Actually, it is not possible to lay the blame for this mess at the feet of a few poor people that got too much credit to buy a house. The credit industry went bug-f*ck. They loaned money, leveraging their assets several hundred times more than normal to business, real estate developers of commercial property as well as home owners. This bubble was purposefully created to get past the bursting of the dot.com bubble, which was itself a bubble created to keep the economy afloat from the previous recession.
Fundamentally, the trigger that pushed us over the edge was the surge in gas prices, which in turn was caused by speculation that we were about to go to war with Iran. Now, consumers that keep the economy bubbling are tapped out, no one is buying, businesses already overextended themselves collapse from the lose of sales, and you have a deflationary recession (depression). So we print money and throw it out the window hoping against all hope that someone will spend it. But the money goes directly into the pockets of bond and policy holders.
As Krugman and Stieglitz have said we are not doing nearly enough to prevent further collapse. Krugman predicts that Obama will fail if he doesn't nationalize the banks; and if he fails. fear may drive us into fascism.
It is called blowback, and as Chalmbers had argued, it is the end of the American Empire. You guys buying guns have no clue what that means, but I guarantee that you cannot run or hide from this one.
mpjh wrote:Actually, it is not possible to lay the blame for this mess at the feet of a few poor people that got too much credit to buy a house. The credit industry went bug-f*ck. They loaned money, leveraging their assets several hundred times more than normal to business, real estate developers of commercial property as well as home owners. This bubble was purposefully created to get past the bursting of the dot.com bubble, which was itself a bubble created to keep the economy afloat from the previous recession.
Fundamentally, the trigger that pushed us over the edge was the surge in gas prices, which in turn was caused by speculation that we were about to go to war with Iran. Now, consumers that keep the economy bubbling are tapped out, no one is buying, businesses already overextended themselves collapse from the lose of sales, and you have a deflationary recession (depression). So we print money and throw it out the window hoping against all hope that someone will spend it. But the money goes directly into the pockets of bond and policy holders.
As Krugman and Stieglitz have said we are not doing nearly enough to prevent further collapse. Krugman predicts that Obama will fail if he doesn't nationalize the banks; and if he fails. fear may drive us into fascism.
It is called blowback, and as Chalmbers had argued, it is the end of the American Empire. You guys buying guns have no clue what that means, but I guarantee that you cannot run or hide from this one.
Nobunaga wrote:... I personally don't believe times are going to become quite that hard, though we may see riots at some point in major cities.
... The largest problem is, imo, the ignornace of the average American coupled with a serious lack of interest. Americans know much more about their favorite television dramas and sports teams than they do the workings of their own government.
... And our government likes it that way.
... I have guns. If times get so bad we begin fighting for food, my family will eat.
... But if we even begin to approach that stage, I'm outta' here.
...
good luck to you. I hope you make it out. The thing that I find hard to understand is why people refuse to even consider that mass riots, governmnet tyrany, plunging economy and what ever else are coming our way. 8 years ago, we suffered the 9-11 attacks. No one could have concieved that prior to it. It was that day that caused me to buy my first gun... I have several now. The market crash last year should have been a wake up call for everyone... most still sleep. California is on the verge of bankruptcy, GM and the banks are all but nationalized... The radical left is mad with power... that the dollar will be a thing of the past by year's end... these are the most uncertain times in America's 230 years. Yes, so many people mock, and refuse to see the writing on the wall.
Sure you bought a gun 8 years ago...even in Texas they dont sell to 4 year old children.
Nobunaga wrote:... I personally don't believe times are going to become quite that hard, though we may see riots at some point in major cities.
... The largest problem is, imo, the ignornace of the average American coupled with a serious lack of interest. Americans know much more about their favorite television dramas and sports teams than they do the workings of their own government.
... And our government likes it that way.
... I have guns. If times get so bad we begin fighting for food, my family will eat.
... But if we even begin to approach that stage, I'm outta' here.
...
good luck to you. I hope you make it out. The thing that I find hard to understand is why people refuse to even consider that mass riots, governmnet tyrany, plunging economy and what ever else are coming our way. 8 years ago, we suffered the 9-11 attacks. No one could have concieved that prior to it. It was that day that caused me to buy my first gun... I have several now. The market crash last year should have been a wake up call for everyone... most still sleep. California is on the verge of bankruptcy, GM and the banks are all but nationalized... The radical left is mad with power... that the dollar will be a thing of the past by year's end... these are the most uncertain times in America's 230 years. Yes, so many people mock, and refuse to see the writing on the wall.
You all tend to forget that it was market deregulation and republican free market philosophy that got us here (and yes that includes the fake democrat Clinton).
But you tend to remain ignorant of the fact that they are all on the same side, that the deception is that there are actually different parties. Your beloved liberal democrats legislated that home ownership be extended to poor minorities that could not actually afford them. There has been warnings of the negative reprecussions of this for more than a decade now. What is amazing is that it took this long for the bubble to burst. I suspect that it has more to do with the approaching retirement age of the largest generation, because the nest egg house was packed full. My my, where did all that money go? Thats right, it never really existed, did it. But I will tell you this... it did exist. and it exists today. It is just living somewhere else, in someone else's bank accounts.
We, Americans, have been victem of the greatest swindle ever pulled off. And I tell you that this is going to blow wide open. The worst is yet to come. You will see.
mpjh wrote:Actually, it is not possible to lay the blame for this mess at the feet of a few poor people that got too much credit to buy a house. The credit industry went bug-f*ck. They loaned money, leveraging their assets several hundred times more than normal to business, real estate developers of commercial property as well as home owners. This bubble was purposefully created to get past the bursting of the dot.com bubble, which was itself a bubble created to keep the economy afloat from the previous recession.
Fundamentally, the trigger that pushed us over the edge was the surge in gas prices, which in turn was caused by speculation that we were about to go to war with Iran. Now, consumers that keep the economy bubbling are tapped out, no one is buying, businesses already overextended themselves collapse from the lose of sales, and you have a deflationary recession (depression). So we print money and throw it out the window hoping against all hope that someone will spend it. But the money goes directly into the pockets of bond and policy holders.
As Krugman and Stieglitz have said we are not doing nearly enough to prevent further collapse. Krugman predicts that Obama will fail if he doesn't nationalize the banks; and if he fails. fear may drive us into fascism.
It is called blowback, and as Chalmbers had argued, it is the end of the American Empire. You guys buying guns have no clue what that means, but I guarantee that you cannot run or hide from this one.
Maybe you do get it after all. This is about the smartest post on this matter that I have read on this forum. But to your point about buying guns, I will take my chances. and I will much rather die on the battle field fighting for my freedom than toughing it out under the boot of some fascist dictator.
mpjh wrote:
It is called blowback, and as Chalmbers had argued, it is the end of the American Empire. You guys buying guns have no clue what that means, but I guarantee that you cannot run or hide from this one.
isn't it funny that so much of this began (well, symbolically at least) with a war in afghanistan? as one author put it, that place is a "legendary graveyard of empires"
