In a Gloomy Economy, Signs of Light

•  
  antdido09/16/08 Report as spam
  1

  RE: In a Gloomy Economy, Signs of Light

  What type of "Herculean effort" must the government make to restore consumer confidence?

•  
  Mabiz09/16/08 Report as spam
  2

  RE: In a Gloomy Economy, Signs of Light

  I agree with the article- one thing we need to address as consumers is to be smarter about where we put our money- we need to take personal responsibility to know what is going on at the finance houses we utilize. And we need to say "no" to CEO's and other upper management walking away from disasters they helped create with millions and millions of dollars- I'm not for government regulation, but when I read or hear of these abnormal management salaries (Exxon Mobil?) I don't buy their products if at all possible. And lastly, when did our American culture turn in to such a "I gotta have it" mentality where we are constantly trying to gouge each other to make one more dollar than everyone else? When did flashy cars and super-enormous homes and owning all the latest technology become more important than managing our money so that we have enough retirement and not always relying on the government? Americans are so fat in so many ways- this finance crisis should have us looking at ourselves and each other and saying "when is enough, enough?"

•  
  john.decoville@...09/16/08 Report as spam
  3

  RE: In a Gloomy Economy, Signs of Light

  First, the Feds must take care of the middle class which is at least 70% of the economy. A rebate check of $1,000 would stave off a very gloomy Christmas.
  
  
  
  Instead of bailing out the high-rollers, we need the middle-class given new tangible (actions, actions are what count!). Enough of the "Basics look really solid," that has been repeated so much. This situation is beginning to look a lot like Herbert Hoover's "prosperity is just around the corner.".
  
  

•  
  stevenchao09/16/08 Report as spam
  4

  RE: In a Gloomy Economy, Signs of Light

  Create jobs to those who want jobs. The jobs should stay ahead of the inflation. Jobs promote self dignity and income. Two critical factors will help shape our human infrustructure.
  
  From there we'll continue our climb back. It has to happen from within. Unfortunately, this will require assistance from our Fed and leaders. What concern me is the fragil confidence. Enough BS, not enough is trickling down to the middle and lower class.

•  
  jec910909/16/08 Report as spam
  5

  RE: In a Gloomy Economy, Signs of Light

  The only "heculean effort" that consumers can offer is to buy more stuff. Unfortunately, the ripple effect of this corporate welfare will further strain the pocket of the American consumer. So for many, spending more on "stuff" is not going to be as much of an option. I assume consumer spending will continue to fall, unemployment will continue to rise, the stock market will continue to struggle and the economy will continue to waver. The light at the end of the tunnel will come when this recession ends...How that happens, I don't really know.

•  
  jec910909/16/08 Report as spam
  6

  RE: In a Gloomy Economy, Signs of Light

  The only "herculean effort" that consumers can offer is to buy more stuff. Unfortunately, the ripple effect of this corporate welfare will further strain the pocket of the American consumer. So for many, spending more on "stuff" is not going to be as much of an option. I assume consumer spending will continue to fall, unemployment will continue to rise, the stock market will continue to struggle and the economy will continue to waver. The light at the end of the tunnel will come when this recession ends...How that happens, I don't really know.

•  
  dvwright09/16/08 Report as spam
  7

  RE: In a Gloomy Economy, Signs of Light

  Let's see where to begin to respond to the above. "Corporate welfare" is an interesting concept when the US has the 2nd highest business taxes in the developed world. So taking a lot of a business' money and then giving it back to them to do exactly what you ask them to do is welfare??
  
  What IS welfare is the so called "stimulus" checks which are nothing other than poliicians buying votes in an election year. That plus one candidates promise to cut the taxes for 95% of Americans. Given that 40% pay no income taxes, this means that people will be getting a check for taxes not paid. Which is ANOTHER form of welfare, otherwise known as income transfer - which is one of the original communist doctrines (from everyone's ability to everyone's need).
  
  Let's see, who haven't I offended yet. Oh ya, take all of the salaries and bonuses for ALL of the 500 CEOs and give it to the American public and it wouldn't pay for a decent Starbuck's coffee.
  
  This country has too much of the population expecting the government to take care of them regardless of whether they are too lazy, too stupid or juste plain don't care who pays as long as they get theirs. Let's all grow up.

•  
  pingpaul09/16/08 Report as spam
  8

  RE: In a Gloomy Economy, Signs of Light

  Pogo had it right: "We have met the enemy and it is us!"

•  
  davewike09/16/08 Report as spam
  9

  RE: In a Gloomy Economy, Signs of Light

  you hit the nail on the head, dvwright. I think a lot of people need to be offended, but hopefully they won't stay there... they'll see the error in their ways and grow up.

•  
  techrepreader09/16/08 Report as spam
  10

  RE: In a Gloomy Economy, Signs of Light

  Two words for the US economy "prudential regulation". Look Australia has reasonable prudential regulation it is not perfect but it is miles better than the US where the GOD of unbridled Capitalism is worshipped as though it is all good. Unbridled capitalism is in the same boat as unbridled socialism.
  
  Entrepreneurs are not the good guys they are simply people out to make a buck (which I think is a good thing) but it must be done responsibly .
  
  Multinational companies in particular are basically amoral ie. their aim is to maximise the share price for investors and again I say this is not a bad thing. However this needs to be kept in mind, they are not here to do good but to make a profit. Thus somewhere somebody has to give oversight to these activities. Now obviously the Republican party has philsophical view that business is always good so has not bothered to look after the economy. What has happened is the US has ended up with the biggest nationalisation since World WAR 2 with Freddie Mac and Fannie May.
  
  It would have been better for the US and ultimately everybody else if there has been balanced regulation of the financial industry in the US.
  
  By the way B of A got Merrill Lynch for 1/3 of what it would have cost 12 months ago. "Not a fire sale" - I don't think so.

•  
  chen-id09/16/08 Report as spam
  11

  RE: In a Gloomy Economy, Signs of Light

  I don't think so, sir... One decision didn't
  cancel out a bad situation. It's just a game,
  but it's a high level one.

•  
  jec910909/16/08 Report as spam
  12

  RE: In a Gloomy Economy, Signs of Light

  The comments above seem to be little more than defending rich people and corporations for the sake of defending them all because of the phrase "corporate welfare"...which it is.
  
  Stimulus packages are indeed rife with fraud since millions upon millions of illegal aliens claim them each year and president after president has doled them out for decades. Also, it's not 40% of Americans not paying taxes, it's 40% of people living in America. So...135M of those are illegal immigrants...largely hired by giant conglomerates and being paid much less than minimum wage. That's another debate for someone who cares.
  
  Ripping on one candidate's tax proposal and not the other's in this context doesn't make sense other than inserting a political jab. Ridiculous. It's doubtful less people are going to buck the system under one candidate than another.
  
  Whether the communist remark is directed at the stimulus check or a tax plan is not clear. If the arguement is that anyone making more than a middle-class wage (those making at least $5M apparently, according to "one candidate") should pay more taxes, just say that. Cutting taxes is a great thing as long as the cuts are justified on the basis of truly doing away with wasteful spending. One example might be the 110K Department of Agriculture employees. What are they spending $70B a year on?
  
  Next, as separate entities, what exactly have these giant's paid in taxes already, what have they already received back (before these bailouts) and haven't they NOT done what they were supposed to do and isn't that in fact why they are being bailed out in the first place by the Fed? Their very own "stimulus packages!" But it's ok because they paid their taxes?
  
  People SHOULD be upset that The Fed didn't do its job and also upset they are now bailing out corporations (albeit now a virtual necessity). The Fed is the bank's bank! They are responsible for setting policy and making sure policy is carried out as well as managing the nation's money and overseeing finacial institutions. This IS their job.. Managing the nation's money is the most important job they have and they had their heads in the sand! If they aren't going to do their job, perhaps we can go back to trading any old currency we want and do away with the current system all together because if hindsight is their brand of influence, I am not so sure it's the best way to do things.
  
  Of course, perhaps hidden beneath the odd talking points about rich individuals and poor individuals, the point was meant to be that somehow The Fed has been keeping a very close eye on all these financials. That squeezing them until the well ran dry was their way of realigning the market once again and beginning to reign in some of that over-deregulation that's been going on for so long. I wouldn't give the government that much credit though.
  
  Who knows? The stock market went up today. Perhaps our long 24 hours of hardship is over.
  
  What is point of the CEO salary remark? If someone is a failure, they are a failure no matter what they make/made. But this wasn't some CEO, this was mismangement across the board all the way up to The Fed. Thousands of jobs were lost right across the street seemingly overnight. Taxes from those salaries help keep our city's infrastructure afloat. For every one job at Lehman, three jobs were created in NYC. What does that have to do with a CEO salary?
  
  Finally, Starbucks has decent coffee??

•  
  bala.csbn@...09/16/08 Report as spam
  13

  RE: In a Gloomy Economy, Signs of Light

  For Lehmann`s to have happened, I gues the Feds must have beenm asleep. What investments have the Lehmann`s and their ilk made that have caused this debacle. Is there no regulation - no law, that protects the small investor and the tax payer, say in terms of directed or regulated investment within te overall portfolio. Or is there a provision for merely bailing out rogue FIs. Surely this would undermine confidence in the Central Bank.
  
  Its time for a wake up call.

•  
  HumZ209/16/08 Report as spam
  14

  RE: In a Gloomy Economy, Signs of Light

  To quote Paul Craig Roberts, Assistant Secretary of Treasure in the Reagan Administration: "A country that had intelligent leaders would recognize its dire straits, stop its gratuitous wars, and slash its massive military budget, which exceeds that of the rest of the world combined. But a country whose foreign policy goal is world hegemony will continue on the path to destruction until the rest of the world ceases to finance its existence."
  
  The United States is said to be the new Rome, could this be the turn of this chapter in human history and the inevitable demise of another empire inebriated by it's sheer strength - Persian, Roman, Ottoman, British, French.. all empires come to an end, amusingly the same way.

•  
  Ray Vosari09/18/08 Report as spam
  15

  RE: In a Gloomy Economy, Signs of Light

  The great "hope" of the new amerikan century is over...this export (financial services)aka scheeming dishonesty can be done by anyone anywhere !

•  
  gonnif09/21/08 Report as spam
  16

  RE: In a Gloomy Economy, Signs of Light

  "Buddy Can You Spare a Dime"
  
  With the financial upheavals and comparisons to 1929, though an update lyric and audio was in order
  
  http://www.dumbpolitics2008.com/wordpress/?p=169
  
  Once I had a mortgage, an ARM
  The rate was just below prime
  Once I had a mortgage, that was then
  Buddy can you spare a dime?
  
  Once I had a broker, Merrill Lynch
  Lehman Brothers, what a time!
  Once there was a Bear Sterns and AIG
  Buddy can you spare a dime?
  
  Once I had investments, a 401(k)
  They were just doing so swell
  Once I had a pension, but it went away
  Retirement???s gonna be hell
  
  Say, don???t you remember, they said ???invest!???
  They said ???invest??? all the time
  Now there is recession it???s such a mess
  Say buddy, can you spare a dime?
  
  They used to tell me to go buy a house
  I didn???t need that much down
  That???s when the market was good and high
  But now I feel, like I???ll drown
  
  They used to tell me to I was building some wealth
  Invest and you???ll get ahead
  Why should I feel so broke
  I???d be better off dead
  
  Once I had a Beemer, and an SUV
  Guzzled gas all the time
  Now it???s just the bus and a bike for me
  Can you spare a dime?
  
  Once I had some coffee, Starbuck???s best
  The taste was just so sublime
  Now I use the cup to beg hard-pressed
  Can you spare a dime?
  
  Once I had investments, a 401(k)
  They were just doing so swell
  Once I had a pension, but it went away
  Retirement???s gonna be hell
  
  Say, don`t you remember, they said ???invest!???
  your money will grow all the time
  Now my money???s worthless, I am so depressed
  Say buddy, can you spare a dime?