How Do you Feel About This Huge Economic Mess ???

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#1
Are you Angry, Super Angry, Worried, whatever else about the BIG NEWS ? I think we all know what I'm talking about - Last Week + Wall Street + Washington D.C. + America's no charging limit Credit Card. As usual (Iraq War, New Orleans Hurricane, Near World Wide Financial Collapse) the clown in the White House was days late to act. Luckily he has some advisors around him with what he lacks, knowledge, to come up with a plan. What do I think of a plan that makes the US tax payer pay for all the mismanaged greed and irresponsibility of a lot of big companies? Well, it's better than a world wide melt down (which I understand we we very close to) but just shows you what massively careless idiots control the power (even some of the Super Rich are getting sodomized big time on this one).

Let's remember how all this happened. The Republican mantra that Government should stay away from all/any business over site and let them control themselves - an idiotic idea and now we see it being played out. Yet the majority of the American public are so uneducated and brain dead about political party policies that they don't understand this is the outcome of Republican party policies. Having Big Business oversee itself is kind of like letting a group of pediphiles run a Kindergarten classroom... of course a GWB White House would probably approve because studying the situation would be too much work (kind of like the August 6th, 2001 PDB about Bin Laden wanting to hit inside the USA - August is vacation time man, it can wait!!).

Yet, even though it was Republican policies that allowed this massive mess to happen and almost set the planet back to at least 1929 McCain still sits close to 50% of the vote in the November Election. I just find this unbelievable but again it points to the TOTAL ignorance of the American public. Voting for or against sex, race, religion, etc etc. instead of POLICIES is just insane. Who cares if Obama is black (or 1/2 black) but that's probably what's gonna put the out of touch senior Senator and his crazy VP in office in Nov. instead of Barack. The saddest thing is if Obama was white he would be way ahead. How ashamed America should be. I'm sure Ashamed to be an American just because it really is beyond stupid these days. How did the "Woodstock Kids" turn into brainless fools - I don't get it.....

So, who lost some money last week? I lost a few thousand getting out of Morgan Stanley (ummm, NEVER sell low but sh*t happens) but now I have a ton of stock in APPLE/MAC and CANON (for you serious Photographer's Canon has the next Generation 5D DSLR - mark II - coming out in November and it is just amazing - 21.1 MP for a camera body under $3,000 USD -

check http://www.pdnonline.com for full details. (click on "NEWS")

The EOS 50 D is also coming out, or is out, if you use that type - not Full Frame - so my money will eventually come back with these 2 companies that KNOW what they are doing. Thanks once again to US Government (we just wouldn't recognize you without all the major f**k ups) - those of you that are permanent expats and NEVER have to set foot in the USA should count your blessings. Being around a lot of ignorant people with loaded guns and and empty heads (the best education Sesame street can offer) just isn't very pleasant - NOT AT ALL.

Still worried and still very pissed, Dudester
PS. So are you WORRIED, ANGRY, or UNAFFECTED ??
 
#2
I am grateful to be virtually debt free, living a higher quality of life on a much lower monthly overhead, here in Argentina than back in Cali. The US is about to receive a shot of reality, and I can't imagine it is going to be pretty. Here in Argentina, people naturally have less, and are ok with it.
Back home, many of our friends are so overextended with gadgets, new cars, toys, etc it is ridiculous.
When we started preparing for our defection from the empire, we got rid of so much stuff. Not only was it liberating, but we don't even miss it.
My good friend just told me that bought a new car. I asked why, since their old one was a nice 2003. He said that his clients (he is in real estate) expect him to have a new car, it reflects on his business.
Excessism, consumerism, greedism, etc is not helping the problems that Dudester speaks of.
 

Fishface

Active Member
#3
Correct me if I am wrong but a person can walk away from a mortgage in the US - and thats it, final no worries.
the rest of the world the banks will take their pound of flesh come hell or high water if you default on a mortgage.
over leverage way way above reality
 

DA

Active Member
#4
"Fishface" said:
Correct me if I am wrong but a person can walk away from a mortgage in the US - and thats it, final no worries.
the rest of the world the banks will take their pound of flesh come hell or high water if you default on a mortgage.
over leverage way way above reality
Ok I will correct you, you are just as screwed in the US as anywhere else in the world if you default on your mortgage.
 
#6
Anytime the States pass legislation quickly the citizens get screwed. Look at the Patriotic Act. If we stilled lived in Chicago we would be more scared, but since we are down here we feel a little relieved. But now, what is going to happen to the rest of the world? How far will the dollar collapse?
 
#7
It just blows my mind to consider what is happening: that we are going to print 700 billion new dollars (no mention of new taxes, so we're just inflating the money supply I guess) to bail out a bunch of investment banks.I keep hearing about how the alternative is an impossible nightmare; the unavailability of credit for years to come. Yet , to me, that is exactly the kind of medicine that America needs. We're a nation of debtors, living far beyond our means, and we need to change.I am lucky to be debt-free; I lead a very minimalist life. The proposed bailout penalizes people like me for making good choices, while enabling continued bad choices on the part of others, and protecting the wealth and status of the rich elites who run the country. Ken
 
#8
There is a silver lining to the mess however; it will probably help the Democrats in the elections. Certainly the days of the Republicans being thought of as the party of fiscal responsibity are over.
Ken
 
#9
"kenmtraveller" said:
There is a silver lining to the mess however;  it will probably help the Democrats in the elections.  Certainly the days of the Republicans being thought of as the party of fiscal responsibity are over.
 Ken
Wish it was true Ken, only problem is McCain is still in the high 40's.... Obama should have about 80% at this point but that old demon Racism is a b*tch to beat for a lot of America's fine citizenship.... it's so pleasant to make oneself feel better (especially when one is deeply insecure) by putting down another group, stereo typing them, and blaming all ills on them. Easy "feel good" exercise....
 
#10
"Dudester" said:
There is a silver lining to the mess however; it will probably help the Democrats in the elections. Certainly the days of the Republicans being thought of as the party of fiscal responsibity are over.
Ken





Wish it was true Ken, only problem is McCain is still in the high 40's.... Obama should have about 80% at this point but that old demon Racism is a b*tch to beat for a lot of America's fine citizenship.... it's so pleasant to make oneself feel better (especially when one is deeply insecure) by putting down another group, stereo typing them, and blaming all ills on them. Easy "feel good" exercise....
Well, now they're saying they will bail out the foreign banks too. Somehow I can't imagine that playing well with the Republican base. Haha. Ken
 
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