I am not going to spend money on anything I don't have to (except skiing). Not because I think that tomorrow it will be cheaper, but instead because tomorrow I may not be employed. The United States is an instant-gratification society, and the historical misuse of credit supports that idea. So if people believe that they will earn tomorrow, they will spend today! I won’t stop my electricity, gas, cable, cell service, rent, food purchases, etc. because I think it will be cheaper tomorrow. But I do stop my thoughts of flatscreens, blu-rays, new cars, new carpeting, furniture, etc. because I am afraid I won't be able to pay off my current debts if I spend money unwisely or go into further debt for frivolity.
Usually the government doesn't come up with solutions to depression except one. That solution has always been war. It is not a good one, but it does put people back to work. Considering the situation in Russia, Europe and elsewhere, especially when depression occurs worldwide, it’s always been the solution. Problem is they are too expensive and just cause more debt.
What will be trigger for a war? Oil. Russia has lots of it we don't. Who's going to be a dominant player in this new century? Not us. A recent study released today discusses this very issue. It focused on the idea that by the year 2025 the United States will not be the dominant world power it is today and Russia will be the new emerging world power.
Oh, and Rush (Limbaugh) in answer to your question - "Where is Obama? Why isn't he doing anything about these crises?" If you haven’t heard, Obama hasn't been sworn in yet. Your friend Bush is still President.
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