OK I have a name for this economic downturn. The Great Deep-e-recession.

[The Buddha]

Geitner said yesterday that if we dont do this and that (like give trillions directly to the banks execs etc etc) we will have a "deeper recession".

I am predecting it will be greater than that Deeper recession and I am calling it the Great Deep-e-recession.
Cool.
Buddha.

[bettingpython]

We are so screwed, even the CBO which uses Keynesian economic models agrees were screwing up bad by pursuing our current fiscal policy, but hey ya'll wanted change thanks for selling us down the river.

[The Buddha]

That is exactly why the printing presses are in high gear. The interest rate game is so over. The are yelling about borrowing too much, talking about Obama tax plan and borrowing our children etc etc all the while completely hiding the fact that they are printing $$$ in huge numbers.

It actually will keep the dollar artificially high till we have spent it (after all it should drop, but ont when we're holding it right) and we're selling bonds and Tbills enmasse to foreign currencies as well as paying for oil etc with it. Soon when the economy starts growing and we are ahead of this, they will release how much $ was printed in the last few years, and china and saudi and all others holding dollar denominated paper will be in for a shock.
We wont care, we will just have to start making the same crap we buy from china, but what is the problem with that I ask.

Print $ and hide it, sell bonds to foreigners spend both of those on the economy and declare that we printed this much ... tanking the bond values, buy the bonds back and go on our merry way.

China deserves it, they manipulated their currency to kill our industry.

Cool.
Buddha.

[bill14224]

If this doesn't prove the socialist left is out to destroy this nation, I don't know what does.  What makes it worse is the Republicans have abandoned conservatism as well. 

Ronald Reagan, where are you?

Buddha, what's wrong with that plan is our kids will NEVER be able to pay the interest on that monstrous debt.  It's taxation without representation at its worst.  It's inter-generational grand larceny.  Not only that, foreigners are already warning if the Obamination administration continues on this road, they will stop buying U.S. treasuries.  Your whole scenario hinges on foreigners being stupid.  They're not.

[The Buddha]

OK first of, if Obama is a socialist, and Bush and his side of the aisle are communists. They didn't abandon conservativism making it worse, they started this whole avalanche moving.
Obama is a milder tamer and more likeable (atleast for now) version of bush except for the right wing fanatics.
Every one of these problems as well as the solutions that are making these probloems bigger has been irreversibly (in this 2 month time frame we have had so far) set in place by bush or even earlier (clinton).
Obama has been handed a 1/2 sawn log, unless someone has invented a wood welder, the only option is to finish sawing ... however he has gleefully started sawing ... so its irrelevant that it is wood at this point, he never even checked if it was wood. Could ahve been steel and welding it back up could have been accomplished had he checked.
We and our kids are screwed, but I wont at this point blame Obama - yet. Bush gets a large share, followed by Clinton.

The solutions to the crisis are in my mind sounding like this.

You banks and financial institutions have been very bad, investing in cooked up assets and paying yourself huge bonuses on fake profits. We're bailing you now, and you better behave and not screw up more ... or else, we'd have to give you another 700 billion ... so watch it now.
They then go ... Really ... OK ...

Keynsian econimics has failed, so has the other one (printing $ ... they are trying that next) and eventually they will figure out that the only thing that can work is freidman economics.
In 1 word, Freidman philosophy is - The main function of government is to enforce contracts.
That is it.
You take a loan to buy a house. You default, you will go to jail, you will still work to pay off the loan and you will be charged for your jail cell and your food etc, you can allow the govt to rent your house out to section 8 etc or any other, they will pay you going rates for rent and till your debt is paid you repeat this day after day. if you are caught up with your backlog, you can leave the jail and return to your house where upon you can pay for it the way you originally signed up for. If you can prove fraud, your jail time will be served by whoever you can prove defrauded you, and who ever is deemed responsible.

Its free market. Share in the gains and the losses. That is what everyone is basing their life on. That is it. You're in it till its responsibly paid for.

That is the only thing that will work. Nothing else will. Our kids are being robbed because some clueless clowns though buying a million dollar shack is a bright idea.
Printing notes will in the short run make everythign more $$$ and still let the downward slide in house prices continue unchecked.
Interest rate manipulations already have failed.
In fact if we were truly communist that will be what happens. I actually really think that is the final goal. I hope it is. But you never know, they will do anything for votes.
Cool.
Buddha.