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Thread: Chronic unemployment worse than Great Depression

  1. #21
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    Re: Chronic unemployment worse than Great Depression

    The blame goes to Americans in general.

    People vote for what serves themselves best, whether it's to provide a lower tax shelter, allow them to marry their gay partner, allow them to smoke weed, get an abortion, or just to stick it to everyone because they're ashamed of their own life's choices.

    Personal responsibility and morality mean less and less the more we legislate it out of society.

    As a result, politicians play to those voting tendencies. Clinton was a master at it.

    Until people start voting at least a little for things that don't always involve them, nothing will change.

  2. #22
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by The Giant Noodle View Post
    Very well said. Darn near PERFECTLY said. Look at my signature. Every day... EVERY DAY!!!!!!!!!!! Common Americans are bombarded with propaganda. For what? FOR NOTHING! We have betrayed by people we put into office so THEY can get reelected. Thing is..... I currently have no solution. WE... have no solution. So, like most Americans Im going to get something to eat. From an illegal that whipped up a giant burrito.
    you have to REALLY want a solution before you can come up with one (by you i mean us americans)

  3. #23
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by Erod View Post
    The blame goes to Americans in general.

    People vote for what serves themselves best, whether it's to provide a lower tax shelter, allow them to marry their gay partner, allow them to smoke weed, get an abortion, or just to stick it to everyone because they're ashamed of their own life's choices.

    Personal responsibility and morality mean less and less the more we legislate it out of society.

    As a result, politicians play to those voting tendencies. Clinton was a master at it.

    Until people start voting at least a little for things that don't always involve them, nothing will change.
    It takes a different kind of person to include support for gay marriage as a reason for America's economic issues.
    I refuse to accept the view that mankind is so tragically bound to the starless midnight of racism and war that the bright daybreak of peace and brotherhood can never become a reality. - MLK

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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by danarhea View Post
    Hey, folks. Lookie here. Within minutes, someone comes in here and makes a post that perfectly proves my point.
    Prove what ****ing point?

    You need to read up on your US History.

    Roosevelt was the father of American socialism. The New Deal fed right into the Great Society, and as a result we're currently poised to become France circa 1985. Due to entitlements set down by these programs, we can no longer afford capitol projects on the scope of large dams and the interstate highway system. Within a decade or two we won't be able to project military power abroad. Yet anyone who actually works for a living is taxed to within an inch of their sorry ass lives. ...And all this is somehow a good thing?

    I lay the lions share of blame for this at the feet of Roosevelt and Johnson.

    Roosevelt's legacy is arguably a bigger danger to a free America than the Nazi's ever were.

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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by danarhea View Post
    Where the hell is the sense of patriotism and sacrifice that existed in the 1930's, when our leaders put America before politics? If America goes to hell in a handbasket,
    In the 1930's people put America before politics?

    What the ****? Have ever even bothered to listen to one of FDR's radio broadcasts? Ever listened to some of the talk in general at the time? What history books have you been reading?

  6. #26
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by danarhea View Post
    Ain't that the truth. And while Republicans and Democrats continue to point the finger at each other, our nation continues to burn. So, to Democrats and Republicans both, I am going to be very blunt.

    1) Bush policies began the Great Recession.

    2) Obama policies have continued the Great Recession.

    There is no other way to look at it, except that ALL of our leaders have been selling us out.

    Look, folks here is the deal. I get madder every day I see Bush people pointing the finger at Obama, and Obama people pointing the finger at Bush, while ignoring their own guy. Where the hell is the sense of patriotism and sacrifice that existed in the 1930's, when our leaders put America before politics? If America goes to hell in a handbasket, I will blame them all, Republicans and Democrats alike. In case anybody forgot, today's politicians, no matter which party, are all scum bags.

    Article is here.
    The Republocrats have been working the partisan angle well for some time now. Fact of the matter is, unemployment is still currently above 9%. We're putting off funding for necessary infrastructure work while continuing introventionist wars in foreign countries. Nothing the government has done, Bush or Obama, is to benefit the majority of America. It has all been bailouts to the super rich and huge corporations and banks. They took our money and gave it to them. Then when they're clear of the fire, it's over....problem solved. At least so much as government is concerned.

    In the end, it was never supposed to be Republican vs. Democrat. It was meant to be The People vs. The Government. We need to keep that in mind. There were plenty of things the government could have legitimately done to ease the hard times for the majority of America. But they did the exact opposite, continue to do the exact opposite, and people on both sides continue to condemn the other party while exhalting their own; even though functionally they're doing the same damned thing. The play to the banks by both sides has been damaging to the Republic and to our liberty.

    "The end of democracy and defeat of the American Revolution will occur when government falls into the hands of the lending institutions and moneyed incorporations."

    "If the American people ever allow banks to issue their currency, first by inflation and then by deflation [by having to maintain a vital circulation by perpetually re-borrowing principal and interest as subsequent sums of debt, increased perpetually so much as periodic interest], the banks and [bank owned] corporations which will grow up around them will deprive the people of all property, until their children wake homeless on the continent their fathers conquered. "
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

  7. #27
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by donsutherland1 View Post
    No, but it was the main trigger that ignited the crisis. The dynamite was enormous secular rise in domestic nonfinancial debt, the interrelationship of securities with debt (mortgage-related securities, derivatives), a lack of adequate financial system capital buffer, bad risk management, financial system linkages, current account imbalances that saw a short-term rush of capital inflows that exacerbated the structural weakenesses/accelerated the rise in the housing bubble, etc. Households, the private sector, and public sector all contributed. Technology and regulation converged creating new mechanisms e.g., securitization, that while useful in and of itself, could lead to rapid debt escalation if unchecked (regulations, private sector risk management, lack of understanding of exposures, etc.).

    Nonetheless, in what was largely a private sector debt crisis, the housing bubble played the leading role. Once the bubble burst, its fallout spilled over into the financial system, gradually at first, but then at an accelerating rate once financial institutions began failing 18-24 months after housing prices had begun to decline. The mortgage debt binge proved devastating as housing prices fell.

    Some statistics on the overall debt binge, which continues today even as it has been tempered by household deleveraging:

    For every dollar of GDP increased from 1980-2007, the following occurred with respect to various debt:

    Domestic Nonfinancial debt: $2.37
    Household: $1.08
    Mortgage: $1.13

    Now, looking at the housing bubble era, here's what happened in the 2002-07 period for the same data:

    Domestic Nonfinancial debt: $4.45
    Household: $2.14
    Mortgage: $2.43

    Moreover, the debt levels relative to GDP were as follows:

    1980:
    Domestic Nonfinancial debt: 142% of GDP
    Household: 50% of GDP
    Mortgage: 52% of GDP

    2002:
    Domestic Nonfinancial debt: 194% of GDP
    Household: 80% of GDP
    Mortgage: 78% of GDP

    2007:
    Domestic Nonfinancial debt: 225% of GDP
    Household: 98% of GDP
    Mortgage: 102% of GDP

    During the 2000s, domestic nonfinancial debt rose at just over $3 for every dollar of GDP. Since the end of the recession, household deleveraging (modest but sustained) has continued with public sector debt being substituted for household debt. Domestic nonfinancial debt is rising at a still brisk but slower rate of just over $2.40 per additional dollar of GDP. However, were household deleveraging to end, the rate of increase would be running at just over $3.50 per dollar of additional GDP. Household deleveraging won't continue indefinitely. Hence, the nation remains on an unsustainable debt course. As of 2010 Q4, domestic nonfinancial debt was 244% of GDP, household debt was 90% of GDP, and mortgage debt was 92% of GDP. Prior to the housing bubble, peak mortgage debt came to approximately 67% of GDP.
    No doubt that you have far more financial knowledge than I do, but I think that you are right in that the housing crash was a catylist to the fall, but we have other bigger problems now, such as the culture of spending in DC that absolutely refuse to look at our situation in any meaningful way. We keep the huge unfunded liability welfare programs because we have a culture of the recipiant class voter that is sadly now at nearly half of every voting block out there.

    We need strong leadership, and not lead by the sensational press to focus on specticle BS like Wienergate, and get down to saving this country, if we still want it that is.


    j-mac
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by danarhea View Post
    1) Bush policies began the Great Recession.

    2) Obama policies have continued the Great Recession.
    If we could get both sides to admit this then we would have made some huge progress. The first step to recovery is admitting you have a problem, and I don't think either side wants to take a hard look at the policies their respective leaders have endorsed and how they contributed to our current economic situation.
    Quote Originally Posted by Bucky View Post
    The economy will improve under this bill. If a few people die, it will be for the betterament of this country.

  9. #29
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by j-mac View Post
    We need strong leadership, and not lead by the sensational press to focus on specticle BS like Wienergate, and get down to saving this country, if we still want it that is.


    j-mac
    I've been saying that for awhile now. But it seems like we desire to turn everything, even news, into some form of entertainment.
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

  10. #30
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    Re: Chronic unemployment worse than Great Depression

    Quote Originally Posted by CriticalThought View Post
    If we could get both sides to admit this then we would have made some huge progress. The first step to recovery is admitting you have a problem, and I don't think either side wants to take a hard look at the policies their respective leaders have endorsed and how they contributed to our current economic situation.
    Why admit where you went wrong or where you can do better when you can instead engage in endless partisan bickering and pissing contests while people eat it up? Just point fingers while refusing to do anything.
    You know the time is right to take control, we gotta take offense against the status quo

    Quote Originally Posted by A. de Tocqueville
    "I should have loved freedom, I believe, at all times, but in the time in which we live I am ready to worship it."

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