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50 years of "What's good for GM (and Exxon/Mobile and the military and Lehman and Bear Stearns, and Worldcom and Enron etc and etc and etc) is good for American" corporate welfare capitalism is crashing down. Hopefully the moral bankruptcy of the American plutocracy socializing risk and concentrating wealth among a few privileged white elites and the military is becoming crystal clear. This will NOT be another American century.
Just as a bloated military (and Reagans oil manipulation) almost drove the USSR bankrupt it will do the same here. This is the beginning of a massive transfer of wealth from the US to the rest of the world esp. oil countries. American colonialism and hegemony are in their final act. Commodities will resume a historic boom (no it's not a bubble) and chaos will rule. Get in the lifeboat while you can. Nixon, the Bushes & Reagan will prove to be the biggest contributors to America's downfall, not some dipsh*t rag-tag al-Qaeda goons with box cutters.
I hardly think you can blame it all on the Republicans, since the Clintons were in power for eight of the boom-boom bubble-bubble years. And, no, it's not the Clintons fault, either. It's not a partisian issue... and politics plays only a partial role. Joe Middle Class sowed a lot of the seeds that are now being reaped. Who do you think took out all those liar loans that started the snowball?
Nixon, the Bushes & Reagan will prove to be the biggest contributors to America's downfall, not some dipsh*t rag-tag al-Qaeda goons with box cutters.
Just as Clinton can be "blamed" because the repeal of Glass-Steagall occurred on his watch? I think not! That depression-era Act mandated separation of retail banking and investment banking. If it had not been repealed, we would not be in the mess we are in.
Miscreants and mischief-makers abound under all administrations. Where there's a quick buck to be made...
Just as Clinton can be "blamed" because the repeal of Glass-Steagall occurred on his watch? I think not! That depression-era Act mandated separation of retail banking and investment banking. If it had not been repealed, we would not be in the mess we are in.
Miscreants and mischief-makers abound under all administrations. Where there's a quick buck to be made...
Bla,
Who cares if it was Nixon's fault, Bush's fault, Clinton's fault, Joe-Six-Pack, wine sipping yuppy, or corporation's fault.... what are we going to do now?
I'm sure some are running away and hiding.... I'm sure some are shoring up finances... I'm sure some are doing far worse (the suicide rates have probably gone up)... but what are we, the remainder going to do?
You know, that's a very good question! I wish I had all the answers. I don't.
We do need to start conserving cash; that's number ONE. No more coffee lattes, no more trips on exotic vacations, no more iPhones. We have cut back a great deal, while just waiting this out, to see what's going to happen next. Nobody really knows, it seems.
Second, secure your income. If you're in a job you hate, tough it out a little longer till something better comes along - IF anything better comes along!
Third, become more pro-active about protecting what assets you do have. You may need them, soon. I'm talking about cash in banks, credit unions, stocks and mutual funds you hold in a self-directed IRA - basically, any money you have some control over. If you are not comfortable where it is, take it out. It won't be the end of the world (whereas losing it, might be). Just don't tell anyone. Stash it safely and it will be there for you when the sun shines again.
Capitalism and market theory suggests that when something gets far enough out of line, the market will correct itself. Obviously, things got waaaaayyyy out of line. It's over due.
Some recessions hurt more than others. Tighten the belt, save what you can, try to avoid going into unnecessary debt, and trust that this too shall pass...
like usual, the remainder are going to do what they always do, just like they did during stagflation and the great depression. they're going to work their ass off and keep things running while never being thanked or duly compensated for keeping america from collapsing on itself while a bunch of rich people look for someone to blame for losing a buck while beginning to feast off someone elses corpse to build the next bubble.
unfortunately, obama and mccain are not the strong executives we need to say to the dying companies while letting capitalism take its course while not putting more burden on the taxpaying public through buyouts and bailouts. that would make a drastic difference
Last edited by Waterlily; 09-18-2008 at 12:47 AM..
Reason: watch the words you use
Republicans actually planned this economic downturn to see if Alex Baldwin will actually leave the U.S.? My money, if I have any after this is all over, says he will not.
Blame Bush, blame Clinton, no difference between the two or the parties. They are all greedy and guilty. Same circus, different clowns.
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