Is Permanent Recession the New Normal? Capital strike will continue until Obama is out of office

American Thinker ^ | 06/10/2011 | James G. Wiles

[Vaduz]

The Capital Strike will end when the Obama Administration ends
Indceed only a fool would invest when one never knows what slick game plan Obama will pull.

[GOPJ]

China and other nations are already challenging the dollar's status as the world's sole reserve currency. Revving up the printing presses at the Bureau of Currency will only make that result inevitable.

If the US loses reserve currency status, we'll become third world overnight...

[N. Theknow]

If the US loses reserve currency status, we'll become third world overnight...

Imagine how much gas and food would cost if we had to use worthless dollars to buy another currency before we could buy oil.

[GOPJ]

Imagine how much gas and food would cost if we had to use worthless dollars to buy another currency before we could buy oil.

Each American household OWES more than $500.000 - (individual share of US debt). Imagine paying for gas and food with a worthless currency AFTER paying our daily (taxes) share of the debt... with interest. Forever.

[Buckeye McFrog]

and Obama’s whole campaign will revolve around attacking the capital strikers as Greedy and Unpatriotic.

Atlas Shrugged is playing out before our very eyes.

[mjp]

Yet Professor Krugman is correct when he says that the Great Recession is caused by a lack of demand.

If there is a lack of demand which is associated with a lack of demand for labor, then, the cure is to allow free market forces to decrease average prices and average wage rates to an equilibrium point,where it becomes profitable to make investments and the demand for labor begins to increase.And then, the decline in prices and wage rates needs to continue until full employment is reached. If this is done with minimal government interference, recovery will happen faster.Not allowing this to happen will just prolong the recession.

[neverdem]

The dismal science, economics, is more instructive about the policies not to enact. Unfortunately, when the rats find themselves in a hole, they keep digging.

Bad Debt.

[Fred Hayek]

The EPA has accomplished its original mission. If it is to continue to exist, it should be at a minimal caretaker status. Enforce existing standards. Yet for the past decade or more, the EPA has been an agency searching for a mission, since its original scope has been accomplished. So it tries to create a new mission out of desparation by bad science and social engineering.
Please note that this assessment of the EPA can be considered “generous” by some on this forum, including myself.