This article about our economy scares the hell out of me! A must read!

[briman1970]

One of my newer interests is the failing economic policies of this formally great nation of ours. This is an excellent article that should turn on a few light bulbs to those who don't normally follow this stuff. Scary! :ghost:

http://www.huffingtonpost.com/hale-stewart/freddie-and-fannie-bail-o_b_124713.html

 

[Kate]

America is in pure denial
US debt is out of control but it will have to be repaid one way or the other.
Plus the greenback is no longer the currency standard it used to be... the world has changed but American still has to take notice.
Scary but true.

 

[GILSAN]

Most americans are unaware of how grave their economic situation and massive debt is. The media feeds them a load of crap to digest day in and day out. These elections are an example of what the media considers the important priorities, the economy being way down the list. Sarah Palin's personal life is extremely important right now.

Since the Chinese love gambling, why not offer them Las Vegas in exchange for the US debt to China.

 

[maxeaus]

``If the U.S. government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic,'' Yu said in e-mailed answers to questions yesterday. ``If it is not the end of the world, it is the end of the current international financial system.''

This is the only bit you need to read realy. The war in Iraq has been the other drain on the economy, that is very neatly hidden from the public.

 

[briman1970]

Most americans are unaware of how grave their economic situation and massive debt is. The media feeds them a load of crap to digest day in and day out. These elections are an example of what the media considers the important priorities, the economy being way down the list. Sarah Palin's personal life is extremely important right now.

Since the Chinese love gambling, why not offer them Las Vegas in exchange for the US debt to China.

Brilliant!

Seriously though, the average American doesn't understand how deep the rabbit hole goes. Here's an excellent primer - http://www.dollardaze.org/blog/?post_id=00255

 

[yandig]

http://www.dollardaze.org/blog/?post_id=00255

That is one of the best articles I've ever read. I wish every voter had to read and understand the history and concepts outlined within.
It is going to take some drastic changes SOON for the U.S. to avoid becoming a 'has been' on the world scene in the next century.

 

[yandig]

and the beat goes on...
Lehman Bros....Merrill Lynch...AIG...WaMu...????....????

 

[dpari]

Huffington Post? (Garbage Left Wing Liberal Media)

However, the concern about the American economy is justified for sure.

One of my newer interests is the failing economic policies of this formally great nation of ours. This is an excellent article that should turn on a few light bulbs to those who don't normally follow this stuff. Scary! :ghost:

http://www.huffingtonpost.com/hale-stewart/freddie-and-fannie-bail-o_b_124713.html

 

[briman1970]

Huffington Post? (Garbage Left Wing Liberal Media). However, the concern about the American economy is justified for sure.

I read a lot of stuff from a lot of different sources. It's a good read - that's why I posted it. BTW, the DollarDaze article is a good read also. If you think any part of the Huffington article is garbage, why not enlighten us?

 

[RogueWriter]

Frankly, I could give a rat's hineykins about any of those companies going under. The only part I would care about is all of the families that would get displaced and the hardships that those families would have to endure.

Personally, if we have to give 30 billion dollars to a company to keep them from going under, then I feel the entire board of directors for that business needs to give up every dime of their personal fortunes, including any assets that can be traced back given to family members and friends. Additionally, they should never be allowed to serve on the board or as an acting head of any other public company. Ever.

Prison time would be a nice alternative, including time for enablers in Government who did not adequatly oversee the industry.

Really, if you can lose $30 billion dollars you don't need to be guiding the future of any other industry, thank you.

 

[Broker]

Fact Check

 

[briman1970]

Fact Check

Which fact are we checking?

 

[yandig]

and the beat goes on...
Lehman Bros....Merrill Lynch...AIG...WaMu...????....????

The next two sets of question marks may be represented by the govt. success or failure in passing the bailout plan (I believe it will pass by this weekend), and the coming collapse of the American dollar which has been surprisingly resilient through all of this.

Good times!