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Author Topic: Election 2010: Hello to gridlock ... and goodbye to recovery?  (Read 26226 times)
LyricFox
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« Topic Start: November 02, 2010, 08:42:53 am »

(I suspect that after the new Congress comes in in January, I'll be revamping the news posting stuff.)


Hello to gridlock ... and goodbye to recovery?
Post-election inaction in D.C. probably won't bode well for the economy

WASHINGTON — Political gridlock is supposed to be good for business. If bickering lawmakers can't agree on anything, the thinking goes, they can't pass laws and regulations that make the economy worse.

So will the midterm elections, which are expected to leave Congress at least partially controlled by Republicans and squaring off against a Democratic White House, be a help to the economy?

Don't count on it.

http://www.msnbc.msn.com/id/39956799/ns/business-economy_at_a_crossroads/
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« Reply #1: November 02, 2010, 03:08:51 pm »

(I suspect that after the new Congress comes in in January, I'll be revamping the news posting stuff.)


Hello to gridlock ... and goodbye to recovery?
Post-election inaction in D.C. probably won't bode well for the economy

WASHINGTON — Political gridlock is supposed to be good for business. If bickering lawmakers can't agree on anything, the thinking goes, they can't pass laws and regulations that make the economy worse.

So will the midterm elections, which are expected to leave Congress at least partially controlled by Republicans and squaring off against a Democratic White House, be a help to the economy?

Don't count on it.

http://www.msnbc.msn.com/id/39956799/ns/business-economy_at_a_crossroads/

And I get the feeling that this is exactly what will happen.  And if the GOP takes control over the White House then the US will probably go into a full-blown depression.
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« Reply #2: November 02, 2010, 03:10:45 pm »

And I get the feeling that this is exactly what will happen.  And if the GOP takes control over the White House then the US will probably go into a full-blown depression.

Funny - having been recently downsized I thought we were already there!
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« Reply #3: November 02, 2010, 03:14:34 pm »

Funny - having been recently downsized I thought we were already there!

That depends if there is a difference between a "depression" and a "recession" and the latter isn't just an euphemism for the former.
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« Reply #4: November 02, 2010, 03:20:15 pm »

That depends if there is a difference between a "depression" and a "recession" and the latter isn't just an euphemism for the former.

Actually, I have felt we were already in a depression for some time - based on real unemployment, foreclosures, lack of credit available, the general business environment, and what the not so popular economists are saying.  I don't think we will ever get back up the the entirely false height we were at the last few years previous to the end of 2007.  I think the economy has retracted to the point of depression and will expand some, but not that far.  Any economy that is not based on real goods will always be fragile, and my hope is that we don't go that way again since it will only set us up for another fall.
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« Reply #5: November 02, 2010, 04:15:05 pm »

Funny - having been recently downsized I thought we were already there!

Even in the great depression, 75 % of the country was working.
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« Reply #6: November 02, 2010, 04:28:47 pm »

Even in the great depression, 75 % of the country was working.

Hence the reason I think we are there now - if you look at actual unemployed numbers and underemployed numbers - not just those filing for unemployment.
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« Reply #7: November 02, 2010, 05:30:12 pm »

Hence the reason I think we are there now - if you look at actual unemployed numbers and underemployed numbers - not just those filing for unemployment.

did a little googling.
I see your point.

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« Reply #8: November 02, 2010, 05:57:21 pm »

did a little googling.
I see your point.



I think it is less obvious because we DO have unemployment benefits, and the media is all over big business and wall street and the banks and doesn't give a f**k about the little guy.  And I had enough economics classes in college (accounting major required them) to actually understand what the economists are saying.

Reality, a lot of foreclosures are caused by unemployment.  Whether because the person paying the mortgage is unemployed, or because their business is making lots less money because of the economy.  Which is where the business I used to work for is at.
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« Reply #9: November 02, 2010, 10:00:27 pm »

Hence the reason I think we are there now - if you look at actual unemployed numbers and underemployed numbers - not just those filing for unemployment.

The unemployment rate is not based upon those filing for unemployment.

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« Reply #10: November 02, 2010, 10:49:15 pm »

The GOP has taken control of the House, and the Senate breakdown is still unknown.

**sigh** I'll be revamping the news posting categories in January.
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« Reply #11: November 02, 2010, 11:04:07 pm »

The GOP has taken control of the House, and the Senate breakdown is still unknown.

**sigh** I'll be revamping the news posting categories in January.

I think I'll be revamping my "move to Canada" plans.

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« Reply #12: November 02, 2010, 11:08:51 pm »

I think I'll be revamping my "move to Canada" plans.

Sperran

I'm not quite to that point, but I sometimes think the UK would be a better home for Randall and me (and since he was born there, it'd be easier). Honestly, though, I was glancing through some of the reaction and Eric Cantor Va-R was saying how the American people spoke loud and clear tonight, and all I could think of was we did that in 08, too, for all the good it did.

Our Democratic Rep lost tonight, but I've been expecting that. Living in Waco and having a Dem as a rep was very strange. This district is incredibly, incredibly conservative.
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« Reply #13: November 03, 2010, 08:02:25 am »

The unemployment rate is not based upon those filing for unemployment.



http://www.bls.gov/cps/cps_htgm.htm#unemployed

not really an answer to you, sailor, but rather, information.
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« Reply #14: November 03, 2010, 10:34:00 am »

http://www.bls.gov/cps/cps_htgm.htm#unemployed

not really an answer to you, sailor, but rather, information.

what she said.
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