General Question

ubersiren's avatar

Are you genuinely cheesed off about the economy and how it's being handled?

Asked by ubersiren (15208points) March 20th, 2009

Do you fully understand what happened and what is being done and not being done about it by our government? It seems to me that this issue is on the very bottom of the general public’s list of concerns. I’m angered beyond sanity and very disappointed in how the government is “handling” it.

What do you think?

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39 Answers

Blondesjon's avatar

If you waited until now to get cheesed off at the way our government handles anything I have some some magic beans I’d like to trade you for that fine cow of yours.

anyone remember all those young men and women over in iraq right now?

Darwin's avatar

I’ve been genuinely cheesed off for a long time about huge bonuses for looking good on a stockholder report, as well as on how the government handles a lot of things. So what else is new?

marinelife's avatar

I do not think it is at the bottom of people’s concerns. Everywhere I go, people are talking about it.

Am I angry? Yes. I am angry at deregulation that allowed junk financial instruments. I am angry that CitiGroup executives have authorized a $10 million facelift for the executive floor. I am upset that President Obama is listening to financial industry insiders too much and not taking harsh enough steps. I am angry we are propping up failed firms with failed products instead of closing them down.

ubersiren's avatar

@Blondesjon : Oh, I’ve been angry for some time. There was no waiting.

blondie411's avatar

I think mostly people are concerned about themselves even though everyone knows it won’t take magic to fix overnight. The whole situation frustrates me to be honest

SeventhSense's avatar

Dire future. The question is what are they going to propose next. At best industries and values may be completely revamped and a new praxis will emerge when it’s clear that things aren’t going to improve with the same old way of doing business.
At worst we will become completely entrenched in an outddated mode of commerce which will enslave us to the elite’s agenda. If that occurs, the people will speak with violence when starvation and poverty grow. Riots will increase. Countries will go to war over resources. We may create a more domestic manufacturing base again that will serve the national populace, which wouldn’t necessarily be a bad thing.
Neonationalism will rear its ugly head.
Good times

Blondesjon's avatar

@SeventhSense…So you mean it will be business as usual then?

ibadt's avatar

What ticks me off is that they keep saying they need to give this money away so people are able to get credit to buy things again. Shouldn’t they be encouraging people to get out of debt and stop spending beyond their means.

ubersiren's avatar

@ibadt : That would be an excellent start. But “they” themselves know nothing of getting out of debt.

Investing money would be wiser… we don’t need to “spend” money on more “stuff.” We have enough stuff!

Here’s a good (long) article if anyone is interested

And a video

SeventhSense's avatar

Seriously, I think worse. I think rioting might spread to developed countries as well. I’m not trying to be sensationalist but when they talk of a pattern that is identical to the Great Depression but on a larger scale. It’s hard to think positive unless there’s a shift in thinking or a quantum leap in economics.

Blondesjon's avatar

@SeventhSense…It’s nothing new. The first talking head to suggest the poor eat cake will be the first rolling head. Riots? We watch those on tv with a bowl of popcorn. I’m can’t wait to see what this go-around’s “dust bowl” will be. maybe all of the bees dying off

mij's avatar

I think I’m more pissed of here in Australia when after a week of positive moves on our economy the IMF comes out and say’s were all doomed.
I like some good news about things, it gives a us a wee bit of hope.
I just feel sorry people are losing jobs, homes and whatever? Ok we went through a few years where greed became the norm…
I’m lucky I can still get by and my family are all ok so far, let’s just get some positive stuff happening and I think we can all pull through together.
I think Obama is starting to steady the ship, just needs to keelhaul a few of the old crew that ran it onto the reef!
smile, your day can only get better…

Zaku's avatar

Seems like there were these incredibly wealthy banks and real estate corporations which had amazingly cushy business positions charging interest and fees on mortgages and credit card debts, and they got more and more crazy enticing people who wanted homes into credit deals they couldn’t really afford, to make as much money as possible, to the point where it blew up in their faces when it turns out many people couldn’t afford all the loans they had extended, and these huge greedy corporations themselves suddenly found they had overextended themselves so far that they couldn’t swap money around fast enough to keep their agreements. So, the companies that so righteously had been punishing people who overextended themselves and failed to pay bills on time, threatening them with foreclosures and bullying collection agencies, found themselves in a very similar situation, but on an enormous scale. And the solution politicians and economists seem to be trying, is taking enormous amounts of money from taxpayers to bail out these mega-greedy businesses. Not exactly fair, it seems to me. And overall, I think the previous systems of credit and real estate business and interest charges and fees in general was exploitative and causing a lot of suffering and should be massively reformed, and that the companies that had been exploiting it should not be bailed out by the people.

I think it’s time for the “quantum leap in economics” SeventhSense suggested.

Blondesjon's avatar

@tinyfaeryyou are funny. i really did vocalize my joviality

ubersiren's avatar

@tinyfaery : Hahaha, yes, cheesed. Thanks for the lightening up.

Garebo's avatar

I hate to say it, but we have just begun our way down one nasty roller coaster. I think the next turn is going to be hyper inflation, so start your gardens, and buy silver and gold.
I think this was caused by 25 years of corruption, fraud and human greed, by the banks, government and politicians. Now we will have 25 years of fascism, in the purest sense of the word.
The banks bought the politicians, and the politicians controlled the government until the ponzi scheme came unglued. We know have a derivatives death star imploding around the world.

SeventhSense's avatar

I’ve been waiting for years for gold to go through the roof and it probably will now because I’ve got none left.:)

Garebo's avatar

That is another question. Where is the best place to buy it, because it looks like I’ll be taking my retirement money prematurely and when I do I want to buy gold coin, but I want to pay the least premium.

SeventhSense's avatar

Look at the rate we’re going the government will seize it all. They stopped making it at the mint for a while. I don’t know what the current situation is. It’s going to be like contraband soon… I’m going to start my own country.

Kevisaurus's avatar

South Park already covered Cheesing, it sounds fairly lucrative.

Nickeye05's avatar

It’s a bit late to be mad now. I think things could be handled better, but honestly the people are too lazy to do anything about the fat cats running things the way they want. If they REALLY wanted to slow the shit slide they should have stopped the forclosures when they started to happen and should have put a large fine on factories moving out of country and taxes on all imports from those countries. There you go I solved your economic problems. The American dream is to suck the life out of the little people so you can become a big rich person. isn’t it??

walterallenhaxton's avatar

Yes I am. I hate seeing big bullies going around trashing everybody’s property.

walterallenhaxton's avatar

@Nickeye05 So you think that the government bullying more people would have made things better. Can you give a mechanism for that process?

walterallenhaxton's avatar

@Garebo Don’t buy gold coin then. For a piece of gold to be valuable it needs the weight, the purity and a particular measurable size. I checked for you and I found a great new product.

walterallenhaxton's avatar

@Garebo It started this time around in 1913. We have had the hyper inflation before and will keep having it as long as we keep letting a few men corner the currency markets.

walterallenhaxton's avatar

@mij You can change the crew of a pirate ship. You will still have a pirate ship after you are done.

walterallenhaxton's avatar

@Blondesjon I think we will call it the corn bowl.

walterallenhaxton's avatar

@Darwin The bank of America and others are working on new pay raises. I am glad I don’t own them.

hibiscus's avatar

I think we need a radical overhaul of the whole economic system, right down to the bare bones so to speak. It certainly isn’t working the way it is currently, it just keeps getting worse. No quick fix is going to really resolve the problem. The economy needs to be based on tangible commodities and assets, like food harvested or natural resources. Stop basing our whole economic system on credit, betting on intangibles, or letting companies get so big that they jeopardize the whole economy if they fall. We are being held for ransom by companies that purposefully grow to such gargantuan proportions that we have no choice but to bail them out. And they know it!

SeventhSense's avatar

^Good Points^

walterallenhaxton's avatar

@hibiscus I have no intention in trying to bail anyone out. I tried to bail my Puppy out of the pond last week when he was on a wild goose chase. He never did catch on. Two hours later when all of the babies were gone he bailed himself out.
The death of a business is not the same as the death of a person. If the business is no longer making money it should shut down. No value is lost when it does so. Some people might be surprised at it’s worth but the values remain and it is sold to people who are better at using such resources. The proof is that they have the money from using other resources to buy those with. Sure, they can fail but that is somewhere in the future. For the old company it is in the past.

To big to fail is not a part of the real world. Just the political one.

SeventhSense's avatar

If the business is no longer making money it should shut down.
I think this is essentialy what @hibiscus is saying. Most of us had no intent of bailing out these banking interests but that is essentially what we were just forced to do last fall/winter. No one asked our opinions though. They just spent our children’s money.

walterallenhaxton's avatar

@SeventhSense Force in economics means that somebody is stealing and somebody is receiving stolen property. You can have all of the legislatures and courts in the world say that stealing is not a crime but that does not make it true.
They also spent many peoples retirements. I think that is a custom that its going to go away. More people will choose to wait until they are disabled before they quit working.

SeventhSense's avatar

Yes it was out and out theft on the taxpayer by our representatives.

CMaz's avatar

I am more like “honked off”.

walterallenhaxton's avatar

When politics and economics are allowed to mix you always get a mixture of politics and business. A big mess.

Darbio16's avatar

Here in America we are enjoying all that Fascism has to offer. The Federal Reserve should be abolished and we should give the boot to everyone on the Senate Banking Committee.

Tenpinmaster's avatar

I am sorry but I don’t think anybody has a clue on what to do about the free falling economy and they think throwing trillions of dollars at it will fix the problem. First of all, we are borrowing money at an UNPRECEDENTED rate from foreign nations. This is causing a massive deflation of our own currency and crippling our economy rating across the world. What can we do? I know.. Print more money.. Ask mexico about that, and other countries who’s currency is no better then monopoly money. The economy lies in the people. The people need real confidence to take risks, and the banks need to unlock money for people to be innovative again and to trust in the free enterprise system.

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