America's Financial Crisis

[ZORAVAR]

Re: Bush administration: financial crisis

We need to relearn the joys of living simply and naturally.

So true. Humans have the inborn skill to complicate their own lives. Fortunately, they also have the survival instinct and the ability to go back to basics.

[Armenian]

Re: Bush administration: financial crisis

That's all well and good, but you can't raise a family in the woods.

Humanity managed to do just that for thousands of years. Your real question should have been - how can you get yourself to part with the varied pleasures of city life? And that is where things get subjective for some prefer city lifestyles while others prefer the country. As for me, I prefer a country lifestyle but I see myself stuck in the city. However, cultures with strong agrarian lifestyles will thrive in hard times. We need to relearn the joys of living simply and naturally.

[crusader1492]

Re: Bush administration: financial crisis

That's all well and good, but you can't raise a family in the woods.

[jgk3]

Re: Bush administration: financial crisis

On a personal level, I bumming out about this mess...all the wealth you and you family worked so hard for has a great potential to vanish in a blink of an eye.

I'm still young and didn't have enough years yet to get attached to the idea that my wealth and financial ambitions are standing on some legitimate decree of value. For my parents, that's another story.

But I see what all this is leading to for those who wish to lead a city life... More red tape and surveillance. More waiting in lines instead of being a go-getter. Since previous recessions and depressions, the reality that we live in a surveillance state has only been enhanced. Although I don't really mind it so much because I'm not on a blacklist or anything, I do feel the difference (of not being watched) when I am in the outskirts of the city, or in the woods and tend to appreciate it quite a bit.

[yerazhishda]

Re: America's Financial Crisis

How's this for keeping on track?

*****************************

Washington Mutual is seized to avert failure
By Eric Dash and Andrew Ross Sorkin

Washington Mutual, the giant lender that came to symbolize the excesses of the mortgage boom, was seized by federal regulators on Thursday night in what is by far the largest bank failure in American history.
Regulators simultaneously brokered an emergency sale of virtually all of Washington Mutual to J.P. Morgan Chase. The remainder of WaMu, the nation's largest savings and loan, will be operated by the government. Shareholders and some bondholders will be wiped out. WaMu depositors are guaranteed by the Federal Deposit Insurance Corp. up to the $100,000 per account limit. WaMu customers are unlikely to be affected.
Howard Headlee, Utah Banker's Association president, said Thursday night the purchase of Washington Mutual bank by JPMorgan Chase should have no ill effect on Utahns.
"Chase is a very stable, strong financial institution," he said.
The seizure and purchase of WaMu, Headlee said, is a positive move that should appear seamless to the public and ensure "continuity" for customers.
"Frankly, I don't think the customer will see anything," Headlee said. "There will be little to no impact on their accounts."

source: http://www.sltrib.com/ci_10561877

[Anonymouse]

Re: America's Financial Crisis

Guys let's keep it cool and keep the focus of the thread.

[yerazhishda]

Re: America's Financial Crisis

Hey America...

[crusader1492]

Re: Bush administration: financial crisis

I was just thinking the same thing...this is just another reason to leave the Diaspora. This whole bailout plan seems like it's going to blow up in America's face. We can't fight wars in two countries, have 11 trillion dollars in debt and expect to stay above water - it's impossible for ANY country regardless of their prosperity.

And can you believe the words that are coming out of your mouth. Just a year ago I would have laughed if you had said that. Now, you're just stating a fact of reality. The Pound to Dollar is now 1:2 and may soon be 1:3. We're screwed.

On a personal level, I bumming out about this mess...all the wealth you and you family worked so hard for has a great potential to vanish in a blink of an eye.
I don't know what else to say except to agree with you...we are screwed.

[yerazhishda]

Re: Bush administration: financial crisis

When things get bad enough in this country, bitter resentment will set in and the above scenario you illustrated will come to fruition. The US is just not there yet. However, if this economic collapse is as bad as many experts are saying it is, the above senario you illustrated may come to fruition sooner, rather than later.

I'm glad I bought an apartment in Yerevan...I may be moving there sooner than I thought ( I just have to figure out a way to make a living there - especially since the the Dram is going to be worth more than the Dollar )

I was just thinking the same thing...this is just another reason to leave the Diaspora. This whole bailout plan seems like it's going to blow up in America's face. We can't fight wars in two countries, have 11 trillion dollars in debt and expect to stay above water - it's impossible for ANY country regardless of their prosperity.

And can you believe the words that are coming out of your mouth. Just a year ago I would have laughed if you had said that. Now, you're just stating a fact of reality. The Pound to Dollar is now 1:2 and may soon be 1:3. We're screwed.

[crusader1492]

Re: America's Financial Crisis

I have the impression tomorrow (Friday) is going to be a catastrophe for the stock market.

You're probably right. Investors are spooked as it is and since no "bailout plan" has been ratified, Friday (the last day of the week) will see a see a huge sell off.