Is the US economy poised to make a major comeback in 2013?

[BoberFett]

LOL, techs thread.

 

[Pr0d1gy]

Absolutely it is. I know my wife and I are preparing to make several large purchases next year so we're doing our best to help out. ~_^

 

[mect]

I hope it is, regardless of who wins the election. However, my predictions are no better than the flip of a coin.

 

[Anarchist420]

No, it will be worse because of the coming war against Iran and also because the existing problems will just keep making things worse.

Obama and romney absolutely refuse to allow society to be any more free than the man in the moon. They won't cut the corporate welfare, the patents, or the regulations, they won't cut the easy money policy, they won't cut the military spending, they won't cut taxes the right ways, and they won't do means testing.

 

[Pr0d1gy]

No, it will be worse because of the coming war against Iran and also because the existing problems will just keep making things worse.

Obama and romney absolutely refuse to allow society to be any more free than the man in the moon. They won't cut the corporate welfare, the patents, or the regulations, they won't cut the easy money policy, they won't cut the military spending, they won't cut taxes the right ways, and they won't do means testing.

If we go to war with Iran we won't have an economy anymore.

That said, I don't disagree with what you said in the 2nd paragraph.

 

[PJABBER]

Last summer, when Greece was just starting to get on our tv screens, I remember reading reader comments at London Banker blog website about how they (Europeans) were in better fiscal condition than U. S. and how you don't solve a debt crisis with more debt.

I think their original plan was 5 years of harsh austerity to get their debt loads back to sustainable levels, but the financial markets wouldn't let them. Greece was never going to be able to pay off it's debts (just a matter of when formal default occurs), Spain I think initially seemed like it could be solved with growth, but now may become another Greece (can't pay and PSI / bond subordination and / or OSI), Italy is a very wealthy country that has the resources to solve it's problems, just not the political will.

Seems like they've been reluctantly doing just enough to avert the crisis immediately at hand, then trying to kick the can down the road further till the next immediate crisis that they can't punt presents itself to them.

Snip, snip, snip.

I just left Europe and all of what you post is in play. The uncertainty is palpable.

While Europe is a lesson that is available for all to see here in the US, we habitually ignore what is happening across the Atlantic and the Pacific.

As other posters have noted, if Obama The Post Turtle remains in office we can expect more of the same continuing deterioration that we have experienced thus far. I would add here that I believe it will further deteriorate because a certain amount of hope remains in the business community that Obama and pals will be removed. If it turns out that he is re-elected, all confidence of a change for the better evaporates and the death spiral accelerates.

A777pilot just above offered up some likely changes that would happen should Romeny/Ryan be elected. Along with that result, we can expect that the US Senate and House would have Republican majorities and would support their economic plans. A welcome widespread removal of job and economy killing Democrat appointed bureaucrats would also occur at the federal level, so transitions would happen quickly.

For convenience -

First I would start my turning the oil production loose. I would start to build nuclear power plants. I would turn to coal and natural gas industries loose.

I would have a tax holiday on all funds returned to the USA.

I would lower taxes on businesses and more importantly I would reduce greatly the regulations that are killing small businesses.

I would get rid of BoboCare and replace it with a national goal to greatly increase the number of doctors and health care professional.

Would these moves, along with monetary policy change, provide sufficient traction for a significant reversal?

 

[OneOfTheseDays]

I hope the GOP suffers a miserable defeat so that when Obama wins reelection he has a powerful mandate to start making the broad sweeping changes that must be done. Simply gridlocking Congress is not the best way to kickstart a recovery.

 

[woolfe9999]

I hope it is, regardless of who wins the election. However, my predictions are no better than the flip of a coin.

I agree with both propositions here and would not trust my own prognostications or anyone else's. I would add only that I think the OP is correct to place emphasis on what is going on in Europe as a principle driver of what happens here. It's likely not a coincidence that the surging job growth we saw early in the year leveled off when things got worse in Europe. The problem is that predicting what happens in Europe is difficult to impossible.

 

[mshan]

Another round of Chinese stimulus may be in the works: http://seekingalpha.com/article/802681-crouching-tiger-hidden-profit

Greece: http://www.zerohedge.com/news/germany-has-reached-its-limit-greek-aid (August 20)
http://www.zerohedge.com/news/germany-has-reached-its-limit-greek-aid

 

[a777pilot]

Beginning at noon, 20 JAN 2013, this nation will get the best stimulus it could ever ask for.....the end of the reign of errors by Bobo, the Post Turtle.

 

[Gigantopithecus]

No. The average American is too stupid to manage their own household finances, how do you expect their elected leaders to manage a national economy? Wholeheartedly agree with Engineer. The race to the bottom is long and grueling.

 

[soulcougher73]

I vote no because nothing has changed. Still same bad policies in place.

 

[cybrsage]

If we go to war with Iran we won't have an economy anymore.

 

[Pr0d1gy]

Iran is the 2nd largest exporter of foreign oil to a little town we call China. If you think China is going to let us walk in there and steal their oil then you have another thing coming. You people who think attacking Iran is a joke, like Iraq seemed to be, need a serious reality check.