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He should be angry at Dubya and the Republican for doing so much to cause the mess we are in.. and also at good number of Democratic congressmen who had a hand in it. So in that regard he SHOULD be angry at government...
I'm sure he sees that Obama is merely stepping up to the plate and doing the dirty-work and trying to fix the mess that Dubya left behind...
And Obama is definitely NOT an agitator...
He'll eventually fix this mess that he inherited.
Obamaton heuristic algorithm generator produces the result of:
We are currently no where near depression levels...
However, we could fall into one if the financial sector were to melt down.
“If the financial sector were to melt down”? What exactly would you say the condition of the financial sector is now? The whole thing is insolvent and only existing on lies. The Government is bankrupting itself trying to plug up all the holes. As far as not being in a depression, perhaps you personally are not in a depression but there are millions of workers in construction, in the automotive fields, real estate professionals, mortgage brokers, and retail who would argue the point. 650 thousand people a month are being added to the unemployment rolls which now total more than 5.5 million. Some States are now admitting to unemployment rates of more than 12%. There has been 10 trillion dollars lost in Real Estate, and another 10 trillion lost in the Market, add to that the 11 trillion the clowns in Washington have put on the taxpayers tab and to say we are no where near a depression is naive at best. Now you tell me what is going to turn this thing around. Not our manufacturing base, we packed that up and shipped it overseas. Not our well educated work force, we have to import most of our doctors and engineers from other countries. Oh I know it is the geniuses in big business and government, oh wait they are the ones who caused this fiasco. Face it we are screwed and getting more screwed every day that goes by.
“ As far as not being in a depression, perhaps you personally are not in a depression but there are millions of workers in construction, in the automotive fields, real estate professionals, mortgage brokers, and retail who would argue the point.
I'm actually losing my job in a few months because our IT department is being outsourced to India - so I could say for me personally it IS a depression.
But I am still optomistic...
I will get another job, and the economy will improve..
We are NOWHERE NEAR the level of despair of the Great Depression.
I'm actually losing my job in a few months because our IT department is being outsourced to India - so I could say for me personally it IS a depression.
But I am still optomistic...
I will get another job, and the economy will improve..
We are NOWHERE NEAR the level of despair of the Great Depression.
Even in the Great Depression unemployment reached 30% but that meant 70% of the population was employed.
I agree we're no where the level of the Great Depression -- but we could quickly get there. It's kind of hard to compare with that generation because they were putting cardboard in their shoes to keep out snow and rain, and they'd line their frayed coats with newspaper to cut the wind. Oranges were considered a rare treat.
Maybe we have a way to go -- but if it all crashes, we could reach that point quite quickly.
Rollingstone? look arund you do you see a depresion here;I certainly don't.As to the cause in isn;t just wall street they had millions of co-conspirotors of geeedy ameicans ;some to dumb to play the game. Just look at debt taken on ;the average spending verus income of the average.Main street was bankrupt long before wall street from greedy spending on credit. Main street was fist and that left wall street holding bad assets of main street.It maybe the end of a lifestyle for many that could never afford that lifestyle except on credit.Others will loose it because of those people and others will do fine IMO.
I keep getting offers for more credit and 0% interest credit offers. For most people nothing has changed -- that certainly doesn't make it easier for those who have lost jobs but many people still make the same wages, have the same fixed rate mortgage they've been paying for 10-15-20 years.
The bursting of the housing bubble still meant 90% of mortgages were current, being paid on time.
People who think this is a depression will be in for a very rude awakening if we get into a real depression. Unemployment rates are just now reaching the levels of the late 1970s recession.
Until welfare and social securty and other entitlements are curtailed and cut back along with government then the tax struture will continue to climb until 90 % of everything is taxed. The only way the government can pay any of the above is to take the funds from another worker or tax the property that person holds. Large government the more taxes to be paid.
The Clinton administration changed the CRA to facilitate the lending to the less creditworthy. The neighorhood bank now had obligations to provide subprime loans to a certain ratio to regulate how many uncreditworthy customers they gave loans to by law. These BS crap loans are not something you want to hold on to or have in your profolio, being a public traded company. Which people should take to heart as we nationalize. Think about it.
This gave rise to the secondary market for this toxic debt. The toxic debt was wrapped up in a cute little financial vehicle which the financial sector secured as having a triple A rating. The logic was insiders knew it was a housing bubble so they supported and rode it out, speculating until it burst; the reassurance and selling point was that in the long run, eventualy these properties will be worth something of equal value in 10, 15, 20 years?
Thats how this admin still sees this debt.
Until the honest short term value of these debts are devaluated, until the uncreditworthy are denied loans and the financial vehicles they package the uncreditworthy's debt into is ceased to be traded on the global market, this subsidization will remain our tax liability and an impident to global financial growth. Thats how the economy will continue to implode.
Even in the Great Depression unemployment reached 30% but that meant 70% of the population was employed.
I agree we're no where the level of the Great Depression -- but we could quickly get there. It's kind of hard to compare with that generation because they were putting cardboard in their shoes to keep out snow and rain, and they'd line their frayed coats with newspaper to cut the wind. Oranges were considered a rare treat.
Maybe we have a way to go -- but if it all crashes, we could reach that point quite quickly.
Look at the bright side of things. We're going to end Global warming with Cap and Trade! We don't need to burn all that nasty coal anyway. We'll just turn off all the lights and freeze in the dark.
Look at the bright side of things. We're going to end Global warming with Cap and Trade! We don't need to burn all that nasty coal anyway. We'll just turn off all the lights and freeze in the dark.
You have heard of "Alternative Energy" right?
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