Draghi: economic outlook weak, not improving

Comments (12)
PCScipio wrote:

Hmmm. No stimulus in the EU, economic activity to remain weak; government stimulus in the U.S., consumer confidence and economic activity picking up. Thank goodness for Republican policies!

Nov 08, 2012 9:21am EST  --  Report as abuse
LoveJoyOne wrote:

It’s time for these bimbos to start taking measures to kick-start the economy.

Defending a strong euro is certainly not going to get them out of this mess.

Devalue and conquer.

Nov 08, 2012 10:13am EST  --  Report as abuse
bobber1956 wrote:

PCScipio
The only way to stimulate the US economy is with more debt. Commerce, manufacturing, the service industry, health care, are all going to tank because of the pending tax hikes and unemployment is going to skyrocket. The government can not afford the people on unemplyment, food stamps, welfare, SS, and entitlments right now, not to mention more. Food, fuel, clothing, housing, and all other essentials are all we can afford. And to top it off there is going to be a big exodus out of the country by big businees to avoid the tax bill. Tweak all you want, those are the facts on the ground. It does not matter who’s economics it is-it ain’t workin’.

Nov 08, 2012 11:24am EST  --  Report as abuse
PCScipio wrote:

bobber1956, wanna bet?

Nov 08, 2012 11:34am EST  --  Report as abuse
jrj906202 wrote:

Americans have chosen the European model for the U.S.Look out below.Govts don’t produce wealth,they destroy it.The more govt you demand,the poorer your country becomes.

Nov 08, 2012 12:14pm EST  --  Report as abuse
lateralgs wrote:

Europe has a huge hole to diog themselves out of, and that will have a very large impact on our ability to grow our own economy going forward. We’ve already seen that! It’s a fact. What we need to do in the U.S. is take control over the things we CAN affect. We need to get past this us vs. them mentality in the U.S. We need to find common ground to reform federal personal income tax policy and include elimination of many sacred tax deductions and loopholes and simplify the code dramatically, incrementally delay full qualification ages for Medicare and SS and do some form of means testing for benefits, formulate a reasonable regional foreign corporate tax policy that provides financial incentive for big business to “come home” with job creation where possible, reform immigration policy to include making it easier for foreign-born people who obtain advanced degrees here in the States a real opportunity to stay here and work, find ways to make higher education more affordable for U.S. citizens, make better use of community colleges and smaller universities to provide high-value technical training to qualify our own workers for the trades of the future, develop effective cuts to defense spending and quit trying to impose our will militarily all around the world at every flashpoint, and restore marginal income tax rates to something closer to what existed in the ’90s. Congress needs to quit blocking and start cooperating, and the Administration needs to lead by example by embracing Simpson-Bowles as a legitimate starting point for discussions. It’s really not that complicated. But the PEOPLE of this country MUST DEMAND that Washington acts cooperatively. It’s our only real hope, and rests squarely on our own collective shoulders.

Nov 08, 2012 12:31pm EST  --  Report as abuse
bobber1956 wrote:

jrj906202
The real irony is that in 1776 we decided to abandon the European model for something better. Even fought a war over it. It worked very well too up until around 1860 or so when a guy named Lincoln came along and decided we needed to back up with this whole new “party”. Well the party is about over.

Nov 08, 2012 12:42pm EST  --  Report as abuse
PCScipio wrote:

@jrj906202 & bobber1956: Platitudes, unfounded assertions, and inapt comparisons do not make good arguments.

Nov 08, 2012 12:56pm EST  --  Report as abuse
lateralgs wrote:

bobber1956, what the heck are you talking about? “Irony” of “abandoning” the “European model of 1776″? What?? That was kings and queens and despots. There has been just a little changing of the guard since then. Totally, completely, irrevocably irrelevant to what is going on in the world today.

Nov 08, 2012 1:00pm EST  --  Report as abuse
LoveJoyOne wrote:

The US tried austerity just after the 1929 crash. That, more than the crash itself, was responsible for the Great Depression.

When Lehman Brothers went under, and the sub-prime crisis hit, the danger to the economy was just as great as in 1929.

Only the heavy intervention of the Federal Reserve – which printed money like it was going out of style – as well as the massive stimulus spending by the Obama administration, saved the world from a second Great Depression.

This is probably already standard reading for all economics 101 students.

The dual intervention of Federal Reserve and Federal Government was like a HIV drug cocktail of Keynesian and Monetarism economics, like never used in the past. Even now, 5 years later, we don’t have inflation. What we would have had was a severe bout of deflation and the end of the modern economy as we know it.

Nov 08, 2012 2:01pm EST  --  Report as abuse
LoveJoyOne wrote:

bobber1956

We all abandoned some “model” at some stage of our ancient history. A number of us abandoned the neanderthal model, for example. Unfortunately, I’m afraid it wasn’t the case for everyone.

Nov 08, 2012 2:06pm EST  --  Report as abuse
ConradU812 wrote:

Who cares? The US is doing great! Our economy is increasing daily, monthly, and annually. Reuters says so!

I want my free cell phone!

Nov 08, 2012 3:58pm EST  --  Report as abuse
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