The state of the world economy.

So far, our President says the economy is recovering strong, but he says this on a day that the Dow dropped over 200 points in a single session. Jobs are being created here in the US, but it seems more government, no private sector jobs. Benefits being cut, people losing jobs. The latter is happening world wide.

Given the enormous amount of debt and our continue deficit spending worldwide, can the world economy continue to sustain itself?

Discuss.

 

Boy is this a dangerous topic motc :eek

Shame that the HBT is gone.

I think all the major economies of the world are the same, they spend money they have not got on foreign aid and junkets for the politicians but when asked to provide health care for the poor they can not find the cash.

We here in Belgium are not a world economy but we have the same problems in that the genuinely poor can not get the help they need but those who are adept at playing the system are driving around in Mercs and BMWs.

Because we are a french speaking country we are swamped with immigrants from the likes of Tunisia and east Africa who learn very fast how to work the benefits cash cow.

In Brussels the most popular name for new born boys is Mohamed and that is a truly Belgian namerolleyes

Laura posted while i was typing.

 

Nothing wrong with this post if you ask me. Just stating facts, which have been reported on websites.

 

The reason i say dangerous is that we used to have a Hot button topics forum and it had to be closed because there were certain members (no longer here ) who would use such topics to air their views but if anyone did not share the same thoughts they then resorted to flaming other members.

As long as that does not happen as Laura said, the post will remain open but she and the other mods will be watching.

 

O.k. No worries..completely understand...

BTW, don't you think that LauraR is the best, and probably most devilishly attractive moderator on the interwebz?

 

The one and only post Ill be making. This stuff usually gets heated. I was brought up poor both parents with jobs being paid more then average wage. And I am poor still. There are no jobs here cept fast foods, very few factorys, town of 10k, very few hotels. Most places are run don and abandon. Two of our bigger factories went to mexico for cheap labor, one was my dads job he had(instead of 9 - 10 bucks they now got people in the south for 50 cent an hour). Anyways I believe we could never blame the presidents that we have now or will have. Because they are not the ones that put the usa in the situation it is in now. Also no matter what president we have and they say they can and will try to add it will not be enough for a long time. Each state has its own debt and mine is one of worst cases. If the president did put many jobs out there that will make us poor people more poorer. You have to think of the people that brought USA to where it is now and blame the people that made a lot of money while world was going down. Think of all those people that got "let go/stepped down" when economy went crap and they are getting omg a million dollars a year pays still. Oh how sad a million dollars is. 1 million is more then what Id make my life time. Heck even me and my family couldn't make a million. Also we have to think our local stupid town corruptness. Instead of money going to building things they built brand new police stations (very nice and big) and 2 new fire stations (very nice and big) Town voted against it majorly because we the people of the town had to pay for it and taxes raised for it. Why build something when our town has nothing but petty theft, little kids causing dmg, and most are drinkers. Why build police station and fire truck station when we clearly had 2 fire stations and 2 police stations? Also atleast tell me why we had to pay for it when we voted no as a town. Now this is coming from a guy who is poor as crap family is poor as crap.. try eating romain noodles and drink coffee and my entertainment is internet over tv. I lost my job and car is broke. But Ill never blame president or my job person. I blame the people that made money and never got hurt in there own pockets yet the american people was the ones hurting. Also you dont know what it is to be poor unitl you there and no help is giving. I got family who gets paid hella money and they seem to think they know what poor is yet they get paid 4k a month and house was given to them. So tell me please sir what poor is?

 

Hi motc7, uh, um, maybe try to stick to the topic at hand, maybe? I myself, just see prices going up and up and up, and pay getting less, don't see where it will ever end. The product packaging is getting SMALLER, while prices are going higher.

Medical bills get higher and higher, too. Both Dr. and RX's. What I get burned about, is RX refills. Go and get a refill, and it is twice the price of before, and the same amount of meds. Just flat out not fair.

The economy will have a very hard time rebounding, for sure. Will it? Time will tell. I doubt if I will see it.

 

I don't see the US's current deficit spending sustainable. Without getting into what the money is being spent on, the government just keeps on growing. Besides a little money from say hunting license and such, the government does not produce any wealth.

Think of your own family budget. You make X, you spend Y, you have Z left over at the end of the month. And sure, we can deficit spend in our personal lives. You can live off a credit card for a while. But you can't continue to do so. At some point, you start getting yourself into a situation where you can't get money balanced. You will eventually be denied additional credit.

Our government is on a much larger scale than a household.

In the future, 'lead' might be worth more than gold...

I hope this post did not drift into the HBT realm, that was not my intent.

 

I was doing that to butter her up so as the thread would stay up...I mean aside from that, we all know that she is without a doubt the most hideously awesome moderator to ever have lived. lol

Man the grocery store is such an indicator of that...Makes me ill.

 

I think that it will improve in time, but right now, well, :crap

 

I was informed the other day that VAT (sales Tax) in the UK is going up to 20%
Britain is retaining it's good old nick name of "Rip Off Island"

Here in Canada it's not been as big an issue, people here think it is but personally I don't think Canada ever really sank into the economy issues fully.

Lets just hope the world can pull out of it, unfortunately it has to be headed by the USA and until Obama starts actually doing the things he promised, I don't see much changing.

 

More they take to make jobs happen is more money taken out of USA people pockets.

 

Which has a knock on effect around the world. With the US being the centre of the worlds economy, any mistakes or bad ideas made in the US reverberate around the world.
Another good example of too many eggs being in one basket.

 

It isn't sustaining itself or hasn't sustained itself,we're going the opposite way to you and making MAJOR cuts in everything due to us voting in a conservative government.

It will be interesting seeing what happens with he two schools of thought,keep spending out of recession hoping the money will help the economy recover or make cuts and chip away at the deficit.

Both have merit and can work,the latter has a pretty immediate negative effect on the most vulnerable in society through no fault of their own but the former pushes the problem under the carpet and spreads out the bill for future generations to pay back through now fault of their own.

I can't pick one really,flip a coin 'a penny if you can find one' sit back and if the penny hits the floor its time to make cuts,if someone catches it and runs off you can spend a little more:-D