Whose fault is the recession?

[Nebe]

The recession is the fault of our government basically encouraging US companies to export jobs overseas to keep profits in check. Less high paying jobs in the U.S. meant less people were able to pay their mortgages and the result was the collapse of the banks that were leveraged 30 or 50 to 1...

Whose fault was it? Every person who buys products made in China is to blame. Buy American.

[BigFish]

What Eben said! Can you say NAFTA?

[afterhours]

Originally Posted by Nebe

The recession is the fault of our government basically encouraging US companies to export jobs overseas to keep profits in check. Less high paying jobs in the U.S. meant less people were able to pay their mortgages and the result was the collapse of the banks that were leveraged 30 or 50 to 1...

Whose fault was it? Every person who buys products made in China is to blame. Buy American.

for the 3rd time ever - what he said....

[stcroixman]

I agree with the loss of jobs overseas, but all of us that borrowed, borrowed, borrowed are to blame as well.

Real estate lawyers and mortgage brokers will drive uo prices again.

remember the first real estate crash circa 1989? things were terrible until around '92 or '93.

Any coincidence that each time a Bush was in office? Too bad Obama was elected to fix the problem. he has made it worse

[Karl F]

Originally Posted by Nebe

The recession is the fault of our government basically encouraging US companies to export jobs overseas to keep profits in check. Less high paying jobs in the U.S. meant less people were able to pay their mortgages and the result was the collapse of the banks that were leveraged 30 or 50 to 1...

Whose fault was it? Every person who buys products made in China is to blame. Buy American.

another AMEN, from the amen chorus..
only thing I will add, is blame the folks that hire the guest workers, with or without papers, and send their money OUT of the country..
not only buy American, or (most likely) American owned, but HIRE Americans too.

[spence]

Originally Posted by Nebe

The recession is the fault of our government basically encouraging US companies to export jobs overseas to keep profits in check. Less high paying jobs in the U.S. meant less people were able to pay their mortgages and the result was the collapse of the banks that were leveraged 30 or 50 to 1...

Whose fault was it? Every person who buys products made in China is to blame. Buy American.

Nebe, you should consider politics.

Your statement makes no real sense, and isn't backed by any facts or anecdotes...but regardless will be instantly adored by the average joe six pack who still holds a full vote.

Excellent job!

-spence

[Joe]

The real estate bubble and all that came with it.

[afterhours]

Originally Posted by spence

Nebe, you should consider politics.

Your statement makes no real sense, and isn't backed by any facts or anecdotes...but regardless will be instantly adored by the average joe six pack who still holds a full vote.

Excellent job!

-spence

it was a very broad wide encompassing statement that has some truth to it, no facts or anecdots ( but i'm sure some could be presented if one has the time). we average joe six packs who are lucky that they let us vote may see some merit in his post. sat. 7:30ish- should'nt you be shoe shopping or ironing next weeks outfits

[spence]

Originally Posted by afterhours

it was a very broad wide encompassing statement that has some truth to it, no facts or anecdots ( but i'm sure some could be presented if one has the time). we average joe six packs who are lucky that they let us vote may see some merit in his post. sat. 7:30ish- should'nt you be shoe shopping or ironing next weeks outfits

Shoes? You have no idea

-spence

[CaptRandy]

Look for a date when the Glass Steagel Act was changed to let banks grow across state lines and become too big to fail. Anybody remember Ronnie?

[scottw]

Originally Posted by CaptRandy

Look for a date when the Glass Steagel Act was changed to let banks grow across state lines and become too big to fail. Anybody remember Ronnie?

not sure which Ronnie you are referring to but Bill Clinton enthusiastically signed the repeal and Robert Rubin was the architect....

Nov 12-1999, President Clinton stated, " Glass- Stegal (FDR Banking Bill) is no longer appropriate for our economy. This was good for the industrial age. The (1999) Financial Modernization Bill is the key to rising paycheck and great security for ordinary Americans".