The housing/credit/financi... troubles are just a symptom. Our troubles emanate from the big bankers/wall street. When the Federal Reserve was formed our doom was sealed. Then these "big wheels" found out they could make even more money by shipping the United States manufacturing overseas. We needed that for an economic base. It's gone. The "Big Wheels" are now having trouble fleecing (through the federal reserve/Wall Street) the citizens because as a whole, we are broke. Too bad for the "Big Boys". Well, they can keep going for a little while on the bail-out money. As for when "it" ends, I don't believe I will live to see the end.
Peacelover, Peace at what cost? As disgusted as I am with Bush (I didn't vote for him this last time), I am leary of what Obama brings to the table. We already have lost too much in the way of freedom. Our free market is going fast. Mr. Obama seems to lean towards socialism. We'll see.
Intuitive article, Mr. Ehrenberg. We cannot repair an economy that is 70% dependent on "what we spend" by throwing more money at it. Where is the manufacturing? Mr. Paulson's bail-outs and incentives are just piling more debt on. If I didn't think that the dollar is going to fail, I would be tearing my hair out because of the debt that we will be leaving for our children and grandchildren. Where are our leaders?
The downturn will not end until we begin to do something to fix it. It will not fix itself. MarketLost has commented on things that we have now that will safeguard us. I'm thinking he forgot to mention the huge debt and trade deficit we have now. Also, as Markmc2000 has mentioned and MarketLost left out, we no longer have our manufacturing to pull us up by the bootstraps. The ruling elite (central bankers) have sucked the working class dry. Now someone please tell me how the feds/treasury throwing fiat money (losing value fast) is going to solve our problem. Has everyone forgotten that our economy has become 70% dependent on what we spend? I, personally, will not live to see the United States humming again.
Manufacturing was moved overseas. Interest rates were lowered. Our economy was largely based on what we spend. What do we expect when we run out of money? Let's not do anything to fix the problem. Let's "throw money out of helicopters". That'll help. What do we do when we get to the bottom of the hill? There's no ski lift.
aarc, I seriously doubt that the "government" is going to guarantee anything about the stock market. Right now they are putting trillions into the market just to intice investors into it. This will fail as the maket will continue it's fall. The feds/treasurer/congres... should not be guaranteeing anything. The only thing they are doing is delaying the invevitable. The people will just be in more debt because of their actions. The crash is coming. Too bad, but then we, the people should not have let them move our factories offshore. It won't matter who is elected. The central banks want Obama. As they control the media, we will get Obama.
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The powers that be sent our manufacturing offshore. The powers that be encouraged inflation/speculation. The powers that be are flooding the financials with liquidity and directly injecting into the stock market, trying to entice investors . Our economy has been ruined by the powers that be. No amount of liquidity can change that. Too bad, but dream on.
This Isn't a Bottom, It's a Disturbance in The Force [View article]
Socialism, sorry I didn't make my point more clear. Dip your toes, but don't fall in. There is no bottom. Manufacturing is gone. Financial appreciation took it's place. Now there is no appreciation or manufacturing. Jobs are going to continue to be lost. Businesses, banks, etc. are going out of business. Until something is done about the manufacturing, nothing is being done. Something of a metaphor, but true. We are in for big trouble. More trouble than getting a cold toe.
This Isn't a Bottom, It's a Disturbance in The Force [View article]
Oh yes, your article is right on target! Just because everything is tanking (the government is bailed out banks, auto manufactures, etc.). It must be time to invest money in their stocks. Maybe I was born yesterday, but not that early.
It's Too Late for Tax Cuts, Now's the Time To Increase Government Spending [View article]
I had a friend who had a child that lite a fire in a wastebasket under the cabinet. The child shut the cabinet door after he saw what he had done. The fire did not go away. Your idea of throwing more liquidity (gasoline) on a fiscal fire will do nothing but perpetuate the incident. To put it another way, the party's over and we now need to pay the band.
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I'm thinking the best thing we can do is "just wait and see". I feel sure that our government will "take care of us". While we're waiting, we could bail out a few more institutions with money borrowed in the taxpayers name, passing this debt on to our kids. I guess it would also be appropriate to see if there is any manufacturing we cold send overseas. There might be something we missed. Oh yeah, we could put a few more "immigrants" on welfare, too.
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Latest | Highest ratedWhen Will the Recession End? [View article]
The "Big Wheels" are now having trouble fleecing (through the federal reserve/Wall Street) the citizens because as a whole, we are broke. Too bad for the "Big Boys". Well, they can keep going for a little while on the bail-out money. As for when "it" ends, I don't believe I will live to see the end.
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