You're right. Only the government, led by the astute and principled GOP that recently presided over runaway deficits and turned a blind eye to a financial sector whose misfeasance and fraud caused a worldwide recession, can fix the economy.
Bad wording on my part, I didn't mean they would fix the economy. I meant he shouldn't expect it from the GOP until next year when they win the Senate and White House.
Although the economy will begin to turn around before the 2014 elections so the GOP will get the credit.
Reasonable. Sorry for overreading your post.
Why do you think so?
And also, what counts as a turnaround? GDP growth at what level? Job growth at what level? I ask, because technically, the economy is recovering right now, if you go by GDP.
(not that I put much store by that recovery -- weak and anemic are appropriate adjectives to describe it)
Housing market will stabilize and improve as the TBTF's work through foreclosures and clear inventory then they will begin lending again. The Euro debt crisis will be resolved one way or another. Plus another year or 2 of people paying down debt and saving should be a big help. I haven't looked recently but the savings rate was up close to 6% earlier this year from what I recall.
Unemployment begins to go down significantly. I think that's the only measure that matters to most voters.
delinquent mortgages foreclosed mortgages, Real Estate Owned, are huge depressors of a key market driver, home building and selling.
http://www.calculatedriskblog.com/20...-declined.html
Many underwater homeowners hampered by high interest rates
The vast majority of Americans with mortgages worth more than their homes are also stuck with high-interest-rate loans, putting them in precarious financial situations, according to data released Tuesday.
A total of 10.9 million homes with a mortgage were in a negative equity position at the end of the second quarter, cons uting 22.5% of all residential properties with a mortgage, according to Santa Ana research firm CoreLogic. That was only a slight decline from 22.7% during the first three months of the year. And of those "underwater" homeowners in the second quarter, 3 out of 4 were paying interest that was above the market rate,
http://articles.latimes.com/2011/sep...homes-20110914
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"some" are predicting another Lost Decade for the 2010s, repeating the Repugs' Lost Decade of the 2000s, for real household income and jobs creation remaining flat.
9.1% Unemployment should help that.
Anyone minus 9.1%
lol new norm.
Yes, even any of the 9.1% can become millionaires.
Do you think this will be the same 9.1% forever? Large numbers of people, due to choice or cir stance, move between the ranks of the wealthy and the poor.
Also, I would bet some of the 9.1% are already wealthy, they're just not working right now.
Well, it's a revolving door then Yoni. At any point in time, my equation still applies.
As does mine. Anyone can be wealthy and successful in America. ANYONE.
You are mistaken, friend.
No, I'm not.
If Snookie can become a millionaire, ANYONE can become a millionaire.
Can EVERYONE be wealthy and successful?
You assume 100% turnover. Not a reasonable supposition imo.
I assume nothing. I fully realize there are people that will never become wealthy but, that's not because the opportunity isn't there. And, that opportunity is unique to America. It's why people continue to immigrate into this country; because of the promise they, too, can be successful, just like Tony Bennett or Donald Trump or Barack Obama or whomever. Look at the vast cross-section of successful wealthy people in this country -- from gang banging criminals to Appalachian white trash -- and tell me it's not possible for anyone, absolutely anyone, to become wealthy and successful here.
Fact remains, anyone -- and I mean anyone -- can, under the right cir stances become wealthy in America. That's the American Dream.
I will concede that people who don't think the American Dream exists, likely will never be successful or wealthy.
"can, under the right cir stances become wealthy in America"
Some Cir stances Are More Equal Than Others.
Economic/social mobility has decreased since the VRWC got organized in the mid-70s. The conversatives have done everything to maintain and increase, aka "conserve", their wealthy status, while doing everything to remove opportunity (and wealth) from the lower 95%.
"can, under the right cir stances become wealthy in America"
Some Cir stances Are More Equal Than Others.
Economic/social mobility has decreased since the VRWC got organized in the mid-70s. The conversatives have done everything to maintain and increase, aka "conserve", their wealthy status, while doing everything to remove opportunity (and wealth) from the lower 95%.
Everyone has the opportunity.
Why you don't think the American Dream exists then, yoni?
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