Financial crysis [usa]

Pecca · Post by **Pecca** » Thu Sep 25, 2008 6:55 pm

What´s your thoughts on it ?

JonSolo · Post by **JonSolo** » Thu Sep 25, 2008 7:22 pm

I live in the US and find that many people don't know which way to turn. Additionally, economics in the US affect the world overall because many of the markets are centered here. Obviously that is part of your interest. Unfortunately I feel this situation truly is without borders...unfortunately, I say, because it was poor leadership (and I don't just mean Presidential) that allowed this to develop.

However, no matter how anyone feels about a bailout or whatever, the economy belongs to us...therefore it is our obligation to take care of it. The problem lies in having clear direction from leaders as to HOW to take care of it. My deepest sense is that if Americans are told a solution that is real, you will see a rally to support it. But right beside that sense is the reality that there might not be a real solution; anything that happens will be temporary fix until it gets screwed again. Therefore, I really don't trust much of what is said.

But it really cannot get much worse...just more side affects of the already failed system.

Fatalmasterpiece · Post by **Fatalmasterpiece** » Thu Sep 25, 2008 10:25 pm

I believe Michigan, the state I live in, has the worst unemployment rate. Businesses are folding here like mad and in every town you see pockets of foreclosed houses. You can buy very nice two story homes here for under 50 thousand...

I have several friends with Bachelors degrees that are working at Walmart or similar retail shops for minimum wage because they just can't find anything else that is steady enough.

We needs something badly, where is FDR when you need him?

georgeinar · Post by **georgeinar** » Thu Sep 25, 2008 11:04 pm

Interesting on prices, my condo in Chicago is worth more than 150 thou, go figure. I worry that our deficit now is itself going to bring us down. Pres Clinton said on John Stewart that if when all this wealth was being invested in funny mortgage money, we could have turned instead and pushed for investment in alternative energy research that we would not be in this mess and we would have progressed quite far toward harnessing the wind and sun etc.

Ultimate Dj · Post by **Ultimate Dj** » Fri Sep 26, 2008 2:59 am

Fatalmasterpiece wrote:I believe Michigan, the state I live in, has the worst unemployment rate. Businesses are folding here like mad and in every town you see pockets of foreclosed houses. You can buy very nice two story homes here for under 50 thousand...

I have several friends with Bachelors degrees that are working at Walmart or similar retail shops for minimum wage because they just can't find anything else that is steady enough.

We needs something badly, where is FDR when you need him?

yeah your right. I know Detriot has the worst unemployement rate in the country.
As for the Econamy it sucks! Bush ruined it! lyk everything else...

I'm glad i'm leaveing this god forsaken country. everything about it sucks!
just some of my thougths!

pura vida
el che

JonSolo · Post by **JonSolo** » Fri Sep 26, 2008 3:17 am

Bush is an easy target. There is no way however that he is to blame for the economy. It is like saying that Fannie Mae would have been better off financially for not giving to Obama's campaign. It is just not the truth.

It will take non-partisan speech to find AN answer. I find it interesting that if you take the best ideas of the two sides, you get a fairly decent answer.

FDR would only create another sink hole unfortunately.

The best place to start would be where the country was when it was founded: non-paid elected officials. Their decisions would never be based on what they would receive...but rather how it would effect their "day" jobs.

Real working people in Congress. That would help.

OH...and take the power away from Congress and put it back in the hands of the people. Government should NEVER make financial decisions for us (thus my FDR comment above).

Here is a question for you all: obviously the government does not REALLY have the money to bail even OJ out of jail...and companies are going broke...um, then WHERE IS the money? I mean really...where did it go? If everyone is hurting and everyone is OUT of money, where is it and how can we get it back?

georgeinar · Post by **georgeinar** » Fri Sep 26, 2008 12:03 pm

Actually, we've been spending China's money for quite some time. And probably Japan's and that of Saudi Arabia. These countries and more basically own us, although it's in their interest to not foreclose on our country as they need us to prosper as does everyone. I do agree that you can't say, for instance, that Bush caused this problem. However, the person at the helm should take responsibiltiy for what occurs on their watch. Clinton said any president when they leave the whitehouse should consider whether people are better off or worse off during your presidency. Well, I think we are much worse off. And largely due to the overall deficit that Bush overspent by waging wars that were based on lies and loyalties to the oil companies. Were we not already 11 trillion dollars in the whole this 70 billion would not be so catastrophic. Now it seems that at least another whole generation will need to pay for these mistakes. Those who were behind the deregulation bills for the financial companies are partially to blame for this financial crisis also, as they made it easy for these companies to do funny money invenstments, and McCain was on that commitee.

Giner · Post by **Giner** » Fri Sep 26, 2008 9:09 pm

georgeinar wrote:Clinton said any president when they leave the whitehouse should consider whether people are better off or worse off during your presidency.

Wouldn't it be good if a President would consider that thought before he even started the job? As in, "Let's make the people better off during my presidency."

JonSolo · Post by **JonSolo** » Fri Sep 26, 2008 10:16 pm

Yep. It is a rough job and it's ashamed that the choices offered are so limited. There are many non-political people that would likely do a better job than ANY that have ever been elected.

But I agree...what happens on your watch is your responsibility. W Bush will not make history books with a positive finish. It will all be nasty.