We won't fully recover from this recession. Do you know why? (free market, interest)
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
buckle up guna get some rough riding soon. get liquid, no debt, dont take out any loans.
deflation incoming.
It's here already. There is no V in the MV equation, we have plenty of Money, but it's not changing hands fast enough. Those who have it are not spending it, those who don't are wishing they never bought all that "junk" on credit. You can't make payments with money you don't have. What junk? the car, the ipod, the new granite kitchen, the house with the pool, the vacations, the 4,000 pair of shoes closet.....
Not to mention bailing out the States pension and union funds.
Another bubble waiting to pop as is the unemployment comp bubble. How long shall we cut those checks? What happens when we stop. Before we were a one bubble at a time economy. Now we're facing multiple bubbles that are bursting at the seams. We never really left the pre internet economy. We just replaced one bubble with another, kicking an unproductive (society?) economy down the road. We're at the end of the road.
Revelated has a done an oustanding job summarizing the reasons leading to the financial collapse and economic meltdown.
The tea partiers have a great job in disguising and shifting the focus. The blame for this disaster is clearly on the total lack of regulation, arrogance, and monumental greed seen in the years 2000-2008.
When kids in their early twenties were buying and flipping homes with utter disregard to consequence, you just had to know something ominous was going to occur.
The total lack of regulation led to an era of come and get it while the getting is good. The eight year vacation taken by the SEC led to a proliferation of Madoffs and encouraged the subprime crisis to spiral viciously out of control.
I too am concerned about some of Obamas financial avarice----yet where were all the tea partiers during the eight year hiatus taken by or powers to be as this disaster unfolded----were they sipping chardonay on the 19th hole???
Revelated has a done an oustanding job summarizing the reasons leading to the financial collapse and economic meltdown.
The tea partiers have a great job in disguising and shifting the focus. The blame for this disaster is clearly on the total lack of regulation, arrogance, and monumental greed seen in the years 2000-2008.
When kids in their early twenties were buying and flipping homes with utter disregard to consequence, you just had to know something ominous was going to occur.
The total lack of regulation led to an era of come and get it while the getting is good. The eight year vacation taken by the SEC led to a proliferation of Madoffs and encouraged the subprime crisis to spiral viciously out of control.
I too am concerned about some of Obamas financial avarice----yet where were all the tea partiers during the eight year hiatus taken by or powers to be as this disaster unfolded----were they sipping chardonay on the 19th hole???
They were reading the bogus loan applications that were submitted by the democrats who could never afford a home prior to barney and harry. Then they would call the appraiser and arrange for a bogus appraisal. This has been going downhill longer than 8 years. And all of us are responseable if we sat back and did nothing or were too busy being greedy.
Two words can sum up the fall of the empire. The same 2 that lead to the fall of many great empires, MORAL DECAY.
IMO, the main reason that recovery from this recession looks so dismal is not due to moral decay, but rather because so many people are stuck in a rut of what Zig Ziglar refers to as Stinkin Thinkin.
Carl Jung, the late great psychologist says:
We don't so much solve our problems as we outgrow them. We add capacities and experiences that eventually make us bigger than the problems. If we have not yet grown wiser than our current predicament, then we can't see what the evolved state is beyond the predicament. Our minds are as-yet incapable of embodying the vision that will catapult us beyond the problem we're stuck in.
When the vision is perceived, whether it comes in the twinkling of an eye or over the course of many years, it is likely to be something that no one foresaw, let alone described in detail. It will be beyond our comprehension, unlike anything we currently imagine. (EG: Thirty years ago, not many people imagined the Internet or the impact it's having.)
Ummm, yeah. It goes back to your first, (and best, imo) point, Revelated: Indulgence. Why are you contradicting yourself?
That's part of the story. The other reality is our system and I've gone over this in the past. In some cases we have:
- Federal Tax
- State Tax
- Property Tax
- Income Tax
- Sales Tax
- Capital Gains Tax
- Use Tax
- The Health Care Excise Tax
- Social Security Tax
- Medicaid Tax
- State Disability Tax
Of those, nearly half of them are taken before we even see the money. SO in the case of a six-figure family, making $125k according to their reported salaries, they're really only taking home $85k-ish, then the rest is cut into by the other taxes. That's why people are struggling to make ends meet - we have a system that just takes and takes and takes, all because of the other flaws I mentioned. Your statement below about saving is a valid one but it isn't the whole story.
Quote:
Originally Posted by mysticaltyger
There are people at all income levels who understand the concept of saving. And there are people at all income levels who don't.
Ridiculous Mob Behavior.
Why are the RIAA and MPAA being allowed to throw 6-figure lawsuits around over music/movies? If I go and steal a computer from Wally World, I'll go to jail for larceny, be forced to return the laptop and/or pay restitution. No problem. It's a tangible good that I stole. Someone sharing out an MP3 recording of a song getting nailed for $150,000 per song? In a recession? That person is going to file bankruptcy, and nobody benefits - meanwhile, we've wasted dollars on the trial, when an easier way to handle the situation is to hit them with a fair market fine - say, $100 per song shared - and 1-3 years jail time, be done with it.
Add to this the mob behavior of the explosive junk debt buying industry, who are being allowed to target and harass innocent consumers for debts that they do not owe, belong to someone else, are beyond the statute of limitations, were discharged in bankruptcy or paid off years before.
Sorry, but I disagree. The legislators will be rebuked in the next two election cycles and freedom will return to the land of opportunity.
Americans don't like oppression.
I'm not so sure about that. As the "boom" era of the 90s showed, people like being oppressed as long as their paycheck doesn't bounce and they can pull home equity loans at will.
Really. Think about it. Think of a bozo politician with tenure (Pelosi, Reid, Rangel, Governor Goodhair here in TX, et al) and get back to us.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
