Comments on: Burn Baby, Burn! (the economy)

By: Bob C..

Bob C.. — Sun, 15 Feb 2009 21:14:09 +0000

Just to be very clear, Sir, the entire economy does run on credit – that's how money becomes money. That's right, when you go to get a loan for a car at your bank of choice they “create” the money. They don't have $7000 in capital sitting in their bank – they may have as little as a few hundred dollars. By writing your note they have written money into existance. You don't have to think about the implications very long before an “oh shit” moment hits you. For example: If all debts were paid in full then there would be no money in circulation. What this means is that the economy must continue to grow or it collapses – this is obviously not 'sustainable' – to use a buzzword. It appears as if this system has an automatic collapse mechanism built right in!

By: Daniel

Daniel — Tue, 30 Sep 2008 15:47:17 +0000

From AP, via MSNBC: In brief remarks at the White House, Bush warned that, “if our nation continues on this course, the economic damage will be painful and lasting.”

Maybe we need some pain to bring us out of this dreamworld so many live in today. Wake up from your Prozac coma and realize that everything isn’t always rosy and cheery.

You don’t need that iPod, you WANT it. Quit overextending yourself and I bet your life will be better. Maybe then you wouldn’t have to worry so much about how you are going to pay your monthly bills.

By: David K

David K — Sat, 27 Sep 2008 01:18:12 +0000

Very well said, I agree completely. However, here’s the rub… one of our political parties wants the tax payers to pay the tab for everyone’s housing. You see, over the last 40yrs one party has made it their cause to add several amendments to our Bill of Rights.

These include:
11) The right to a job
12) The right to own a house
13) The right to marry whomever you want, same sex is OK
14) The right to kill a fetus because it doesn’t fit your lifestyle

I could go on, but you get the idea. This whole mortgage mess started in 1977 with the CRA bill, signed by Carter. Then came Clinton and his push to ease lending laws to those near poverty. In every case, Democrats eased the lending laws and block all efforts for oversite.

And now they want to put themselves in charge of the oversite for a $1Trillion tax dollar bonanza to solve a mess they created.

Don’t think so, Sherlock….