The fact that people even ARE complaining in the country with the highest standard of living and continued economic success in recorded human history is a little silly.
I didn't realize we were talking about Switzerland...
Recession cycles do occur, and the real problem is correcting America's trade imbalances and preventing her from stagnating via a misplaced reaction against the forces that keep her economy alive.
I believe the Democrats will come into power, but the wonderful brand of Edwardsian anti-globalization economic "theory" that's bumping around Obaman and Clintonista stump speeches doesn't look like an effective idea to me. Hawley-Smoot for the digital age, really, since "rethinking NAFTA" means "killing NAFTA."
But wouldn't you agree we should try to stop them? There are economic theories out there that deal with the cycle and soften its impact. Academically it makes sense to say "Hey, it happens", but outside the ivory tower, people want someone to make sure their increasingly rundown neighbors don't get shot up by the "reaction to normal economic forces". Killing NAFTA is simply an impossible dream. Both candidates have very moderate positions on renegotiating it, and if a Democrat comes to office, it'll be more of a wonderful brand of "Lets screw with Globalization and make it work for America" and less of a free for all total free market style.
Democrat or Republican, low spending free traders improve America's economic position, while high spending protectionists utterly screw it over. Unfortunately, Bush has been a high spending free trader, so the economy has flatlined.
High spending though can stimulate the economy very much if your not sending all your dollars to the desert, giving tax breaks where they do nothing but make the top 1% richer, and generally not spending on public works or social programs.
A democratic revolution in China would be excellent for the American economy, particularly if it's a liberal government that begins to raise wages, destroying the WalMart monopoly on cheap imported goods and allowing other corporations (and domestic factory production) a chance to recover. America has the opportunity to lead the world in advanced, environmentally friendly technology. Post-industrial technology. Our automakers are too stupid to realize that if they successfully developed an efficient hydrogen car, along with a hydrogen infrastructure to boot, they'd save themselves from collapse.
As the Foreign Affairs that came out before this most recent one pointed out, a revolution in China is going to be nothing of the sort. Gradually China will democratize, but there isn't going to be some armed uprising that overthrows the communists. Instead, all the aspects of democracy will slowly form within the current structure until the current China crumbles away. The Poliburto is under constant pressure to grant more and more elections, more and more non Communist Party officials are being elected in local elections, and a two party system is developing with the Party Superstructure. They've see that free trade and economic growth, all bundled in the shiny wrapping of capitalism, work and if they want to keep growing, they need to keep becoming freer. This should be intuitive to a free trader like you, its basic Thomas L. Friedman
EDIT: I mean come ON, the sum theory of Democratic economic policy is, "Let's declare war on the wealthy corporations that have driven our economy since 1890, rather than working with them, while also building obtuse barriers to foreign trade AGAIN, undoing everything that Bill Clinton accomplished."
That was the Edwardsian theory, an while debating politics while 3 months behind the times is always nice, its not really helpful. There will be no more war, and in fact an Obama is much more likely to cooperate and even assist with Davos development than a McCain. Corporate Social Responsibility, the new prevailing wind in the free market world view, is inherently more inline with Obama democracy than anything else.
I think our best bet on that front is a Democratic president; the only things I strongly dislike about their energy policies are corn ethanol (GAH!) and anti-nuclear power (oh noez, one mostly contained meltdown in half a century!).
100% completely agree. I applaud you Michigander.
Would have voted for Dodd, but he dropped out. So I voted for Clinton.
Obama, frankly, scares me a little (though not enough that I'll vote for McCain instead)--it seems that he's developing a cult of personality. Worse that that is his non-plan for Iraq, which as far as I can tell consists of withdrawing immediately no matter the consequences. I believe, and will argue, that at this juncture staying in Iraq is less destabilizing to the middle east than pulling out.
I'm almost positive that the Obama withdrawal will include either soft or hard partition of Iraq and the crisis will be avoided. It'll be very Biden-esque. Once the ethnicities have basic autonomy from each other, they'll want to peaceful reconstruct themselves and sell themselves to the outside world. Their competition to fill the vacuum spurred on the civil war and allowed terrorist groups to recruit and spawn and grow in Iraq. Once the terrorists are only killing citiziens of their new nation/autonomous region, the government will see no need for them and severly crackdown.