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The great depression was not caused by government. I had many factors, the cause of the stock market crash was the lack of control or over site by government. Little investors were encouraged to invest on margin. Where they would put up 10% of what they wanted to buy and the broker put up the balance. When the stock fell in value and hit the 10% loss mark, the broker would either sell the stock recouping his money or the investor had to put up another 10% to keep the broker even. It was also a world wide depression, the United States government did not over regulate the world did it? The raising of taxes was more of added problem than one that created the problem in the first place. If you really look a history, the over stimulated economy of the 20s known as the roaring 20s is a very close parallel to our 90s to 2003 or 04. Homes all over the country went up in value at an unrealistic rate. I can still remember talking to a real estate agent in Florida who said a home that sold for 100k last year will sell for 110k now, and 125k next year. It did this in many parts of the country and people fed on the bigger fool theory. As long as a bigger fool comes along and buys for more than what you paid, things will flow. This combined with government deregulation under a republican administration has helped to set the stage. There is one thing different than the 29 crash. Oil. There is an oil crisis happening. We can not drill our way out of it. It is a finite product and as the world grows the demand is beyond the dying oil fields ability’s to produce enough. The only reason oil is low now is because of the world wide economic recession and possibly depression. I do not think GM "needs to fail" but the tax payers do not need to bail them out. They were building Hummers, and pushing the idea of having to own a SUV for years only because they made a lot of $ selling them.
When Toyota and Honda were building Hybrids, GM was building Hummers, Now that Toyota and Honda are building multi billion dollar Lithium Ion battery plants for the new generation of Hybrids, GM wants to borrow 25 billion to build the big trucks that it knows people in the USA really want. They just do not get it. They tout the Volt as though it is some kind of break through. Are they completely mad? A car that will cost 40k, that can go 40 miles on a charge, that you can pay even more $ to get an engine to run a bit farther? Are you serious? Do you think anyone will buy this? Really? I have a Toyota Corolla, I am easy on the gas peddle and on the highway I get 44 MPG. The car cost me 12500 for an 09. I do not have seat warmers and it does not give me a reach around. But it does the job nicely and with Japanese dependability. If all goes well and I sell my home and move to the city I am looking at, I will buy a Honda or Yamaha 250 cc scooter. It gets 75 mpg, I can run to the local Wal mart and pick up 3 or 4 bags of groceries, and it can be bought used for around 2k. There are big changes on the horizon, we can either accept the fact and work to rebuild, our we can try to keep the train on the same old tracks and wait for the derailment that is to come. Keep listening to Limbaugh if you are up for the derailment. Work with the change and hope Obama is the man we who voted for him think he is.
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I heard on NPR today that we can expect something very different from the Great Depression because the stock market has not collapsed; it's the mortgage and building market that's collapsed. Also, despite some bank failures, there has not been an across-the-board failure of nearly every bank in the nation.
Hiring loyalty over competence in Washington and Wall street has created a mess that has not had any solutions brought up by nuetral unbiased leadership.They continue the blame game,instead of aknowledging there is a severe problem with our economy on all front's,this in turn has dumped consumer confidence down the sh*tter.
Problem:Iraq is getting 10 billion a month
Solution:If the Iraqi warriors had pride,they would stand against the problems in their nation and relieve our boy's.
Problem:Henry Paulson in Washington.
Solution:If you recieved any kind of triple digit bonus,i.e.Goldman Sachs,you cannot take a job in Washington prenteding you care about Main Street.
Hiring loyalty over competence in Washington and Wall street has created a mess that has not had any solutions brought up by nuetral unbiased leadership.They continue the blame game,instead of aknowledging there is a severe problem with our economy on all front's,this in turn has dumped consumer confidence down the sh*tter.
Problem:Iraq is getting 10 billion a month
Solution:If the Iraqi warriors had pride,they would stand against the problems in their nation and relieve our boy's.
Problem:Henry Paulson in Washington.
Solution:If you recieved any kind of triple digit bonus,i.e.Goldman Sachs,you cannot take a job in Washington prenteding you care about Main Street.
Hiring loyalty over competence in Washington and Wall street has created a mess that has not had any solutions brought up by nuetral unbiased leadership.They continue the blame game,instead of aknowledging there is a severe problem with our economy on all front's,this in turn has dumped consumer confidence down the sh*tter.
Problem:Iraq is getting 10 billion a month
Solution:If the Iraqi warriors had pride,they would stand against the problems in their nation and relieve our boy's.
Problem:Henry Paulson in Washington.
Solution:If you recieved any kind of triple digit bonus,i.e.Goldman Sachs,you cannot take a job in Washington prenteding you care about Main Street.
we cant forget that iraq is a 3rd world country. we all know how well mexicos police force is. perhaps our intervention is need to ensure a police force that isnt corrupt.
we cant forget that iraq is a 3rd world country. we all know how well mexicos police force is. perhaps our intervention is need to ensure a police force that isnt corrupt.
With us giving them 10 billion a month,rebuilding"their"infrastructure,and,protecti ng "their"border's,kind of a novel 3rd world country,don't you think?
Hiring loyalty over competence in Washington and Wall street has created a mess that has not had any solutions brought up by nuetral unbiased leadership.They continue the blame game,instead of aknowledging there is a severe problem with our economy on all front's,this in turn has dumped consumer confidence down the sh*tter.
Problem:Iraq is getting 10 billion a month
Solution:If the Iraqi warriors had pride,they would stand against the problems in their nation and relieve our boy's.
Problem:Henry Paulson in Washington.
Solution:If you recieved any kind of triple digit bonus,i.e.Goldman Sachs,you cannot take a job in Washington prenteding you care about Main Street.
Well said!
One amazing thing that I have heard few mention is that most of those in Washington are clueless (or nearly so) about most of the issues that they deal with. That's not just some rant...it's a fact. They are playing with the economy and most of their eyes would glaze over in 5 minutes if you sent them to almost any financial website like Bloomberg or CNBC. They would have no clue what all the terms meant or what the article was referring to. Man, that is scary!
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