Hold onto your pocketbooks, the economy is taking a nosedive?

Question

The Federal Office of Monetary Control finally admitted there was a gorilla in the room as far as the economy is concerned. In their recent release they concluded the economy was more of a concern than inflation. To combat recession, the FOMC will likely start dropping interest rates.
Economic data released for August indicates a falling economy. This will not bode well for the Republicans during the upcoming elections. With deficit spending still high and the dollars still losing value on the currency market, the last thing we need is a recession.
With a huge federal deficit, an endless war in Iraq, and a possible recession, what exactly can a Republican presidential candidate offer America?

Retired Cop
You're missing the point. If we do go into a recession, the deficit will increase because less income tax will be collected.
It's going to be very hard to fund the war. Increased deficit spending due to income tax shortfalls will lead to a greater inflation rate.
A recession, if that what we are headed toward, is the worst thing that could happen at this point.

Answer 1

We are spending 1.5BILLION/Week on the Iraq war. This is unsustainable by any standard. National debt is up to 9 TRILLION (I am a scientist, but honestly do not comprehend easily what a TRILLION is, Earth has been around for only 4 BILLION years). The dancing floor over the volcano is wearing thin. Interstate Mortgage just announced firing of 12,000 people, perhaps they recognize the house market ain't gonna be the dirty dancing with home owners it once was. Foreclosures are at a record high, which brings us to another topic. The war on the middle class is progressing as planned and entering its final phase. The middle class was declared irrelevant and unnecessary long time ago... it is funny how we decided to cut off the branch most people sit on. Middle class American is endangered species and becoming extinct, numbers speak for themselves. China, which owns most of our debt is making ominous noises about switching to Euro, they probably won't but it is away to apply pressure on us. We should pray they do not. Peak oil has happened and we are now on the down slope. Our gasoline prices will reach about $4 soon (I am in the oil business and know a little about it). Eighty percent of freight is transported by diesel trucks, what do you think this price increase will do ?
Did you ever wonder why Bernanke is so cautious with manipulating interest rates ? Because what if he does and nothing happens ? scary isn't it?
The future generation of Americans will owe $150,000 each to pay the national debt, how are they going to do it ? It will depress living standards.
We spent ourselves into the biggest debtor nation in the world. Do not believe those who will tell you the American economy is the engine that makes the world run, and the world can not do without us, that was long time ago... We will witness recession in the near future, the numbers do not lie.
republicans MUST actually practice fiscal responsibility instead of merely preaching it.

Answer 2

About the only thing a Republican candidate can offer America is what Republicans have been planning all along--Martial Law and one man rule.

Republicans caused a lot of this mess by telling Americans to spend, spend, spend after 9\11. The money went overseas instead of back into the Economy. The smart thing to do would have been to pay down debt.

Answer 3

i do no longer think that there advance into the different economic decline because of the fact the melancholy. Plus with our subject this is no longer a count that we lost the money yet we gained't locate it. It shows which you will have confidence a sixteen 365 days previous toddler like me extra with money than you may a grown guy. whilst this occurred back interior the 30's the U. S. pulled the economic equipment back up with the war. We printed extra money and began making extra weapons and armored autos and after the war we've been given extra money for our attempt.

Answer 4

We don't need the New York Times and Wall Street Journal to demonstrate that there is a problem. We don't have to look past housing foreclosures to understand what we face. There are some smart Republicans who had their chance and missed it like Jack Kemp and John McCain.

That said, I don't see a Democrat capable of changing our course either. The next President needs to be a damage control expert. He will have to plug all the leaks and then try to turn the rudder.

What we don't need is another FDR with a next "New Deal."

We need somebody with gonads.

Does that eliminate Hillary?

TD

Answer 5

The Republican candidates have nothing to offer on the issue of the economy or anything else for that matter. The fed will lower the interest rate and they hope that such a move can save us from a deep recession.

Answer 6

No one is talking about it but the American dollar nosedived yesterday--not a good sign for any of us. Which opens the door for the US to be sold to the highest bidder.

The American president is obsessed about Iraq and doesn't give a rat's @$$ about the American people or the sovereignty of the country. Recall Bush, hold special elections and get the sorry S O B and his cronies out of government while the US still has one.

Global communism and it's global agenda and cabal are smacking their lips right now--they can't wait to take over.

Open your eyes, America.

Answer 7

Actually cutting the fed should bolster investors again since the predicted calamity of the housing market has been more of a slow deflation. I don't see recession in our future.The economy may cool a bit this winter but spring numbers will be back on the rise. We have endured some incredible blows that should have crashed us over the past eight years I think a little cooling will be just what we need to keep a bubble from forming that really could crash us.

Answer 8

If he was smart he/she would suggest, Legalizing Hemp as a industrial resource.

Maybe a unified North American currency?? To combat the euro?

Sonojudan

"The funny thing is it doesn't matter, in another twenty years this country will be taken over by morons."

Answer 9

More of the same.Republicans are the masters of deficit spending.Compare the spending and the deficits incurred under Reagan and both Bushes as Compared to Carter and Clinton.

The GOP,which preaches fiscal responsibility,is not responsible with people's money,not by a long shot.

Answer 10

Here we go again Chicken Little the sky is falling the sky is falling they said the something last election sounds like more BS