Comments about ‘Global economy in worst shape since 2009’

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Published: Sunday, July 22 2012 10:33 a.m. MDT

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Kings Court
Alpine, UT

Wiseman, said the American economy is struggling again. Since 2008 it has never had a period where it is not struggling, but it is nothing like 2009. If memory serves, in 2009 job losses were almost 600,000 per month. Yeah, we only created 80,000 jobs last month, but creating jobs (no matter how few in number) is still far, far better than losing 600,000 per month. The largest negative force on the U.S. economy is Congress. They have created so much uncertainty that it is almost a miracle that our economy can add any jobs at all. People need stability to feel secure enough to start spending again. Our economy is based on spending. Capitalism is buying, selling, and trading at its core. Despite conservative rhetoric, the real job creators are those who spend money. Spending money creates demand. Demand creates jobs. Not knowing what the tax rates are going to be at the end of each year is ridiculous and entirely the fault of Congress (Republicans and Democrats). It certainly keeps people from feeling confident enough to spend.

worf
Mcallen, TX

When since 2009, has the economy not been struggling? Has the debt been cut in half?

Pagan
Salt Lake City, UT

Want to talk about jobs?

Ok.

Title:

GOP senators block top Obama jobs initiative - By Ted Barrett - CNN - 07/19/2012

Senate Republicans on Thursday blocked the No.1 item on the president's congressional to-do-list, refusing to allow a vote on a bill that would give tax breaks for companies that insource jobs to the U.S. from overseas...'

You want American jobs?

Why would you vote Republican?

This was from last Thursday.

worf
Mcallen, TX

Pagan,

You're talking more government jobs at the expense of tax payers.

We need private sector jobs. Small businesses.

SEY
Sandy, UT

Wasn't this article about the global economy and not just the US?

There are some salient clues in the story that could help readers better understand what's going on beyond the typical Republican vs. Democrat debate that takes place on these boards. For instance, the comment about China voluntarily raising interest rates to cool off their economy shows that they're willing to do what the US and Europe has not dared. Rather, the western nations push the limits of Keynesian stimulus to the limit. Many say it will push us over the cliff.

China has cooled off enough that they could actually make a stimulus work. The western nations have overextended any meaningful use of stimulus to the point it won't work anymore. It will only create more debt and depression. Interest rates need to be rates and unsuccessful businesses need to be allowed to fail. Retrenchment should be the guiding principle before the economy collapses altogether. Suffering a little bit now is a lot better than suffering much more later.

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