Why It's Taking So Long To Fix the Economy

Wake-up call

So do I spend to help fuel the economy, or save for when the economy gets worse? Such a dilemma. As irritated as I am with current state of things, (i.e. economic crises, out-of-control government, moral decline), I thank God, (yes God), every day that I live here in the good ole U S of A.

Screenburn of IN @ Mar 12, 2009 18:21:42 PM

Investors

Wish everyone would stop using the word "investors". They're not investors, haven't been in a long time, they're traders, that's it, pure and simple. A real investment doesn't lose 50 percent of what it cost (I didn't use the word value )overnight. A casino can clean you out in a heartbeat

Charles Felker of PA @ Mar 12, 2009 16:19:09 PM

Russia and China

David of Texas, When are you leaving?

Ray of CO @ Mar 12, 2009 15:25:13 PM

Right On David of TX!

You said it David! No need for me to add any more to my comment other than to say GOOD LUCK in asking Americans to spend, spend apend our way out - with no job security to ensure the money keeps coming in, that isn't going to happen any time soon!!! Perhaps if these companies were less short sighted then the jobs would stay and people would be more inclinde to spend. What a mess, as you say! At least the mess is bi-partisan - both parties are equally to blame !!

Karen of NV of NV @ Mar 12, 2009 14:49:12 PM

average Americans aren't stupid or blind, just helpless

The American economy has been a house of cards for a long time, due in large part to the 'one hand washes the other' and 'look the other way' policies between government, banking, Wall Street, and corporate entities. It was going to fail at some point in time, but why is no one admitting that the huge spike in gas prices, during which time oil companies posted their most obscene profits ever, was the final straw that broke the backs of the average American upon whom the whole shell game was riding? The collapse has been a long time coming and will be even longer recovering but so far all the attempts to 'fix' it appear to be just a band-aid to perpetuate the greed and manipulation by influential powerbrokers that got America into the mess in the first place. The whole economic, political, corporate and banking systems are definitely way overdue for a complete re-structuring, but it has never been mentioned that some timely management of oil prices could have averted the global domino effect that is now unstoppable. I have very little sympathy for the corporate executives and the companies that are going down the tubes, except for the impact it has on the everyday American losing his or her job because of it. The flip side of it is that we all have accountability and have contributed to the problem if we allowed irresponsible, head-in-the-sand, gotta-have-it-all personal spending habits to put ourselves deeper into individual debt than we could handle.

kranky1 of MO @ Mar 12, 2009 14:38:23 PM

This Country Is Done

There is so much that is wrong with this country I don’t even know where to begin. The symptoms we are feeling now are the result of the free money 80’s, 90’s, and early 00’s. People in this country have been vastly overpaid, credit has been extended to the unworthy, most companies have financed their operations with debt and are poorly run to boot, and the entire country has lived way beyond its means. The government, the companies, and the citizens of this country have all borrowed and spent recklessly and now the results of the borrowing and spending frenzy are being felt.

When times are good it’s easy for a company to appear healthy, but it’s only when times are bad do we truly see what a company is made of. Well, it’s apparent to me that way too many companies in this country have been very poorly run. It is absolutely dispicable the kinds of layoffs being announced daily by both large and small companies. Why did these companies not have a rainy day reserve? Why did these companies completely over leverage themselves with debt instead of financing their operation with profits? Why have these companies only managed to show any kind of profit by reducing their expenses rather than growing their business through increased revenues? I’ll tell you why, it’s due to greed, stupidty, incompetence, lack of vision, and complacency.

I am so blessed I work for a company the exact opposite of that, a company that has financed all of its operations with CASH, a company that has been extremely conservative with its borrowing and currently owes creditors Zero dollars, a company that has millions of dollars saved for a rainy day to take us through times like this, a company that doesn’t have to announce massive layoffs (we are actually hiring not firing now) because they either over hired or have no money saved to pay their employees, a company that will continue to grow during this downturn, albeit at a slower pace than the past couple of years. It is unfortunate we are an anomally. There is just so much general incompetence and greed in corporate America its staggering. Really it’s just a reflection of the incompetence and greed with the typical American, who are more interested in owning a McMansion, a boat, expensive cars, expensive clothes, expensive electronics, and a lifestyle way beyond their means. I was listening to a famous financial advisor on talk radio the other day, and some idiot called in and wanted to know how he and his wife could get out of their vicious debt cycle. Two 35 year old professionals (with no children) with an annual net income of $250,000 a year and they are up to their eyeballs in debt? Excuse me? I make a 5th of that and I have no debt to my name, but that’s also because I understand what it means to live within my means. A concept that has eluded American government, its companies, and its citizens.

America, get ready to bow to your new masters, Russia and China!

David of TX @ Mar 12, 2009 13:51:44 PM

Please keep Gottschalks open too.

Why because I work at Gottschalks my name is Chris Linder and I work for a living and I wonna still keep it that why to and so does my friends that I work for too. Thanks Chris

Chris Linder of WA @ Mar 12, 2009 13:47:58 PM

the new world order is well in progress

this was all planed by the few elite who have thier sites on the new world order and one world government.

wake up america as its all most too late.

911 was an inside job to cause fear to control us.

fema already has concentration camps waiting for us when martial law takes over.

thomas of NY @ Mar 12, 2009 13:45:58 PM