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Old 01-16-2008, 05:50 PM
 
893 posts, read 562,731 times
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Tonight on the news they announced that other countries are coming to save our financial institutions. God save us when they are owned by everyone but us. Little did we know on 9-11 the true impact of which it would cause.
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Old 01-16-2008, 05:58 PM
 
Location: Los Angeles Area
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Quote:
Little did we know on 9-11 the true impact of which it would cause.
Huh? This has nothing to do with 9-11. It has to do with americans and the US government spending other peoples money (those people in other countries).

As a country you can't stop producing useful things and exchange useless paper for real products forever. Our Chinese etc overlords are just taking what is theirs.
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Old 01-16-2008, 06:05 PM
 
893 posts, read 562,731 times
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Quote:
Originally Posted by Humanoid View Post
Huh? This has nothing to do with 9-11. It has to do with americans and the US government spending other peoples money (those people in other countries).

As a country you can't stop producing useful things and exchange useless paper for real products forever. Our Chinese etc overlords are just taking what is theirs.
Did interest rates and car loans not get lowered to stimulate the economy after 9-11. Everybody was suppose to be able to buy a house, lets give everyone a loan so it's affordable. That is exactly when the major problem began.
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Old 01-16-2008, 06:42 PM
 
Location: Los Angeles Area
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Did interest rates and car loans not get lowered to stimulate the economy after 9-11
No they didn't. Firstly financial institutions set the interest rates on car loans etc. Of course the rate for consumer loans is effected by things like the fed funds rate, but the fed funds rate was already lowerd by 250 points BEFORE 9-11. Anyhow the rates went down because the fed was pumping money into the economy due to the stock market crash of 2000-2001.

Anyhow, it has little to do with 9-11.
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Old 01-16-2008, 07:45 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,522,125 times
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I blame World War 1, 2 and Vietnam. They have about as much relevance to a housing speculation bubble popping...as 9/11 does.

What we are doing now is called "selling the cow to buy milk."
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Old 01-17-2008, 07:32 AM
 
123 posts, read 82,350 times
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Quote:
Originally Posted by 70Ford View Post
I blame World War 1, 2 and Vietnam. They have about as much relevance to a housing speculation bubble popping...as 9/11 does.

What we are doing now is called "selling the cow to buy milk."
Maybe I understand the OP's impetus for mentioning 9/11. After 9/11, we had a recession that was amplified by the excesses of the dot bomb era. As a result, tax cuts were implemented, as well as additional Fed rate cuts. While tax cuts are always welcomed by unapologetic capiatalistic such as myself, it wasn't brought in with spending cuts. On the contrary, this particular fiscally ultra-liberal administration ran up massive deficits with nonessential bureaucrats institutions and a Medicare bill that was some sort of frankenstein of corporate interests and Leninist idealogies, mostly to garner senior votes for the neo-conservative cause, IMHO. Tax cuts + spending increases = worthless dollar. At least with tax increases, while you'd get less investment in domestic growth, you'd get consumers curtailing their insane behavior of spending themselves to oblivion.

Only a super fiscally conservative belt-tightener will save us. We all know who that is, but unless he pulls off a miracle...
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Old 01-17-2008, 10:09 AM
 
Location: western East Roman Empire
8,067 posts, read 11,852,583 times
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Originally Posted by Shazam72 View Post
Only a super fiscally conservative belt-tightener will save us. We all know who that is, but unless he pulls off a miracle...
I totally agree with the bulk of your post, but please excuse my ignorance on this last part. Who is he?

Are you referring to Ron Paul? What about McCain, do you think he would be a big spender?

Is any candidate talking about a fiscal policy package that would stimulate a return to low/medium level technology?

If so, I haven't noticed. What I've heard so far, from either side, sounds mostly like poppycock.
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Old 01-17-2008, 10:43 AM
 
Location: western East Roman Empire
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Quote:

As a country you can't stop producing useful things and exchange useless paper for real products forever.

What we are doing now is called "selling the cow to buy milk."

Tax cuts + spending increases = worthless dollar.
All these comments are spot on and worthy of rep, capturing in an economy of words this "sad state of affairs".

But now the question is, what can aware but otherwise common people do, if anything, to shift the terms of the debate in what is quickly becoming a hapless country for many?

How can you convince, or even communicate with, millions of easily swayed, television-watching "consumers" to change the way that they manage their households (economics), or even to begin to manage them for themselves, on reasonable, realistic terms?
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Old 01-17-2008, 11:10 AM
 
Location: Sitting on a bar stool. Guinness in hand.
4,429 posts, read 5,946,550 times
Reputation: 1713
Default tough love

Quote:
Originally Posted by bale002 View Post
How can you convince, or even communicate with, millions of easily swayed, television-watching "consumers" to change the way that they manage their households (economics), or even to begin to manage them for themselves, on reasonable, realistic terms?
You can't. This is why in a sense this recession (It already here folk) is a good thing. It will force the the sheople to take account what they spend and what they spend it on. I just hope it bad enough to leave a long lasting memory so that we won't repeat ourselves in the future.


Tough love guys, It works sometimes.
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Old 01-17-2008, 11:28 AM
 
3,698 posts, read 10,579,764 times
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No president or Congress will save us.

Americans have to realize that borrowing money to buy consumer goods is stupid.
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