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Underlying cause of the U.S. financial crisis

 
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harveyc
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Joined: 10 Jan 2007
Posts: 372
Location: Sacramento Delta USDA Zone 9

Posted: Mon 29 Sep, 2008 11:24 pm

This most likely will not be popular viewing for some, but it is completely "G" rated and something I've been trying to say myself for some time.

It is a fast-paced video so you might want to get some caffeine into your system and eliminate distractions!

http://www.youtube.com/watch?v=NU6fuFrdCJY

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Harvey
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dauben
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Joined: 25 Nov 2006
Posts: 963
Location: Ramona, CA, Zone 9A

Posted: Tue 30 Sep, 2008 12:44 am

harveyc wrote:
This most likely will not be popular viewing for some, but it is completely "G" rated and something I've been trying to say myself for some time.

It is a fast-paced video so you might want to get some caffeine into your system and eliminate distractions!

http://www.youtube.com/watch?v=NU6fuFrdCJY


Haa, do you think this will get any airtime on NBC? My boss and I had a discussion last week about the topic of your video. If just looking at our wallets, the government bailout probably would have helped us, but like I told him, I tend to cut my nose off to spite my face. Deep down, I believe if you dance to the fiddle, you better be willing to pay the piper. The United States has been filled with people behaving irresponsibly (no matter what political side you're on) and now it's judgement day. I think those that are responsible will be okay, if not prosper. For those who have a habit of reckless behavior . . . I hear the soup kitchen isn't as bad as they say.

What's funny is that some of those who have have caused the problem may be very well be holding the bag of worms after the next election. They won't be able to spend the next 4 years pointing fingers at previous elected officials while the economy sinks into a depression. Remember the California Governor Gray Davis? Smile

Phillip
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harveyc
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Joined: 10 Jan 2007
Posts: 372
Location: Sacramento Delta USDA Zone 9

Posted: Tue 30 Sep, 2008 12:49 am

Yes, I remember Gray Davis better than I wish I did! I was just out gathering chestnuts with barely any light and a light bulb went off in my head thinking of setting up a resale operation in Nevada to avoid paying the deficits this crazy state has arranged to develop through irresponsible spending habits.

There is a possible benefit of this financial crisis. All of our foreign debt is in U.S. Dollars and if the dollar gets devalued enough we can pay those debts back for pennies on the dollar! Of course, we need to quit digging the hole before we can do that! Wink

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Harvey
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dauben
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Joined: 25 Nov 2006
Posts: 963
Location: Ramona, CA, Zone 9A

Posted: Tue 30 Sep, 2008 12:59 am

harveyc wrote:
There is a possible benefit of this financial crisis. All of our foreign debt is in U.S. Dollars and if the dollar gets devalued enough we can pay those debts back for pennies on the dollar! Of course, we need to quit digging the hole before we can do that! Wink


I just got done reading an article (see below) about "hyperinflation". I didn't know what the word meant until now.

http://www.istockanalyst.com/article/viewarticle+articleid_2659804.html

The Chinese are laughing at us. I can't blame them:
http://www.businessweek.com/ap/financialnews/D93F17D00.htm


Phillip
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