Published: Friday, Aug. 16 2013 12:00 a.m. MDT
Congratulations. It took a bit of a stretcch but you manageed to do it. You have
found the dark cloud amongst the good economic news.
It doesn't matter if the economy recovers or not... if the government
doesn't learn to control spending and resist the temptation to print more
money to artificially stimulate the economy.We are headed towards a
fiscal cliff. Not the pretend one politicians create every year or two when we
have to authorize getting ever more and more in dept. The fiscal cliff
I'm talking about is the point where 100% of our GDP doesn't even
cover the interest on our debt, and we just keep borrowing more and more just to
keep up with the debt payments. That's an ugly downward spiral to be in,
and it's in our future.The reason I say it doesn't matter
at this point if the economy is recovering is... We have borrowed more and more
even in the years when our economy was GOOD!The reason printing
money doesn't fix it is... It just devalues every old dollar currently in
circulation (wiping out people's savings and making their earnings almost
worthless before they can even cash the check).Economy recovery or
not... we have problems in our future if we don't control our DEBT.
There can be no good news...(see republican talking points).The sky
HAS been/IS/Will be falling...There...all better.
At least the writer did not give the Bush Administration credit.
Here is the news from the latest Gallup Poll:Obama's Economic
Approval Rating:- 35% Approve- 62% DisapproveWow, such a
rousing endorsement – Not!
The Democrats and much of the media are short sighted about economy. Penny wise
pound foolish. A couple of weeks of growth to them is big news. Did anyone
notice that the stock market was way down this week? Not much talk about that.
If it had been up, there would have been talk by the media. I've said it
many times before, if you want to see what the American economy looks like take
a look at Debt Clock on the net. Watch how much faster we are spending money
than taking it in. Close to 17 trillion debt now. Projection by all but the
CBO have a twenty trillion debt by 2017 and even the CBO has us at 19 plus
trillion. Some day the bubble will burst if the trend is not reversed.
I try to be fair minded but this economy is far from recovering. Many at my
place of work had their hours slashed to less than 30. I'm not sure how
this is helping their economy. I guess rich people who can own stocks like this
stuff but I think the rest of us don't see the "recovery."
I love the double talk. When the stock market drops a few hundred points off
of an all time high - it is a sign of a crashing economy, not profit taking by
investors. When the stock market double in value over a period of four years,
the value of the market is not a real indicator of economic activity. So which
is it.... it is a real indicator when it drops, but is inconsequential when
the markets value rise.There are some factual errors in this
article... but in the grand scheme of things, they are not all that important.
Most importantly is the distinction between if we are exporting more raw oil or
distilled product. The difference here is we are exporting more finished goods
-which has a huge impact on job and job creation.
As sort of mentioned, the Keystone pipeline is really about EXPORTING oil from
the US. Since that oil now goes to the Midwest, our oil prices here will go up
as China bids on that oil then conveniently located for tanker shipping. Oh, and
our trade deficit will go down. But's not always a good thing for we little
and the tax payers are going to build it too.
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