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This is a tough question. I'm going to go with Clinton. Bill did a rather descent job on for the economy. McCain seems to be rather ignorant when it comes to the economy, and I'm not too sure of Obama. Not sure though if a democrat will be good for the economy if they raise taxes.
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The economy and market should regulate themselves. Anytime EITHER side of the government gets involved, it's generally a bad thing.
Heck, all of the presidents to come along, it could be argued that Bill Clinton did the most economic damage to the U.S. than any other; with the insane ideology of "keep interest rates low, despite explosive economic growth for short term gains". I'm not saying that as a Republican or Democrat, because I'm neither. I'm a student of economics.
He basically, pissed away one of the greatest economic boons the U.S. ever saw. Thus, arose sub-prime mortgages, which gave birth to CDO's, which gave birth to our current mess.
I think anyone can improve the economy after the 8 years of bush...I think Obama may end up doing a better job as he has been campaigning on improving the economy. The best bet would have been Ron Paul for the Republicans. That guy was very in touch with the economy...
I personally believe that left to his own devices? Ron Paul would not only have destroyed the US economy, but the world economy at that. Heck, I'm a political neutral. I won't be voting for any of them. But I know economics, that's my business. His ideas were akin to macro-economic suicide.
With government having to take of Fannie and Freddie because the both went belly up, and it will cost taxpayers regardless who gets into office, neither will help avoid an all out depression. What current and past elected presidents have done is next to nothing, and look at the mess the economy is in because of it. You cannot point to just one term, economics are tied to long term corrections, up and down, it makes little difference who president is.
One thing for sure, electing a 173 day on the job junior senator is about as insane as it gets. Name the last time any senator made a good president? With only 15 in history who were elected president, in my lifetime, only Kennedy comes to mind. They were all seasoned long term senior senators, not a single one was a junior 173 day wonder like Obama, so do we really need another senator in office, NO, but sadly, that is all we have to choose from in this broken slanted two party system.
Personally, I would rather see Palin running for president rather than Obama and McCain, but hey, bottom line is it makes not one bit of difference in the end, the economy is beyond repair, and when the average American finally figures out the gov. is well beyond bankrupt, who is going to bale it out, China, Russia, they are the only countries with enough money to cover the mounting trillions of dollars in debt. In fact, either one could break the economy in U.S. overnight. Russia is already prepared to attack U.S. economically to get even for breaking U.S.S.R, just watch Putin as he starts to flex is economic muscle. He is using oil cut off threats to Europe for past year, so he is gunning for crushing anyone who is not aligned with Russia economically, and it is all coming to a head next year. In addition, China could dump their U.S. dollar investments and create an overnight depression, but since U.S. imports so much crap from China, it would come back to haunt them, so a the game of politics continues, but I do expect to see China start cashing out billions in U.S. debt, so beware, dollar has bounced back a bit artificially, and is about to tank again when oil spikes due to Russia strong arm tactics coming to a theatre in your neigborhood soon.
Bottom line, you can only print so much funny money before people start to figure out it is worthless. Bailing out Fannie and Freddie along with the impending few hundred other banks about to go under, never mind one or two more majors like Bear Stearns. so be prepared. This is where the U.S. piggy bank finally gets shattered. Where is all this bail out money going to come from? Yep, you guessed it, the taxpayers who are already in a state of financial distress, so what to you think is going to happen when next president gets into office? Higher taxes are unavoidable no matter what BS they say now. They are nothing more than two bobble head senators who sway this way and that on almost every issue. Obama is a twig compared to McCain, so who do you want in office? Obama will cause depression next year, McCain the year after, so take your pick.
Simple choice, Obama will hit us with higher taxes next year, and this will create a depression faster than McCain's plan will with supposed no tax increases. So is it depression next year, or the year after, either way, the gov. cannot bail out trillions more with nothing in assets to back dollar. Ron Paul is the only one who was talking about this dire situation, and you see where it is getting him, no where, barely a mention in the press. People don't want the truth, the truth hurts, so Paul had no chance from the get go, but if he registers as independent, he will atleast be a tool to allow the voters a NO vote to the two party scam system we now have. So forget which party or person to vote for, it comes down to one thing. You should base your vote on depression hitting us now or later, and it may be a big difference for those who plan ahead and dump the dollar from your portfolio along with your real estate holdings. These are sure interesting times we live in.
You do realize, that the U.S. has held much more debt than they currently do, and paid it all off right? And that this led to one of the greatest boom's in American history?
You do realize, that the U.S. has held much more debt than they currently do, and paid it all off right? And that this led to one of the greatest boom's in American history?
Sadly, this is not entirely true, the gov. is the master of hiding economic disaster, so what we see as the national debt is in reality fudged numbers.
None of us knows what the real debt figures are. What we have yet to see is how much this current revisit to the Resolution Trust days will be ten times worst this time around. When the dust settles, over 200 banks will have gone under.
There is even talk of another major auto manufacturer needed to be bailed out like Chrysler was decades ago. Like I said, what we see is only what the gov. wants us to see, the true debt would collapse all faith in any investments from any country, and China being the largest, I wouldn't be surprised to see them pull hundreds of billions out next year.
Combined with war, recession, massive foreclosures, unemployment rising, defaults on loans at record high, and now Lehman Bros. about to go under, the gov. does not have enough to cover 1% of FDIC lability and we have not even seen the worst yet.
The best bet would have been Ron Paul for the Republicans. That guy was very in touch with the economy...
I agree!
Quote:
Originally Posted by Airelon
You do realize, that the U.S. has held much more debt than they currently do, and paid it all off right? And that this led to one of the greatest boom's in American history?
Sadly, this is not entirely true, the gov. is the master of hiding economic disaster, so what we see as the national debt is in reality fudged numbers.
None of us knows what the real debt figures are. What we have yet to see is how much this current revisit to the Resolution Trust days will be ten times worst this time around. When the dust settles, over 200 banks will have gone under.
There is even talk of another major auto manufacturer needed to be bailed out like Chrysler was decades ago. Like I said, what we see is only what the gov. wants us to see, the true debt would collapse all faith in any investments from any country, and China being the largest, I wouldn't be surprised to see them pull hundreds of billions out next year.
Combined with war, recession, massive foreclosures, unemployment rising, defaults on loans at record high, and now Lehman Bros. about to go under, the gov. does not have enough to cover 1% of FDIC lability and we have not even seen the worst yet.
I agree. Things are going to get really, really bad no matter which puppet gets put in. I predict Lehman Bros is going down next, followed by Merrill Lynch, among others. GM and Ford will need "bailouts" as well. Hell, the FDIC needs the Fed to open the flood gates to them just to cover their obligations!
Oh. You are one of 'those'. First of all, the chart is absolute crap.
It's pointless, since it's 'hoping' and worthless prediction of the future, which is impossible. It's accurate up to 2007, and then it just becomes complete and utter supposition.
Let's talk about facts. About what's going on today rather than talk about what someone 'thinks' will happen. In point of fact, the USD has erased all of the losses of the last year, and is still gaining in strength against every other currency out there.
Here's a chart of the US Dollar Index in the last couple of months:
You don't have this 'hyperinflation' bologna, on a currency that is strengthening more than it has for the 36 years.
As I was saying, the US has held more debt in the past, than it does today. My god, your own chart points that out. So let's take your cute little chart, and make it accurate. Not by just drawing lines as we wish, but talk about what has happened in the past:
In 1949, our debt was nearly twice what it is now. And now we have a strengthening dollar. Correction, a dollar, a currency that is exploding in strength. THAT is what is actual, to this date.
AS I STATED: The US has held more debt in the past, than it does today. Your reply was that this was:
Quote:
What the crunk are you talking about? The US govt has a record budget deficit
BY YOUR OWN CHART you are incorrect. So you mind explaining how you're going to see hyperinflation with Gold down almost $225 from it's highs, and the dollar is making stronger gains, day after day, than it has since I've been alive.
Quit listening to your economic 'heroes', and educate yourself. Look at all of the data. Not just the data that agrees with your previous bias.
We do not see the actual debt anymore, only the fudged numbers not to shock the country into deep depression. U.S. debt was more transparent in 1949, never mind for the obvious reasons, but I am talking now, not the past, and we are in far worse condition now for a dozen reasons, but the number one is that we only see a small portion of the real U.S. debt numbers.
As to dollar moving up, this is pure and simple manipulation, after all, U.S. went to all world banks asking for them to prop up dollar for fear of a massive impact causes be depression. For the most part, they listened, so what we are seeing is a blip effect of this manipluation of dollar, so enjoy it while you can. If U.S. would not have went to world banks, the dollor would have continued slide until who knows what.
Also different today, in '49 we were on gold standard, not so today, so do you know how many dollars were really printed in last year, decade or past fifty years? No one knows for sure, I know I don't, do you? All I am saying is things are far worse now than in any other period, and the reasons are obvious, we are a debtor nation, China can bring us down, not that it would help them economically given on one hand they carry trillions in U.S. paper, and on the other, if they called in their loans to U.S. they would lose all the export dollars they are now raking in. The one that worries me more is Russia, they do want to crush U.S. as Putin holds long time grudge against U.S. and he has only one goal, to be a super power again, but this time it is not cold war, it is economic war.
These are the reasons things are far worse now than in '49. Artificailly prop of dollar cannot be sustained without something more than debt backing it. This is not just a U.S. problem, Japan, Europe, China and even Russia is dealing with economic issues. Japan has been in an economic funk for years, we all know Europe is being hit, just look how Euro had dropped. China housing is seeing first signs of drop in value, and Russia stock market is in trouble dropping 7% due to most recent Georgian invasion as they want to control of pipelines and play the cut off oil game. What a mess, and it is not confined to U.S. alone, so we shall see, but I feel we have not seen the worst yet, so time will tell. Interesting to watch, and like some, more interesting to play, but beware of sudden uptrend in dollar, I don't think it has much more air in balloon. Next couple major bank issues should do it, then gold will rocket back, just how I read market, nothing more, an opinion.
Which President will bring US to Economy?
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