A New Foundation for Growth: Assessing the Economic Recovery

Speaker: Peter R. Orszag, Director, Office of Management and Budget, White HousePresider:  R. Glenn Hubbard, Dean, Graduate School of Business, Columbia University

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[KhmerD0g]

u need to understand that value is your liability. one way or another you must deal with it. you either default or pay out.

your analogy to: "So if the jackpot is $50 million dollars and one million tickets are sold, then the US has $50 trillion in lottery tickets." is correct.

it's a business contract. don't sell it if u don't want to deal with it in the first place.

[anre1969]

Comparing the notional value of derivatives with World GDP is nonsense. It's like saying every lottery ticket is worth the jackpot amount. So if the jackpot is $50 million dollars and one million tickets are sold, then the US has $50 trillion in lottery tickets. I think anyone would agree that's a nonsense number. Understand the numbers you are quoting before making a conclusion!!!

[onlyrey]

While the Fed is printing money, the Dollar remains strong with very low interests. This only means that the Europeans, Japanese, and Chinese are all printing their currencies. At the end of the day, the Chinese will have to stop pegging their currency to the Dollar, and the balance will return.

How we Prepare for the future depends on our long term investments: Health care reform with strong public option, energy independence, education, and immigration policy that brings the best to the US.

[KhmerD0g]

we had only 5 publicly traded investment banks. they are over 100 years old and survived the Great Depression of 1930s. now they are all gone and converted to commercial banks.

U.S. alone has over $750 trillions in derivative and the entire planet has only $57 trillions in GDP. trade between nations around the world down 46%, that's almost cut in half compare to beginning of 2007. auto market (including production) around the world down 40%. U.S. true unemployment rate is around 18%.

[BespokeGroupUK]

unemployment always increases for a time after the other aspects of the economy start their recovery. The process of recovery starts with a slower level of decline followed by levelling off and then economic progress. Realistically we can (very pessimistically) expect unemployment figures to rise until the summer of 2011 and then we will see rapid improvement in the quality of life of the average UK US and EU citizen (I reckon anyway)

[KhmerD0g]

by the end of 2009 and 2010-2011 the ATL-A and option ARM home mortgages will reset. we will see a lot more home real estate default when the interest rises, in addition to subprime default. commercial real estate will default even higher. don't believe me just visit your local malls and stores. there are so many empty shops. unemployment is getting worst everyday.

obama prints money out of thin air. hyperinflation is coming. obama orders U.S. embassies around the world to trade local currency.

[KhmerD0g]

this idiot working for obama is nothing more than sugar coat the economy. how can u have recovery when unemployment is rising? we are entering the greatest depression ever.

watch peter schiff, max keiser, jim rogers, marc faber, gerald celente and ron paul. they are honest about the real situation of the economy.