Bob
SoWal Insider
they're just copying your heritage
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Apocalypse Now
- Thread starter Capricious
- Start date
30ashopper
SoWal Insider
We are not responsible for our own futures? I'm confused, if I'm not responsible for my own well being and financial future, who is?
Miss Critter
Beach Fanatic
I can't speak for chickpea, of course, but I would guess she was referring to all those folks who DID do the right thing. Bought a home they could afford, put the maximum into their 401K, saved for their kids' college, only to see their investments tank and lose their homes due to layoffs. Or senior citizens whose nest eggs are a fraction of what they were a few months ago, all while the cost of food, meds and everything else goes through the roof. Not everyone who was/is negatively impacted by these economic times falls into the category of greedy investor/wall street types. Many ethical, steady, regular folks are suffering a great deal due to factors beyond their control.
GoodWitch58
Beach Fanatic
...and, I think if we all showed a bit more empathy and a lot less self-centeredness, then the world would be a more peaceful place for all of us.
"Walk a mile in another's shoes....."
"Walk a mile in another's shoes....."
30ashopper
SoWal Insider
So far we've bailed out the investment firms, the banks, the insurance companies, the middle class, and soon we'll be bailing out the auto makers (again) and the middle class (again). I don't think bailouts solve problems, they exacerbate them. People need to learn from their mistakes. That sounds cruel, but really it's the most benevolent thing to do.
Miss Critter
Beach Fanatic
scooterbug44
SoWal Expert
The bailouts, stimulus checks, etc. are really just dragging out the inevitable and punishing companies and people who are fiscally responsible.
I really don't see how loaning billions to or the government buying stock in auto companies who have been operating at a loss for years solves anything beyond keeping people out of unemployment lines for a year or 2.
The economy needs a big ol' dose o' Darwinism and common sense. IMO we'll recover a lot faster once we get all the worthless junk out of the system and stop enabling these companies further.
I really don't see how loaning billions to or the government buying stock in auto companies who have been operating at a loss for years solves anything beyond keeping people out of unemployment lines for a year or 2.
The economy needs a big ol' dose o' Darwinism and common sense. IMO we'll recover a lot faster once we get all the worthless junk out of the system and stop enabling these companies further.
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Capricious
Beach Fanatic
Interesting day today
Capricious
(Who can't play in the waves at the beach, but is playing
in the waves in the "markets")
"The Wall Street crash doesn't mean that there will be any general or serious business depression... For six years American business has been diverting a substantial part of its attention, its energies and its resources on the speculative game... Now that irrelevant, alien and hazardous adventure is over. Business has come home again, back to its job, providentially unscathed, sound in wind and limb, financially stronger than ever before."
- Business Week, November 2, 1929
Capricious
(Who can't play in the waves at the beach, but is playing
in the waves in the "markets")
"The Wall Street crash doesn't mean that there will be any general or serious business depression... For six years American business has been diverting a substantial part of its attention, its energies and its resources on the speculative game... Now that irrelevant, alien and hazardous adventure is over. Business has come home again, back to its job, providentially unscathed, sound in wind and limb, financially stronger than ever before."
- Business Week, November 2, 1929