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What do you think the economic crisis really is?

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What is the nature of the economic crisis?
Just a minor bump in the road, like back in the early 1990s. we can spend our way out of it. 10%  10%  [ 3 ]
A major bump in the road, kinda like the 1930s. but it will get better. we might have another world war though. 31%  31%  [ 9 ]
The collapse of the global capitalistic system. the system itself is broken. 21%  21%  [ 6 ]
Something other than those 3 things 38%  38%  [ 11 ]
Total votes : 29

TeaEarlGreyHot
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14 Mar 2012, 8:25 pm

Yes, that's exactly what I'm saying. Not only that, but we should be producing far more goods than we do right now, as we are very dependent on other countries for this. We, for the most part, consume and contribute very little.


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donnie_darko
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14 Mar 2012, 8:53 pm

AstroGeek wrote:
I think it's our comeuppance for the Reagan-Thatcher era deregulation. Not that many people are heading the warning... Oh well, I expect that by the 2040s we'll see a revitalized global left.


The 2040s? Damn I hope it's not that long before people wake up.



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14 Mar 2012, 9:05 pm

TeaEarlGreyHot wrote:
Yes, that's exactly what I'm saying. Not only that, but we should be producing far more goods than we do right now, as we are very dependent on other countries for this. We, for the most part, consume and contribute very little.


And you expect this is going to change? I think it will collapse before it changes......even if you are right we could have a non-consumerist capitalist society.


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14 Mar 2012, 9:09 pm

I think it's all been swept under the rug for so long that Capitalism can't help but trip over it.


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14 Mar 2012, 10:50 pm

donnie_darko wrote:
Do you think it's a bump in the road or the failure of the entire global capitalistic system?

The economy has been down since December 2007, which is quite a while ago. They have been claiming 'recovery' since at least 2009 but nothing has got better since then, in fact it's probably only got worse.


Hmmm....claiming 'recovery' eh? I wonder what motivation they could possible have?

:scratch:



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14 Mar 2012, 11:02 pm

The economic crisis is mostly an economic crisis


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TeaEarlGreyHot
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14 Mar 2012, 11:03 pm

Sweetleaf wrote:
TeaEarlGreyHot wrote:
Yes, that's exactly what I'm saying. Not only that, but we should be producing far more goods than we do right now, as we are very dependent on other countries for this. We, for the most part, consume and contribute very little.


And you expect this is going to change? I think it will collapse before it changes......even if you are right we could have a non-consumerist capitalist society.


The poll didn't ask if I thought it would change, just what I thought the economic crisis was all about.

It's not likely to collapse completely, if you ask me. Too many people are still focused on consumerism to stimulate the economy. Enough people have the disposable cash/pension to spend to keep it afloat... even if it ends up severely damaged. America has been the center of the global economy long enough that how we do things influences how others handle the problems created from the poor economy in their own countries.


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14 Mar 2012, 11:06 pm

TeaEarlGreyHot wrote:
Sweetleaf wrote:
TeaEarlGreyHot wrote:
Yes, that's exactly what I'm saying. Not only that, but we should be producing far more goods than we do right now, as we are very dependent on other countries for this. We, for the most part, consume and contribute very little.


And you expect this is going to change? I think it will collapse before it changes......even if you are right we could have a non-consumerist capitalist society.


The poll didn't ask if I thought it would change, just what I thought the economic crisis was all about.

It's not likely to collapse completely, if you ask me. Too many people are still focused on consumerism to stimulate the economy. Enough people have the disposable cash/pension to spend to keep it afloat... even if it ends up severely damaged. America has been the center of the global economy long enough that how we do things influences how others handle the problems created from the poor economy in their own countries.


I think it will collapse in the next five years.....but since I am not sure I still plan to find work so I can have income to live on in case that does not happen or until it does.


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14 Mar 2012, 11:19 pm

Oh it'll collapse all right, unless politicians are willing to (for once in their miserable frigging lives) to admit that they dun f****d up on a truly massive scale and fix it.

And that aint gonna happen.


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15 Mar 2012, 7:36 am

Vigilans wrote:
The economic crisis is mostly an economic crisis

Tautological statements are mostly tautological statements



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15 Mar 2012, 7:38 am

AstroGeek wrote:
I think it's our comeuppance for the Reagan-Thatcher era deregulation. Not that many people are heading the warning... Oh well, I expect that by the 2040s we'll see a revitalized global left.

Deregulation? Really? And what caused the housing bubble?



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15 Mar 2012, 7:47 am

Burzum wrote:
AstroGeek wrote:
I think it's our comeuppance for the Reagan-Thatcher era deregulation. Not that many people are heading the warning... Oh well, I expect that by the 2040s we'll see a revitalized global left.

Deregulation? Really? And what caused the housing bubble?

I'm not saying that there wasn't some stupidity on the part of government. But if you look at the places where the finance sector didn't collapse and need to be bailed out, you'll notice that the thing they have in common is that they kept the regulation of the finance sector. Canad is a good case in point.



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15 Mar 2012, 8:34 am

Hopefully it's going to be a massive wake up call. (I won't hold my breath though)

I will note that the countries who have chosen to bail out their people have done much better and gotten through this without as much pain as the countries who have decided to bail out their banks and corporations.


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15 Mar 2012, 9:50 am

donnie_darko wrote:
AstroGeek wrote:
I think it's our comeuppance for the Reagan-Thatcher era deregulation. Not that many people are heading the warning... Oh well, I expect that by the 2040s we'll see a revitalized global left.


The 2040s? Damn I hope it's not that long before people wake up.

It might be earlier. But by then I suspect that there will probably be massive inequality, even in the West, governments will basically have stopped social services for the average person (or they will be outsourced to private companies a la Third Way), and climate change will be starting to increase the price of food and the number of weather related disasters, making it even more difficult for the working class to cope. Or maybe the Bolivarians down in South America will do such a good job that the West will take notice (although I'm not that optimistic--they seem to play a bit too fast and loose with the democratic process).



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15 Mar 2012, 10:54 am

I think this guy had some excellent thoughts on it:

http://www.memoryhole.net/kyle/2008/10/ ... crash.html

It wasn't necessarily the CRA itself but rather a series of deleterious legislations subsequent and, from what it sounds like, really starting with IBBEA of 1994.


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15 Mar 2012, 11:01 am

[youtube]http://www.youtube.com/watch?v=E1KwkScA540[/youtube]