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| Topic: It just seems to me...... | |
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We all know our economy is screwed, no question about that!
It just seems to me: The economy is based on peoples spending..... why did money then go to the banks to be able to buy other banks, to give large bonuses to those who caused the problems and issue more loans to people who are out of work and unable to pay? Why didn't the money go to the people who could then pay off their loans, putting money back into the economy, which would create a stronger market, keep businesses open and jobs available..... do you get our governments reasoning? |
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Well, there's that perspective. There is also the fear factor, though, and that is largely due to the media. After all, they do love a good crisis (apparently they lose viewers if they say nothing more than "all is great, no murders, no fires, nothing but sunshine and roses"). The media reports an economic downturn, and people react by spending less, saving more, and generally locking down financially. This, of course, nudges the downturn into "crisis" mode, and the media raises the alarm, futher panicking the people....it's a horrible cycle.
I am not saying that people should ignore the situation and run around being shopaholics, but I also think that if more people worried less and went about business as usual, the economy would recover faster than if we subject ourselves to bailouts or other schemes. |
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Edited by
Atlantis75
on
Wed 03/25/09 10:36 AM
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We all know our economy is screwed, no question about that! It just seems to me: The economy is based on peoples spending..... why did money then go to the banks to be able to buy other banks, to give large bonuses to those who caused the problems and issue more loans to people who are out of work and unable to pay? Why didn't the money go to the people who could then pay off their loans, putting money back into the economy, which would create a stronger market, keep businesses open and jobs available..... do you get our governments reasoning? There is too much banking influence in Washington DC and the politicans. Lobbyists , markets, wall street, .. read this: Rep. Maxine Waters (D-Calif.) grilled Treasury Secretary Timothy Geithner on Tuesday about the role of investment bank Goldman Sachs in various government efforts to prevent a collapse of the financial industry. During a contentious hearing before the House Financial Services Committee, Waters asked Geithner to confirm that his predecessor was a Goldman Sachs CEO, then followed up by questioning whether the firm would be one of five asset managers in the just-announced Public-Private Investment Program. "It is possible that if they are qualified we would consider them along with everyone else," Geithner said. "You hear a lot about the dissatisfaction about the bonuses," Waters said, "but underneath all of this is a conversation about the linkages and the connections of a small group of Wall Street types that are making decisions." Waters advanced the linkage conversation by asking Geithner to confirm whether Goldman Sachs received TARP funds, whether Geithner's current chief of staff formerly worked for the firm, whether Goldman Sachs received funds from bailout-king AIG, and whether Goldman Sachs was somehow involved in the government's decision not bail out Lehman Brothers. http://www.huffingtonpost.com/2009/03/24/maxine-waters-grills-geit_n_178655.html Not to mention, Obama's biggest campaign contributor was indeed Goldman Sachs Bank. Try not to say it..but I have to..these same banks who posses the toxic assets and matter effect responsible for the mortgage crisis are still the ones who has the most influence in Washington DC. That's the problem. Obama's "change" is as good for USA as me changing my socks daily. |
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It's hard to support an economy of any kind when people are out of work. Our best investment will always be in the people......NOT THE BANKS OR CORPORATE FAT CATS!
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soul....i agree 100%
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It's hard to support an economy of any kind when people are out of work. Our best investment will always be in the people......NOT THE BANKS OR CORPORATE FAT CATS! I agree completely, but it is a Catch-22. If you don't buy the products that the large companies make, they lay off workers, which affects the economy. I myself prefer to shop at locally owned businesses, but there are times when that just isn't an option. I was just saying that if we're not careful, full on panic could ensue, and then we really will be in another Depression. |
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It's hard to support an economy of any kind when people are out of work. Our best investment will always be in the people......NOT THE BANKS OR CORPORATE FAT CATS! The banks and financial institutions are on a "survival mode"..so they will do anything to save their skin from going bankrupt. The problem is, that Washington DC is so much spiderwebbed with this...basically any representative or senator has connections to banks and these lenders etc..one way or another or themselves are actually CEOs or worked for them one way or another. All the crying and running around and tearing the hair out in the media has to with the fact, that the media lives off from financial institutions as well..not to mention the giant medicine companies, toys..whatever.. Just count how many drug commercials, bank commercials, insurance commercials you see during the breaks on CNN. CNN or any other news stations cannot survive without commercials and millions of dollars given to them by these large companies for their 10 second ad. That's why the news media goes along with the panic..since if these businesses and banks fail..they can also kiss their a$$ goodbye. |
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That my friends is why investing in the people is always the better bet! When people have money they are not afraid to spend or borrow and that in itself stimulates a strong economy!
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They don't seem to realize that they're shooting themselves in the feet, though. They panic, people panic, and it cycles out of control.
You'd think that they'd look back at history, and try to learn from it rather than repeat it. |
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Edited by
Atlantis75
on
Wed 03/25/09 10:58 AM
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It's a cruel lesson, because the people has to suffer for it..but because the politicians have this tunnel vision and trying to live in the the past and they are not ready to admit they defeated themselves and definitely don't want to give up their wealth...that's why this whole process is taking so long and along with them we suffer as the consequence. We just have to endure and keep up no matter what..eventually the roof will collapse anyway and new roof cannot be built until the old one is taken away.
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They don't seem to realize that they're shooting themselves in the feet, though. They panic, people panic, and it cycles out of control. You'd think that they'd look back at history, and try to learn from it rather than repeat it. the media or the politicians? |
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It's hard to support an economy of any kind when people are out of work. Our best investment will always be in the people......NOT THE BANKS OR CORPORATE FAT CATS! I agree completely, but it is a Catch-22. If you don't buy the products that the large companies make, they lay off workers, which affects the economy. I myself prefer to shop at locally owned businesses, but there are times when that just isn't an option. I was just saying that if we're not careful, full on panic could ensue, and then we really will be in another Depression. Haha! Where have you been? We've been in a Great Depression for a while. Nobody wants to admit it yet. Everybody keeps talking about "economic crisis", "hard times", "recession"....NO. It's called a GREAT DEPRESSION. History repeating itself. We had one in the 1930's and we're having another one right now. |
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yes...some people panic....some blindly follow. people need to find a way to balance it out. IMO
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I agree, Atlantis, which is why I've been doing my best to keep living life as close to "normal" as possible.
yellowrose - both :) And filmfreek, we're not quite at the level of "Great Depression" yet. Right now, the national unemployment average is 6.7 percent, whereas during the Great Depression, it was at 15%. I'm not saying people shouldn't worry, because I know we should. I'm just saying that we don't need to run in circles shrieking that the sky is falling. |
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I agree, Atlantis, which is why I've been doing my best to keep living life as close to "normal" as possible. yellowrose - both :) And filmfreek, we're not quite at the level of "Great Depression" yet. Right now, the national unemployment average is 6.7 percent, whereas during the Great Depression, it was at 15%. I'm not saying people shouldn't worry, because I know we should. I'm just saying that we don't need to run in circles shrieking that the sky is falling. gotcha and I do tend to agree. it goes to both extremes |
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Edited by
ladywolf9653
on
Wed 03/25/09 11:16 AM
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Yes it does. Balance is hard to strike when there are causes for concern, and some are escalating it to make people tune in. I certainly don't have my head planted in the sand, but I'm also not going to run pull all my money out of the bank and hide in my closet just because people are screaming about how bad the economy is.
The way I see it, I'm not anxious to borrow trouble. I can plan for the worst but hope for the best :) |
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As long as we have a private banking cartel printing our nations money, to "loan" to us, with every dollar issued coming with debt attached to it, we will never be out of debt. As long as they control it they control the economy. No matter what we do, if they want a crash, we'll have a crash. Until we abolish the Federal Reserve and the US Congress starts minting our currency debt free again..... we are slaves to their wishes!
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Edited by
AdventureBegins
on
Wed 03/25/09 12:21 PM
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They don't seem to realize that they're shooting themselves in the feet, though. They panic, people panic, and it cycles out of control. You'd think that they'd look back at history, and try to learn from it rather than repeat it. the media or the politicians? media, politicians and ... US. Just before the Great Depression americans were spending like mad, dancing like mad, and just generally acting like spoiled little children. Excess was the way of life and spending beyond their means was commonplace. Bling, fast cars(for the time), fancy cloths, etc was the life style (I know they did not call it bling but ain't it the same). Everyone talks up the economic models and financial breakdowns that created the depression... Most seem to have glossed over the attitude of spend, spend, spend like no tommorrow that contributed to it. Congress let us down by stuffing their own personal coffers from the excess. Wall Street let us down by pursuing each their own dream of wealth beyond measure...(or beyond reason) So what... We LET THEM DO THAT by spending like tommorrow was a century away... (I once heard a man brag that he was carrying the debt of three generations and would be passing that along to the next-after adding his part)... eeek? and now that the bill is due NO ONE SEEMS TO WANT TO BE RESPONSIBLE FOR IT. yet responsible we are. |
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Edited by
Winx
on
Wed 03/25/09 04:37 PM
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I agree, Atlantis, which is why I've been doing my best to keep living life as close to "normal" as possible. yellowrose - both :) And filmfreek, we're not quite at the level of "Great Depression" yet. Right now, the national unemployment average is 6.7 percent, whereas during the Great Depression, it was at 15%. I'm not saying people shouldn't worry, because I know we should. I'm just saying that we don't need to run in circles shrieking that the sky is falling. The unemployment rate is currently 8.1%. http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS14000000 http://www.bls.gov/cps/ That's not counting the people that have had their unemployment run out. |
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Nevermind that the only retail corp. to make profits was walmart, this admin seems hell bent on going after them.
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