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Cutey with a booty

Economy is getting worse and worse. What can govt or any1 do to stop this economic depression?

6.5% unemployment, 250,000 jobs loss in October. Christmas retail shopping is projected to be dismal.... Why isn't Bush trying to do something???
Buwanna:

Government's can't control an economy. Well, they CAN, but it usually doesn't work out very well... see Russia and their infamous "five-year plans." The economy can fix itself, given the chance. The government needs to reduce it's presence in the financial market (in the form of regulations), and then concentrate on maintaining the infrastructure. They need to stop the defecit spending and start paying down the debt. They need to drastically reduce spending and lower taxes to match. That's the stimulus that this country needs.

Cutey with a booty:

I disagree. Government can spend spend spend. GDP = Consumption + Investment + Government spending + Export - Import.

Zeke:

Stimulus is a short term quicky that actually exacerbates the real problem. Deregulation is what got us here in the first place.

Buwanna:

Achoi, the Keynesian theory that government spending is a boon to the economy is a fallacy. That spending is funded either by tax increases or by increased deficit spending (and hence an increased debt), both of which are not good for a troubled economy. For ANY economy, for that matter.

As long as government labors under the impression it can control this economy it will continue to screw things up. Back off and let things work, meanwhile taking actions to reduce spending and pay back the national debt.

Zeke:

Bush is on his way out and does not really care anymore. There are no quick fixes and It would be better to let the new administration handle this enormous and long term problem. Obama has already assembled a great team with Warren Buffet and Paul Volker on board. This is exactly what we need in our next President, Leadership and sound counsel to guide us through this very difficult time. But we will be in this predicament for a long time. It took many years of deregulation and lax government policy to get us here, it take many more to fix it.

Buwanna:

Uhhh, Joe, have you actually studied what regulations our financial sector is burdened with. I know the media and liberal politicians started talking about the "deregulation" of the financial industry as being the cause of our current problems, but that doesn't make any sense. The previous years have seen INCREASED regulation, not decreased. The cause of this wasn't de-regulation, it was government meddling with the financial sector.

Zeke:

Warren Buffet and George Soros both said it was the lack of regulation that got us here. I will defer to their judgment and assessment of what needs to happen to straighten out the economy and markets.

Buwanna:

Okay, you can do that. Personally, I did the research, saw that the one thing we had NOT seen was a reduction in government regulation of the financial markets, and figured they were toe-ing the official line. For myself, I prefer to do my own thinking.

Alabama:

Well..........in addition to the 700 billion bailout that has already reached 943 billion, we are fixing to give the auto makers a bucket full of money. If that don't help us nothin will.

Nicholus:

Yes it is terrible the direction our economy is going. Yes Bush did do something....he helped bail out the culprits who were directly responsible for all of our problems.

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