Chairman of Obama's Council of Economic Advisers gives up in dispair; "no idea how to fix things"

reply to post by bpg131313


Not use computers for any trading? You really want to crash the stock market and our economy don't you? Maybe you don't realize almost all retail traders and everyone else uses computers to keep track of stock prices and to buy and sell stocks. There are other simpler means to curtail high frequency trading without going to drastic measures that would affect everyone so much.

I remember only around 10 years ago we were talking about budget surpluses and what a problem it might create to no longer have any treasury bonds because the US would have paid off the national debt. This was all due to a rapidly growing US economy. I believe it can grow rapidly again. The people in the congress and the White House don't have too much business sense. Obama is good at giving speeches but I get the opinion he's more about spending money and socializing health care with high cost increases for all after he leaves office to pay for all of it.

I do not believe elected officials understand the concept of cutting costs. Instead they are increasing costs to consumers via higher health care insurance payments, higher energy costs through proposed Cap and Trade regulation and EPA requirements, higher costs via other programs he may not have even implemented yet, all that is making businesses and consumers reluctant to spend and hire.

If you really want to make this economy grow you need to cut costs to the consumer and to businesses not raise them. It's that simple to explain. A lot more difficult to implement. Forget about the environment for right now. That costs a lot of money. Implement programs to start using resources of this country to expand our economy using things like our vast natural gas resources. We won't even need to import trillions of dollars worth of oil if we used the natural gas and coal already here. We are the Saudi Arabia of natural gas and coal as far as what is in the ground. Let's start exploiting our resources and become prosperous and get everyone working. After we get the money we can cut deficits and raise the environmental standards.