The President Obama’s address is clear, he wants his new recovery bill passed quickly.
The President made some interesting key points worth considering.
“We need Government to intervene in the private sector.”
Yes, we do. The private sector has proven to be too greedy and not willing to be a team player in the crisis. Greed has still not toned down in certain industries and government is needed to break this habit that some wealthier corporations are not willing to let go of.
“We need to break this recession cycle we are in.”
No, we don’t. As we discussed in our previous articles, recession cycles are necessary to readjust the distribution of wealth between various markets and decrease fake inflation that is in existence. I am human and do realize that unemployment is up and that people/states are in dire need of funds, but we need to realize that breaking a necessary cycle will only prolong its duration and delay its impact.
“There will be full transparency to the money.”
I am 50/50 on this comment. I believe transparency exists in necessary ways, but the reality is that full transparency leads to problems. The media is outstanding at blowing news out of proportion as they are usually Republican or Democratic stations and are fully paid for by those parties. Reality is they will show you what they want, but we have no need to doubt Obama and his administration as they have not done wrong so far.
“Our Government relies strictly on consumer spending.”
It is true. Two thirds of our growth had to do with consumer spending, there lied the problem. Since the past 5 years were based on consumer spending, we are going through withdrawal as we cannot spend as much, because we don’t have credit as back up. Just like a drug addiction, we need withdrawal before we are cured.
“This is the worst economical crisis since the Great Depression.”
Yes, it is. But we will not go into another Great Depression as we are a global economy and are much more diversified than we were back in the old days. This is a deep recession, the crisis is real and is not going to go away overnight, it will require work on all our parts.
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June 10th, 2009 at 5:15 pm
Good post. I think it is possible to recover from depression, but it takes time and patience. I can’t find any good message boards on the net, can you recommend any?
June 11th, 2009 at 10:28 am
thanks !! very helpful post!
June 13th, 2009 at 2:41 am
my God, i thought you were going to chip in with some decisive insght at the end there, not leave it with