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They didn't call it the Great Depression until......well, it became that great. Time and how bad it gets and stays is the only thing that will call this one. Gov't helped us get here, I have little faith in it also being the one to plug the hole on this sinking ship. Do I want to be positive yes, but hard as heck it is.
Geez, that's a pretty xenophobic perspective. And pretty much the exact opposite of how this is playing out.
There IS actually some reason for optimism now, but we still have a long way to go, and all of this will still need to be payed for.
They have come up with a plan to fix the problem.
who told you that? no one in the govt would be so foolish as to say such a thing, not even paulson who asked for the money in the first place... and i certainly hope its not this equity purchase program *rolls eyes
Last I checked there is over 300 billion Americans
unless you count ants as americans, i would go back and re count the number of zeros... you are off by about 1000%
just ask Warren Buffet
i am very interested in what he has to say, yet if you listen to what he does say very carefully, he too has yet to call a bottom...
Fear is the X factor, economy + (x) Fear = Crisis.
err so you are saying the billions lost already have NOTHING to do with it? google money as debt.
The U.S. has taken action, we don't know how fast it will work
you dont even know HOW it works, so why should i believe that it WILL work? i dont believe paulson either.
There is a simple FACT that you seem to forget when you write this post. You can't spend money you don't have. Oh, but we can just print it, right? No. There are consequences, it's called inflation. Oh, but the govt can borrow money? Um, what do you think got us into this mess in the first place?
Pouring bad money after bad money is not a solution that will work. Period.
"who told you that? no one in the govt would be so foolish as to say such a thing, not even paulson who asked for the money in the first place... and i certainly hope its not this equity purchase program *rolls eyes"
The economist who just won the Noble Prize disagrees with you but I'm sure you know better. *rolling eyes*
Wow, great responses.
I will say this, you may not agree and that is perfectly fine. It's great to have your opinions heard. I would just back your comments with facts and reaons. I suggest you read the World News section of a newspaper, for example the NY Times. Other countries are going through the same issues as we are, they have not done anything to get out of it. Wait and see is the name of the game.
Let me pose another question:
Is the presidential elections helping the current crisis?
"Now, there is no money to lend, whether it's to your average Joe looking for a car or Home to a Business looking to borrow until he receives payment."- how about we take a break from spending money we did not actually earn? I am just as guilty as anyone, and guess what? I learned from my mistakes and now see that this perpetual credit-card lifestyle is not doing anyone any good. The only thing it's doing is inflating our economic indicators! Let's say there's 1 trillion dollars in credit card debt in this country- that means a trillion dollars in fake earnings and fake profits. Who does that help? Time to get off of this ride, and live within our means. Can't afford a new car? Don't buy one! What a novel idea!
Being English I am a bit biased, but watch the LIBOR rate to tell us when banks will start lending more freely. It is the rate that banks charge each other for money and the lower that number the more likely banks are to start making loans to qualified buyers. There is money to lend but the banks have taken such big hits they are hesitant to lend it.
"Yeah but.... it was the experts and the folks with lots of degrees who led us into where we are now. Not really sure I want to just trust them again. "
It wasn't the experts. It was a bunch of greedy businessman.
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Financial Crisis- not "The Greatest Depression"
Joel Flores, "NEHCrafters"
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Yes it's a financial crisis; in other words it's not a depression. We are in a time were there is a lot of uncertainty in the U.S. and in the world. I have good news for you; we live in the U.S. They have come up with a plan to fix the problem. Many people will and have opposed this plan because all they see is the $700 billion figure. Some will say help the people, I am the one in need. Last I checked there is over 300 billion Americans, so how do we help all facets of the U.S. It's simple control the economy, just ask Warren Buffet. The plan is simple, help out the Financial Institution who have money, but are hesitant to move or lend it, like every American we hold on to what we have until the storm passes. Now, there is no money to lend, whether it's to your average Joe looking for a car or Home to a Business looking to borrow until he receives payment.
Fear is the X factor, economy + (x) Fear = Crisis.
The government has done a great job at come up with a strategy and implementing it fairly quick (obviously not as fast as we would have liked to) compared to other parts of the world. Other country's government have stood idle, playing the wait and see game. The U.S. has taken action, we don't know how fast it will work, but I know this " we have raised to the top again."
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