It's a whole new ballgame!

Discussion in 'Economy' started by Richard-H, Sep 17, 2008.

  1. Richard-H
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    Richard-H Gold Member

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    Pretty much everything that everyone has and is arguing on this message board and throughout the country is now superfluous.

    We are now in the beginning of an uncontrolled wildfire that's storming through western civilization's economic system. So far they cannot isolate and contain it. Hopefully, they will, but it's I'd guess there's of 75% chance against it.

    The entire financial basis of of the West's economy consists of interdependant investments by large corporations (i.e. institutional investors).
    As one institution falls, it brings down hundreds of others.

    The ONLY thing that matters in this election is which candidate can best implement CATASTROPHIC ECONOMIC CRISIS MANAGEMENT. Which one is willing to stay ahead of the curve of this economic crisis by implementing RADICAL economic measures. Those measure may be reversed as the crisis subsides, but if they are not implemented we are not only going to have an 'economic' crisis, but the largest HUMANITARIAN CRISIS THE WORLD HAS EVER KNOWN.

    Yes, the sky really is falling.
     
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    Last edited: Sep 17, 2008
  2. Chris
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    Chris Gold Member

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    But John McCain says that the economy is "fundamentally sound."
     
  3. editec
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    editec Mr. Forgot-it-All

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    I warned people on Sunday night that Lehman was going down.

    I noted that same night that AIG is toast.

    They freaking confiscated AIG, for gods sakes.

    Do our board mates NOT realize that?

    Apparently not, Richard-H.

    I'm glad there's at least a few of us on this board who understand how weird the relationship between the banks and the government has become in the last few weeks.

    It appears that the rest of this crowd is still so enamored slinging shit at each other over the shadow puppet show that is our election, they don't realize the theater is on fire.

    Can you believe the way they dealt with AIG?

    These are free market capitalists!?!

    If any neo-cons asshole on this board ever has the unmitigated termitity to tell me they or their party are free market capitalists I'm going to laugh in their ignorant faces.

    The Fed took over AIG like stormtroopers. AIG stockholders and debtors got screwed but not kissed.


    What country are we living in, Richard?

    Seriously, I have no idea, anymore.

    People are buying T-bills as a flight to safety?

    Are they for real?

    Based on what just happened to AIG, there is no safe haven from the government averice, right now.



    The risk of these real estate bonds is not so bad, but since the market is dead, nobody can prove it.

    Every bank holding those bonds is at risk of not seeming liquid and being taken over if they keep playing this accounting fiasco out.
     
    Last edited: Sep 17, 2008
  4. dilloduck
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    dilloduck Diamond Member

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    chill out you ninny--what did you expect people to do to stop it ???
     
  5. del
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    del BANNED

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    thanks for keeping a level head and an open mind.
     
  6. Chris
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    Chris Gold Member

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    Nice post.

    George Bush and his gang of idiots have almost destroyed America. Let's stop them before it's too late.

    Go Obama!
     
    Last edited: Sep 18, 2008
  7. Richard-H
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    Richard-H Gold Member

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    That's the weird thing about 'free-market' capitalism - it has a down side equally as bad as it's upside is good.

    Right now we need a government that will prepare for the WORST. If it doesn't happen - hey that's great. But if they aren't prepared we are all in for HELL.

    The top priorities of te government should be:

    -Keeping people in their homes - do not let mass homelessness happen.
    -Keep people in jobs - keep production going and don't let them fall into listless existence
    -keep the fundamental products and service going - food, heating oil, medical services, schooling etc.

    We may go thru a period unlike we have ever imagined. But, with good crisis management, we can return the economy to what it once was.

    If they government consistently acts in a reactive instaed of a proactive way, we will all be screwed.
     
  8. Navy1960
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    Navy1960 Senior Member

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    I love how democrats are trying to distance themselves from this mess on Wall Street. as if they had nothing to do with it. Lets see who is the head of the Banking Commmitee? Thats right, Barney Frank a democrat, oh yes, in the Seante, lets see, who is that, Chris Dodd, , why yes another democrat, this one happens to be a democrat who has his hands so deep in PAC money from Fannie/Freddie he is no. 1 on the list. Same guy is on the VIP customer list at Countrywide and had to give back money he took on under the table loans. Lets see, , now the democrats are out there blaming Phil Gramm because of the S.900 passed in 1999. I wonder who signed that and said it was a great steep forward for progress? Oh yes, thats right, Bill Clinton, another Democrat. What was your current candidate doing three years ago when John McCain called out the warning signs on this? Well he was asking for low interest loans from Fannie/Freddie for poor people. So this righteous anger over what the Republicans have done, is a complete bunch of of manure. Barack Obama is pointing fingers on his webpage at McCain for his asoication with Charlie Black, but you hear nothing of the numereous people that work on his campaign i.e. the VP vetting of Joe Biden etc etc .etc. . and the fact that who is number #2 on the PAC money hit parade? why yes thats Barack Obama too. This doesn't matter though... It's all about *change* thought right?
     
  9. oreo
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    oreo Gold Member Supporting Member

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    Nice try--but McCain stated--that our work force, meaning the American working class people are fundamentally strong--which is correct. McCain never said our economy is fundamentally strong. Obama picked it up & ran with for people like you, who really do not pay attention. In fact he counts on people like you.

    McCain has repeatedly stated that our economy is very shakey & that he knows there are Americans suffering.

    It's not the American people that have screwed this one up, it's the government that has done it.

    The Government is not the SOLUTION, it's the PROBLEM! "Ronald Reagan"

    How much further evidence do we need?
     
    Last edited: Sep 17, 2008
  10. oreo
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    oreo Gold Member Supporting Member

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    If the government would have stayed out of the Mortgage Loan business we wouldn't be in this mess, would we? Don't blame "free-market capital"--that works, our government doesn't.

    An example--if you have a small town banker looking at you for a mortage loan, & this bank does not have the US government guaranteeing your mortgage loan, you will be scrutinized as to whether or not you can re-pay the loan. If your credit is bad, if you have no down payment, & you can not afford to repay the loan you don't get the loan. This is the way is it suppose to work. It's worked for decades, until the Federal Government got involved in the mortgage loan business.

    I really don't feel like bailing out people who KNOWINGLY bought homes they could not afford in the first place--or placed a bet on long term interest rates, that they would go down & not go up. In other words, I don't think it's up to us the taxpayers of this country to insure for STUPID people. I also don't feel like bailing out investors on their flip & turn for PROFIT homes, that they never even lived in. I struggle to make my mortgage & bills each month, like 94 million other homeowners in this country who are not in fore-closure. If you want to pay for them, dig out your own check book & do it.

    Imagine the Federal Government getting involved in Universal Health care, like Barack Obama is proposing.
     
    Last edited: Sep 17, 2008

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