toward a bulk gasoline refinery with nothing to stop it?
After taking a look at all the debt the govt. is in, all the debt that US consumers are in ($800 billion in credit card alone circa 2005), record property foreclosures, the poorly designed and crafted profit reporting requirements for businesses, and very little government (SEC) oversight of business, I think its out of control now.
Bernake might be in the cab trying to put on the brakes, but I think he is going to crash and go up in flames with the economy, shortly.
What is your take?
2007-10-22 11:08:44 · 7 answers · asked by Anonymous in Politics & Government ➔ Government
It is careening... Bush will crash & burn it before he gets out, then blame any clean up on the Democrats.
It can be fixed, but this is a circle It will take a while & no one will be happy. Clinton did it, got it together. I don't understand why people say the economy was bad then, don't t hey live in the same country I do?? Today is bad! Back then was GOOD! The dems will have to get rid of some of the entitlement he has created for the rich, to help pay for all the debt the repubs have stacked up. That is why people see dems as spenders & taxers. We come in behind republicans & have to clean up the mess they made! The repubs in a local election are going to clean up NJ, & stop spending that has been going on for 5 years. Well, 4 of them was from another republican, & the dem since him has been trying to clean up! It is a circle jerk! Not pretty & till we can get the repubs to stop borrowing & charging, we will have less mess to clean up!
2007-10-24 03:28:03 · answer #1 · answered by fairly smart 7 · 2⤊ 0⤋
Out of control meaning Recession?
We might get there...I think it's 60/40.
The NASDAQ, Dow Jones and S&P 500 are up over 10% each for the year although heading down lately.
Gold is heading higher (which could mean a flight to safety).
The 30-year Treasury rates are heading down meaning the price is going up and shich also could mean a flight to safety.
Inflation is falling, unemployment rates have been creeping up since March.
But then the Leading Economic Indicators increased in September.
Looks almost like stagflation or that the price of oil is causing a problem.
2007-10-22 18:27:59 · answer #2 · answered by Anonymous · 1⤊ 1⤋
I think of our economy to Enron...it is propped up for everyone to see but behind that high stock market number.....there is not much holding it up.....
housing is stagnant, foreclosures are skyrocketing, young people out of college find nothing but McDonald's or Wal-Mart awaiting their efforts, Americans in general are in more debt than ever before--they have loans to pay off credit card debt.....
So many just do not understand that the economy is more than a stock market number....and like Enron you can only prop it up so long until the bottom falls out
2007-10-22 18:54:50 · answer #3 · answered by shadow26852 3 · 0⤊ 0⤋
amazingly enough, the system has gotten through more than one close shave simply by maintaining public confidence. That will be the number one priority of the powers that be; once the rank and file start panicking, then it's really out of control. But with the public appeased, tinkering will resume to try to fix the probelm.
2007-10-22 18:14:02 · answer #4 · answered by kent_shakespear 7 · 0⤊ 1⤋
of course its out of control,i think we need a congress that will go over the budget with a big red pen,but i don't think its going to happen
2007-10-22 19:02:43 · answer #5 · answered by Anonymous · 0⤊ 2⤋
I think it's an out of control truck....
2007-10-22 18:13:51 · answer #6 · answered by Prinzess Y 2 · 1⤊ 0⤋
it's like a plane with turbulance on the entire trip. extremely bumpy, but it'll be over EVENTUALLY.
2007-10-22 18:12:40 · answer #7 · answered by super_bean 3 · 0⤊ 1⤋