Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (148421)	10/29/2010 6:02:35 PM
From: Sam	Respond to of 543351

I understand your point about the permanent loss of manufacturing jobs and about housing and about how business need to be efficient. I've made those points before. And I never said businesses should be forced to hire people. Of course not. What I was saying that was that people are blaming Obama for things that he can't really control. And that no one can really control, at least not at this point. We allowed housing to become a bubble, which created an huge imbalance in employment in that sector and the economy at large. And it also created a lot of debt in banks, businesses, and among home owners that should never have been created, and thereby distorted many, many balance sheets. It is going to take a lot of time to restore balance, both in employment and in balance sheets. It isn't clear how to do it without lowering a lot of standards of living and a lot of businesses taking some whopping losses (especially, of course, the banks--who are still refusing to do it since it will reveal how irresponsible they were, and they are still getting bailed out under the table by getting free money from the Fed)--do you think people are going to be OK with that? Or are they going to blame the politicians who happen to be in office at the time?