Finance ain't my thang so I'm delegating. This is directed at our CFO, Jim L (who will be bullish) and anyone else that cares to comment...
Admit it, we're heading into a recession?
Oil-profit laden Arab countries are buying the debt of our banks. How is this good?
We're funding the war in Iraq (and everything else) with Chinese investments. How is this good?
If we keep dropping interest rates like we did five years ago, what's to prevent another bubble? Wont it just create another rush to refinance or grab home equity? Thus kicking up home depot stock for a short time until the check comes do?
Roman Empire reference: how do we pay for all of our wars? While cutting taxes? Guns or butter? I'm starting to be serious about this now. Talk of empire was cheap 7 years ago, but we've really got to re-evaluate the situation. Ron Paul has a point, in my opinion, that we just can't afford our colonial impulses.
Jim, I'm going to need a better answer than "cut the corporate gains tax". I feel we're in desperate times.
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We quit paying for wars with blood, guns and tanks. We learn to fight wars with words, discussions, and voters. We quit giving tax breaks. No business anywhere gets a tax break, no matter how small or large the business. Companies get a huge fine if caught hiring undocumented workers - almost shut down. We teach our pre school, elementary, middle and high school children differently. We do a better job and taking care and educating our American children. You can't call yourself an American company when most of your employees are overseas.
I agree with most of what Anonymous said, but I would add fully subsidized college educations for any American who wants it as well. It's time to stop thinking about the economy in the short term and start focussing on what we can do to strengthen our economy for the long term, and NOTHING has been proven to do that like education.
So pete, you're saying "universal education?" "College educations for any American who wants it." What tax pool would that come out of, Federal, State, County, City, Property? And would that be for just 4 year degrees and under? Can we also add higher teacher salaries for Elementary thru High School? And since we are on the education wagon, how do we begin to turn around idea that catching a football is more important than learning how to add & subtract numbers?
Steve, sorry I haven't weighed in yet, but as you might imagine, the phone lines are a burnin' will chip in asap
While I was actually fishing for some financial answers to questions that have got much worse since my original post, I like the education vein.
I'd like to see more trade schools. I don't think all people need or want a four-year college degree and all that entails. The German girl I mentioned in an earlier post was telling me a little about Germany. Yes they have "university" as they call it, but there is also the apprenticeship track where you go to school a few days a week and do OJT a few days. What we have that passes for trade schools are ripoffs according to friends that have attended such institutions.
If you want to do nothing but be a computer tech, why do you need 16 hours of history and literature and the like. Computer techs are well paid mechanics of extremely complicated cars.
As a computer tech at a University, I can assure you that not only is it unnecessary to have 16 hours of literature and history, but also that it's unnecessary to have a degree in computer science to be a computer tech. You've hit the nail on the head regarding being a mechanic, except for the "well paid" (in my case) and "extremely complicated" parts.
Designing and programming computers is pretty damn complicated. Fixing the hardware and/or software problems isn't quite so bad.
anonymous said...
So pete, you're saying "universal education?" "College educations for any American who wants it." What tax pool would that come out of, Federal, State, County, City, Property? And would that be for just 4 year degrees and under? Can we also add higher teacher salaries for Elementary thru High School? And since we are on the education wagon, how do we begin to turn around idea that catching a football is more important than learning how to add & subtract numbers?
It should come from federal taxes, and should cover any higher education, including the trade schools that Steve mentioned, and graduate school for anyone who's capable/willing. And, yes we should add higher teacher salaries for all levels except for Head Start, which studies have shown has little effect.
How do we pay for it? How's about cutting the budget of the DoD? $439 billion should be MORE than enough to defend a country the size of the United States. (Defend, not also fight two separate wars and threaten a third.)
Regarding the football thing, IMO that's a problem that exists only in VERY LARGE school districts. My high school's football team SUCKED, and even the rare sport where we fielded a decent team most definitely took a back seat to academics.
51/49 yes recession, but not a certainty, if so more cold than flu in my models.
It's not good or bad that they are buying our banks. At least the money is coming back here. The banks got themselves into this mess and the world is becoming increasingly global anyway. Ultimately we have to wean off of foreign oil. BUT, in the meantime, we want them to have a stake in our success. It gives them motivation not to support terror.
Lower rates will cause a rush to refi- but loan standards are tougher now and you can't refi if you have no equity. They have to drop rates to get banks healthy again, so that OTHER loans, construction, etc will be made, which helps small business/jobs etc. Beyond that it will keep SOME people in their homes, those that are paying, and we DO want that. With 10 months of inventory out there already, we need anyone who can be helped, to be helped.
Roman Empire:No easy answers here, other than it's conceivable that at some point, ther could be respite. Probably not. My opinion is that, once again, that we need to wean off of foreign oil and develop other energy. It takes a tremendous amount of time, but has to be done. The minute we are off, we can let them blow each other up to their hearts content.
Finally, we need education standards that are higher, but this comes from parents first, and for the most part, is a losing battle.
We also need to cut corporate tax rates!
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