Comments on: It’s the economy stupid! Or is it the stupid economy?

By: prosperingservant

prosperingservant — Sat, 08 Nov 2008 21:17:21 +0000

I very much agree with your point on job security. I am very big on job security and doing everything possible to increase it. I have put some more of my thoughts about this into a few of my blog posts. If you want, you can find them by clicking on my name.

By: Nadine

Nadine — Thu, 06 Mar 2008 03:49:24 +0000

American government is admiring…They are full responsible to the citizen’s life. I am sre they’ll keep the good working.

By: Ben

Ben — Tue, 04 Mar 2008 12:12:50 +0000

The market is driven by crowds. And crowds are often stupid.

Gustave’s The Crowd book has many good stories about stupid mobs and mass dellusions.

By: Gregory Bain

Gregory Bain — Tue, 04 Mar 2008 00:55:55 +0000

The government should do “something”. It was the government that has taken us where we are today. A stimulus package should be massive repair and replacement of the country’s infrastructure. This spending package is the type of investment in our country that creates jobs and encourages private investment that creates real growth. A CEO of a company sees the government spending money somewhere and bingo that CEO is investing his golden parachute on new business to support the government business. Sending people a thousand dollars to buy a TV made in China is one of the dumbest things I have ever heard of. Stupid is not a nice word, but I can’t think of a stronger one that would meet the PC. Am I allowed to say RETARDED?
Richard, I think it is going to get a lot worse before it gets better.

By: Soa

Soa — Mon, 03 Mar 2008 21:36:57 +0000

The government cant just leave things alone. That will never happen, lets face it as long as we complain they will try to fix it.

By: val

val — Mon, 03 Mar 2008 21:23:28 +0000

America have been through this before and I’m sure the government is very much aware and doing everything for the better. Stagflation sounds scary indeed.

By: Jeff Brown

Jeff Brown — Mon, 03 Mar 2008 18:34:42 +0000

Richard — Your points are well taken. There are a couple things worthy of comment.

>The average person is feeling the pain. There is pain at the pump, pain at the grocery store, pain just about everywhere.

True enough — so when they get the stimulus check from the gov’t they won’t spend it? Sure they will. Is the Bush package the best way to put us back on track? Hardly — as making the tax cuts permanent while slashing corporate taxes would be have far more impact. Nothing like creating more jobs in the private sector to jump start economic growth.

Credit may be easing at the Fed level, but as you’re well aware, the whining has reached deafening levels in response to the underwriting changes installed recently. Loans sliding through just last summer are either rejected or made less palatable through underwriter ‘modification’.

Obviously the picture you paint is credible, as the circumstances are what they are. That said, what’s your take on what’s happening over much of the country? Buyers are beginning to jump off the fence, taking down builder inventory and distressed property. If that trend continues, and the Fed backs off, do you think the economy might begin to stabilize?

You’re one of the good guys, Richard.