So pitch your theory!

[valmom]

I'm not an economist, either, and I don't know much about the macro forces working all over the world. But I could see that our consumer based society wasn't sustainable. (I have been a great fan of sustainability in many things).

I went back to school 15 years ago to get into a high demand job (pharmacist) so I feel fairly good about staying employed. My SO is a police officer- likely to stay employed. I feel bad for people who aren't in sustainable jobs, but I think the contraction in non-essential jobs and services will continue until there is sufficient money and confidence for luxuries. I really try to support local businesses and local craft people and local food sources as my way of pulling back from the excesses of import cheap crap and send our money overseas.

 

[Hiedi]

As many of you know Jim Cramer declared the "depression over". Ooops, sorry that laugh came out didn't it?

But, there are many economists that agree with him that recovery is within six months.

Others however, are still proposing that we ain't seen nothing yet and a full out collapse is still immanent.

So, who do you think is right? And propose your favorite theorist or link!

Unfortunately, I do not have any formal education in economics; but maybe that is a good thing. Due to my lack of knowledge, I have to view this current economic crisis through the eyes of common sense instead. Since this recent crisis began, I have been trying to learn a little economics (on the fly). I never realized that economics could be so darn political, and there were so many schools of thought in this field. It seems as if the so-called economists can not agree on much of anything; that tells me they do not truly know what is going to happen in the future. For every expert that says our economy is slowly starting to recover, there are just as many experts saying things are getting worse. I try to get balanced information by reading many different sources. My personal opinion, I have always thought that our debt-driven (consumer based) economy was unsustainable, and that it would eventually fall apart. The foundation has been cracked for quite a long time, and now appears to be crumbling before our very eyes. Our government is trying its best to save a flawed system so they are exhausting their spending efforts (by either creating new money or borrowing it from foreign lenders), considering they are broke. My biggest concern at the moment is hyperinflation as a result of printing all the new money, or our federal government will eventually default on its massive amount of debt.

It's my understanding they don't actually print any extra money. It's all just on paper. I don't think they will default. As a matter of fact I think they will balance the budget by 2012. I think the top 2% will be doing a lot more than their share. However in the long run it will work out better for them.

Every rally in the stock market is a fools rally. Prices go up or down based on gut feelings. The high was artificial just like the entire economy. You have to hit a ceiling sometime. I think the only way to save the economy is to get manufacturing jobs back in the US. Tariffs on imported goods need to be raised. American companies that have other countries make their products and sell them here need to be treated as foreign companies and pay the same tariffs. NAFTA is the worst thing the government has ever done to this country.

Yeah, I think in many cases, they just add some zeros to an account or something to create the new money. It is mostly computerized; but basically, it is the same as printing money. Even if they balance the budget, which I don't think will happen considering all the government spending and unrealistic expectations, what about the 11 trillion of national debt already accumulated?

 

[Beekissed]

I've often wondered about that......money...it has no REAL value and it hasn't been backed by the gold standard for how long? Even if it were, why, oh, why is gold worth anything? You can't eat it. It has some practical uses in making a few small components on machines, I'm sure. BUT...is it really worth anything? Is this whole system like the Emperor's new clothes? If someone says money has value, then PING! it has value!

Who created this whole gold is precious thingy? Seems like the earth is still putting gold out of the hole in the ground, so its not that rare and precious. Even if it were more rare....its metal. Its too soft to plow with or make a knife blade that will hold up.

It has always puzzled me how we can buy things with a piece of green paper. Just because someone says it has value.

So, I could definitely see how the whole economy, collapse of the dollar, etc. could just be fixed by tweaking a few numbers in a computer somewhere and saying~Yep, we have money in the bank...let me show you the paper!

Its all smoke and mirrors.......

 

[On Our own]

I prefer people who have not been formally "educated" in economics, because the field is so ripe with balderdash that I feel like most have completely lost touch with reality. People are vague emotional creatures and we don't react "logically" to money. Ergo the "market" will not be logical.

Here Bee: (and everyone else)

http://www.youtube.com/watch?v=qIxhsF6JLEA

This is a short version of how money is created in our system. Once you see what they do you'll get rid of your greenbacks and go buy more chickens!

 

[Wifezilla]

http://www.theonion.com/content/radio_news/norway_returns_to_pillage

 

[Big Daddy]

When it comes to economics the old saying about opinions really applies. All you can do is try to follow Dave Ramsey's perfect lifestyle theories. I wish I had a paid off mortgage instead of a 99 Suburban.

 

[me&thegals]

One thing this economy has done is cause me to take extra $ and put it into things to feed my family (instead of savings or investments). So, this year we will have about 200 meat and laying chicks, some turkeys, bee hives and a bigger garden than ever. THAT feels pretty secure to me right now.

Plus, it IS spending $ in our economy. Maybe some (or a lot of) spending will shift from luxuries to necessities. Maybe more garden seeds, chicks, animal food and other things like that instead of diamonds, expensive cars and other luxuries.

What I would love to see is a huge greening of our economy. Get manufacturing back in America, but put it in solar panel and wind turbine development. Get massive brain power working on energy efficiency, mass transit and other green projects. It would create jobs, help work on our natural resource issues, improve foreign relations, and other benefits.

 

[Big Daddy]

One thing this economy has done is cause me to take extra $ and put it into things to feed my family (instead of savings or investments). So, this year we will have about 200 meat and laying chicks, some turkeys, bee hives and a bigger garden than ever. THAT feels pretty secure to me right now.

Plus, it IS spending $ in our economy. Maybe some (or a lot of) spending will shift from luxuries to necessities. Maybe more garden seeds, chicks, animal food and other things like that instead of diamonds, expensive cars and other luxuries.

What I would love to see is a huge greening of our economy. Get manufacturing back in America, but put it in solar panel and wind turbine development. Get massive brain power working on energy efficiency, mass transit and other green projects. It would create jobs, help work on our natural resource issues, improve foreign relations, and other benefits.

You'll get your wish. At least till the pubs get back in. Then they'll take down the solar panels and stop the turbines. Cost too much not enough pollution. Like Reagan did with the solar panels on the White House. It's sad when people ignore science.

 

[Carolyn]

I don't know what the answers are, I have decided that I need to take care of my own-- We are prepared for a rocky rocky road, which is paying off for us now as DS was laid off and jobs are hard to find. His family is doing ok but only because we are prepared. Carolyn

 

[Wifezilla]

I am one class away from a degree in solar engineering (car accident stopped me from graduating and the college no longer offers the program).

During the Reagan years, solar was NOT ready for prime time. All kinds of wacky solar set ups were being installed just for the sake of the tax credits.

Solar has come a long way. Heck, I just bought some really nice solar powered LED yard lights. But back then...unless you were building passive solar in to new construction, it was a serious waste of time and money.