/?p=1556#comment-4341 My strategy for avoiding being miserable is to read the bad news in the morning, and the good news in the evening. That way I can go to bed feeling happy.

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By: Dave Lawson http://blogs.reuters.com/great-debate-uk/2009/06/02/the-economy-reasons-to-be-miserable/comment-page-1/#comment-4317 Tue, 02 Jun 2009 08:40:07 +0000 http://blogs.reuters.com/great-debate-uk/?p=1556#comment-4317 One thing i would like to see speculated is the possible impact the rail systems will have upon industry in general. It is common knowledge that pound per gallon train freight is the way to go as it always has been. But that would devastate another industry (trucking). This ying-yang effect is mind blowing & all encompassing. With the latest series of events it seems the country I fought for has turned into the proverbial Gotham city. So what has left America that has gotten us away from the superpower we once were? I suppose technology has made us fat and happy. History is known to repeat itself & the definition of insanity is doing the same thing time & time again expecting different results. I refuse to allow this country to become another Rome. Only history will tell.

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By: Anubis http://blogs.reuters.com/great-debate-uk/2009/06/02/the-economy-reasons-to-be-miserable/comment-page-1/#comment-4313 Tue, 02 Jun 2009 00:55:44 +0000 http://blogs.reuters.com/great-debate-uk/?p=1556#comment-4313 Laurence, you forgot to mention the inevitable rise in energy. Crude oil in particular will have a devastating effect on the U.S. economy when it marches back up to the one hundred dollar plus range again. We rely on oil for everything. Fuel, agricultural fertilizer and synthetics prices will all rise sharply. That more than anything else is what changed American consumption habits in 2008. So much for Behavioral Economics.

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