Monday, March 17, 2008


The recession has been growing for a while. Many have been predicting that the stock market will fall for a while. There is a lot of play money in our society with credit card debt and the mortgage crisis and all that will catch up to us and especially banks. When do you think it will be? Does today's collapse of Bear Stearns mark the start of the stock market falling? Will there be loss all over the market like there was when Enron was collapsing? Predictions?


Bello Velo said...

The war is suppose to cost 1 trillion dollars and bush and company have put that on a credit card. We are all going to have to pay for this while they get to leave office.

Maybe americans need to find out how to live with less a lot less. It is hard to predict because they can just print more money. So they can put it off for a while but eventually we will experience a recession and possibly a depression.

Maybe the outcome of all of this is we finally figure out that the war economy does not work.

It is a choice a society built on death and destruction or change.

clintpatty said...

McCain likes to talk about returning to a Reagan economy, but he doesn't have much in the way to actually do that. Weapons overall were cheaper then, and we weren't using them much. There is also all the money spent on homeland security/other national defense that is bullshit.

I guess the soaring market today after good earnings reports and a fed announcement indicate that it was not the start of the stock market going down yet. If we default on our loans to rich Chinese or if the fed makes enough bad decisions and totally devalues the dollar like you mentioned, we'll be pretty much guaranteeing a war with China in addition to whatever the Middle East turns into.

Bello Velo said...

Reagan Economy? You mean flooding the country with drugs, creating a crack epidemic to fund secret wars like Iran/ Contra? Trickle down economics ? While a record number of people lived in poverty 33 million? I guess it didn't trickle down to them.

McCain can not even stand up to George Bush how do you expect anything out of him. He was against torture but signed the bill. He is George's lap dog.

As far as war with china I have not even considered that one.

I some times wonder if things need to get much worse before we wake up. All real revolutions were fought on empty stomachs ( hunger) we are way too fat here and can always afford a 99 cent happy meal.

I hope that one day we can become part of the world not try to run it and also not run away from it.

clintpatty said...

neocons love to hear about the Reagan economy regardless of the bad things about it

and ++ on the last sentence

Bello Velo said...

Well the Reagan Economy is actually from Milton Freidman who called himself a "neoliberal" Margaret Thatcher and Reagan were disciples of his. Freidman also tested his theories in South America in the 70's and was an advisor to Pinochet in Chile.

This is where we are today with his "free markets" and they have seem to have run amok. School Vouchers, privatizing Social Security, Public Schools for profit prisons and "The Ownership Society" were all done in Chile back in the 70's and now are being implemented here by King George.