Recession finally called, you have to wonder
When will we start to feel it? Obama has to be shaking. Things just seem to get worse and worse for the president elect. Can the nation continue to just throw tax money at a failing economy if it isn't going to really fix anything. With the official announcement of recession it seems that the market has dropped and may continue to drop even further. Should we brace ourselves?
http://money.cnn.com/2008/12/01/markets/markets_newyork/index.htm?postversion=2008120115
posted by Joshua Peterson @ 10:13 PM
11 Comments:
I like how Obama is using a council or traditional and nontraditional members to help him navigate through the current situation.
I dont really think we should...I think that would be the worse thing. If everyone in the country braced themselves and stopped spending money it would only make it worse. Americans need to stop believing that we're heading to a depression and believe in the CHANGE that Obama says is coming.
We will no doubt go into further debt. And the redistribution of wealth takes away from the people who worked hard enough to get to where they are. A recession sucks there's no doubt about that, but economic systems work in cycles so we will be back up and running in due time.
I do agree with you Tyler, however I fear the modern world in a depression.
Obama needs to cut captital gains tax, the corporate tax rate, and taxes on the wealthy in order to the economy going again. unfortunately he'll raise taxes for the rich white so he can give the money to his brothers of color. He's a thug for life and he'll remember the ones he left back on the streets
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At least he is representing.
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