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Monday, July 19, 2010

THE ECONOMY:WHATS NEXT?

THE ECONOMY IS STAGNET AND HEADED TOWARDS DEFLATION:
The first big mistake made in rescuing the financial system as The Detroit Times pointed out was in bailing out the banks instead of letting them fail and waiting until things bottomed out before helping them. But because the incomptents that caused the collapse werent forced out they are still calling the shots at the banks they caused to fail. Does that make sense?
Milton Freidman an economist whose theories were thought provoking but were never practical enough for use in the real world was the theorist behind Bernakes rescue plan that has now obviously gone no where.
Now if the economy fails again which is very likely there wont be a cavaliary to come to the rescue. The gunpowder was waisted on the first bailout.
So for the forseeable future there will be a weak econmoy.
DR.OBAMA LOOKS VERY PRESIDENTIAL: As student conucil president maybe but certainly not as a sitting U.S president. The American people are such potlickers for voting for him. They elected a kid whose a weak decesion maker.