What If there aren't any answers?

what is everyone speculating today about the economy is no better than the ones who got us where we are today? Maybe there are no good answers ....that we just have to wait and see what happens?

Perhaps this economy is totally new ground--that's just beginning to shift? Aren't things moving too fast to compare it to past recessions? So much at once?

Edited: 06/26/2010 at 07:06AM

Jeff Tumbarello

Real Estate Investor · Fort Myers, Florida

949 posts
6 awards
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Jan 29 '09, 09:11 AM

this is 1987 on Steriods

I say break it, let it all fall. The show would be grand

Edited: 06/26/2010 at 07:06AM

Brandon C

· Bethlehem, PA

16 posts
1 award
50 influence

Jan 29 '09, 02:12 PM

I would love to see that! Unfortunatly society is to dependent and babied on credit for it to happen. I don't think (as much as i would like it to) that the government would ever let the standuard of living fall like it did in the 30's. Hell the government wont even let people fall on their ass in times of economic prosperity. All they do is tell them "falling is bad, if you ever fall you will probably die and won't ever be able to get yourself up, you need us"

Edited: 06/26/2010 at 07:06AM

Michael Rossi

Real Estate Investor · Ohio

4,587 posts
14 awards
56 influence

Jan 29 '09, 03:34 PM

what is everyone speculating today about the economy is no better than the ones who got us where we are today? Maybe there are no good answers ....that we just have to wait and see what happens?

There are certainly answers that would work, but they involve pain - something the weak and whiney American public is not willing to accept. The answer is to become financially responsible. Stop spending money we don't have (both personally and as a nation). Allow individuals and companies who have acted irresponsibly to fail. Cut out entitlements to the lazy. Allow the free market to work.

This is not a new economy. That's what they say everytime there is a boom or bust - EVERY TIME. I remember during the dot-com boom how the experts were saying that dot-com stocks with astronomical PE ratios were justified as we were in a new economy. As it turned out, companies still needed to make money in that "new economy" and the dot-com boom exploded before our eyes. Ditto the real estate boom. How many "experts" did you hear say that real estate prices would keep going up because things were different this time?

The reality is that things aren't any different now than they were in the 1700's. We've built an economy based with money that was created out of thin air. It's a giant ponzi scheme that WILL come crashing down!

Mike

Edited: 06/26/2010 at 07:06AM by Michael Rossi

NC Mark

Real Estate Investor · North Carolina

1,086 posts
8 awards
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Jan 29 '09, 05:13 PM

I'm worried about how long it will take to put us out of our misery.

Since the government is elected and supported by the vast voting power of the lazy, the disenfranchised and the entitled, we may be in for an extended period while the government tries new fixes and various bandaids before realizing we're way past the tourniquet stage.

Bleeding out will not be fun and will probably occur in ways different from the past, except in the pain.

And the end result will either be a new and truly great government and society, or something very, very bad.

Edited: 06/26/2010 at 07:06AM

Don Levy

Real Estate Consultant · Orcutt, California

111 posts
1 award
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Jan 30 '09, 10:42 AM

Mike you should be an economist for the government with the power to do the things you suggest. I usually have to stick my 2 cents in to any reply I make but I believe you've already expressed my thoughts. Way to go!
Good luck,
donrock

Edited: 06/26/2010 at 07:07AM

Michael Rossi

Real Estate Investor · Ohio

4,587 posts
14 awards
56 influence

Jan 30 '09, 04:21 PM

I'm worried about how long it will take to put us out of our misery.

I agree! It could take many years for us to bleed to death and this economy to collapse. The government is currently throwing everything they have at this "crisis" and they will keep doing so until the people lose faith in our currency; our nation; and our socialist government. For that to happen, the government will need to start defaulting on it's promises to all those that feel entitled to receive government handouts.

Mike you should be an economist for the government with the power to do the things you suggest.

Don, unfortunately I don't have the qualifications to be in Washington. I am honest and I pay my taxes. Hardly qualifications to join the scumbags in Washington that are stealing our future a trillion dollars at a pop!

Mike

Edited: 06/26/2010 at 07:07AM