Comments on: Somebody’s Making Sense http://wemakethree.com/2008/09/29/somebodys-making-sense/ Wed, 07 Jan 2009 14:15:57 +0000 http://wordpress.org/?v=2.5.1 By: daniel http://wemakethree.com/2008/09/29/somebodys-making-sense/#comment-841 daniel Wed, 01 Oct 2008 16:11:54 +0000 http://wemakethree.com/?p=3874#comment-841 Main thing is not to do anything out of a spirit of fear. Look at the congress and reporters. They are fearful and acting as such. Rather, implore them (yes speak up) to act out of wisdom. It's not a) 700B or b) Great Depression II. There are alternatives being shared by congress people, economists and consumer advocates. Two notes: 1. If you want to know how the economy is doing, don't watch tv, go try to get a parking spot at Walmart. 2. The claims of another Great Depression are mis guided. Our economy is much more resilient and diverse than it was 79 years ago. (Really, do you think we haven't learned anything in 79 years?) Just to name a few: FDIC Insurance, service (non-cyclical) vs. manufacturing (cyclical) based economy, 1 in 100 agrarian workers per capita vs. 1 in 5 agrarian workers per capita (coupled with a drought), and better trade laws. Just don't fear! Main thing is not to do anything out of a spirit of fear. Look at the congress and reporters. They are fearful and acting as such. Rather, implore them (yes speak up) to act out of wisdom. It’s not a) 700B or b) Great Depression II. There are alternatives being shared by congress people, economists and consumer advocates.

Two notes:

1. If you want to know how the economy is doing, don’t watch tv, go try to get a parking spot at Walmart.

2. The claims of another Great Depression are mis guided. Our economy is much more resilient and diverse than it was 79 years ago. (Really, do you think we haven’t learned anything in 79 years?) Just to name a few: FDIC Insurance, service (non-cyclical) vs. manufacturing (cyclical) based economy, 1 in 100 agrarian workers per capita vs. 1 in 5 agrarian workers per capita (coupled with a drought), and better trade laws.

Just don’t fear!

]]> By: Steph http://wemakethree.com/2008/09/29/somebodys-making-sense/#comment-840 Steph Wed, 01 Oct 2008 12:00:42 +0000 http://wemakethree.com/?p=3874#comment-840 Amen, sister. You know what's funny to me? I hear, "WE NEED A BAILOUT!!" and when Congress says, "Okay. We'll talk about bailing you out", the market goes up. Things look better. When Congress says no, the market crashes, and ZOMG! We're all going to lose everything we have!! To put it into perspective, the day that Congress said no to the bailout, the market went down less than 7% compared to Black Monday when it droppes 22%. I mean, COME ON, PEOPLE. This crisis is very real, sure, but running around like Chicken Little isn't the answer. Nor is a bailout. A free market will take care of itself. Amen, sister. You know what’s funny to me? I hear, “WE NEED A BAILOUT!!” and when Congress says, “Okay. We’ll talk about bailing you out”, the market goes up. Things look better. When Congress says no, the market crashes, and ZOMG! We’re all going to lose everything we have!!

To put it into perspective, the day that Congress said no to the bailout, the market went down less than 7% compared to Black Monday when it droppes 22%. I mean, COME ON, PEOPLE. This crisis is very real, sure, but running around like Chicken Little isn’t the answer. Nor is a bailout.

A free market will take care of itself.

]]> By: kathleen http://wemakethree.com/2008/09/29/somebodys-making-sense/#comment-839 kathleen Wed, 01 Oct 2008 02:02:22 +0000 http://wemakethree.com/?p=3874#comment-839 Thanks for finding the Lewis article Myra and for bringing some sane thoughts to the table. Thanks for finding the Lewis article Myra and for bringing some sane thoughts to the table.

]]> By: Myra http://wemakethree.com/2008/09/29/somebodys-making-sense/#comment-838 Myra Wed, 01 Oct 2008 01:58:02 +0000 http://wemakethree.com/?p=3874#comment-838 Girl Next Door: It sounds as though you believe that our currency could melt down without government intervention. The chart of the dollar has been sick, it's true, but I don't believe it's going to disintegrate. In fact, it's been slowly getting stronger. You my friend, have been one of the accountable people. And I have to believe you will be rewarded for your integrity. That is what our country was founded on. I'm in the same boat as you. And like you, I'm scared as heck. But I would rather face the pain now to preserve capitalism and avoid socialism. Girl Next Door: It sounds as though you believe that our currency could melt down without government intervention. The chart of the dollar has been sick, it’s true, but I don’t believe it’s going to disintegrate. In fact, it’s been slowly getting stronger.

You my friend, have been one of the accountable people. And I have to believe you will be rewarded for your integrity. That is what our country was founded on. I’m in the same boat as you. And like you, I’m scared as heck. But I would rather face the pain now to preserve capitalism and avoid socialism.

]]> By: The Girl Next Door http://wemakethree.com/2008/09/29/somebodys-making-sense/#comment-837 The Girl Next Door Tue, 30 Sep 2008 15:00:58 +0000 http://wemakethree.com/?p=3874#comment-837 The problem with no buyout is that if we don't, the 1930's are going to look like party time. Congress needs to step in and stop it - without rewarding those who made it happen (which is lots and lots of people). But if they don't, we're all going to lose a whole lot - hell maybe everything. my only debt is my mortgage and my student loan. That's it. I own my cars. no credit card debt. I have restarted my 401K (after letting Ex take it all in exchange for the house). I had (HAD - I'm afraid to look now) 15 years of savings in college plans for the kids that was, sadly, probably only enough for 2 years of college. Maybe now we're down to 1? It will all get wiped out or greatly diminished if Congress doesn't do something. Yes, the country screwed up. So should we stand back and let the hurt take over? That worries me more.... The problem with no buyout is that if we don’t, the 1930’s are going to look like party time. Congress needs to step in and stop it - without rewarding those who made it happen (which is lots and lots of people). But if they don’t, we’re all going to lose a whole lot - hell maybe everything. my only debt is my mortgage and my student loan. That’s it. I own my cars. no credit card debt. I have restarted my 401K (after letting Ex take it all in exchange for the house). I had (HAD - I’m afraid to look now) 15 years of savings in college plans for the kids that was, sadly, probably only enough for 2 years of college. Maybe now we’re down to 1? It will all get wiped out or greatly diminished if Congress doesn’t do something. Yes, the country screwed up. So should we stand back and let the hurt take over? That worries me more….

]]> By: sauerkraut http://wemakethree.com/2008/09/29/somebodys-making-sense/#comment-836 sauerkraut Tue, 30 Sep 2008 14:35:36 +0000 http://wemakethree.com/?p=3874#comment-836 I blame, in no real particular order: 1) loan originators 2) loan grantors 3) Phil Gramm 4) w 5) Nancy Pelosi 6) McCain 7) Paulson 8) investment banks 9) securities re-sellers 10) rating agencies I blame, in no real particular order:

1) loan originators

2) loan grantors

3) Phil Gramm

4) w

5) Nancy Pelosi

6) McCain

7) Paulson

8) investment banks

9) securities re-sellers

10) rating agencies

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