New Strategy for Obama: Blame Bush

B_Marius567

Sexy Member
Joined
May 30, 2004
Posts
1,913
Media
0
Likes
30
Points
258
Sexuality
100% Straight, 0% Gay
Gender
Male
what financial crisis?

My 401k is doing just fine, all my credit card cards are paid off and making lots of money so every thing is just fine.


I never liked bush and I never voted for him.
 

B_VinylBoy

Sexy Member
Joined
Nov 30, 2007
Posts
10,363
Media
0
Likes
68
Points
123
Location
Boston, MA / New York, NY
Sexuality
90% Gay, 10% Straight
Gender
Male
what financial crisis?

My 401k is doing just fine, all my credit card cards are paid off and making lots of money so every thing is just fine.

Obviously, you want the rest of America to base their social & financial struggles off of your 401K. Either that, or you have a series of self help books out there to teach everyone who is still trying to make ends meet how to live as lavishly as you. Is this the case, or are you severely downplaying the reality of the situation just because you were one of the lucky ones?

I never liked bush and I never voted for him.

That doesn't excuse you from your flame baited rant.
 

B_RedDude

Sexy Member
Joined
Jun 30, 2007
Posts
1,929
Media
0
Likes
87
Points
183
Location
California
Sexuality
99% Gay, 1% Straight
Gender
Male
That's the thing. Some people are doing just fine.

Even in the Great Depression, 75% of workers still had jobs.

what financial crisis?

My 401k is doing just fine, all my credit card cards are paid off and making lots of money so every thing is just fine.


I never liked bush and I never voted for him.
 
Last edited:

bananaclubcock

Experimental Member
Joined
Feb 4, 2010
Posts
191
Media
2
Likes
22
Points
53
Location
Eastern U.S.
Sexuality
99% Straight, 1% Gay
Gender
Male
That's the thing. Some people are doing just fine.

Even in the Great Depression, 75% of workers still had jobs.

I am not sure I'd call that "just fine". People need to realize that everything is precarious: this kind of tinderbox starts wars and collapses governments.

And if you really want to put the just fine into a more business/finance perspective, ask why almost no one is investing in new projects even though real interest rates are negative. That is to say money can't be given away to create productive enterprises.

Anyone who is denies that there is a financial crisis is either clueless or a troll.
 

B_RedDude

Sexy Member
Joined
Jun 30, 2007
Posts
1,929
Media
0
Likes
87
Points
183
Location
California
Sexuality
99% Gay, 1% Straight
Gender
Male
I wasn't denying that there is a crisis at all. Just that some people's experience of it will differ based on their personal circumstances.

People are afraid to take new risks. They're skittish about what happened.

And regardless of interest rates, is it really true that financial institutions are making loans/capital available at something approaching normal levels? My impression is that they're skittish as well. If this is not still true, when did the dough actually start being available again?

Anyone who is denies that there is a financial crisis is either clueless or a troll.
 

bananaclubcock

Experimental Member
Joined
Feb 4, 2010
Posts
191
Media
2
Likes
22
Points
53
Location
Eastern U.S.
Sexuality
99% Straight, 1% Gay
Gender
Male
I wasn't denying that there is a crisis at all. Just that some people's experience of it will differ based on their personal circumstances.

People are afraid to take new risks. They're skittish about what happened.

And regardless of interest rates, is it really true that financial institutions are making loans/capital available at something approaching normal levels? My impression is that they're skittish as well. If this is not still true, when did the dough actually start being available again?

Sorry, I wasn't calling you clueless or a troll, I was referring to the OP who said he had no credit card debt and therefore there was no financial crisis. He should care about not only himself, but his customers and his suppliers and everyones' financiers.

Yes, you are correct that most financial institutions are disasters. They are in the process of recapitalizing, meaning they are slowly collecting the spread between their lending and borrowing rates to rebuild their capital. The main point about interest rates is that if businesses, including banks, were healthy the low interest rates would cause money to flood into new investment, which is very clearly not happening. The whole point of fiscal stimulus is that virtually the only investment projects worth taking on in the midst of this kind of crisis are public sector ones. The long term impact of say, weaning ourselves off of over-consumption of petroleum, is a big boon to the national economy and would keep the economy at close to full employment.

Anyway, if you are really into this stuff there was a pretty good story about the businesses and their preferences re: investment. It was in The Business Insider and since this is a site where guys and gals talk about dicks, I keep saying the name of that site while channeling my inner Beavis and Butthead.