WAY TO GO VANCE, Congrats.

+1 <img src="/ubbthreads/images/graemlins/thumbup.gif" alt="" /> <img src="/ubbthreads/images/graemlins/grin.gif" alt="" />

I am hungry after reading HD Chicken meal, and of course the rib deal in Chat. But to move on to a serious deal.

HD mentioned things happening faster than it used to. I believe that a lot of the current situation was brought on by the use of computers and real time. By having this technology at our finger tips people get "real world" reports, news, tips, etc instantly--people did not have this in the '29 Depression or even the recession in the early '80s. Just a theory though, I could be way off.

I wonder how many people that voted for BHO had a clue what he was thinking on the economy, much less thinking anything? I am with HD about McCain, I don't know if he could do any better but at least he has more political/gov't experience. I don't know if anyone can fix this mess. it just makes me sick to know that the hard working middle class get the screw while handouts are given to un-motivated people sitting on their butts and companies that hand out bonuses for failing on a whim.

I guess I need to quite preaching to the peanut gallery and go get something to eat.

As I said before, both Republican and Democratic administrations dropped the ball on regulating the financial industry. That failure allowed unethical practices to become the norm:
Commercial Banks (as opposed to Investment Banks) made loans that they knew, or certainly should have known had they done any verification at all, were bad. They didn't care because they collected fees for initiating the loans, then packaged them as Asset Backed Securities and/or Mortgage Backed Securities, and sold them for additional profits before the any of the loans became a problem.

There's evidence that ratings companies knew that the ABSs and MBSs they were rubber stamping as AAA were far too risky to deserve that rating, but they were unregulated and the Commercial Banks paid them for good ratings -- they basically had a license to print money.

Investment Banks and Funds Managers bought the securities, which most of them knew were risky, but AIG was selling cheap "investment insurance" (Credit Default Swaps) and as long as home prices continued to skyrocket, people could sell their homes for a profit instead of defaulting on loans that they couldn't pay back -- particularly if their loan had a low introductory rate so that they could make small payments for the first couple years.

AIG was hugely over-leveraged, but housing prices will keep going up forever, right (after all, the one thing they ain't making more of is land)?

Politicians of every stripe wanted to encourage home ownership, so they weren't going to do anything to upset the apple cart. Not only were they not going to regulate this wonderful new economic engine that just goes up and up forever, they relaxed enforcement of existing regulations.

Then, an overheated housing market stumbled -- there were more houses than buyers, prices declined, people found themselves upside-down on their home loans, when they began to default (because they couldn't sell and pocket "free money" as they used to, because they owed more than the house was worth, if they could even find a buyer), which made those ABAs and MBAs "toxic" as the bundled mortgages went into default, and AIG couldn't cover the volume of losses.

There's plenty of blame to go around, but I think Republicans (with whom I more closely identify than Democrats) were marginally more at fault. My decision was based on the economy, coupled with an idiotic war in Iraq (Saddam was a bad piece of work who oppressed his people, but I care far less about that than that he counterbalanced Iran) and a bungled war in Afghanistan -- when troops would have been most effective at blocking the border to Pakistan, they were pulled for Iraq. Coupled with erosion of personal freedoms and human rights abuses in the name of security. So... I voted for Obama, not because I agree with his policies, but because I disagree with what has become standard Republican dogma. I'm not saying that I believe he'll do a great job -- I really don't think anyone could recover from the problems he inherited, but I think he'll do less harm in the long run than "staying the course" would.

I'm getting depressed by reading this thread! <img src="/ubbthreads/images/graemlins/doh.gif" alt="" /> What does this have to do with knives anyway, other than explain why some of us can't get every one we want?!!? <img src="/ubbthreads/images/graemlins/crazy.gif" alt="" /> <img src="/ubbthreads/images/graemlins/rolleyes.gif" alt="" />

Sorry, Tom. Here's a picture of some guns to cheer you up! <img src="/ubbthreads/images/graemlins/grin.gif" alt="" />

I voted that a depression is coming. Plain and simple it is getting bad and I am getting ready. My property taxes are going up (3000 per year 5 years ago 7000 a year now) I am building a chicken coop and a good size garden , I have freez dried foods and canned plus lots of beans and rice, I am also stocked up on meds. Did I mention that the best investment I have made is ammo I have plenty of it to hunt and defend my home with and I reload it as well, it WILL be worth its weight in gold. I could be wrong but I would rather be prepared and not need it rather that need it and not be prepared. Hope I just end up eating all of that food up camping or hiking in the summer but I fear the worst.

Vic - now I AM depressed!!! <img src="/ubbthreads/images/graemlins/crazy.gif" alt="" /> <img src="/ubbthreads/images/graemlins/frown.gif" alt="" /> <img src="/ubbthreads/images/graemlins/sad.gif" alt="" /> <img src="/ubbthreads/images/graemlins/paperbag.gif" alt="" />...................... <img src="/ubbthreads/images/graemlins/grin.gif" alt="" />




Stan - you're not alone Brother! <img src="/ubbthreads/images/graemlins/thumbup.gif" alt="" /> <img src="/ubbthreads/images/graemlins/thumbup.gif" alt="" /> <img src="/ubbthreads/images/graemlins/wink.gif" alt="" />

I have faith in President Obama and his administration. At this point, they are about all we have to believe in, in terms of hope for getting back on the right road... they arent going to fix it all but they can start things in the right way... the FIRST thing we have to do is regain control of the financial market. The government HAS to make sure this happens. If the financial system in this nation goes to hell, all is lost. Everything. Period. Get all the guns you want, it wont matter.

Part of the problem is the govt. controlling the financial market, thats called SOCIALISIM. When I purchased my home I purchased what I could afford I didn't look for a "bailout" size home this country in a whole has screwed up not just the Dems or the Repubs. I hope we pull out and go back to the good ole days but the guns give me this sense of security that protecting my family and home and life and only the guns can do! Like I said I would rather be prepared and not need it......

The way things look today, with the average person and the "elite" of not only
your country but others as well, have a familiar ring to them. I don't think
that the aim is to set up a socialistic state, but rather a feudalistic state.
I have a theory about that, but don't want to give a boring discourse that will
put many to sleep.

I'm curious to know which good ole days would those be?


Have to agree with Reconseed on this one. You'd better hide those guns really
good, because if the government wants them, they will take them from you, plain
and simple.

Sorry for sounding so negative on this Stan. I'd really like to see the return
to simpler times too, but this world has fundamentally changed since 9/11, and
there's no way it's ever going to go back to what it was.
The world has surrendered too much power to "government" and they not only
don't want to give it back, they want to take more.

RSeed, I hope he can fix the problems too. I don't care who fixes them. Along the way I don't want to lose my rights/freedom though. Heck, what would be the point of any of it without that right?

Also, remember Obama saying he was going to take his "scalpel" and do some cutting? What has he cut, he has only spent. The spending might even help, heck I hope it does. What I worry about though is all the other issues where he HAS catered to the far left instead of devoting ALL his time to the "financial" issues at hand. He does have bigger fish to fry.

Again, I hope you are right that he can get us back on track. At this point I think he will have the help of a Republican congress is a few years.

We need less govenment and to say we need reform is a major understatement. We need to start from scratch on a few things and some of these guys think that is where we are heading want to or not.