Home Forums Hunting & Shooting Hunter's Campfire Economy "Should Improve"

The government didn't force them...it was a ponzi scheme but it was their own doing. The .gov forcing them into it was the spin that Limbaugh picked up on, but as it turned out, less than 20% of the bad loans were the government backed/mandated loans.

The banks had a very elaborate scheme going on in the derivatives market, and they were convinced the housing market would never go down. Most don't realize it, but if it was just the housing market and bad housing loans, we wouldn't have really had the big economic meltdown that we had.

No the real meltdown was the derivatives market, and .gov had NOTHING to do with that.

Since you've seemed to just swallow the spin on what happened, I doubt you'll take the time to read what REALLY happened, but on the off chance you're interested, here's the official report: http://www.gpo.gov/fdsys/pkg/GPO-FCIC/pdf/GPO-FCIC.pdf

The economy is what it is. You can wring hands and hate it, or you can make a bunch of money and position yourself for what comes next.

Yep, you have to make something to create wealth. The promotion of an economy based on taking in each other's laundry is akin, economically speaking, to a scientific proposal for a perpetual motion machine. But the folks who drove our industry out knew perfectly well what they were doing.

You sound like a pitch-forker. Pat Buchanan has been saying exactly that for decades. He was right.

Yep.

Now that's funny... you spin that 20% of failed loans that were 'mandated' as if 1/5th statistically is inconsequential.

And if I'd just understand that derivatives were a legal ponzi scheme...

Or the construction industry that historically shouldered 4.5 millions jobs annually for 25 years, not including the 6+ million during the boom years, would fall to 2.2 million jobs for the last 6 years... that in itself isn't an economic national disaster...

Or the .gov had nothing to do with deregulating the derivatives market in what? 2000 or so.

Kent

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Good post, Will.

I'd like to add that the overwhelming burden of a bloated .gov will continue to crush the life from our economy, no matter what it does.

Yet...dumbass Americans still fight the export of natural resources.

Yet dumb ass voters still re-elect dumbass people to be president.

it's pretty clear that no one and I mean no one has a clue as to how the new capitalism and the new socialism are going to fit together. the Obamacare debacle involves 12 or so percent of the economy, maybemore.

our natural resources, at the core, is what we have, plus our human capital and technology.

somebody point to a well accepted monetary theory, and we'll get the horse up on all fours walking again. until then, she's lying on her side.

We know exactly how it works. When you keep the government out of capitalism,it works very well.

As for Monetary theory:

Manufacturing won't save a damn thing, as most factory jobs pay little more than burger flippin' {and far less than waiting tables] now that most are non union. Around here, most factory work pays 9.00 - 11.00 per hour to start and it takes years to work up to a liveable wage. Folks making that kind of money aren't buying anything beyond the bare nessesities and ain't gonna stimulate schit.

And that's why it's better for us to let the Asians make the paper umbrella's that we throw away when we are done with our beach drinks.

Manufacturing with high human capital requirements are a horse of a different color, and that's where we need to be working to throw off the shackles of high corporate taxes and regulation and turn loose the beast that is the American Worker.

We ain't got any paper umbrella factories hereabouts. Not a one. We do have ones that make yogurt, plywood, wood pellets, fork lifts, calendars, date/address books and guns and what I said applies.

Manufacturing is a noble pursuit, but we need to manufacture quality goods that are in demand on a world wide scale. Added to that, we need to find a way to raise pay for the average worker. Worker wages have been stagnant for nearly 30 years and are now headed downward; that's really bad news for our economy over the long term.

Everyone seems to be pissed that the US is heavy in the service industry. But that's a very viable industry because our know how is something we can trade well on the world market, is in high demand, and those who work in professional services industries tend to make good wages.

The US financial industry is the one business sector we need to be worried about, because they took down our entire economy just a few years ago. We need financial service, no doubt about that. But we need to know the system is stable, so it's the one industry we need to monitor and regulate. Don't interfere, just keep an eye on them and don't trust them.

It's not about stimulus. It's about wealth creation. There are only three ways to acquire wealth, 1) make it, 2) steal it, and 3) receive it as a gift. But someone has to be making it first. If not, residual wealth from earlier creation gradually dissipates. Stimulus doesn't create wealth. It just shuffles around the residual wealth.

The only people factory work will create wealth for is the few at the top and those folks are already wealthy.