Fellas... you guys think we're in a recession?

[Horchem1972]

Stimulus plan is a joke.

The whole stimulus plan is a joke.The banks are coming out ahead more now than ever.They were given money to offset their bad mortgage practices.Now they not only received that money but all of the foreclosed properties as well.Even if said properties are sold below initial loan value,they will make more money in the long run.They not only have the so called stimulus money,but they also have the resell money from the foreclosed properties.They say this economy has given them "so called" reasons to raise interest rates across the board.The only people really coming out ahead is big business.This recession is not on the uprise.The unemployment figures will continue to rise and hardships increase.There are millions of people who are about to run out of unemployment benefits.When this happens you will see foreclosures spike to record levels.They expect you to replace a $20 and hour job with minimum wage.I would like everyone to figure out their bills and then replace your salary with minimum wage figures.Many of you will not be able to continue paying all of your bills.Please do not judge many of these people in financial trouble.Many are honest,hardworking individuals that have always paid their bills.When you go from $50,000 a year to $20,000 they have to let most of their possessions or investments go.That is the true state of the issue and their burden.Imagine having to let everything go just to feed and shelter your families.

 

[C.A.P]

Well said Horchem !

 

[Beakman]

And will you all remember this come next election, whether local, state, or national? Will you remember that the vast majority of the 2 dominant parties couldn't elbow each other out of the way fast enough to create this "stimulus"? Will you remember to think, act, and vote outside the box to end this pseudo 2 party hegemony? Will you take a chance or continue to live in the comfortable well ingrained mindset of status quo?

 

[amey01]

I remember this thread.......funny to look back now.......ummmm...YES. That was a recession!

Interesting thread. I've never really thought about what exactly the [url=http://www.chacha.com/category/definitions]Definition[/URL] of recession and/or depression is. I'm thinking one can't really exist in the truest sense of the word.

A recession is defined as a certain number of months of continued (negative) economic growth. That is - sustained economic contraction.

 

[Len44]

I remember this thread.......funny to look back now.......ummmm...YES. That was a recession!

A recession is defined as a certain number of months of continued (negative) economic growth. That is - sustained economic contraction.

Very slow recovery, especially in terms of job growth.

I hope we will all remember those who got us into this mess -- as well as those who have striven to get a recovery going and overcome the obstacles and negativity strewn in their path...

 

[repman]

Very slow recovery, especially in terms of job growth.

I hope we will all remember those who got us into this mess -- as well as those who have striven to get a recovery going and overcome the obstacles and negativity strewn in their path...

If we are looking for blame there is enough to go around on both political parties however the main culprit is the Clinton administration who under Alan Greenspan , Robert Rubin, and Larry Summers allowed the unregulated proliferation of derivatives. Brooksley Born warned of the negative impact she saw coming from them and was hushed by Greenspan and the Clinton administration.These were allowed to go unchecked for almost 10 years thru the Clinton and Bush adminstration until we are we we are now.
I think both the Dems and the Republicans share the blame for this mess we are in. If you doubt what I am saying watch the documentary "Frontline the Warning" it is on Netflix instant viewing or DVD you will see the history of this mess from a unbiased nonpartisan viewpoint, Not talking points from partisans.

 

[robertawillisjr]

I second that advice to watch the Frontline program.

 

[eknuds01]

Another great read is Morris's The Two Trillion Dollar Meltdown.

...of course it's a lot easier to avoid reading (and thinking) and just continue to blame Bush.

 

[Jimna]

Its not his fault, its everyone who voted for him....twice.


http://www.youtube.com/watch?v=7Ur-pzbUkVg

 

[robertawillisjr]

This was coming simce Carter first agreed to airline deregulation. Actually since the depression when so many regulations were enacted to protect us from the greedy.

 

[repman]

Its not his fault, its everyone who voted for him....twice.


http://www.youtube.com/watch?v=7Ur-pzbUkVg

Why dont you educate yourself on the facts instead of just partisan dribble, as I said there is enough blame to go around . I suggest you look into the facts.

 

[Len44]

If we are looking for blame there is enough to go around on both political parties however the main culprit is the Clinton administration who under Alan Greenspan , Robert Rubin, and Larry Summers allowed the unregulated proliferation of derivatives.

Well, I would certainly agree that there are plenty of folks to blame. However, it is hilarious (and sad) that you would seek to blame Clinton and completely ignore "Saint George," aka "Shrub" and His role in this mess. Bush was "Front & Center" in this, yet some want to completely absolve him of the role he played in doing great harm to Our Country.

(I know, I know, Clinton was not part of the "Washington Establishment" and usurped Daddy Bush, and a certain group of nutzoids never forgave him).

Interestingly, the Republican Alan Greenspan was appointed by President Reagan -- not President Clinton, as might be inferred from your comment above. President Bush (GHW) and President Clinton were both highly pressured to reappoint him to subsequent terms as Chairman of the Federal Reserve, being warned of the dire consequences that would result if anyone else were to be selected to run the Fed.

Of course, as it turns out, Mr. Greenspan was wrong about a number of things.[/QUOTE]

Brooksley Born warned of the negative impact she saw coming from them and was hushed by Greenspan and the Clinton administration.

Smart Lady -- they should have listened to her. :bowdown: I guess we would both agree that she was a brilliant appointment of President Clinton's.

These were allowed to go unchecked for almost 10 years thru the Clinton and Bush adminstration until we are we we are now.

I guess by your count that would be...what? Two years in the Clinton Administration and Eight Years under the Bush Administration?

At least in the Clinton administration there was a voice warning of disaster, and dissent was allowed or even encouraged. No such luck, it seems, during the Bush reign.

I think both the Dems and the Republicans share the blame for this mess we are in. If you doubt what I am saying watch the documentary "Frontline the Warning" it is on Netflix instant viewing or DVD you will see the history of this mess from a unbiased nonpartisan viewpoint, Not talking points from partisans.

Yep, hard to disagree with the Frontline Report. However, most people seem to realize that the Bushies were the cheerleaders for not wanting to regulate much of anything, and for allowing Big Business, and, especially, Big Banks (that were "Too Big to Fail") and Wall Street to pretty much do whatever they wanted and to generally run amok -- which of course they did.

And now for a general comment: I just do not understand this crazy, over-the-top hatred some people harbor for President Clinton. He was a terrific President. And very intelligent.

His Presidency -- and the anger by some that he was elected -- seemed to coincide with an "Era of Bad Feeling", or unusually hyper partisan politics. I look at Newt and his cronies of the time, and the snarling wolfpack-like mob mentality when they thought they could get rid of Clinton through the impeachment process, but instead w-a-y overplayed their hand.

Just a big disappointment, which only got much worse after Bush II became President. Whatever happened to the Ronald Reagan and Tip O'Neil and the President consulting with leaders of the opposition party and real statesmanship? You know, acting in the best interests of the United States of America, instead of cheap political positioning to win points for the next election. In truth, I am utterly dismayed with what I see these days on the part of many of those who should (and do) know better.

We all deserve better.

 

[Len44]

Its not his fault, its everyone who voted for him....twice.


http://www.youtube.com/watch?v=7Ur-pzbUkVg

AMEN! And, AMEN!!!

But I will admit that he was actually elected...in 2004!!! :devil:

 

[Len44]

Another great read is Morris's The Two Trillion Dollar Meltdown.

...of course it's a lot easier to avoid reading (and thinking) and just continue to blame Bush.

Well so far I've read the reviews of the book on Amazon. Mildly interesting.

BTW, are you suggesting Bush is blameless in all this?

 

[JMAUSGP]

I am afraid that we have gotten to the point where the only difference between the Republicans and the Democrats is which part of your life or wallet they want to control.

IMO neither party has leaders capable of leading us out of the darkness.......sorry guys, but doom and gloom is in our future, at least that's what my gut tells me and my gut has been pretty accurate for the last 30 years.

Didn't mean to pick sides, but my opinions of politicians just keeps going down and down, just like the economy and just about everything else that government touches.

Sorry, back to the discussion.

 

[repman]

I am afraid that we have gotten to the point where the only difference between the Republicans and the Democrats is which part of your life or wallet they want to control.

IMO neither party has leaders capable of leading us out of the darkness.......sorry guys, but doom and gloom is in our future, at least that's what my gut tells me and my gut has been pretty accurate for the last 30 years.

Didn't mean to pick sides, but my opinions of politicians just keeps going down and down, just like the economy and just about everything else that government touches.

Sorry, back to the discussion.

I could'nt agree with you more, that of course is what I was trying to point out that all those who blame just one party or person are foolish partisans and not very well informed. As I stated this mess is a true partnership between the Dems and the Republicans.

 

[eknuds01]

Well so far I've read the reviews of the book on Amazon. Mildly interesting.

BTW, are you suggesting Bush is blameless in all this?

He's not blameless, but the underpinnings of the credit meltdown go back beyond his time at the helm. The credit meltdown was the result of a variety of complex problems (shadow banking industry, the securitization of just about anything - CDS, CDOs, etc) and a number of people are at fault: the banks, the regulators, greedy people who used their homes at ATMs, predatory lendors hawking interest only loans to people who had no business owning a home - you name it.

 

[Jimna]

Why dont you educate yourself on the facts instead of just partisan dribble, as I said there is enough blame to go around . I suggest you look into the facts.

What do you know of my eduction on the matter? If you voted for him, your to blame, period. I know its hard to except a mistake of such monumental proportions(let alone doing it twice), but its true all the same.

The point of the youtube video is the simple fact that no man as mentally bankrupt as him should ever be the president of this country, but thanks to blind partisan voting and the religious idiots in this country who will vote for anyone willing to say "God Bless America" after each speech that we have that gem of a video(and many more because he truly was a jackass 24/7 and that is not just one bad day) to use as example to our children.

This isn't about republican or democrat, its about how so many people were so foolish to vote for him twice.

 

[tonepub]

I am afraid that we have gotten to the point where the only difference between the Republicans and the Democrats is which part of your life or wallet they want to control.

IMO neither party has leaders capable of leading us out of the darkness.......sorry guys, but doom and gloom is in our future, at least that's what my gut tells me and my gut has been pretty accurate for the last 30 years.

Didn't mean to pick sides, but my opinions of politicians just keeps going down and down, just like the economy and just about everything else that government touches.

Sorry, back to the discussion.

Well put! Gotta agree with you there.....

 

[robertawillisjr]

I am afraid that we have gotten to the point where the only difference between the Republicans and the Democrats is which part of your life or wallet they want to control.

IMO neither party has leaders capable of leading us out of the darkness.......sorry guys, but doom and gloom is in our future, at least that's what my gut tells me and my gut has been pretty accurate for the last 30 years.

Didn't mean to pick sides, but my opinions of politicians just keeps going down and down, just like the economy and just about everything else that government touches.

Sorry, back to the discussion.

We have plenty of leaders, we don't normally elect them. When we somehow manage to put good people in office, we don't support them. To do any positive things for the country means some pain must come for everyone. Unfortunately, people don't mind if others are in pain BUT complain when the pain comes their way.