U.S. Economy 2009!

Pushing_Tin

I actually agree with you, the problem is that Americans demand instant results and are generally too stupid to understand anything about government or the economy.

kdo2milger

Chia Obama - Special Edition Chia from the maker of Chia Pets

CH- CH- CH- CHIEF

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FuszNissan

^^Did you know it comes in 2 expressions.
There will be a lot of work to come; to unwind what he has done...lol that rhymed

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LouFuszNissan
ZDAYZ 2012

TX_370

I agree with both of you, however I don't think the Government even knows how to solve these problems.

Nonetheless, I BELIEVE this mess in the economy was set up by the Government in order to have Americans freely give up their freedom. With the economy in this state and the so-called bailouts, the Government is able to get their hands into the financial and backbone of our economy. If the Government runs the money, they run everything.

Just for example, when the bank bailout was being pushed, Wellsfargo declined any Government aid. So the Government indirectly forced Wellsfargo to take the money and buy up smaller banks to expand the company. Later when the bailouts were to be paid and Wellsfargo couldnt pay it back, the Government took control of a percentage of the bank. This all seems like a master plan to me.

****THIS IS MY OPINION****

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GMZ

^^^Agree 100%, maybe 110%, except the banks/fed are in bed with the govt.

m4a1mustang

Threads like this are interesting to me because I like to see what people on "main street" are thinking. Whether I agree with it or think it's misguided, unfounded, or simply uneducated it doesn't matter... it's interesting!

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fly yellow

After 9/11 interest rates were lowered to an unrealistic number to keep the economy moving. Credit standards were also lowered. Home prices soon inflated to an unsustainable number simply because people were buying homes based on payments, and the lower interest rates lowered the payments, plus you had more buyers in the pool due to the fact that anyone could get a home loan. Those that didn't buy still took advantage of the situation by cashing in on their newfound equity at a lower rate. The economy was firing on all cylinders, but it was fueled on nothing but debt. After a couple years the defaults came pouring in. Credit tightened up to a point where it has overcorrected. People can't take on anymore debt to fuel the economy, and their liquidity went out the window as the value of their assetts tumbled.

The current and past administrations both contibuted to government bailouts to artificially slow the downturn. That was and is a huge mistake. Soon we will have to pay the inflation piper.

Cap all of this off with the new entitlement generation, where people think they are entitled to a college education, and then they are entitled to a good job afterwards, coupled with businesses realizing that these people really didn't learn any real world skills in college and the fact that the economy has slowed to a standstill, and you have lost jobs that just aren't going to come back.

In shrot we are tremendously screwed. Recovery is going to be slow and very painful. The question is do you want the government to keep interfering with the free market which may make the pain hurt slightly less, but last years longer, or do you want to let the market correct itself and suffer more in the short term, but recover much quicker. I guess a good analogy would be would you rather someone follow you around for 5 years constantly tapping on the back of your head with a hammer, or would you rather just have them give you one good whack and let you spend a couple weeks in ICU getting back to normal.

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BanningZ

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Alexus

+1, really.

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AARC51

I believe it's only going to get worse. With the government refi plan it now makes sense to stop paying your mortgage for several months to qualify for the federally guaranteed lower interest rate.

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dad

Socialism has been coming for many years.

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We can do without any article of luxury we have never had; but once obtained, it is not in human nature to surrender it voluntary.

GMZ

That's called moral hazard and there was plenty of it going on before all this mess.

frost

Wow, this thread has made it almost 6 hours? Surprising.

dad

Let's have socialized medicine.

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We can do without any article of luxury we have never had; but once obtained, it is not in human nature to surrender it voluntary.

GMZ

No thanks, I can't think of anything the govt has gotten involved in that it hasn't screwed up