Romer: Economic Crisis a Wake-Up Call for Americans

Palin...?

What in the world does the bible have to do with capitalism and the constitution? Have you ever read either?

Either the earlier post is a joke or intellectual prowess in America is at an all time low.

Vote Palin-Romney for their rightwing conservatisim

In 2012 we must vote for Governor Sarah Palin to become our President and Governor Mitt Romney to become our Vice President starting on January 20, 2013 , because of Governor Sarah Palin's and Governor Mitt Romney's superior right wing conservative philosophy. Governor Sarah Palin's and Governor Mitt Romney's superior right wing philosophy is shown in that they are pro God and Christianity, pro life, pro marriage; pro guns-second amendment, pro low taxes, pro low government spending; pro small government, pro unintrusive government, pro traditional and Judeo Christian values; pro Bible reading and prayer in our public schools, pro Christians schools and private education , pro private and free enterprise; pro military spending, anti arms agreements with Russia, pro creation; pro nuclear, pro conservative supreme court judges, pro American sovereignty; pro capitalism, anti communist, anti socialist; conservative on immigration, and pro constitution

So

Did you see a reduction this 4th-of-July in the amount of money "blown up" on consumer fireworks? That indicator alone is worth looking at.

Sarah Palin should replace Michael Steele

Since Governor Sarah Palin is stepping down as Alaska Governor , Michael Steele should step down as GOP National Chairman, and Sarah Palin should replace him. Replacing Michael Steele will be good for both Sarah Palin and the Republican Party. Replacing Michael Steele will be good for Sarah Palin by giving her further administrative organizational , and executive experience ; and nation wide political leadership experience which will all be helpful in 2012. Sarah Palin replacing Michael Steele will also be good for the party by giving it a more conservative leader, who is more grassroots oriented and more in touch with the party base. Sarah Palin is also more in touch with the average American as well.

Savings and Thriftness

Ben Franklin really hit a home run in declaring "a penny saved is a penny earned." We "materialistic" Americans have never heeded Ben's warnings let alone the Book of Life's proverbial teaching of "...neither a lender nor a borrower be..."

We Americans need to unthaw from our "materialistic "keep up with the Jones, Smiths et al" and "refreeze" becoming no-nonsense savers valuing thriftiness and living within our means.

If we cannot pay cash, then we must rethink whether the purchase is a "need" instead of a "want," which it is usually 99 and 44/100% of the time.

...the starting place for saving is our President, his staff and our Government must set the example by balancing our nations budget and quit trying to tax and spend its way into prosperity. Finally, the credit card companies must quit making "going into debt" appear desirable.

Too Much Saving

The Cause of the economic crisis is not too few savings but too much, as exhibited in Greenspan Conundrum and Bernanke Global Saving Glut:

Read the article:

"Plea for a New World Economic Order."

Chapter II:

Greenspan Conundrum and Income Wealth Disparities.

http://blog.yield-curve.net/2009/06/plausible-alternative-specific.html

Not a bad thing maybe...

Growing up in the 1950's and 1960's, we did save more, did not expect huge returns on those savings, lived in more modest homes, our parents drove more modest cars, if going to school - we rode our bikes to school or took the bus, our parents did not drive us everywhere, we did not have a closet full of designer tennis shoes - one for tennis, one for school, one for basketball, one for running, one for a "fashion statement", we worked part-time at very un-glamorous jobs while going to school.

Parents read to their children, we played board games, cards, and ran in the sprinklers when it got hot, we made forts by flattening the grass in the orchards under the trees, we rode our bikes to the store for a popcicle, we mowed someone's grass if a baseball went through their window, we climbed trees, went roller skating, read books all summer from the library, had chores to do before we could go out and play, and our parents sat through some miserable performances of famous plays. I was on a swim team. My brother was on a baseball team. We all watched TV for a few hours in the evening - and discussed the news as a family.

The most exotic gadgets we owned were a black and white TV with glowing tubes in the back, an "etch a sketch", an electric typewriter, a princess phone, a portable radio for the beach or pool, and a little record player.

Our parents owed little or nothing on their house,car payments never went longer than 12 months, only department stores had credit cards, debt was considered something you wanted to get rid of, not build up more, bankruptcy was considered shameful, people would do any kind of work to avoid welfare, and fathers were typically the only adult working. Moms stayed at home and raised us - full-time. My dad chain-smoked, we wore no bicycle helmets and ate cakes with pink icing.

Somehow - all of the kids in the family went to college - that we got scholarships for and worked to pay for ourselves. No drop-outs or quitters, no excuses. Al of us have travelled overseas since then and tasted all that life has had to offer. So all this "deprivation" did not scar our adult lives.

Maybe going back to recapture some of these things would not be bad for this country. The economy is making a major correction. The market economy is giving us a message - STOP the EXCESS!

huh?

Romer says "the economy should start expanding again soon"... She gives alot of credit to "**the Fed**", wow she must be smoking hash; and thus this piece by Kenny Walsh is therefore rubbish in my opinion.

Reality check... The FED was one of the single largest contributing factors to this crisis, and the economy is a flaming 747 spiraling towards the ground w/o a captain. I'm tired of all the false heros, rosey predictions, and other lies from our globalist media controllers.

The great depression took several years to get into full swing, we're about half way through the phase of reaching the full scale depression. As things continue to deteriorate just keep listening to these liars and you'll become the slowly boiled frog.