The Economy

[GoodKat]

Not sure exactly how things are abroad, but here in the US, the economy is spiraling and no one seems to agree on anything(apart from partisan politicians). I am generally very happy to put in my $.02 on any issue, but when someone asks me what I think of economics, or the bailout plan, I have to tell them that I don't feel justified in holding an opinion on the matter. I swear, it seems like the economy is the most unpredictable, unknowable entity in existence.

So, do any of you know of anyone who can tell me what the hell is going on?

 

[ImprobableJoe]

After the Great Depression, regulations were put into place to prevent another economic collapse. Over the last 25-30 years, "free market" idiots decided to revoke those protections in the name of profits. The economic troubles we see now were the predictable, inevitable outcome.

 

[GoodKat]

After the Great Depression, regulations were put into place to prevent another economic collapse. Over the last 25-30 years, "free market" idiots decided to revoke those protections in the name of profits. The economic troubles we see now were the predictable, inevitable outcome.

I trust you, but I need sources. I've been told way too many different things to take what anyone says at face value.

 

[King Tyrant Lizard]

The problem isn't a few bad eggs taking advantage of the system, or a lack of safeguards over the system to prevent the bad eggs from taking advantage, it is the system itself.

 

[GoodKat]

The problem isn't a few bad eggs taking advantage of the system, or a lack of safeguards over the system to prevent the bad eggs from taking advantage, it is the system itself.

SOURCE!!!

 

[King Tyrant Lizard]

I agree, my posts are the source of all wisdom!

 

[Spase]

I am on exactly the same page as you Kat.

Liberals and Conservatives are too polarized for me to trust anything coming out of their mouths right now. There's something disturbing about the fact that you have two groups in almost complete disagreement about how to fix the economy that are absolutly sure they're right.

I'm used this BS with social issues where it's an argument of values rather than a factual situation...

 

[Synystyr]

Well, I've actually been on both sides of the argument. As a libertarian "capitalist", the answer to the crisis is to let everything fail, reduce regulations, and all will be back to normal eventually. While this probably is the solution to bring American capitalism back to basics, I don't think it holds people who swindled all this money accountable, and it doesn't change the fact it is still American capitalism, where very few actually win in reality respective to those who always win and win more ontop of their wins. I've since realized the error in this logic, that being, the minority of wealth is still a tyranny on everyone that actually produces the wealth. Deregulating doesn't do anything to break private control on resources and means of production. I've long since embraced both sides of the spectrum and realized a libertarian-socialist society is the only viable solution that seems to work. The problem is that last time it was truly tried and successful, the fascist Nazis sold tanks to Francisco Franco and they crushed the revolution in Spain, resulting in decades of right wing dictatorship. It was probably as bad as it sounds, sad story.

The bailouts were also predicted. The bailouts will help you out about as much as church donations will. Its a scam.

 

[FreeFragSGS]

The problem isn't a few bad eggs taking advantage of the system, or a lack of safeguards over the system to prevent the bad eggs from taking advantage, it is the system itself.

Yes, it is.

 

[ImprobableJoe]

I trust you, but I need sources. I've been told way too many different things to take what anyone says at face value.

One good source is Paul Krugman's column for the NYT... he just won the Nobel Prize in Economics.

 

[irmerk]

I haven't been keeping up to date on the whole economic fiasco as much recently, so I don't have very adequate sources. However, a very good video guide to what happened can be viewed here. As ImprobableJoe said, Paul Krugman is a good source on the matter, as seen here.

Many other videos or articles can be viewed, yet they all seem to be either NWO propaganda or Ron Paul squealing. Granted, I like a few of Ron Paul's ideas, but listening to him remains uncomfortable for me.

If you are asking for what is actually happening and has happened, those are good sources for information. However, if you are asking for further information, such as possible alternatives to 'fix' the situation and or future predictions, I, and I'm sure a lot of others on this forum, could scrounge around and find some sources for such said information.

 

[Xulld]

What do you guys think about Dan Ariely?

 

[ImprobableJoe]

What do you guys think about Dan Ariely?

I don't... but I'll be on the lookout for any of his books.

 

[Xulld]

I think its interesting that Dan takes human behavior aspects to economics.

Most economist assume that people are rational for the most part. Its interesting to see just how irrational we can be and remain what I would consider a normal objective person.

 

[irmerk]

I think its interesting that Dan takes human behavior aspects to economics.

Most economist assume that people are rational for the most part. Its interesting to see just how irrational we can be and remain what I would consider a normal objective person.

I thought, for the most part, they did take behavior aspects into account. Though, I do not know much about any of it yet; I only read Freakonomics and The Undercover Economist.

 

[richi1173]

The economy, unlike what you might expect, is recovering. Consumer spending is appears to be stabilizing.

http://www.gallup.com/poll/117391/Consumer-Spending-Appears-Stabilizing.aspx

This is due mostly to the large inventories of many industries which have brought down prices. The housing market in South Florida is a perfect example. Since there is an overwhelming supply of homes, and almost non-existent demand for almost 3 years, the median price has fallen below $200,000. For those living in other states or other countries, this might appear outrageous but in South Florida a house like this is cheap. Many houses were inflated to over half a million or even reaching a million in the depths of the housing bubble. Thanks to low interest rates, bargain prices, and the tax returns in March, the South Florida housing market is moving along. Another reason why housing is up, if you notice, is a spike in housing prices. This indicates to consumers that the disinflation of prices has begun to stop, and thus fence-sitters are begging to jump.

http://www.sun-sentinel.com/business/sfl-home-sales-florida-february-032309,0,6936693.story

Another trend is that construction services is also up. I just arrived this morning from a garbage dump and there were two trucks full of housing scraps. They told us that, they were remodeling bathrooms. In the depth of the recession, this was unheard of, but now, everything is defrosting.

 

[BrentonEccles]

After the Great Depression, regulations were put into place to prevent another economic collapse. Over the last 25-30 years, "free market" idiots decided to revoke those protections in the name of profits. The economic troubles we see now were the predictable, inevitable outcome.

I trust you, but I need sources. I've been told way too many different things to take what anyone says at face value.

Have you seen Zeitgeist Addendum? Uses U.S. government source to explain the economy.

"Zeitgeist: Addendum, attempts to locate the root causes of pervasive social corruption, while offering a solution. This solution is not based on politics, morality, laws, or any other "establishment" notions of human affairs, but rather on a modern, non-superstitious based understanding of what we are and how we align with nature, to which we are a part. The work advocates a new social system which is updated to present day knowledge, highly influenced by the life long work of Jacque Fresco and The Venus Project."