The market has failed, and officialdom is perpetuating that failure »
Posted By berkeley 11 months, 3 weeks ago in Political NewsEver since the two Bear Stearns hedge funds defaulted 17 months ago triggering a global financial crisis, the Federal Reserve has been busy putting out one fire after another. Fed chief Ben Bernanke has slashed interest rates to .25 percent, handed out billions in emergency funding to teetering insurance companies and mortgage lenders, and provided $8.3 trillion in loan guarantees to keep the financial system from collapsing. Unfortunately, nothing the Fed has done has either stabilized the markets or stopped the contagion from spreading to the broader economy where consumer spending has fallen sharply, unemployment has skyrocketed, manufacturing has slipped to a 30 year low, and housing prices have plummeted.
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berkeley
If tyranny and oppression come to this land, it will be in the guise of fighting a foreign enemy. Of all the enemies to public ...
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orndorffter11 months, 3 weeks ago
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Wow, that was one good story, I understand what hes talking about, and I agree. We are mainly left out to hang and die by the hands of the goverment, I see them helping so places wont go bankrupt, but what about us? do we mean that little to them? seems to me that we are going to have to do the best we can and whatever to survive in this country. And I'm with him I well give to the UK or what ever it is or anyother fountry untell our own it taken care of frist, man, we are in some deep trouble and we are now in a depresion, we'v got to fork for ourselfs because nobody else is going to do anything to help us.
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riverdog11 months, 3 weeks ago
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Soon, those "poor" bankers and Wall Street speculators, who don't actually build or create anything of value, will have no one from the middle class left to extract their wealth from. The 'can do' real people will work among themselves to survive and will just say 'no' to the 'products' of greed designed by these upper class criminals.
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willottica11 months, 3 weeks ago
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Is anyone else getting close to the point where all they can manage in face of the economic condition is hysterical laughter?
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I've lost my job? HAHAHAHAHAHAHAHA!!!!
I can't make my mortgage payments? HAAAAAAAAAAAAAAAAHAHAHAHa!
You think I'm going to leave voluntarily??? HAHAHAHYEEEAAAAHAHA!
The walls are crumbling. Sheriffs are refusing to act on foreclosures. As this gets worse, authorities will be even more powerless to enforce debt collection. The middle class, the working class, who thought they got screwed over, will have the last laugh when the wealthy see their wealth vanish in a pile of computerized bits and bytes. After all, a bank balance only means something if the bank has the money to give you. Accounts receivable on the balance sheet only mean something if there's someone to pay.
Are we descending to anarchy? Who knows? I think I'm going to sit back and enjoy the crazy roller-coaster ride for all it's worth!
Wait, they'll still keep broadcasting CSI, won't they? WON'T THEY!?!?!? -
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Spadecaller11 months, 3 weeks ago
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There are several positive measures to help restore the economy. This is one that I can easily relate to:
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http://www.freewebs.com/spadecaller/sniper.htm -
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Spadecaller11 months, 3 weeks ago
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There are several positive measures to help restore the economy. This is one that I can easily relate to:
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http://www.freewebs.com/spadecaller/sniper.htm -
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canadianrancher5711 months, 3 weeks ago
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I thought this was a really interesting artical except I feel that there should have been some comment about the global economy. With the development of Asian production we have a major competitor that has basically killed production in the West without us making major changes in our economies. WE continued to allow excess in costs in our production to kill our industries and also because we continued to expand government we increased our tax bill which meant that to consume we had to buy offshore. The companies that did move offshore and outsource did so to survive and I don't hold it against them since it was a survival move.
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On a personal note I have to compete in the world market with my products and have made many change to stay in business, this involved some hard decisions and many changes, the bigest change was learning to live on a very small income and also telling my boys that I was unable to pay them the wages they thought they needed to survive, which in the long run has resulted in longer days and more work for me, but it was what had to be done to survive.
The people who are trying to bailout the American Economy are not following a logical plan since they refuse to recognize what the problen is, the money policy followed by the Federal Reserve has destroyed your economy because I don't that these people have the ability to think outside of the box or understand business cycles.
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