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Fed Rate Cuts Are Helping Economy, Not Credit Crisis
CNBC ^
Posted on 03/18/2008 8:18:23 AM PDT by Lazamataz
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To: Lazamataz
The economy we have today is a mere shell of what it use to be. When we purchase almost any product we are not putting money in American pockets. For the past 10 years we used rising stock prices and rising home prices to fuel our economy. We also accumulated record amounts of debt during that time. What happens to a service and credit based economy when there's no more credit and no more asset appreciation?
21
posted on
03/18/2008 9:46:45 AM PDT
by
peeps36
(OUTLAWED WORDS--INSURGENT,GLOBAL WARMING,UNDOCUMENTED WORKER,PALESTINIAN,TERMINATED PREGNANCY)
To: dragnet2
Well low and middle income people can just live off debt, the system we have now would marginally benefit that decision. People who aren’t in debt yet living paycheck to paycheck will get hurt a lot, and people who live within their means and invest conservatively in cash, CDs, and bonds will get hurt.
No system has sustained long term growth by punishing conservative savings and encouraging debt. Its like trying to re-write the laws of nature to benefit bad behavior.
22
posted on
03/18/2008 9:47:27 AM PDT
by
underground
(Viva la Socialisme Wall Street)
To: peeps36
What happens to a service and credit based economy when there's no more credit and no more asset appreciation?
We're all gonna die????
23
posted on
03/18/2008 9:49:37 AM PDT
by
Lazamataz
(We're all gonna die!!!!)
To: Lazamataz
Look at Bear Stearns. It may be no coincidence that the biggest casualty on Wall Street thus far was suffocating under a blanket of mortgage-backed securities. And the blanket's woven material?
I'm guessing that once the mortgages were bundled and securitized the bits and pieces from that process were bundled and securitized, then the bits and pieces from that process were bundled and securitized . . . .
Whatever happened, I've heard the term "financial innovator" used to described the architects of what did happen.
Isn't that just an euphemism for con man? Didn't Michael Milken serve time for an earlier round of "financial innovation." And what about Charles Ponzi, it seems that these "financial innovators" today created a kind of nuclear fission-fusion pyramid?
And for that.. the taxpayer may have to support "government interference" (in sunnier days, hated "government interference") which will likely be needed to bail out the con men, dust 'em off, hand 'em their 100-million dollar salaries, and send 'em back into the ring to do.. what? What's next?
24
posted on
03/18/2008 10:52:15 AM PDT
by
WilliamofCarmichael
(If modern America's Man on Horseback is out there, Get on the damn horse already!)
To: underground
People who arent in debt yet living paycheck to paycheck will get hurt a lot, and people who live within their means and invest conservatively in cash, CDs, and bonds will get hurt. No kidding?
25
posted on
03/18/2008 5:19:58 PM PDT
by
dragnet2
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