Economic Crisis; Solutions

[charles brough]

Originally Posted by Buffy

Would you care to back up this claim?

Can you point to a specific bill that was passed or Bush Administration policy directive that caused this to happen?

Even if it were true, can you explain why Bush would have implemented such a policy?

I do recognize that for about 48 hours that this was a conservative talking point repeated by Rush, Sean and Michelle, but there's a reason that it is no longer a talking point...

Blinding ignorance does mislead us. O! Wretched mortals, open your eyes!
Buffy

ABsolutely, a good point! Every cause of this credit collapse is due to lack of regulations, and gov. people being bribed by corporation lobbyists not to enforce what regulations there are.

Strange how the so-called "Liberal" media avoids placing blame where it is due and the corporate Libertarian mind set still rules 95% of the Republicans. No wonder that the Stimulus bill just barely made it through Congress even after the 2nd economic crash in the same single damned Republican Administration!

[goku]

wasn't it clinton that made loans easy to get?
didn't he say that he wanted every american to own a home?

things are gona have to git a whole lot worse before they'll ever get any better.

fair tax is a great idea, i think. you buy something, you pay tax. the more expensive, the more tax.
even the illegals would be paying taxes! it would work and that is why it didn't get pasted.

WAKE-UP PEOPLE!
the government doesn't want to fix anything, they want everyone dependent on them.
how else could america be distroied?

save us obama! save us!............ sickening!
people wanted change, by george they gona git it.

i specially liked how obama talked about the "same old government with the same old players" wouldn't change anything. now look at his advisers and cabinet members, bout everyone of them also worked for clinton, except for hillery

sorry didn't mean to rant, big can of worms there.
love the thread, great topic

[charles brough]

Hi!

We already do depend upon government. It is the only thing we have to defend us against big business. It wants to incorporate government away from us. Government provides a social safety net that keeps people from starving to death when infirm or aged. That is not cost effective to corporations shaped only for quarterly profits. They would have us believe their fantasy doctrine that business can replace the state! Its never happened in human history and they would tear down our Constituted government trying to achieve the impossible.

[LaurieAG]

Hi Goku,

Originally Posted by goku

the government doesn't want to fix anything, they want everyone dependent on them.
how else could america be distroied?

If we look into the main changes over the past 20 years or so we can see what started the ball rolling with regards to the Global Financial/Economic Crisis, from the Australian perspective.

(1) Robert Maxwell used 800 million of his employees superranuation/pension fund to prop up his empire. Now that is legal courtesy of the Ex Prime ministers brother and National textiles.

(2) In 1991 Bank Fees and Charges were just starting to be introduced by our banks and only reaped millions. With no concern about double/trebble dipping etc (leveraged leasing and depreciation) from the government they now reap tens of billions per annum.

(3) Our Hospitals/Schools/Universities had the fiscal leadership functions removed from the chief specialists and senior practical experts in the field (Deans, Surgeons, Headmasters etc). These functions were replaced with Administrations that had as their major priorities concentrating power and the empire building typical of rampant bureaucracy.

So now, as the vehicles of our society race towards the chasm, the solution is to step down the accelerator even harder than before, in some fantasy solution straight out of hollywood. With happy bought out passengers their only idea is the counterintuitive gamble, keep on doing what caused the problem and escalate it, double or nothing.

What lies on the other side of this chasm that our politicians? is it nirvana, utopia or economic hell?

The only really responsible thing to do is to Audit the global financial system and put the stake through the heart of any financial instruments/ploys that only work when the market is going up. This is the big decision our politicians avoid like the plague because they are in denial that they caused the problem in the first place.

In view of our global politicians collective myopia the only real solution available today is the other side of the chasm. As I said earlier, all of the funny money, once their mechanisms have been disabled and disallowed, when bought out by the global governments, should all be rolled into the Mars Colonisation and Mining Company as long term investments.

At least in 20 to 30 years they should be worth something that can be used to pay back the public for our politicians incompetence.

[goku]

most people i know, family and friends, have been seeing this coming for many years.
sub-divisions one after another, $400 to $600 thousand homes, land at $20 to $50 thousand per acer.
there is not enough people, with the money and means, to buy these homes.
now the homes are empty. the banks are left to fit the bill cus the contractors walked away.

and high gas prices didn't help. i think we should drill our own oil, stop sending all our money to terrorists. they don't like us anyway.

if gas was $.50 a gallon, people would have more money to pay bills. i know i would.

[Moontanman]

Originally Posted by goku

most people i know, family and friends, have been seeing this coming for many years.
sub-divisions one after another, $400 to $600 thousand homes, land at $20 to $50 thousand per acer.
there is not enough people, with the money and means, to buy these homes.
now the homes are empty. the banks are left to fit the bill cus the contractors walked away.

and high gas prices didn't help. i think we should drill our own oil, stop sending all our money to terrorists. they don't like us anyway.

if gas was $.50 a gallon, people would have more money to pay bills. i know i would.

I can see this happening where I live as well, but in our area we see people coming from areas where real estate is much more excessive and with money they get by selling their property in high price areas. This drives up property values beyond which anyone local can afford, this also drives up property values as well and taxes. prices spiraling upward faster than and higher than the real value is a very bad thing.

I would like to ask where you would like to drill to supply oil to the US, we have only a small fraction of the oil we need to supply us with gasoline. No amount of drilling will bring up oil that is not there.

[goku]

the rockies, follow this USGS Release: 3 to 4.3 Billion Barrels of Technically Recoverable Oil Assessed in North Dakota and Montana’s Bakken Formation—25 Times More Than 1995 Estimate— (4/10/2008 2:25:36 PM)

[Moontanman]

Ok goku, if you could get it all at once, unlikely, that would be about six months of oil for the US.

[charles brough]

Originally Posted by LaurieAG

The only really responsible thing to do is to Audit the global financial system and put the stake through the heart of any financial instruments/ploys that only work when the market is going up. This is the big decision our politicians avoid like the plague because they are in denial that they caused the problem in the first place.

Everyone blames the politicians but it is the fickle populace that elects them and the corrupt big business that pays them off. Actually, our government is our only protection from rapacious corporations bent not on serving anyone but their officers and stockholders. You you are right, the government has failed to do that and has taken to high living like the CEOs. That raises two issues: 1. why has everyone become so greedy? and 2. What if anything can be done about it?

charles
the Atheistic Science Institute - home page* *

[Moadib]

In 2001 HUD move passed proposals to have 50% of their loans going into low to moderate income and 1 point above what normal bank loans. i dont recall the exact act but ill look it up and put it up later