The Financial Crisis—a Failure of Communication as Well as Economy
Bush cannot use the bully pulpit, McCain is not interested in it, and Obama doesn't have it
Reader Comments
Our economic crisis and meltdown
WHERE IS BARACK OBAMA?????????Please, please come out and tell us
your "acolytes" what would you recommend this very moment...I had $600,000.invested in the stock market and now I have none....I am 79 years old with a conservative portfolio.....That money represents what I as a retiree had for the rest of my life...and my finncial advisor thought like the Paulsons of the world it would see me through my life....Please answer to this situation which is going on in many middle class living rooms in America..
Sincerely yours, Barbara Claman, a democrat for Obama
Monday Morning Blues, AKA Here We Go Again!!!
With the ink still wet on the bailout bill yet to be approved by Congress, the morning headline is that Wall Street wants a rate cut by the Fed this week to accomplish what??? When will Wall Street be happy??? The bailout if approved will already increase inflation pressures yet to be realized yet the leeches on Wall Street will pressure the Fed to lower interest rates even farther which will devalue the dollar and skyrocket prices n MainStreet. When will these Wall Street Barons ever be happy???
people in the dark
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Opps! No intent to hide or such.
The opinion with the same title came from me:
AJdlReyes CA
people in the dark
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The science of Economics is convoluted and direly dull; the practice of Economics, notably, in Wall St.has been intentionally too much of mirrors-and-smoke. Somebody has got to explain what is happening, why, and how come, and whereto from here to John Q. Public. Mr. Schlesinger is right -- by now, the problem has become one of communication since any solution thereto requires the acquiescence of the people.
The dilemma is, those who are supposed to attend to the problem lacks credibility (Even Paulson comes from the coterie that is seen as responsible for the current situation), and they are asking blanket authority to handle humongous amounts of money. It is asking too much to expect the people to approve of this scheme as it is now designed.They have been short-changed, burned, too often before.
It is time for democracy to put in play, actually and seriously. Tell the people -- and tell it like it really is.
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Communicating the Financial Crisis
My good friend and colleague Eric Janszen (founder of iTulip--- the economics blog) has created a super animated video that explains the current financial crisis (what led to it and where it's likely to go)
Go to his website at www.itulip.com and click on the video named “Wile E Coyote Government meets Financial Crisis”
Eric's made predictions about the dot-com and housing bubbles and gold well before others. He’s been right in the past.
The video's worth watching and assimilating to understand how we got to this debacle.
Pray for calm heads and resolution of the bailout, re-named “rescue” plan by W this AM. May your portfolios stay fat and Enjoy the debate tonight
--Patrick Rafter (Wellesley, MA)
