Comments about ‘Robert J. Samuelson: The Great Moderation 2.0 may have begun, but with a rather dismal outlook’

Return to article »

Published: Wednesday, June 4 2014 11:05 p.m. MDT

Comments
  • Oldest first
  • Newest first
  • Most recommended
marxist
Salt Lake City, UT

"Almost everyone was scarred and scared by the financial crisis and the ensuing slump." Most people are still scared for a variety of reasons. First, the Great Recession was a shock to the system, and we know it can happen again. Second, there has accumulated a knowledge that the Federal Reserve has worked frantically to support banks with only moderate positives to the system - we wonder about the ability of the Fed to really fix anything. Third, people are afraid for their retirement. We hear that potential retirees need to have reserves in excess of $1 million when they retire! Get real, who can do that? Corporations have walked away from pensions and those funds have been looted for a variety of corporate uses (as in the U S West pension fund financing the Qwest takeover). People know when their pensions are shot. Fourth, corporations have reduced investment in the domestic economy, reaping huge rewards using foreign labor. And fifth, neither major party proposes any kind of fix to the foregoing.

People are shell shocked maybe as much as in 1930 when household consumption collapsed. It could happen again.

The Real Maverick
Orem, UT

People will spend less when they're barely making enough to survive.

Once the richies who have redistributed our wealth in this new Gilded Age give us our money back, we will go back to spending.

Until then, only 1 percent will spend. The 99 percent of us will live very moderately.

There You Go Again
Saint George, UT

"...The more intriguing question is: What comes next?...".

President Bush was unable to stall the bursting bubble prior to his exit.

Following President Bush's example President Obama will do every thing under the sun to keep the next bubble from bursting before he exits.

Whomever is elected in 2016 will likely preside over a crash that will make President Bush's legacy look like a walk in the park.

Badgerbadger
Murray, UT

The one action that contributed most to every market downturn becoming a deep recession is over borrowing. Without reckless debt, downturns remain small and blow over. With reckless debt, downturns have a huge domino effect.

I suppose you could say that Samuelson is in agreement with me, since complacency about risk drives people to borrow, but really the biggest issue is the debt.

Blaming the lenders only (the liberal viewpoint) is so shortsighted. Borrowers and lenders are responsible for the contracts they make, or in the case of the housing market, congress interfered, making the federal government partners in lending as well. All parties are responsible.

Because we have not dealt with all responsible parties, our government is now busy making policies that are setting us up for yet another bubble and crash.

And liberals are already busy figuring out how they will blame the next crash on the conservatives.

to comment

DeseretNews.com encourages a civil dialogue among its readers. We welcome your thoughtful comments.
About comments