Sorry about the extra print at the bottom of the cartoon. I found this link to be very helpful to me in understanding this mess we are in. Thought I would like to share it.
http://www.backwoodshome.com/articles2/silveira115lw.html
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7 comments:
Wow, that article really explains clearly the pickle we are in.
So Carter and Clinton pressured the banks to offer more and more subprime loans and then when it became apparent there was a problem, Congress ignored it hoping it would fix itself or go away somehow, right?
And then it snowballed from there when all the foreclosures started happening.
Thanks for sharing...it was interesting, but I wonder how far down this thing is going to go? The U.S. lost 70,000 jobs this Monday alone! It is frightening.
I think we are in for a real ride. The fix will be painful and no politician wants to be the one that was in office when the public (liberal public) had to be pained. Soooo, the democratic congress and president are printing money we do not have and throwing it at the problem. It will be really a long, long problem. We are indenting out grandchildren now...I hope we wake up before we do it to their grandchildren. Ours will certainly not be known as the "Greatest Generation".....
I agree completely...somewhere I read that our greatest financial advisors aren't at all sure that throwing more money at the problem is going to solve anything. They just don't know what else to do.
The post WW II era of the U.S. being the sole world economic superpower is clearly ending. We need to get use to the idea of sharing the stage with China, India and possibly Brazil.
I appreciate you posting this link. It is the clearest explanation of the fundamentals of our current economic problem that I have seen.
I am certainly not smart enough to understand the way out of this mess. It makes those of us who played by the rules and met our obligations feel like chumps.
Sorry to comment again but, I wanted to copy and paste a quote my friend posted on her blog...
" You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that, my dear friend, is about the end of any nation.
You cannot multiply wealth by dividing it."
~~ The late Dr. Adrian Rogers
Anyway, reading your post has sparked a lively 2 1/2 hour dinner discussion at our house!
It makes us wish you were here. You ALWAYS make things more interesting!
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