Nicotunes

I thank the universe that YOU are not in charge.....

This is not a simple recession. Doing nothing will not only destroy the US but the GLOBAL economy, which looks to us, will also suffer huge and may also collapse!!!!!!!

Please wake up and look beyond your nose!!

Nicotunes

AND.............

If you do not like the gov't stepping in, you can blame Bush and all his (and your) deregulation cronies who CAUSED THIS.

If the careless, criminal, free-spending, out of control, no-oversight, rich, greedy financial institutions did not bring this country to its knees, the gov't WOULD NOT HAVE TO STEP IN!!!!!!!!!

Idiots.

Nicotunes

Further: Before you go blaming homeowners who got loans they could not afford: Yes, SOME were knuckleheads. But most were DUPED into thinking they could afford a home, because they COULD, at the INITIAL rates they were getting.

Bankers were nothing short of criminals......they KNOWINGLY made bad loans then SOLD these loans to other institutions. One big pyramid scheme. How? Deregulation. The wolves were guarding the henhouse.

Thank God we now have a President that will have none of that.

blkblks2k

Actually both parties are to blame. Bill Clinton, John McCain and Hilary Clinton were the ones who past a bill to deregulate wall street and banking in 1999. Also the fact that Bush and both parties did nothing about it means that we are all at fault by not looking at history.

http://en.wikipedia.org/wiki/Gramm-Leach-Bliley_Act

Irving Fisher argued that the predominant factor leading to the Great Depression was overindebtedness and deflation. Fisher tied loose credit to over-indebtedness, which fueled speculation and asset bubbles.[11]

Just like what happened to the mortgage business and banking.

When we can learn from the pass then we and move forward. I don't know who said this but I always taken this phrase to heart:
"On the shoulders of others we can move forward and improve."

This finger pointing that both you guys are doing is the reason we are in this mess.
Stop listening to the right and left and do some research for yourself and hopefully then you will understand what is happening.

We all need to put our heads together and work hard only then we can get out of this as a nation.

Bert05GPW

Poor people are poor because they're stoopid and lazy; if they weren't stoopid and lazy, they wouldn't be poor. Sheeesh.







I guess we're all Keynesians now.

Hero

this is a debate we shoud all have in person....cause we're going to get some huge responses that i just don't want to read.

in short...i'm with greg.

Finding the bottom and rebuilding is our best option and the only real SOLUTION. Everything else is a short term fix only prolonging the inevitable pain. It

Hero

a quote: "The Japanese tried every trick in the Keynesian playbook: Zero interest rates, public-works projects, tax rebates, and tax decreases. The government built thousands of bridges and roads, driving up government debt to enormous levels. Between 1990 and 2000, the Japanese government instituted 10 fiscal stimulus programs totaling $1 trillion. None of these programs worked. Sound familiar? "

we're not solving any problems here. only prolonging them and making them worse. we're f**ked. we need to accept it and restructure.

i'm ok with a tax increase. our debts MUST BE PAID OFF ( and written off in some cases ). there's no painless solution. a tax decrease like all the demos want is only a redistribution of wealth from future generations to our generation. There's no free lunch...1st rule of economics.

and paying people to dig holes and refill them like the new deal is a worthless option as well. only infrastructure projects that actually benefit the country or state should be undertaken...everything else is just, well, excess.

we need to wipe out this idea of entitlement that most citizens have gotten accustomed to. not everyone deserves own a house...not everyone deserves to drive a new bmw...not everyone deserves to have whatever they want.

i agree the basics should be provided...but beggers can't be choosers.

mrjulius

I couldn't agree more.

Hero

house passed the bill with only one vote more than necessary....not one republican voted yes.

senate is voting right now. decision expected soon.

this is big time stuff going on.

jlammy

This thread is full of fail....why did I even bother reading it?? I am full of fail for reading it.