blzrul Posted September 17, 2008 Share Posted September 17, 2008 6.1% national unemployment More layoffs announced Freddie Mac Fannie Mae Government bailouts Sky-high gas prices Energy prices...winter's coming, who knows what they'll be by then Am I forgetting anything? Link to comment Share on other sites More sharing options...
/dev/null Posted September 17, 2008 Share Posted September 17, 2008 Am I forgetting anything? Haliburton Link to comment Share on other sites More sharing options...
molson_golden2002 Posted September 17, 2008 Share Posted September 17, 2008 Tax Cuts, de-regulation and the free market oh my! Link to comment Share on other sites More sharing options...
erynthered Posted September 17, 2008 Share Posted September 17, 2008 The Sky is falling. The Dog ate your homework You got a flat tire The Salon burned your hair Your Tattoo of the Messiah looks like Opie from the TV show Mayberry RFD Link to comment Share on other sites More sharing options...
John Adams Posted September 17, 2008 Share Posted September 17, 2008 (economy) Am I forgetting anything? It's the issue that controls 90% of my vote. But only every year. A strong economy covers a lot of ills. A weak economy exposes them. Link to comment Share on other sites More sharing options...
/dev/null Posted September 17, 2008 Share Posted September 17, 2008 You got a flat tire I've had 2 flat tires this year but I never had any flat tires when Clinton was President Link to comment Share on other sites More sharing options...
YellowLinesandArmadillos Posted September 17, 2008 Share Posted September 17, 2008 Haliburton Enron! Blackwater.... Link to comment Share on other sites More sharing options...
KD in CA Posted September 17, 2008 Share Posted September 17, 2008 You're forgetting to blame Sarah Palin for everything. Link to comment Share on other sites More sharing options...
BuckeyeBill Posted September 17, 2008 Share Posted September 17, 2008 My goodness things get so bad when Democrats are in control of Congress. If only we went back to the "good-ol" Clinton years, right? Everything would be great if it was like it was then. Wait... Republicans were in control of the Congress then. Congress has much more control of the economy than the President does. Link to comment Share on other sites More sharing options...
molson_golden2002 Posted September 17, 2008 Share Posted September 17, 2008 You're forgetting to blame Sarah Palin for everything. The tire on my pick up truck parked in my yard is flat and its her fault Link to comment Share on other sites More sharing options...
meazza Posted September 17, 2008 Share Posted September 17, 2008 6.1% national unemploymentMore layoffs announced Freddie Mac Fannie Mae Government bailouts Sky-high gas prices Energy prices...winter's coming, who knows what they'll be by then Am I forgetting anything? You forgot to put, "Hi my name is Obama and I approve this post" Link to comment Share on other sites More sharing options...
DC Tom Posted September 17, 2008 Share Posted September 17, 2008 6.1% national unemploymentMore layoffs announced Freddie Mac Fannie Mae Government bailouts Sky-high gas prices Energy prices...winter's coming, who knows what they'll be by then Am I forgetting anything? Inflation. And the fact that the credit market mess is a direct result of government promotion of home ownership...which I though is a good thing, isn't it? Link to comment Share on other sites More sharing options...
bills_fan Posted September 17, 2008 Share Posted September 17, 2008 Inflation. And the fact that the credit market mess is a direct result of government promotion of home ownership...which I though is a good thing, isn't it? What a f*cking unmitigated disaster. Dow is off 350 points today, headed well under 10,000. MS is down 34%, GS off 25% The more I see those two companies tick down, the angrier I am getting at Paulson and the Bush administration for being reactive and not getting out in front of the problem. I said back when Bear when down in March that the only way out will be Resolution Trust II. The only public official who even mentioned the idea was Barney Frank, Chair of the House Financial Services Chair and even then only in the last two days. The lack of political leadership (with the exception of David Patterson on AIG) is appalling. The alternative is global financial meltdown, which will happen in the next couple of weeks. It is too late for Leh, AIG, Bear and Mer. The only question is if GS and MS will still be around when Congress and the Bushies get around to acting on this. If GS/MS go, say goodbye to American economic growth for quite some time. As badly as the investment banks are portrayed by the media and as poorly as their decisions were, they serve a very necessary function in driving true economic growth (not just the overly-leveraged kind). Tieing them in with commercial banks, and all of their leverage limitations, will be disasterous for the long term economic outlook. Lots of blame to go around for this...the Bush administration, Clinton administration, Congress, the banks, homeowners and mortgage brokers all deserve a piece of it. Now, lets out of it before we really wreck things. http://blogs.wsj.com/economics/2008/09/16/...ernment-entity/ Link to comment Share on other sites More sharing options...
PastaJoe Posted September 17, 2008 Share Posted September 17, 2008 You're forgetting to blame Sarah Palin for everything. That would be like blaming a dog without lipstick for chasing it's tail; it doesn't know any better. Link to comment Share on other sites More sharing options...
John Adams Posted September 17, 2008 Share Posted September 17, 2008 I have a friend in a regional investment bank. He's loving all this--great for their business. Link to comment Share on other sites More sharing options...
bills_fan Posted September 17, 2008 Share Posted September 17, 2008 I have a friend in a regional investment bank. He's loving all this--great for their business. I have many friends at investment banking botiques. They serve a great purpose and they will get some more business. But, botiques cannot drive the bus, they don't have the capital to do the deals that really matter. And your friend may have just changed his tune after today. Link to comment Share on other sites More sharing options...
KD in CA Posted September 17, 2008 Share Posted September 17, 2008 And the fact that the credit market mess is a direct result of government promotion of home ownership...which I though is a good thing, isn't it? Anything that 'levels the playing field' is a good thing. Link to comment Share on other sites More sharing options...
blzrul Posted September 17, 2008 Author Share Posted September 17, 2008 Inflation. And the fact that the credit market mess is a direct result of government promotion of home ownership...which I though is a good thing, isn't it? Weell you know I don't believe that home ownership is still a "good thing". Clearly from a quality of life aspect it's great - you got your own place, no worries about putting a hole in the wall and you can play music louder than an apartment and scream at bad officiating without someone calling 9/11. When I bought my first house it was definitely still advantageous to own versus rent. However, the big attraction for home ownership in the past was the tax breaks. Nowadays when you weigh reduced tax benefit (compared to a decade ago, or more) against the cost of maintaining the home...it's not what it was any more. People tend to hear the word "taxes" and spazz out. It's silly really. If I save $5k* in taxes a year because I own, but spent $14k* to maintain, and that happens year after year, then I am only ahead when I sell and realize my equity. It's never black and white ... and TELLING people who cannot afford a home, that they can do so through unnatural acts and unwise financing vehicles, is not particularly responsible. The burden of blame for the credit mess though, unless there was fraud or misrepresentation by the financial institution, really rests squarely on the individual. Face it, as taxpayers we are all screwed. The difference is not so much WHAT they take, it's WHERE they spend it. If I am going to be bled dry on taxes, I would rather have it to buy lunches for hungry school children as opposed to bailouts for bloated corporations and their golden-parachuted executives. *Made-up numbers used to illustrate a point. Substitute your own. Or, if you are pinhead wingnut, jump on those two figures, ignore everything else and make a nasty comment about "libtards" etc. Link to comment Share on other sites More sharing options...
finknottle Posted September 17, 2008 Share Posted September 17, 2008 You forgot to put, "Hi my name is Obama and I approve this post" Good one! Link to comment Share on other sites More sharing options...
TPS Posted September 17, 2008 Share Posted September 17, 2008 Inflation. And the fact that the credit market mess is a direct result of government promotion of home ownership...which I though is a good thing, isn't it? How long ago were Freddie and Fannie given implicit guarantees? Did the crisis start 50 years ago? Seems to me something much more recent triggered this crisis... Link to comment Share on other sites More sharing options...
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