ECONOMY: Will Bernanke Have Thee Answers?

Posted on June 14, 2011 by

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“The Debt Ceiling, Fiscal Plans, and Market Jitters: Where Do We Go From Here?”

The economy is not doing so well and I think we all know that. Not only do we Americans know that but so does a New America Foundation and Committee for a Responsible Federal Budget. There will be a conference held in Washington today. The name of this conference is “The Debt Ceiling, Fiscal Plans, and Market Jitters: Where Do We Go From Here?”. That leaves me with the question, where do we go from here?

Where Do We Go From Here?

That question has completely bewildered me because of the fact that no one is answering that question. And the thing about that question is… EVERYONE WHAT’S AN ANSWER SO GIVES US AN ANSWER, PLEASE! I don’t have an answer of where to go from here… I cannot even make an analysis or a guess at what the solution is to this issue or what the needed steps are to fix the economy. I somewhat feel like this deficit and economic crisis is so powerful that it’ll be nearly impossible for even our elected officials to solve this problem!

At this much needed conference today Federal Reserve Chairman Ben Bernanke will be the man opening thee event. Chairman Bernanke will open this conference with words about this economy we’re in today, the inadequacy of today’s economy, and how to reduce the national deficit. Also, admin members of congress are expected to show up. The admin members of congress include Gene Sperling, Director of the White House Economic Council, Senators Mark Warner (D-VA) and Mike Crapo (R-ID), members of the newly named “gang of 5” and House Budget Chairman Paul Ryan (R-WI).

What I Want To Hear At The Conference!

Below is a list of what I WANT to hear at this conference…

  • Really, how bad is the situation we’re in?
  • What’s congress doing to draw final conclusions and agreements on a budget deal?
  • What are our future fiscal plans?
  • What will we do to maintain thee economy once we get back on track?
  • What’s the government going to do about the radical spending?

Federal Reserve Chairman- Ben Bernanke

I don’t feel to confident about the economy in general. When you look at the graph “contributions to the percent change in the real GDP (Gross Domestic Product) in 2011″ from the BEA you see that the two biggest NEGATIVE contributions are government spending and imports. Government spending brought the real GDP percentage down by about 1.2%… what a shock, the CRAZY government spending has a negative contribution?! Also, the imports, had a negative impact of bringing the real GDP down about 0.7%. Hmm, so what could be a possible solution? STOP THE GOVERNMENT SPENDING AND STOP ALL OF THE IMPORTS. I can promise you this American government, China and their billions of plastic toys they send us daily will not help our economy! Our economy is all based around the GDP,  and if something hurts the GDP percent that’s not good. That’s why imports and government spending IS BAD.

If you look at the contributions that boosted the real GDP percentages  you’d see that exports is one of those positive impacts on the GDP and economy. That’s why I am so perplexed by the government. They rely on imports and big international corporations to supply America… but why?! Why rely on non-American products? America is such a great country because of our free trade market… the small businesses… thee American corporations. China copied America and copied our capitalism system, look where China is at, their economy is doing great because they’re making money from us! Why is our government trying to change what is so great about America? The greatness of America is the capitalism. Is all I think about when I hear or see the word capitalism is profit… profit… and more profit.

WATCH CONFERENCE TODAY, JUNE 14 2011, AT 2PM EASTERN TIME ON C-SPAN!

GRAPH LINKS (all from World Bank)

EXPORTS OF GOODS AND SERVICES

CURRENT GDP 

GDP GROWTH

IMPORTS OF GOODS AND SERVICES

CURRENT WORLD BANK ACCOUNT BALANCE

TOTAL CENTRAL GOVERNMENT DEBT

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Posted in: Politics