tag:blogger.com,1999:blog-53246864840716464.post7804870771303736861..comments2024-02-29T00:46:38.800-08:00Comments on Washingtons Blog: Krugman: American Economy Will Not Recover for a Long TimeUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-53246864840716464.post-4377765224491330212010-01-17T14:44:53.236-08:002010-01-17T14:44:53.236-08:00Jim Flynn: thanks for a dose of common sense. Thin...Jim Flynn: thanks for a dose of common sense. Things look pretty damned grim out here in the hinterlands. The roads are empty of cars driving to work. Business are closign left and right. Empty building predominate in our town. People still are losing their homes, and there are no buyers for the houses that sport 'for sale' signs. I don't see this economy recovering in my lifetime, let alone in the next year or so. We are screwed.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-10311474594461767632010-01-05T20:27:39.306-08:002010-01-05T20:27:39.306-08:00The recovery can't really start until the majo...The recovery can't really start until the majority of the damage has been done. We still have the consumer credit bubble (and potential revolt), the commercial real estate bubble (and concomitant refusal of large institutions to mark to market), and the pending collapse of one of the Final Four - probably Citibank.<br /><br />Sometimes tsunamis are a succession of waves. Sometimes the Earth keeps cracking and shifting under us. We're a long way from out of the woods.<br /><br />As a percent of GDP our military-terrorist-industrial complex is absurdly out of control compared to every other nation on Earth. The interst on our federal debt (run up by Bush) will be the second biggest item followed by entitlement programs. I don't see where this plus free rides for billionaires leaves any conditions for a new round of small business frowth.<br /><br />We need to adopt the old middle class habit of pay-as-you-go with limited credit usage. The hangover from the Bush Binge may last until 2025 or so.Jim Flynnhttp://www.lifestreamdesign.netnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-26353258008304429612010-01-05T18:35:44.016-08:002010-01-05T18:35:44.016-08:00When I read Mr. Washington's post on "Is ...When I read Mr. Washington's post on "Is Cheney that Bad"? I was thinking exactly the same thing. This website and mike's website are both excellent.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-45927453114525547152010-01-05T13:25:19.015-08:002010-01-05T13:25:19.015-08:00Hey George, don't know if you know of his work...Hey George, don't know if you know of his work, but Mike Ruppert's Blog is (along with yours) one of those most informative sources of info on the Web. You both might have differing views on what is causing the current crisis, but I think you might enjoy his work (crossing the rubicon and A Presidential Energy Policy) here is his blog,<br /><br />http://mikeruppert.blogspot.com/Anonymousnoreply@blogger.com