Economy Post Election

Discussion in 'Politics, Religion, Social Issues' started by sfh, Nov 4, 2008.

  1. sfh macrumors regular

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    May 27, 2008
    Location:
    Sacramento CA
    #1
    Do you think that the Economy will brighten up in the next few months?
    Either way I think it will, maybe not totally fix itself but it is bound to get better no mater who is elected.
     
  2. Queso macrumors G4

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    Mar 4, 2006
    #2
    The one worry I have is if the Bush Administration have been holding back on just how bad the situation in the USA is in an effort to boost McCain's chances. If that turns out to be true we could be in for an even bumpier ride over the next couple of years.

    I hope I'm just being overly cynical.
     
  3. Tosser macrumors 68030

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    Jan 15, 2008
    #3
    Citigroup is saying that they expect the rock bottom to be hit in 2010. Which, in other words means that it will get worse and worse until then, assuming their estimate is right. Personally, I think it will hit even later.
     
  4. sfh thread starter macrumors regular

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    May 27, 2008
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    Sacramento CA
    #4
    I think that there have been a huge majority of people that have been in a holding pattern when it has come to finances. Especially in the housing market. it seems like once the election is over people will have a better idea of what may happen so they will move one way or another
     
  5. nanofrog macrumors G4

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    May 6, 2008
    #5
    No, I don't think there will be any quick turnaround for the current economic situation.

    It took time for the mess to build, reach an artificially increased plateau, and finally begin to come down hill. I don't think it's hit bottom yet. :(
     
  6. bradl macrumors 68040

    bradl

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    Jun 16, 2008
    #6
    Agreed. It took at least 3 years for the economy to bottom out between '29 and '33. Keep in mind that FDR wasn't elected until '32, and didn't take office until '33. Things started to turn around for the most between '35 and '36, when FDR's programs from the New Deal really started to kick in.

    Comparing that to today, it's safe to say that the problems now started at least a year ago, if not longer. It's going to take about as long as it did during the Great Depression/New Deal to get things back to the way they were.

    It is absolutely sick and scary, the parallels between now and 70 years ago.

    BL.
     
  7. nanofrog macrumors G4

    Joined:
    May 6, 2008
    #7
    I actually think it goes back further this time. It just took longer to hit, due to monetary management by the Fed.

    From what I've seen, most would likely point to the Gramm-Leach-Bliley Act in 1999. It certainly made for political ammunition by the GOP, anyway. Personally, I think it goes back even further. Specifically, to 1982 with the passing of the Garn-St. Germain Depository Institutions Act, which allowed for Adjustable Rate Mortgages. Not to mention the S&L scandal. :rolleyes: ;)
    Absolutely. :(

    We can thank the moronic politicians who didn't bother to give history a second thought on this one. :rolleyes: :mad:
     
  8. aethelbert macrumors 601

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    Jun 1, 2007
    Location:
    Chicago, IL, USA
    #8
    I don't see this as another great depression, but I don't think that dumping lots of change and hope on the problems will solve anything.
     
  9. MacNut macrumors Core

    MacNut

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    Location:
    CT
    #9
    I always wonder why people get reelected, everyone was to blame for this mess yet they get voted back in. I would love to see a clean house and start from scratch.
     
  10. Beric macrumors 68020

    Beric

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    Jan 22, 2008
    Location:
    Bay Area
    #10
    The current economy is due to congress. The presidential election will have nothing to do with it. Congress has given Wall Street free reign to borrow money, both parties allowing it.
     
  11. Blue Velvet Moderator emeritus

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    Jul 4, 2004
    #11
    Nonsense. This has been building up for years, long before the current Congress.
     
  12. Beric macrumors 68020

    Beric

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    Jan 22, 2008
    Location:
    Bay Area
    #12
    Congress over many years has been building up to this. Notice the Democrats changed nothing to stop the failing Republican congress.

    Congress in general has been terrible. We need to fire them all and start afresh.
     
  13. nanofrog macrumors G4

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    May 6, 2008
    #13
    Such a total elected personnel overhaul would have to be done very carefully, but I wouldn't necessarily mind, so long as the personality and intelligence to do the right thing were to exist in each member. Obviously I would think this is implicit, but absolutely critical.

    Then toss the special interest lobbists out on their @sses, assuming that wasn't done first. ;) :p
     
  14. MacNut macrumors Core

    MacNut

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    Jan 4, 2002
    Location:
    CT
    #14
    And that is the problem with the system, you have guys who have been in there 30 plus years and they keep getting voted in and don't do anything.
    People have comfort zones, that or they don't really know the issues or voting records of their elected officials. I don't see any other reason why these crooks keep getting voted in.

    Voters are ignorant, they will vote the party no matter how good or bad the people they vote in are.
     
  15. nanofrog macrumors G4

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    May 6, 2008
    #15
    This is precisely why I'm a proponent of term limits. :)

    Of course, the "strings attached", would be that the replacement for the post may be just as useless. ;) :p

    I've come to the conclusion people are just too lazy to do the research into the candidates, don't even care, or are too stupid to tell the difference. :(
    Particularly when their idea of learning about the candidates is the biased TV ads. //Grr...
     
  16. MacNut macrumors Core

    MacNut

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    Jan 4, 2002
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    CT
    #16
    Connecticut just elected a guy who made his money off the stock market. How stupid is that. We now have a guy in Congress that did what we are trying to stop.
     
  17. nanofrog macrumors G4

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    May 6, 2008
    #17
    At best, they might be thinking he's another Joseph Kennedy, who served as the inaugural SEC chairman.

    The "Use a crook to stop other crooks" argument. Of course, they might be forgetting he became a major embarrassment just prior to WWII.

    Ultimately, I wouldn't bet on it ending well. ;) :p
     
  18. solvs macrumors 603

    solvs

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    Jun 25, 2002
    Location:
    LaLaLand, CA
    #18
    We're still going to be fashizzled, but now probably less so if Barry can pull a Clinton or Reagan (he wishes he could do an FDR, but who knows, he may surprise us).
     
  19. nanofrog macrumors G4

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    May 6, 2008
    #19
    We could use everything he can manage at this point. An "FDR Level Event" would be good right about now. ;) :p
     

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