The Obama - Clinton Disaster Message Board

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Politics : The Obama - Clinton Disaster

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To: Neeka who wrote (3345)	12/17/2008 2:21:19 AM
From: DuckTapeSunroof	Read Replies (1) of 103300

Re: "People do not want to go further into debt," Yes... for several recent years American's saving rate has been the LOWEST in the industrial world. (In fact --- once the unsustainable artificial 'financial crack' of the big mortgage equity withdrawals that mostly happened during the past four or five years is backed out from the government data --- the GNP figures for the United States averaged over Bush's eight years averaged right around just 1% or so... were actually zero once or twice. Some of the lowest national growth rates recorded in many years.) Obviously, what is happening now is that the 'consume 'til you drop' American consumer is beginning to try to actually SAVE a little - for the first time in years. It is both necessary and to be expected. Re: "no amount of govt money is going to solve this problem for the auto industry. Their only option is to file Chapter 11 and reorganize. Get leaner and meaner." Yes, I agree. The government can help (but ONLY in the context of helping a stronger, leaner/meaner revitalized industry re-emerge from bankruptcy AFTER bankruptcy SLASHES the companies unsustainable debt loads.)

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