Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Speeches
Anyone take a look at the markets today....not cool. Plummeted in response to the election results...they are a good measure of peoples' confidence in the economy...
My predictions for the next four years = bleak:
1. National Debt at or over $20T.
2. Unemployment around 15%.
3. Inflation up several percentage.
4. Devalued dollar even more than it is now.
5. Housing market, descretionary spending, continuing to drop.
This isn't solely due to our POTUS, but due to a combination of him and the defiant Republicans in the House.
I also note that Romney's concession speech discussed a ton about working together and getting along. Obama's not at all. He told a bunch of stories, and gave a lot of nice-sounding rhetoric to pump everybody up. Important. But, I was looking for a commitment to play nice and work together. It didn't exist.
I am not at all convinced we will have a better America in 2016. I think this administration will blow it. And, no more blamming it on Bush - it's all Obama this go around for the next four years.
Re: Speeches
"And in the coming weeks and months, I am looking forward to reaching out and working with leaders of both parties to meet the challenges we can only solve together - reducing our deficit, reforming out tax code, fixing our immigration system, freeing ourselves from foreign oil. We've got more work to do. "
No. he didn't say anything about working together and getting along.
Not at all.
The stock market plummet was also in response to the economic crisis in Europe, it is not solely the result of the election.
Also, President Obama stated very clearly in his speech that he wanted to work Republicans and would be scheduling a meeting with Romney to talk about the economic recovery.
May I ask what your basis is for your unemployment forecast?
I predict that in 4 years:
1. The economy will have improved
2. Unemployment will have gone down.
3. All Americans will have insurance coverage
4. The Republican party will recognize that they need to reevaluate their priorities, shake off the Tea Partiers, and distance themselves from the extreme social conservatives.
That last one is more a hope than a prediction.
The national debt increasing and the falling dollar will put pressure on the economy. Families and individuals will cut spending for descretionary things even more. All of this occurring will further stress businesses that are already burdened under the new healthcare legislation and there will be more layoffs. So, unemployment will rise.
Hardest hits: automotive, construction, retail, entertainment, travel, and any other area that is built on descretionary purchases for either personal or commerical consumption.
As a side note, I think government, education and health care jobs will do better, not as an increase better, but as a status quo better - they will fall but not as much.
RE: Speeches. A lot of Romney's speech was about across the aisle working together after his thank yous. Obama devoted, only a haldful of sentences to the topic.
I think this is alarming considering the "cliff" we're on. He is a lame duck now, so I want him to get busy. I say if he meets with Romney and/or other Rep leaders, as he said he would, within the next two to three weeks, that he may be changing his tune. Otherwise, I think his words about true bipartisianship are a crock and we can expect to see more gridlock.
Glad for you. It's rare. We can't have a national debt of $20T (in the future) and not have it affect other aspects of our ecomony like housing - everything is interrelated. Also, the dollar's value is falling because of all the Quantitative Easing the Federal Reserve is doing.
For more reading, try The Dollar Meltdown by Charles Goyette.
Oh, MommyLiberty. I love that your making these predictions with no rational as to why anyone should trust your opinion. You know what they say about opinions, right?
Also, why on earth would he meet with Romney? He's nothing more than a former Mass Governor. Also, the Republicans are responsible for a huge portion of the gridlock, so perhaps the onus should be on them to be more bipartisan.
ha! Thanks for the reading list. Lol. Also, my area is improving for many reasons...one of them being we were hit the hardest first. Our housing market crashed in 2007, so the uptick is definitely a sign that Obama's policy is helping this country.
I felt Romney's speech was a lot of "Sucks that you guys didn't vote for me because I totally would've been bipartisan" even though there is all evidence to the contrary.
I guess we'll see in 4 years where we are economically.
Here is Romney's speech. I have highlighted the three sentences that discuss working across the aisle. And the third one is iffy.
Thank you. I have just called President Obama to congratulate him on his victory. His supporters and his campaign also deserve congratulations. I wish all of them well, but particularly the president, the first lady and their daughters.
This is a time of great challenges for America, and I pray that the president will be successful in guiding our nation.
I want to thank Paul Ryan for all that he has done for our campaign and for our country. Besides my wife, Ann, Paul is the best choice I?ve ever made. And I trust that his intellect and his hard work and his commitment to principle will continue to contribute to the good of our nation.
I also want to thank Ann, the love of my life. She would have been a wonderful first lady. She?s ? she has been that and more to me and to our family and to the many people that she has touched with her compassion and her care.
I thank my sons for their tireless work on behalf of the campaign, and thank their wives and children for taking up the slack as their husbands and dads have spent so many weeks away from home.
I want to thank Matt Rhoades and the dedicated campaign team he led. They have made an extraordinary effort not just for me, but also for the country that we love.
And to you here tonight, and to the team across the country ? the volunteers, the fundraisers, the donors, the surrogates ? I don?t believe that there?s ever been an effort in our party that can compare with what you have done over these past years. Thank you so very much.
Thanks for all the hours of work, for the calls, for the speeches and appearances, for the resources and for the prayers. You gave deeply from yourselves and performed magnificently. And you inspired us and you humbled us. You?ve been the very best we could have imagined.
The nation, as you know, is at a critical point. At a time like this, we can?t risk partisan bickering and political posturing. Our leaders have to reach across the aisle to do the people?s work. And we citizens also have to rise to the occasion.
We look to our teachers and professors, we count on you not just to teach, but to inspire our children with a passion for learning and discovery. We look to our pastors and priests and rabbis and counselors of all kinds to testify of the enduring principles upon which our society is built: honesty, charity, integrity and family. We look to our parents, for in the final analysis everything depends on the success of our homes. We look to job creators of all kinds. We?re counting on you to invest, to hire, to step forward. And we look to Democrats and Republicans in government at all levels to put the people before the politics.
I believe in America. I believe in the people of America. And I ran for office because I?m concerned about America. This election is over, but our principles endure. I believe that the principles upon which this nation was founded are the only sure guide to a resurgent economy and to renewed greatness.
Like so many of you, Paul and I have left everything on the field. We have given our all to this campaign.I so wish ? I so wish that I had been able to fulfill your hopes to lead the country in a different direction, but the nation chose another leader. And so Ann and I join with you to earnestly pray for him and for this great nation.
Thank you, and God bless America. You guys are the best. Thank you so much. Thank you. Thanks, guys
lol. But she's all knowing!
Honestly, I have some Dem friends who say they liked Romney's speech and felt he was sincere, but he came across as the same old flim-flam man he's always been, IMO.
Again, you're citing many things without any back up. If you're an economist by trade, I'll take your word at face value. But somehow I doubt that.
I actually thought Romney's speech was okay, but I definitely think he also only touched on working together and spent more time just thanking people who worked on the campaign. Obama doesn't owe it to anyone to promise to "reach across the aisle" after four years of ridiculous divisive politics spearheaded by the Republican party.
*edited for spelling/wording
I love that you say what I am thinking. Makes it too easy for me.
It's basic Econ 101 most of it. One thing going south pulls the others down with it. A domino effect.
But my sources include, The Dollar Meltdown by Charles Goyette (who rubs elbows with Ron Paul - a pretty moderate Rep socially, but very fiscally conservative), Aftershock by Wiedemer, Wiedemer and Spitzer (the authoers accurately predicted the 2008-2009 collapse back in 2006), another book with 2.0 in the title but I am away from my bookshelf and the title elludes me, as well as a host of info from Mike Maloney who is an economist/speaker/precious metals dealer who speaks on the international circuit, including the European Union, on monetary matters. Also, check the Federal Reserve websites and historical economic data going back to the Revolutionary War and also the former Comptroller of the U.S. David Walker.
Those are my sources.
See an earlier post about my list of sources. Also, I don't know why he'd meet with Romney either, but if you read his speech, he said he was going to. I was just refering to what Obama said.
RE: Gridlock: my OP stated that the Reps are to blame too and that we didn't get in this mess only with Obama.
I still maintain that "fiscal conservative" is a misnomer.
The stock market typically falls every year after election day.
But today's fall wasn't solely or even mostly due to the election - it was because of some very bad news coming out of Europe.
I'm not surprised, though, that you aren't aware of anything that happens outside of the United States. Or that you are unaware that things happen outside the US that actually do matter.
But if the debt is decreased by the tax increases, isn't that a great thing? Isn't the national debt/deficit the most important issue? And won't paying off the debt mean our economy will be hugely prosperous, so we'll all have tons more money?