discoman

Given the many years of the incompetent policies of former Federal Reserve Chairman Allan Greenspan, and the VooDoo economic policies of the Regan era.
There is a Economic Time bomb that is still ticking with regards to the American economy and the economy of the entire World.Our financial systems
are linked today more so than at any other time in the history of civilization.
Misguided and incompetent economic polices of recent Political and Federal
Reserve, and government treasury officials, have created this Economic Time
bomb,and they have in fact activated it.The Economic Time Bomb has not detonated yet.It is still ticking.Present Governmental policies of Tax cuts,in
real world times of increasing cost for many goods,commodities, and services,
has just added more explosive capacity to the Economic Time Bombs overall
destructive effect.If immediate measures are not taken to defuse this Economic Time Bomb now,our Children and we our selves may be headed for the worst
Economic catastrophe that the America and the World has not seen since the begining of civilization.

AzTeK

Basically the whole Fiat-money system adopted by almost the entire world is a catastrophe waiting to happen. It offers many advantages, no doubt, specially the ability of governments to steer themselves out of recessions/economic troubles, like presented in times of war. But the impact of negative decisions with this system is tremendous as well.

Inflation for example is a huge problem the world is facing today. Inflation can only occur if the money supply increases faster than the rate of productivity/economy. Such an increase in supply without the parallel increase of production is only made possible by the Fiat-money system. It takes an almost consistent flow of good decisions to keep this system working smoothly, and only a couple bad ones to completely derail it. With a gold- or silver-standard, it's almost impossible to screw up though. I'm starting to wonder if it is really worth the risk.

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discoman

I agree aztek. If current policies are continued, and central bank leaders continue their short sighted polices,we will
eventually find our countries economies
severly damaged.The government of the United States can not implement Tax cuts,
in a time of increased costs for goods
and services.The U.S. government will eventually have a huge deficiet if this misguided policy is continues.U.S. government officials must implement an
immediate Tax increase now to stave off
any future revenue short fall.

indvdlthnkr

Basically we're fucked. With baby boomers rising, social security crashing, the dollar falling, and the Iraq war continuing, and global climate change becoming a larger issue, the stress on the taxpayer will soon skyrocket or the the largest economic disaster will rain down upon us.

discoman

Don't forget the 2 Trillion dollar outstanding debt we will soon have to pay
to the foreign governments that have purchased our Federal Treasury notes.These Federal financial instruments will be coming due in about the next 10 or 12 years down the road.Where is the money going to come from to pay these foreign goverments ,if we keep cutting taxes.?This is part of that Economic Time Bomb that I was discussing earlier.

AzTeK

Generally speaking, in times of trouble, it's better to try and grow out of them instead of save yourself out of them. In other words, the key goal of the US should be to keep economic growth robust - this can be done either by lowering taxes or, and in my view more effectively, by reducing trade barriers. The current measure by the Bush administration to excercise even MORE control on the markets is exactly what the market does NOT need now.

Raising taxes generally leads to economic growth slowing down, and eventhough the federal government needs money, the US cannot afford for its economy to further slow down. It's already close to flatlining as is. Stopping the pointless war in Iraq would probably if not surely free up enough ressources to get by without tax increases, and I believe that should be the goal.

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discoman

But if the government cuts taxes now,and inflation continues to rise,the United States government will be at cash shortfall at some point in the future.Now is not the time for Tax cuts!.

indvdlthnkr

There is almost no time left to try to grow out of these problems. Immediate influx of funds is needed and the cutting drastically of governmental spending is also needed. If you took our defense budget today and made it for welfare programs no one would be poor in this country or many others. (Not saying this is completely logical)

The Iraq war needs to be stemmed immediately. Eliminate all the other reasons for or against pull out but instead the mere economic stress on our nation. All of that spending should be moved towards eliminating the national deficit and stimulating the economy. Also finding alternative carbon neutral fuel would be a good investment. Stupid biofuel proponents. What a fucking waste of time and money.

discoman

American Economic policy must be focused on reducing the federal deficeit,
increasing revenue now!.Otherwise it will be an economic nightmare and catastrophe in a few more years!.

Amateur Atavist

Yep.

America is just a neighbour now on the world economy and you'll have to try to get your house in order as this man says. You can't continue eating from the cabbage patch of the man next door. Plus you're throwing away resources on a needless war half way across the Earth which has possibly ruined a foreign country to boot - go back home and sort your business out there - you have made an industry out of producing dollars for a throbbing budget deficit way too big for you now don't tell me you're going to try to hyperinflate your way out of it?

You need to start exporting machines now that the Euro is too strong - American expertise is what you have a lot of and you should export that. Fiat currency systems are flexible at the end of the day - the Plaza Accord in the eighties stabilised some fine world currencies and something similar is not unthinkable today.

If oil was never a problem alternative energy technologies could still boost your economy in terms of research, manufacture, export, growth, activity. Fiat currencies are gone as the Gold Standard is - there's the Pollution/CO2 standard coming in where greenbacks could really be green.