Out of the Woods ?
Is the world economy really out of the woods ? Are the small guys in the west now breathing easy ?
Dec 04, 2009
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so no
I thought for sure this was going to be a Tiger Woods joke. Anytime you have double digit unemployment and a president who thinks its the government's responsibility (and not the private sector) to create jobs and spend money on social programs I would say it is tough to get out of the woods. The US economy now hinges on our ability to figure out a solution to the commercial real estate sector, the next shoe to drop. There have been interesting developments in the CMBS market as of late but we need to address the massive amounts of debt coming due in 2010 and 2011 and the growing unemployment rate.
President Obama has another proposed plan that aims to create more jobs; this program is called Cash for Caulkers. What is Cash for Caulkers, anyway? The Cash for Caulkers has great intentions: conserving energy and saving homeowners money. The idea is the government will reimburse homeowners up to 50 percent of the cost of home improvements that conserve energy use in homes. Don’t count on paying for home improvements with a short term personal loan and getting the government’s reimbursement in time to pay it back.
Any money that the government gives to you is either: a) Part of your money that they originally taxed b) Created through inflation
The government cannot create jobs by giving away money for home improvement. It's just redistribution of wealth. Next thing you know, Obama will suggest giving money to anyone who loses weight and starts eating healthier. You got to be fucking kidding me. So before you go around praising this idea, here's a thought: there would be more jobs if the government lowered taxes, lowered spending, and stopped meddling in the free market.
What? You're saying Obama shouldn't be increasing the deficit in order to create jobs and provide healthcare for all? What's the solution then?
/sarcasm
Hahaha, yeah. I thought this was going to be a thread on Tiger Woods and how much money he'll need to drop for his wife and/or divorce if it comes to that.
Go Tiger!!!!
But as for the OP question. In my opinion no. Way too many uncertain factors still out there. Who knows what's going to happen when all the stimulus and house tax allowance drops off.
I dont like Obama. But, it's hard to argue that increasing government spending doesn't create jobs and pull countries out of recessions. Keynesianism has been proven successful several times. not saying, just saying
and something like this (housing sector) should've been enacted long ago. after all, the housing bubble burst a while ago and it's still impossible to find work in the service market
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