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NeedToUseYou -> RE: my hope for President Obama and this country (11/8/2008 10:36:07 PM)
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The more I think about it and watch all the economic news the less I think the president is going to matter at all. It is looking more and more like a 50 ton ball of financial stupidity rolling towards a house built of paper walls, and suddenly we elect Obama, and somehow the laws of physics no longer apply. LOL.
If you add up the total sum of the current round of government meddling it comes to 3 trillion dollars. Our total GDP in 2007 was like 13 trillion dollars, that is not including debt accrued, nor is it accounting for the fact that we are not at the bottom yet as this quarter the GDP will almost certainly shrink more than last. The forecasts from nearly every company indicate as much. Thus that 3 trillion if the current view of the Federal government holds will almost certainly double by the time everything is said and done.
Now, what exactly is a president going to do, really, especially ones like Obama, or Mccain if he had won, as neither are really into changing the fundamental flaws in the system that lead to situation like this.
So, we are looking at least IMO, 6 trillion or more in government debt/risk/investment/new money/ rocking the economy, we are looking at more layoffs if the companies forecasts are to be trusted, and we are looking at a contracting GDP.
Anyway, Collapse is looking more likely all the time or eventual severe inflation, once this temporary dollar strength goes away which nearly every economist I've seen says it will, because the factors contributing to it are temporary.
Trully, the only thing that would have saved this country IMO, would have been to let the destruction occur when it would have naturally. Now, we are simply routing money from the productive economy(that which is profitable) to that section which is fucked (financials, crappy companies), and expecting a stronger system to result.
Hrmmm, something is not right.
Anyway, It is really a perverse situation, and I don't see how Obama is going to poof it away. The damage is already done, even if you bring in the finest doctor in your opinion, it doesn't matter if the body is missing the head. What the hell is he going to do?
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