Regarding to the Aljazeera news, the new plan of infrastructure has defined by president-elect Obama and it has to be approved by the congress of the States[1].
The new plan consisted of construction the; national infrastructure such as high ways and buildings, refurbish school buildings, making them more energy-efficient and equipping them with computers.
Is there any better way to reconstruct the United States regardless on the huge budget deficit she has?
Don’t you think the credit crunch, rate cuts of Alan Greenspan and bust of his bubble were with no intension?!!!
I believe the entire of disasters were man made to create the opportunity for the country with the largest budget deficit to reconstruct her self without considering to her balance of liquidities. What do you think?
Reference:
[1] [Aljazeera news] Obama plans the infrastructure followed by URL: http://english.aljazeera.net/news/americas/2008/12/2008126201050213732.html
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Did you hear the good news? Obama is making it better for us already! Most people don't realize how much money there is out there now. During economic times like this, there is more money to be had than ever. Because of the bailouts and economy, the government and lenders are bending over backwards to bail you out too as a way to jump start the economy.
Regardless of what you hear, there is people getting tons of cheap money for personal use, businesses, buy homes, pay off debt, and more. These people have done the research, just like I have. Bailout is for YOU
alan greenspan did not cause the credit crunch. How is the Federal Reserve responsible for the bad decisions made on mortgages by private lending institutions who sold that debt on to some banks?
the crunch was caused by market participants. there is no one to blame here. it's the nature of free markets to overshoot on the upside and the downside. he warned many times of irrational exhuberance before the tech bubble burst, and still participants complained afterwards. capital has a momentum of its own and unfortunatelly that momentum is not always sound. when the u.s. fed funds rate was at 1.00% 4 years ago, you would have thought that reasonable investors rationalized that it's probably too low. but greed glands get stuck in the go position and everyone's chasing the last tick. this crisis shall pass just like all others in the markets. the market needs to regain its balance where the buyers are as strong as the sellers and that will take time and price concessions. no one person or entity can alter the flows of a free market on a sustained basis. mr. greenspan was the traffic director on a road travelled by hundreds of millions of motorists,and if accidents happen, it's the motorists and not the traffic cop who caused them
well...practical article but more controversial by itself.Talking about United states.... it was storng, it is strong and it will be strong too in terms of economy and funds.Though the world is under the financial crisis in recent days but states can stabalize it within short period of time.for the information, any crisis does not lead any country to decline but there are many opportunities if analyzed deeply.so the statement and news seems to be relevant because reconstructing and mordernizing the infrastructure will definately provide better return in near future.And further strength of the economy can only be identified if it can be maintained at the time of crisis utilizing the available resources effectively at optimum for sustainable development.and i think the option choosen by president obama seems to be pratical and political support will leads to its success.
i am agree with the comments of Nella.American economy is not stable now but it does not mean we can ignore their current position on economy world.Still now they are dominating the world economy and new president Obama comes up with some plan to solve their economical problem.Watch and see,what happen next......
An agenda to reconstruct America must:
• Devote sufficient financial assistance to states, cities and communities in order to maintain crucial human service programs, including Medicaid, Food Stamps, housing assistance, health care, mental health and substance treatment programs, and child care.
• Ensure that all members of American society, including immigrants, have access to education, health care, housing, jobs, and income support as basic human rights so that no family or individual is at risk of losing their home.
• Build new affordable housing for those working at minimum wage and those on fixed incomes who cannot afford existing housing in their communities.
• Ensure that the due process rights of immigrants and refugees in the United States of America are protected, and that refugees seeking political asylum are not detained nor treated as criminals.
• Ensure that those returning from service in the war are treated with dignity, and provided needed support to reconnect to American communities.
Until these goals are realized, American nation will never realize the promise of the American dream.
Source:
http://www.newamerica.net/publications/special/save_americas_finances_bring_back_community_banking_8399
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