The hard truth

Discussion in 'Economy' started by MaggieMae, Oct 24, 2010.

  1. MaggieMae
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    MaggieMae Reality bits

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    Take off the rose-colored glasses and stop playing the blame game.

    Appearing in FORTUNE magazine, October 15, 2010:

    Who can magically fix the economy? No one - Full version - Oct. 15, 2010
    More at link.
     
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  2. California Girl
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    Wow. No one can magically fix the economy. Who knew?


    Except that's what some of us have actually been saying - and getting shouted down for.

    I await some honest posters to recognize that no one person is responsible for the fucking mess we are in.
     
  3. Truthmatters
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    Its not one person its one set of ideas that caused this.

    They are the republican ideas of deregulation and unfettered markets.
     
  4. Annie
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    Annie Diamond Member

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    Well it would sound better if that had been acknowledged all along, that the mess wasn't all the 'other party.' Or that all the spending wouldn't actually, ya know, stimulate much other than more spending.
     
  5. MaggieMae
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    MaggieMae Reality bits

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    You can't blame just Republicans for a way of life among ALL OF US (the debtor's life) that has been going on for many years. READ THE ARTICLE!!!

    Did Democrats take risks too? Of course they did. And how did the average Joe (who might have been a Republican OR Democrat) finance his risk taking in the stock market? The ol' credit card, that's how. Like it or not, it was the people who kept investing in these bogus securities that kept the scam alive!!
     
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    Last edited: Oct 24, 2010
  6. MaggieMae
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    Sorry, but I've followed this economic tragedy going way back to the collapse of Bear Stearns, and have read hundreds of viewpoints as to the "cause," and of course they followed along party lines. The WSJ would spin it one way; the NYT another. But all sorted out, it was a combination of failed practices of both the private and public sectors supported by BOTH parties all along the miserable trail leading to the eventual meltdown. As for the solutions put in place by Bush and Obama (TARP) and the stimulus package (Obama), there was really nothing to do but hold my breath. Something had to be done. Only time will tell how successful those bandaids were.
     
  7. Annie
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    Annie Diamond Member

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    I agree with the reasonableness of your analysis. Shocking I know. ;) Anyone that reads with a bit of skeptism would come to the same conclusion. However, I guess I am addressing only partisans on both sides, whether in media or even something with limited impact like this messageboard.

    As for the stimulus, I think that's pretty much already determined, at least in my opinion. TARP to some degree was needed, the stimulus? No. In fact probably has caused more problems, with more to come in the coming years.
     
  8. MaggieMae
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    Appearing in US News and World Report, owned by Mort Zuckerman, and therefore considered more conservative than its competition, this article tends to disagree:

    5 Campaign Fibs About the Economy - Rick Newman (usnews.com)
     
  9. California Girl
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    No, dear, it wasn't. But don't let fact get in the way of your rabid hatred of Republicans.
     
  10. Annie
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    Annie Diamond Member

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    Well as I said, what I wrote was my opinion. I've been wrong before, certainly will be again. True too, I have been right a few times. ;)
     

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