shadows's Blog

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, 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.

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, 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.

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, 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.

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.