wrote in message
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On Feb 11, 11:48 am, "Calif Bill" wrote:
wrote in message

...
On Feb 11, 3:55 am, thunder wrote:

On Tue, 10 Feb 2009 16:52:19 -0500, Eisboch wrote:
It is a very serious aberration. If we can survive the ramifications
and correct the loopholes that allowed them, we will be ok.

Oh we'll be OK. One thing I have learned about this country, it is
incredibly resilient.

It's not time to over-react or allow those with a different agenda to
control our destiny.

We need to take our lumps, fix the problem and get on with it.

Yeah but, that's a tough sell to the 1/2 million people who lost their
jobs last month. Their lumps are considerably bigger than our lumps.

Yeah, I don't think we can afford to just sit around and do NOTHING.

Nothing is better than the wrong thing.

But what if nothing IS the wrong thing?

It may be a less costly wrong thing. This recession could be worse than the
1973 one, but it may be the cause of hyperinflation and total meltdown of
the economic system if the government throws trillions and trillions of
dollars out there by printing money and not targeting real root causes.

Calif Bill wrote:
wrote in message
...
On Feb 11, 11:48 am, "Calif Bill" wrote:
wrote in message

...
On Feb 11, 3:55 am, thunder wrote:

On Tue, 10 Feb 2009 16:52:19 -0500, Eisboch wrote:
It is a very serious aberration. If we can survive the ramifications
and correct the loopholes that allowed them, we will be ok.
Oh we'll be OK. One thing I have learned about this country, it is
incredibly resilient.
It's not time to over-react or allow those with a different agenda to
control our destiny.
We need to take our lumps, fix the problem and get on with it.
Yeah but, that's a tough sell to the 1/2 million people who lost their
jobs last month. Their lumps are considerably bigger than our lumps.
Yeah, I don't think we can afford to just sit around and do NOTHING.

Nothing is better than the wrong thing.

But what if nothing IS the wrong thing?

It may be a less costly wrong thing. This recession could be worse than the
1973 one, but it may be the cause of hyperinflation and total meltdown of
the economic system if the government throws trillions and trillions of
dollars out there by printing money and not targeting real root causes.




How would you suggest "the government" target the real root cause, which
is unbridled greed on the part of the very wealthy?

"HK" wrote in message
news
Calif Bill wrote:
wrote in message
...
On Feb 11, 11:48 am, "Calif Bill" wrote:
wrote in message

...
On Feb 11, 3:55 am, thunder wrote:

On Tue, 10 Feb 2009 16:52:19 -0500, Eisboch wrote:
It is a very serious aberration. If we can survive the ramifications
and correct the loopholes that allowed them, we will be ok.
Oh we'll be OK. One thing I have learned about this country, it is
incredibly resilient.
It's not time to over-react or allow those with a different agenda to
control our destiny.
We need to take our lumps, fix the problem and get on with it.
Yeah but, that's a tough sell to the 1/2 million people who lost their
jobs last month. Their lumps are considerably bigger than our lumps.
Yeah, I don't think we can afford to just sit around and do NOTHING.

Nothing is better than the wrong thing.

But what if nothing IS the wrong thing?

It may be a less costly wrong thing. This recession could be worse than
the 1973 one, but it may be the cause of hyperinflation and total
meltdown of the economic system if the government throws trillions and
trillions of dollars out there by printing money and not targeting real
root causes.


How would you suggest "the government" target the real root cause, which
is unbridled greed on the part of the very wealthy?

The real root cause is people living beyond their means. Living on credit.
Easy credit is no easy in the end. The government has encouraged the credit
life. Last stimulus was give out $300 a person and people were supposed to
spend the money. They didn't as much as the guv wanted. Savings rate
jumped top 4.5% when checks came out. The government ecouraging zero down
home loans, low income loans.

"Calif Bill" wrote in message
news

"HK" wrote in message
news
Calif Bill wrote:
wrote in message
...
On Feb 11, 11:48 am, "Calif Bill" wrote:
wrote in message

...
On Feb 11, 3:55 am, thunder wrote:

On Tue, 10 Feb 2009 16:52:19 -0500, Eisboch wrote:
It is a very serious aberration. If we can survive the ramifications
and correct the loopholes that allowed them, we will be ok.
Oh we'll be OK. One thing I have learned about this country, it is
incredibly resilient.
It's not time to over-react or allow those with a different agenda to
control our destiny.
We need to take our lumps, fix the problem and get on with it.
Yeah but, that's a tough sell to the 1/2 million people who lost their
jobs last month. Their lumps are considerably bigger than our lumps.
Yeah, I don't think we can afford to just sit around and do NOTHING.

Nothing is better than the wrong thing.

But what if nothing IS the wrong thing?

It may be a less costly wrong thing. This recession could be worse than
the 1973 one, but it may be the cause of hyperinflation and total
meltdown of the economic system if the government throws trillions and
trillions of dollars out there by printing money and not targeting real
root causes.


How would you suggest "the government" target the real root cause, which
is unbridled greed on the part of the very wealthy?

The real root cause is people living beyond their means. Living on
credit. Easy credit is no easy in the end. The government has encouraged
the credit life. Last stimulus was give out $300 a person and people were
supposed to spend the money. They didn't as much as the guv wanted.
Savings rate jumped top 4.5% when checks came out. The government
ecouraging zero down home loans, low income loans.


You just nailed it. Easy credit is what has done us in and it started in
the 90's.
Harry loves to blame everything on the greed of the wealthy. Greed is a
human trait, shared by all economic stations. Once the lesson that you
don't get something for nothing is re-learned, we will be well on our way to
an economic recovery.

Eisboch

"Eisboch" wrote in message
...

"Calif Bill" wrote in message
news

"HK" wrote in message
news
Calif Bill wrote:
wrote in message
...
On Feb 11, 11:48 am, "Calif Bill" wrote:
wrote in message

...
On Feb 11, 3:55 am, thunder wrote:

On Tue, 10 Feb 2009 16:52:19 -0500, Eisboch wrote:
It is a very serious aberration. If we can survive the ramifications
and correct the loopholes that allowed them, we will be ok.
Oh we'll be OK. One thing I have learned about this country, it is
incredibly resilient.
It's not time to over-react or allow those with a different agenda
to
control our destiny.
We need to take our lumps, fix the problem and get on with it.
Yeah but, that's a tough sell to the 1/2 million people who lost
their
jobs last month. Their lumps are considerably bigger than our lumps.
Yeah, I don't think we can afford to just sit around and do NOTHING.

Nothing is better than the wrong thing.

But what if nothing IS the wrong thing?

It may be a less costly wrong thing. This recession could be worse
than the 1973 one, but it may be the cause of hyperinflation and total
meltdown of the economic system if the government throws trillions and
trillions of dollars out there by printing money and not targeting real
root causes.


How would you suggest "the government" target the real root cause, which
is unbridled greed on the part of the very wealthy?

The real root cause is people living beyond their means. Living on
credit. Easy credit is no easy in the end. The government has encouraged
the credit life. Last stimulus was give out $300 a person and people
were supposed to spend the money. They didn't as much as the guv wanted.
Savings rate jumped top 4.5% when checks came out. The government
ecouraging zero down home loans, low income loans.


You just nailed it. Easy credit is what has done us in and it started in
the 90's.
Harry loves to blame everything on the greed of the wealthy. Greed is a
human trait, shared by all economic stations. Once the lesson that you
don't get something for nothing is re-learned, we will be well on our way
to an economic recovery.

Eisboch

My buddy's son and wife (who works for a bank) live via credit cards. Pay
the minimum each month. In for a rude awakening when things tighten up.
Buddy has tried to tell them to do better, but they are like lots these
days. Live for the present. I remember a couple years ago on this
newsgroup where someone did not really care what the boat cost, but what
were the monthly payments. 10+ year loan on a $9000 bayliner was ok.

"Calif Bill" wrote in message
news


My buddy's son and wife (who works for a bank) live via credit cards. Pay
the minimum each month. In for a rude awakening when things tighten up.
Buddy has tried to tell them to do better, but they are like lots these
days. Live for the present. I remember a couple years ago on this
newsgroup where someone did not really care what the boat cost, but what
were the monthly payments. 10+ year loan on a $9000 bayliner was ok.


In their defense (although it's not an excuse) the credit industry has made
it very easy over the past couple of decades. Here's a great finger
pointing exercise. Keep hitting "next" to see the next culprit.
Interestingly, the public consumer is one of the culprits, along with 'ole
"balanced budget" Bill Clinton.

http://www.time.com/time/specials/pa...877350,00.html

Plenty of "blame" to share around.

Eisboch

On Mon, 16 Feb 2009 18:24:01 -0500, Eisboch wrote:


In their defense (although it's not an excuse) the credit industry has
made it very easy over the past couple of decades. Here's a great
finger pointing exercise. Keep hitting "next" to see the next culprit.
Interestingly, the public consumer is one of the culprits, along with
'ole "balanced budget" Bill Clinton.

http://www.time.com/time/specials/packages/
article/0,28804,1877351_1877350,00.html

Plenty of "blame" to share around.

What's scary to me, these guys are smart professionals, some of the
best. How come only a handful saw this mess coming? I'll admit not
seeing this with foresight, but with hindsight, it was an obvious house
of cards. Five years ago, Buffet called derivatives "financial weapons
of mass destruction". Of course, he could have been wrong, but not to at
least listen to someone of his weight?

And, how do you stop this type of "group think" in the future? Clearly,
some regulation is in order, but it almost seems more like a
psychological disorder than a financial disorder. It's difficult to
believe, something as stupid as this,just choked the entire world's
economy.

On Tue, 17 Feb 2009 08:22:08 -0500, HK wrote:


Hang anyone earning more than $500,000 a year in any endeavor that does
not prolong life or prevent serious illness. Limit those people to no
more than $1,000,000 a year. Confiscatory income tax rates. No deferred
income. Confiscatory tax rates on non-family-business inheritances. Over
time, you might breed out some of the greed characteristics.

Will it hurt society? You mean, more than greed has the last decade?
:?)

I used to think mandatory sterilization for all politicians might be a
could idea. In a couple of generations, we might be able to remove that
defective gene from the pool. Maybe expanding the program to include
Wall Street might work. ;-)

thunder wrote:
On Tue, 17 Feb 2009 08:22:08 -0500, HK wrote:


Hang anyone earning more than $500,000 a year in any endeavor that does
not prolong life or prevent serious illness. Limit those people to no
more than $1,000,000 a year. Confiscatory income tax rates. No deferred
income. Confiscatory tax rates on non-family-business inheritances. Over
time, you might breed out some of the greed characteristics.

Will it hurt society? You mean, more than greed has the last decade?
:?)

I used to think mandatory sterilization for all politicians might be a
could idea. In a couple of generations, we might be able to remove that
defective gene from the pool. Maybe expanding the program to include
Wall Street might work. ;-)


Well, we need to at least start up a national dialogue on the evils of
greed and the need to have a different focus for determine success in life.

Speaking of greed antidotes, I bought a coffee this morning after
running an errand, and as I was pocketing the change, I felt there was
something "odd" about the coins. Sure enough, my change from the two
dollars I handed in included a quarter and two one dollar coins. Damned
dollar coins are only a "rim" bigger than a quarter. So I swapped them
back to the cashier for two quarters, which is what she should have
given me. Don't blame her, though...lots of customers in line and no
time to look too closely. Tbhe dollar coins should have been minted much
larger than quarters.

"HK" wrote in message
...
thunder wrote:
On Tue, 17 Feb 2009 08:22:08 -0500, HK wrote:


Hang anyone earning more than $500,000 a year in any endeavor that does
not prolong life or prevent serious illness. Limit those people to no
more than $1,000,000 a year. Confiscatory income tax rates. No deferred
income. Confiscatory tax rates on non-family-business inheritances. Over
time, you might breed out some of the greed characteristics.

Will it hurt society? You mean, more than greed has the last decade? :?)

I used to think mandatory sterilization for all politicians might be a
could idea. In a couple of generations, we might be able to remove that
defective gene from the pool. Maybe expanding the program to include
Wall Street might work. ;-)


Well, we need to at least start up a national dialogue on the evils of
greed and the need to have a different focus for determine success in
life.

Speaking of greed antidotes, I bought a coffee this morning after running
an errand, and as I was pocketing the change, I felt there was something
"odd" about the coins. Sure enough, my change from the two dollars I
handed in included a quarter and two one dollar coins. Damned dollar coins
are only a "rim" bigger than a quarter. So I swapped them back to the
cashier for two quarters, which is what she should have given me. Don't
blame her, though...lots of customers in line and no time to look too
closely. Tbhe dollar coins should have been minted much larger than
quarters.


All your mint people had to do was look at our Loonie...much bigger and a
different colour from our 25 cent piece.
http://www.mint.ca/store/coin/specim...009-prod530016