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O.T. How the US got into the financial mess

Discussion in 'Uncategorized Threads' started by Bubba, Oct 24, 2008.

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  1. Bubba

    Bubba Member

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    How the U.S got into the current financial mess.

    http://www.ldsmag.com/ideas/081017light.html
     
  2. crusha

    crusha TS Member

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    How I bet Greenspan wishes he could have had the ability to write just one more chapter in his "Turbulence" tome, before sending it to the galley?
     
  3. bigdogtx

    bigdogtx Well-Known Member

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    That is a big part of it....but personal responsibility, or lack thereof, is another big piece. When citizens use credit for consumables, or extend themselves beyond their means, they should KNOW better.
     
  4. halfmile

    halfmile Well-Known Member

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    Yes, they should, but being urged on by our Democratic leaders, as Clinton and Reno insisted all the have nots should become homeowners, how can you blame them?

    The resets on the ARM's were touted as "Probably going down", what a farce.

    Snake oil with government approval.

    There is enough blame to go around.

    I loved Barney Frank on O'Reilly's show. He should have punched him too.

    Did they really think the con could go on forever?

    HM
     
  5. comp 1

    comp 1 Well-Known Member

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    Halfmile,it's STILL going on. The FED is considering lowering interest rates to BELOW 1 per cent. LOW INTEREST RATES GOT US IN THIS MESS---not everybody has a right to own a home,car or even food--only if you WORK for it should you be ENTITLED to any damn thing.
     
  6. halfmile

    halfmile Well-Known Member

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    they are preparing an even bigger bomb, a stimulus package again.

    P. Schiff:

    Unfortunately, the one stimulus we do need will not be supplied. To fix our current economic mess we need to diminish the activity that undermined our economy and encourage the behavior that will restore balance. Instead of encouraging Americans to go deeper into debt to buy more foreign products that we cannot afford, Americans should be encouraged to save their money, and produce more goods for export.


    I happen to agree.

    Usury got us here, Usury will not get us out. The debt bomb can not be defused with even more debt. The continued creation of ever more dollars is only going to have one result, inflation. Double digit. Maybe even hyper.

    Government spending needs to be less, not more.

    It's going over the falls, is your barrel safe?

    HM
     
  7. JOND

    JOND TS Member

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    Liberal blackmail of corporations,corporate greed,and lack of individual responsibility.
     
  8. Barrelbulge(Fl)

    Barrelbulge(Fl) Banned User Banned TS Supporters

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    At this point isn't it more important how the hell do we get out of it? Bulge.
     
  9. comp 1

    comp 1 Well-Known Member

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    I'll tell you how we get out of it---don't do a damn thing;let the chips fall where they may and the Hell with those who got into debt and the wall street crooks',liberal politicians etc. If you can't afford it,don't buy it. Quit acting like gazillionaires while using BORROWED money,not that it's going to be that easy to borrow anywhere now.THAT'S A GOOD THING.
     
  10. halfmile

    halfmile Well-Known Member

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    cancelling the bailout would be a good start. Yes, there would be problems, but it would be over a lot sooner.


    HM
     
  11. trapperwads

    trapperwads Well-Known Member

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    Comp 1 is right on the money.
    there have always been crooks on Wall street and always will be. But don't forget big oil. A lot of our problems began with rapidly escalating gas prices leaving less for consumer spending which stimulates economic growth. ed nichols
     
  12. ArmySGM

    ArmySGM Member

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    'I believe that banking institutions are more dangerous to our
    liberties than standing armies. If the American people ever allow
    private banks to control the issue of their currency, first by
    inflation, then by deflation, the banks and corporations that will
    grow up around the banks will deprive the people of all property
    until their children wake-up homeless on the continent their fathers
    conquered.'

    Thomas Jefferson 1802
     
  13. ArmySGM

    ArmySGM Member

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    It's amazing how much foresight our forefathers had when writing the Constitution. Everything they warned against is coming true today.

    Gary
     
  14. jimx200

    jimx200 Member

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    And the subtitle should be "And Why The Mess Was Caused By Democrats Barney Frank, Nancy Pelosi, Chuckie Schummer, maxine Watters, etc. ALL were pushing banks and savings/loans (under threat of retaliation) to give loans to unqualified minorities! Every homeowner in this country should give that pathetic little Barney the finger for his total malfeasance and lack of oversight...why do the uninformed of Mass. keep electing these fools?
     
  15. ArmySGM

    ArmySGM Member

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    jimx200 you are entirely correct.. Go to the link and the same names are listed..

    Gary
     
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