I agree with a whole lot of what you said.No, it's not.
Look, you guys are caught up in the political sport. Frankly, that's all noise. The bottom line is that the economic systems practiced in the western world for the past 30 years are unsustainable. Neither candidate is proposing to change that.
I'm not talking crazy let's-go-back-to-the-gold-standard stuff here, I'm talking about the fact that in the past 30 years wages for everyone but the top have stagnated. That's three decades of both Republican and Democrat control of the Executive, Congress, and Senate in various combinations, all with the same trajectory.
Those three decades have seen people with stagnating wages replace income with debt. Bubbles occur when the folks at the top figure out how to expand debt dramitically, and the burst when risk catches up to them and debt expansion stagnates.
The way out of this is a massive writedown of debt. A reset. That should have happened last during the financial crisis, but "too big to fail" trumped moral hazard. The bottom line there? A combination of massive campaign funding from the financial industry and the revolving door between major financial institutions, the Fed, and the Treasury made sure those that actually cause these bubbles and pops didn't feel any pain.
Have things improved on the financial side of the world? MF Global, Liborgate, JP Morgan Chase... all in the past year. You tell me.
Like I said, you guys are caught up in the sport of it all. You read a government report on unemployment, job creation, etc, turn it into a talking point, and move on. By the time these supposedly impartial reports are all revised away from their initial rosy numbers you've moved on. The reality is that this economy is fucked.
Anyway, I've ranted enough. Going out to have some drinks with my friends and soon to be fiance (shh... she doesn't know yet).
Peace to all of you!
And yeah, this thread focuses on the rather meaningless horse race, but at least for me, it's just for fun.
I do disagree with you on a couple of big things though -
- I do believe that there is a meaningful difference between the parties, I hate the both, passionately, but policy wise I can see a lot that set them apart.
- I don't think the US economy I fundamentally fucked, I think it's political system is. But if we ever sort that out, I think the challenges this country faces are very manageable, it's just that our politicians care mostly about getting elected, so at all times, you have half of our political system rooting for America to fail (and sometimes actively working toward it).