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by shadows

Last Post 21 hours Ago


The financial crisis of our nation is becoming more and more pronounced with the spiraling stockmarket,  increased number of banks and financial institutions on "watch lists," and even the need to bolster the assets of the FDIC.

Sept. 4 (Bloomberg) -- The U.S. government needs to start using more of its money to support markets to stem a burgeoning ``financial tsunami,'' according to Bill Gross, manager of the world's biggest bond fund.


The financial crisis is no longer limited to the U.S. but is also having its effect on the world economy.  For many years, the U.S. has been viewed as not only a good investment, but a safe investment.  However, the corporate scandals and failures, and risky practices of  our financial institutions among other things have resulted in a financial crisis of epic proportions.  

Our country is not only broke, but is rapidly losing the confidence of the rest of the world, which means that flow of money from China and elsewhere could be cut off or at least tightly controlled in the future. 

What should be done to prevent a total collapse of the U.S. economy similar to what occurred in the former Soviet Union? 

Will it be necessary to disband our national/federal government in favor of a number of state/countries like those resulting from the collapse of the Soviet Union?

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Member Comments Total Comments: 14
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toddt read my blog
Sep 5, 2008 | 9:19 AM

We need Pelosi to take a slow drive this weekend over the Grand Canyon........it is the dems that run congress if we are being honest with ourselves that is when the problems started.

shadows read my blog
Sep 5, 2008 | 9:54 AM

toddt, I hate to be the bearer of bad news, but the credit card availability increased as a result of loosening federal usury laws in the nineties, and the subprime mortgages began to increase in the nineties and there was a significant gain in the number of them between 2004-2006.

If I remember correctly during the 90s when Clinton a Democrat was President, Congress was controlled by the Republicans and during all but the past two years had remained Republican control.

So the present crisis is not necessarily a partisan blame type of thing. Our Federal government has been out of control for sometime and deficit spending and the shell game that has been played with Social Security is about to have its day of reckoning. Just imagine how much money the large baby boom generation has paid in Social Security tax. What happened to all of that money? Government spending has been steadily increasing since 2001.

Any other suggestions? How about individual states becoming independent country/states?

Nightmare read my blog view my photos
Sep 5, 2008 | 10:06 AM

"A period during which business, employment, and stock-market values decline severely or remain at a very low level of activity" is dictionary.com defination of a depression. Yeah we are like on a very thin wire. Everytime I go out, I see more businesses going out of business.

Like the Great Depression...hey wasn't the president at the time a Republican...yep Hoover was a Republican according to Wikipedia. But ya wanna know what's kinda funny? What brought about the end of the depression was WWII...well we're already at "war" so...yeah I'll just say it. This country is either screwed or...

I'll let someone else fill in that or, because I honestly don't know what I can put there. Come optimists say something positive! For once, I want someone to prove me wrong!

shadows read my blog
Sep 5, 2008 | 10:56 AM

Nightmare, I'm optimistic about survival, but not in the country's present form or habits. The unskilled working class is going to really tumble as far as living standards. The middle class is going to shrink tremendously and the upper class is going to continue to get richer.

In addition to government bailing out the financial institutions and some other businesses, there have been recent requests for them to also put money into the stock market to help prop it up.

MrAsphalt read my blog
Sep 5, 2008 | 11:44 AM

FOR ONCE I HAVE TO AGREE WITH SOMEOME. THIS COUNTRY IS SCREWED!!!! MOSTLY BECAUSE OF THE "WAR"!!! OVER A BILLION DOLLARS SPENT ALREADY!!!! AMENDMEND ONE AND NOW LADIES AND GENTLEMEN AMENDMENT FIVE!!!! GET THE RUBBER HOSE OUT!!!! WHO IS THE ANSWER NOW?????THERE ALL THE SAME!!!! IT'S ALL POLITRICKS!!!!! IT'S LEFTY,OR OLDIE BUSH'IT!!! THE EYE IN THE SKY IS THE DRAGON!!!! REMEMBER THAT!!!

shadows read my blog
Sep 5, 2008 | 12:19 PM

By definition of the "Global economy" the economic classes world wide will share the same standards of living. In other words, the unskilled labor class in our country will only be able to afford what the same class in India or China can afford and will live accordingly.

National distinctions and boundaries are fading fast. Russia is having extreme difficulties in establishing and maintaining their national identity as the far East migrates west towards Europe which has already consolidated, but not without a continued influx of immigrants.

MrAsphalt read my blog
Sep 5, 2008 | 1:35 PM

SO THE U.S. ISN'T THE ONLY COUNTRY GRIPING ABOUT IMMIGRANTS I SEE!!! WHY DON'T WE PACK UP ALL ABLE BODY "AMERICANS" ON WELFARE,AND TRADE THEM TO MEXICO!!!! IN EXCANGE FOR THE HARD WORKING PEOPLE THAT COME HERE!!!WE WILL SOON ALL BE ONE NATION THE U.S. CANADA AND MEXICO!!!
DON'T FORGET THE C.E.O. CHINA!!!!

shadows read my blog
Sep 5, 2008 | 3:43 PM

MrAsphalt, Russia as I said is slowly losing its Eastern areas to the Chinese who need more room. About one half million immigrants per year encroach on Russian territory sometimes marrying Russians, etc. Japan is also being invaded by both Chinese and Korean illegals and the Japanese people are making a lot of noise. Of course anyone that has been to Britain, knows that they are also being taken over by immigrants from the Middle East and elsewhere.

As a result of these movements we are witnessing empire building not unlike what we have seen in the history of such leaders as Alexander the Great.

Hopefully our future leaders will have enormous knowledge in the areas of foreign affairs/relations as well as in economics. Of course one can not be expected to have that much in-depth expertise, but he or she must have the abilities to gather the people who do and use their knowledge.

shadows read my blog
Sep 6, 2008 | 8:45 AM

I find it interesting that the responses to this blog on one of the important issues (the economy) to our nation seems to mirror the political activities during these presidential races.

The rumors, and personal attacks seem to take precedence over the important issues facing our nation......imagine that!!

davidpatrick344 read my blog view my photos
Sep 6, 2008 | 1:08 PM

shadow i put on a blog where biden co sponsered a bankruptcy reform act that has cost hundreds of thousands there homes he wasnt alone but he was the sponser and made thousands by doing it now the banks are failing and people are losing their homes and hes the dem

CynPro read my blog view my photos
Sep 6, 2008 | 2:43 PM

Why not fix the situation... stop using money.
Money has whatever value we say it does.
Print more. Print less. Doesn't really matter.
We need to take control of the board.

shadows read my blog
Sep 6, 2008 | 3:59 PM

cynpro, Although it is a very controversial issue, I think that your statement about money having "whatever value we say it does" points to the underlying problem And that started when we left or abandoned the "gold standard" in our country. Money is simply too easy to print when the government runs out and doing so.

Of course we will probably soon begin using Chinese currency since so much of our debt has been financed by them.

tvlover read my blog
Sep 6, 2008 | 8:40 PM

the republicans are for the rich.....

and the Democrats are for the poor.....

There is no middle class!!!!!!!!
i've always voted democrat and I'll die a democrat..bush put this country in a mess...

shadows read my blog
Sep 7, 2008 | 12:39 PM

But this country elected Bush, so who is responsible for the mess? The Democrats, the Republicans........none of their philosophies would exist without the support of a large number of the citizens.

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Member Since: 8/27/2006