Source for the above screen cap: http://www.bloomberg.com/apps/news
I meant to post about this a couple days ago when I first saw it. It's like Bush is paying attention to our failing economy in time-release caplet-form.
Seriously, everyone's talking about it already--some of us have been talking about it for years.
I don't think all the jobs in the world added will help when the US government borrows $1 trillion for wars. That kind of borrowing causes some major inflation--as in, it drives the value of the USD down. I don't see how giving more people low-valued dollars will help things.
So, now, with talk of the Fed dropping interest rates by another half-percent, one wonders if they're not just making it worse--especially since they've already dropped rates a startling 1.25% in the past couple weeks and that hasn't helped.
I think it might be time for America to stop spending money abroad, both in the form of wars and other expenditures, as well (like foreign aid to countries, sadly).
I think our economy is spread way too thin to continue to support itself. If some new solutions are tried I see things getting worse before they get better.
Of course, I'm just a guy with a blog. What do I know?
I'm just glad we have the eagle-eyes of our beloved leader, George W. Bush, on the job!
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