Respectfully NAM, I have seen no proof that expanding 3rd world market potential will anytime in the near future help to recover America from this
financial crisis. In fact, I believe investing money and time in expanding world markets is little more than an expanded version of the old and failed
GOP ‘trickle down’ strategy.
I might mention here that the best analogy for trickle down investment is best described in yesteryear as the ‘horse and the sparrow’, i.e. the
horse eats corn and poops it out and the sparrow eats it and spreads seeds.
I would also add that I must respectfully disagree with your assessment that the wealth lost during the great recession is still around intact. As a
matter of fact, figures I have seen show that a huge portion of this purported wealth was the life savings and future retirements of average income
folks which was in fact lost forever.
I would also suggest this was complicated by the fact a great deal of this purported wealth existed as false equity and only in the hopeful hearts of
those investing it and the minds of those driving this financial debacle.
I would say that without question, whoever the President he/she MUST think and plan ST first and integrate later with LT. Short term reinvestment in
America is the only way to enable financial survival given this still flailing economy. The continued failure of home and commercial mortgages are
likely to be offset by wary investors.
Unfortunately I believe America is years from clawing its way out of the chasm which is this miserable financial debacle which I believe without
question, history will show as far worse an impact on America than the great depression.
I also would totally disagree with your assessment that there is a current steadily growing and improving job recovery and economy. In the past few
months one only had to watch the news to see this is proven every few weeks to be untrue. Our economy continues to flop on its side like a fish out of
I speak to realtor, construction and banking friends around the country weekly and I agree there are isolated pockets of improvement. Having said
that, I would also suggest the financial impact of these pockets are outnumbered 2 or 3 to one by the areas which continue to wallow amidst continued
The commercial and housing construction industry and market are years from any major recovery. We only see small pockets with a few builders
attempting to profit from tax incentives.
The housing market is IMO at least 10 years from scratching its way back to possibly 60% of its previous inflated value before the failure with little
if any possibility of it ever returning to post recession levels.
Credit for a huge portion of Americans has been destroyed and the banks are only loaning to a few investors and a tiny number of real Americans who
wish to purchase homes.
There is a large percentage of Americans today who are without acceptable credit to purchase a car, let alone a house.
The banks are slow playing the release of failing homes and according to many of my realtor friends are still holding millions of homes in inventory.
And with home prices likely to fall again, (money.msn.com...
) and even with some
banks attempting to change the game by forgoing foreclosure to slow the flood of failures, they are likely to eventually break under the weight of
I fear this house of cards which is the failed home inventory will in the next 2 to 5 years collapse around the banks again kicking the life from the
It long ago became apparent that realtors and others continue to propagandize the fact of this purported recovery. Couple this with a government who
continues to pad the actual employment numbers with so called adjustors and you have a formula for failure.
I believe that ONLY bringing jobs back to the US stands a chance of keeping this listing ship afloat.
There is such a huge chasm between American’s cost of living and that of China, as the average urban household income in China
) is so far under the current US “extreme poverty level” to even mention the two in the same sentence. It
appears it could take decades, if at all to close the gap between incomes of China and America. America certainly can no longer continue to destroy
the average wage of the American worker, or they will be unable to life at all.
I hesitate to say positively had America lived within its means and refused deregulation of financial institutions and the rush into the world market,
this great recession would not have happened, but one certainly can now extrapolate a better plan.
The recovery of America is destined to take decades I fear and then will still leave a huge disparity in income between those who have, and those who
don’t. And with the average cost to live continually spiraling upward is a knife twisting in our side.
And we have not even touched on health care, which Obama care will not fix, but that is another subject for another time.
Again, I mean no disrespect to your thoughts and exuberance and only wish I could believe it were true. However, I see only failure to this point
which lends no positive proof of any sort.
edit on 19-3-2012 by OldCurmudgeon because: (no reason given)