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I think we will get there. The nice thing about our economy is the fundamentals are strong (McCain was right) and we have bent but not broken. The core of what we built is still there and we face a rising growth from countries that do not have these cores. People don't feel strong investing in China unless they are connected politically. We have some political gamesmanship, no doubt, but we don't have an entire chunk of the population that would have their business instantly face new competition and would soak up if the politics shifted completely like it would in China or India.
That is true, right now we are stuck in a cyclical trap. We still have businesses worried about the future and unlikely to hire because of fear of a dip in demand, which of course means that people are less likely to demand things.
But I think once people start feeling normal again things will pick up. Which I hope will happen and we can hum along.
The economy at this point is a confidence game. From an economic perspective we are moving in the right direction but we need people to believe and see that. The only way out of the catch-22 is for something to click in people's minds and it seems like it is starting to do so.
Interesting read, Glenn Beck loves to villanize him but Soros is a smart man.
All politicians flip-flop from time to time; but Mr Romney could win an Olympic medal in it (see article). And that is a pity, because this newspaper finds much to like in the history of this uncharismatic but dogged man, from his obvious business acumen to the way he worked across the political aisle as governor to get health reform passed and the state budget deficit down. We share many of his views about the excessive growth of regulation and of the state in general in America, and the effect that this has on investment, productivity and growth. After four years of soaring oratory and intermittent reforms, why not bring in a more businesslike figure who might start fixing the problems with America’s finances?
I will PM the rest of the article.
WHEN Mitt Romney was governor of liberal Massachusetts, he supported abortion, gun control, tackling climate change and a requirement that everyone should buy health insurance, backed up with generous subsidies for those who could not afford it. Now, as he prepares to fly to Tampa to accept the Republican Party’s nomination for president on August 30th, he opposes all those things. A year ago he favoured keeping income taxes at their current levels; now he wants to slash them for everybody, with the rate falling from 35% to 28% for the richest Americans.
Another interesting article that I read from The Economist a few weeks ago was titled "So, Mitt, what do you really believe?".
I don't know if you need the subscription to read it or not. But I can copy and paste it to you if it does.
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