[Shores9]

Originally Posted by Wild Style

If you think that was unintended then you should really look further into the issue. The things you mentioned as far as the financial markets are true but those are effects. The cause was a systemic problem in our F.I.R.E. economy. What we are going through now should have happened anywhere between 1998 to 2001. Instead they used low interest rates, relaxing of regulation and other tools to bring on another bubble to keep the economy going. Now we are paying the price we should have paid almost a decade ago.

The bubble is the price we pay for our current lifestyle. We’re bubble chasing!!! we all wanted to make a killing in tech so we threw money at ridiculous IPO’s – then it was housing – then oil. We all want Mc Mansions, Luxury SUV’s the latest games for our kids - flat screens TV’s – nips, tucks and other physical enhancements, and plenty of bling. [Well maybe not everyone!!]

So who’s really at fault? It’s all good until the party’s over then its point the finger at someone else.

Otherwise I think we are saying the same thing. I too believe it is a systemic problem as you mention, the main culprit being a “Lack of Oversight" in the financial markets, something that economists (including Greenspan) and government officials had been calling for since 1994.

Had such oversight been in effect there would have been more transparency that would have led to either self control or industry regulation by government.

So I agree… relaxing regulation without “someone minding the store” was a mistake.

We could get off on a protracted discussion on monetary policy and excess liquidity - I’d rather not. But I will say that the days of controlling the economy by monitoring and influencing M1 (money supply) or similarly simple methods are gone. Today we are looking at global economies, terrorist threats such as 9/11 (and the corresponding massive injection of liquidity) and other more complex issues that 20 years ago

[Wild Style]

Originally Posted by Shores9

The bubble is the price we pay for our current lifestyle. We’re bubble chasing!!! we all wanted to make a killing in tech so we threw money at ridiculous IPO’s – then it was housing – then oil. We all want Mc Mansions, Luxury SUV’s the latest games for our kids - flat screens TV’s – nips, tucks and other physical enhancements, and plenty of bling. [Well maybe not everyone!!]

So who’s really at fault? It’s all good until the party’s over then its point the finger at someone else.

Otherwise I think we are saying the same thing. I too believe it is a systemic problem as you mention, the main culprit being a “Lack of Oversight" in the financial markets, something that economists (including Greenspan) and government officials had been calling for since 1994.

Had such oversight been in effect there would have been more transparency that would have led to either self control or industry regulation by government.

So I agree… relaxing regulation without “someone minding the store” was a mistake.

We could get off on a protracted discussion on monetary policy and excess liquidity - I’d rather not. But I will say that the days of controlling the economy by monitoring and influencing M1 (money supply) or similarly simple methods are gone. Today we are looking at global economies, terrorist threats such as 9/11 (and the corresponding massive injection of liquidity) and other more complex issues that 20 years ago

Look up F.I.R.E. economy then I think you will fully understand my meaning. I agree though, we must now pay the piper. This is going to be a crazy ride to the bottom.

[outsider1]

Originally Posted by jbravo

Florida will be fine. Really. Yes, really. I mean for real. No worries. Now go shopping just like your President told you to do after 9/11.

Shopping we can't do... all the plastic is maxed out

[Shores9]

Wild Style

Although “Depression Like” is the headline here and I believe we are in a Game Changing economic event I really question how much worse it will get and what it will look like when the dust settles. I’m unsure how much longer we will have to go to hit bottom and don’t think its too far out on the horizon. That’s why I want to hear what people think about Florida’s future in light of current events

I understand the lack of substance in our current GDP [or FIRE economy] but the days of hammering steel or crafting furniture are long gone and services can only go so far –


A bright spot for our country is that we stimulate and promote our intellectual capital and as such we will likely lead the world in technology breakthroughs in energy and health to mention a few.

We will also bring some manufacturing back as it is simply cheaper to produce close to the consumer factoring in transportation and other costs.

As far a real estate and property rights - it is a basic thread of the free world. If you think different maybe we should try living under Kim Jong Il or some other oppressive regime – I think we would feel differently about the right to own land that we currently think so little of

There is an upside in a catastrophe and that is that when we rebuild it’s usually better.



PS Here's a service we could make a ton of money on... I’d like to see the US military charge for the services we provide to other countries to keep their land safe at a tremendous expense to us.

[Shores9]

As reported by the AP america's nest egg is shrinking!

"Unlike Wall Street executives, America's families don't have a golden parachute to fall back on," said Rep. George Miller, D-Calif., the panel chairman. "It's clear that their retirement security may be one of the greatest casualties of this financial crisis."

Interesting this comes from a DEM the party that sees no evil hears no evil speaks no evil. Dems have long been the force propelling the finance industry to new lows.

Guess this will hit FLA pretty hard

[outsider1]

Originally Posted by Shores9

PS Here's a service we could make a ton of money on... I’d like to see the US military charge for the services we provide to other countries to keep their land safe at a tremendous expense to us.

Then Iceland and Costa Rica will quickly figure out that such service is something they can do without

As for most of the other "protected" countries, keeping puppet governments safe while extorting money for it from their taxpayers would be like adding insult to injury.

[floridasandy]

Originally Posted by Shores9

As reported by the AP america's nest egg is shrinking!

"Unlike Wall Street executives, America's families don't have a golden parachute to fall back on," said Rep. George Miller, D-Calif., the panel chairman. "It's clear that their retirement security may be one of the greatest casualties of this financial crisis."

Interesting this comes from a DEM the party that sees no evil hears no evil speaks no evil. Dems have long been the force propelling the finance industry to new lows.

Guess this will hit FLA pretty hard

the same george miller who voted for the bailout? this hypocrisy is killing me. the same george miller who sold out our country and devalued our dollar?

[Shores9]

Originally Posted by floridasandy

the same george miller who voted for the bailout? this hypocrisy is killing me. the same george miller who sold out our country and devalued our dollar?

Hey Some History, Politics and Fannie Mae

Just “Google News” fannie mae and Freddie mac back to the early 1990’s and you will see a hair raising history of democratic party involvement in expanding loans to lesser qualified borrowers and blocking efforts by the Treasury, White House, Federal Reserve, SEC, and even a few Dems to tighten controls on the companies [Fannie mae & Freddie mac]

Dems should be proud that they have long time chief exec at Fannie Mae James Johnson a democratic political activist who was Walter Mondale’s campaign manager, an advisor to John Kerry’s presidential campaign, and now a campaign advisor to Barack Obama. Who’s in bed with whom here!!

Speaking of who’s in bed with who - They also have Barney Frank on their side - openly gay and in a homosexual love affair with a Senior Executive at Fannie Mae Herb Moses for a decade while they wrote the nation’s housing and banking laws.

I blame the dems directly here for the absurd ascent and the crushing fall in the value of savings/401k’s and home values of Florida’s families and seniors.

[Muggy]

If you're a renter, it's checkmate against Florida: if conditions stabilize or improve, we can buy at reduced prices; if FL goes Mad Max, renters simply leave. I have portability, cash, and options. What do I care if Florida weathers this storm well or not? Boomers have ransomed nearly everything in the last decade. This bust is fabulous for those who have not been hallucinating the last few years.

Dang, Shores9, you can't even discuss economics without getting homophobic again. XOxo

Good to have you back.

[Huckleberry3911948]

florida has a few things goin against it. 20 ft snakes, alligators, mean streets, low wages, hurricanes and a whole lota heat and high gas prices. other than that not much standing in the way.