Quote:
Originally Posted by RIROCKHOUND
I'd like to give it more than 6 weeks to see what happens.
Revisit this thread in August, after 6 full Months. If the economy has not shown any sign of improvement, then I'll start to believe you.
I voted for change, but had no illusions that the positive change would be before March 2nd... we were on a downward slide for more than 5 months, (I know the date b/c we pulled money out of the Market in Oct when the Dow went hit 9,500, in hindsight a smart decision, I wish we had done it at 10500, oh well). To start implying that everything needs to be rosy NOW is asinine...
The 1929 crash took 3 years to bottom out and the return to 1929 levels was 25 years! I know different economy, different times, but the timeline was not weeks or even months.
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RIRockhound, I'm willing to give it more than 6 weeks because I know in a best case scenario it will take much longer than that to even see signs of improvement. But, I think a lot of people who voted for Obama are going to start turning on him soon. He had many people believing that as long as he was elected, there would be instant improvement, and things have actually gotten worse.
A big difference between the 1929 crash and now is that we're in a global economy now. Our economy impacts other countries and vice versa much more than in 1929. Back then, we didn't export jobs and import products the way we do now. I know it's been beat to death, but we need to give businesses incentive to manufacture goods in this country.
As for bailing out companies, we can't let them keep throwing good money after bad like they're doing with AIG. There has to be a tipping point where some companies are allowed to fail.