Comments on: After the crisis http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/ CNNMoney.com Talkback Tue, 24 Nov 2009 15:32:36 +0000 http://wordpress.com/ hourly 1 By: Brian, Houston, Texas http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27713 Brian, Houston, Texas Sat, 18 Oct 2008 03:55:38 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27713 The financial crisis is a symptom, not the root issue. Unless we resolve the root causes, I think we will continue a slow pace of decline, as other superpowers have done in the past. The financial crisis means we will need to learn to live within our means again. However, until we fix education, we will not be able to extend or even maintain our edges in technology and innovation. Ultimately, these are the key drivers of the American economy. The financial crisis is a symptom, not the root issue. Unless we resolve the root causes, I think we will continue a slow pace of decline, as other superpowers have done in the past.

The financial crisis means we will need to learn to live within our means again. However, until we fix education, we will not be able to extend or even maintain our edges in technology and innovation. Ultimately, these are the key drivers of the American economy.

]]> By: Abe Lo, Sugar Land, TX http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27644 Abe Lo, Sugar Land, TX Thu, 16 Oct 2008 14:44:45 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27644 America after WWII was like single shp left when 99 got burnt out. That good half centuty has ended. Power is twin of money. Lust for waging all wars in Asia, Middle Eeast Latin America and Europe after WWII was to stay as Super Power. That sapped out American economy. Now whole world is going bankrupt, so no one would care which country is Super Power till next two decades. America after WWII was like single shp left when 99 got burnt out. That good half centuty has ended. Power is twin of money. Lust for waging all wars in Asia, Middle Eeast Latin America and Europe after WWII was to stay as Super Power. That sapped out American economy. Now whole world is going bankrupt, so no one would care which country is Super Power till next two decades.

]]> By: Max, Anaheim, CA http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27609 Max, Anaheim, CA Thu, 16 Oct 2008 03:13:26 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27609 America is NO longer an economic superpower - it is following the path of Romans and the British. We are seeing a change of economic leadership to China and Middle East. American dream is more like a nightmare now - this country has no real future and no real leadership. America is NO longer an economic superpower – it is following the path of Romans and the British. We are seeing a change of economic leadership to China and Middle East. American dream is more like a nightmare now – this country has no real future and no real leadership.

]]> By: Bill Strebin, Louisville KY http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27588 Bill Strebin, Louisville KY Wed, 15 Oct 2008 22:04:53 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27588 Since WWII, the U.S. has turned into a consumer economy. That was fine when there were jobs that paid the wages to support this type of economy. We started exporting the good paying jobs overseas in the 1970s and have now painted ourselves into a corner. We were able to keep the party going for a few decades with credit, the Internet bubble of 2000-1, and the Housing bubble of 2002-6, but now our credit is maxed out and wages are not keeping up with the REAL increased cost of living. Something is going to have to give. Either we start raising wages so that people can spend, or we accept the fact that the consumer is tapped out and will not be spending as much. Since WWII, the U.S. has turned into a consumer economy. That was fine when there were jobs that paid the wages to support this type of economy. We started exporting the good paying jobs overseas in the 1970s and have now painted ourselves into a corner.

We were able to keep the party going for a few decades with credit, the Internet bubble of 2000-1, and the Housing bubble of 2002-6, but now our credit is maxed out and wages are not keeping up with the REAL increased cost of living.

Something is going to have to give. Either we start raising wages so that people can spend, or we accept the fact that the consumer is tapped out and will not be spending as much.

]]> By: Betty Michaelsen Las Vegas Nevada http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27585 Betty Michaelsen Las Vegas Nevada Wed, 15 Oct 2008 21:54:22 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27585 Yes. We always start up at the top and work our way down. How hard is it to realize that you have to start at the bottom and work your way up to the top. Is government that stupid that they cannot figure this out. In anything you do you have to go up not trickle down. It has never worked like that but the government continues to think it will. Start a committee that is legitimate including everyday joes and they can fix the economy which wall street and the government cannot. Put a housewife, construction worker, school teacher, fire fighter, policeman, store clerk, fast food worker on the job of fixing what is wrong. They know! They live it everyday. The 401 ks, retirement accounts, homeownerships, ect are not in their vocabularies anymore. Ask the regular folks for once and I assure you that the country would run better and be in better hands. Yes. We always start up at the top and work our way down. How hard is it to realize that you have to start at the bottom and work your way up to the top. Is government that stupid that they cannot figure this out. In anything you do you have to go up not trickle down. It has never worked like that but the government continues to think it will. Start a committee that is legitimate including everyday joes and they can fix the economy which wall street and the government cannot. Put a housewife, construction worker, school teacher, fire fighter, policeman, store clerk, fast food worker on the job of fixing what is wrong. They know! They live it everyday. The 401 ks, retirement accounts, homeownerships, ect are not in their vocabularies anymore. Ask the regular folks for once and I assure you that the country would run better and be in better hands.

]]> By: SWilliams, Boston, MA http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27571 SWilliams, Boston, MA Wed, 15 Oct 2008 20:38:56 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27571 If anyone thinks the US is still any type of superpower with the mis-use, mis-manage, over spend and over-all abuse of control then were kidding ourselves. If anyone thinks the US is still any type of superpower with the mis-use, mis-manage, over spend and over-all abuse of control then were kidding ourselves.

]]> By: Simon Tam, Vancouver, Canada http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27567 Simon Tam, Vancouver, Canada Wed, 15 Oct 2008 20:23:28 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27567 It won't as long as the United States keeps attracting smart people from all over the world, the democracy & freedom, and the American dream -- to create something new. It won’t as long as the United States keeps attracting smart people from all over the world, the democracy & freedom, and the American dream — to create something new.

]]> By: David Sanderson, Independence, Mo. http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27564 David Sanderson, Independence, Mo. Wed, 15 Oct 2008 20:15:34 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27564 We cannot continue to spend more than we make. Our country is no different. The national debt will ruin us the way we are going. We cannot continue to spend more than we make. Our country is no different. The national debt will ruin us the way we are going.

]]> By: Richard Frank, Wagoner OK http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27542 Richard Frank, Wagoner OK Wed, 15 Oct 2008 19:21:54 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27542 After all is said and done,the greed of our political and bussiness leaders has come to expose their actions for decades past. As Americans, if we don't get rid of most of the carrer politicians,and hold the incoming replacements in strict accounability for their behaviour then in fact the USA and in particular the citizens will see the demise of our great country happen sooner than it is generally thought possible. Two years max. After all is said and done,the greed of our political and bussiness leaders has come to expose their actions for decades past. As Americans, if we don’t get rid of most of the carrer politicians,and hold the incoming replacements in strict accounability for their behaviour then in fact the USA and in particular the citizens will see the demise of our great country happen sooner than it is generally thought possible. Two years max.

]]> By: Jakqe; Portland, Oregon http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27540 Jakqe; Portland, Oregon Wed, 15 Oct 2008 19:09:16 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27540 I whole-heartedly agree with Frank of Schaumburg, IL . America truly needs an answer to this consistently reoccurring choice of just two parties who in reality are increasingly mimicing each other. America truly needs a third party ( or perhaps more ) like other democratic countries. I whole-heartedly agree with Frank of Schaumburg, IL . America truly needs an answer to this consistently reoccurring choice of just two parties who in reality are increasingly mimicing each other. America truly needs a third party ( or perhaps more ) like other democratic countries.

]]> By: Alfredo, Madrid http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27537 Alfredo, Madrid Wed, 15 Oct 2008 19:04:37 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27537 Yes it is just a matter of time. The euro skeptics thought the political barriers would likely disband the young currency. It is clear it is a new contender as a world reserve currency. The US savings record is negligible so compared to Japan the US is in dire straits. Japan despite savings has had 20 years of deflation. What will the US fall back upon? More debt? Yes it is just a matter of time. The euro skeptics thought the political barriers would likely disband the young currency. It is clear it is a new contender as a world reserve currency. The US savings record is negligible so compared to Japan the US is in dire straits. Japan despite savings has had 20 years of deflation. What will the US fall back upon? More debt?

]]> By: Frank, Schaumburg, IL http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27530 Frank, Schaumburg, IL Wed, 15 Oct 2008 18:45:38 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27530 Regarding the housing crisis... the basic intent of the 1990s Community Reinvestment Act (CRA) was good. From a moral perspective, the practice of red-lining is indeed discrimination against African Americans, Latinos, and poor Whites. BUT, in practice in the Clinton Administration, the CRA was used to beat up on banks to get them to loan money to people who could never pay those loans back. So, let's stop condemning only the Republicans and focusing only on the last five years. Both political parties are guilty of contributing to this mess, beginning with Clinton and continuing on through the Bush years. Let's stop assuming that the Democrats are holier than thou. Regarding the housing crisis… the basic intent of the 1990s Community Reinvestment Act (CRA) was good. From a moral perspective, the practice of red-lining is indeed discrimination against African Americans, Latinos, and poor Whites. BUT, in practice in the Clinton Administration, the CRA was used to beat up on banks to get them to loan money to people who could never pay those loans back. So, let’s stop condemning only the Republicans and focusing only on the last five years. Both political parties are guilty of contributing to this mess, beginning with Clinton and continuing on through the Bush years. Let’s stop assuming that the Democrats are holier than thou.

]]> By: Jakqe; Portland, Oregon http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27520 Jakqe; Portland, Oregon Wed, 15 Oct 2008 18:31:42 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27520 CORRECTION: The media ( CNN, NBC, FOX, etc. ) are reporting no different than what other media around the world is reporting. The problem is; Americans may not be happy with it because it isn’t always what they want to hear even when it’s the truth. This has been the problem all along. It’s called sweeping the truth and/or problem(s) under the rug so that they may possibly resurface later on. It’s better to confront the truth and/or problems early on and head-on so that it/they can be dealt with before possibly getting worse. CORRECTION:

The media ( CNN, NBC, FOX, etc. ) are reporting no different than what other media around the world is reporting. The problem is; Americans may not be happy with it because it isn’t always what they want to hear even when it’s the truth. This has been the problem all along. It’s called sweeping the truth and/or problem(s) under the rug so that they may possibly resurface later on. It’s better to confront the truth and/or problems early on and head-on so that it/they can be dealt with before possibly getting worse.

]]> By: Jakqe; Portland, Oregon http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27513 Jakqe; Portland, Oregon Wed, 15 Oct 2008 17:58:14 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27513 The media ( CNN, NBC, FOX, etc. ) are reporting no different than what other media around the world is reporting. The problem is; Americans may not be happy with it because it isn't always what they want to hear even when it's the truth. This has been the problem all along. It's called sweeping the truth and/or problem(s) under the rug so that they may possibly resurface you later on. It's better to confront the truth and/or problems early on and head-on so that it/they can be death with before possibly getting worse. The media ( CNN, NBC, FOX, etc. ) are reporting no different than what other media around the world is reporting. The problem is; Americans may not be happy with it because it isn’t always what they want to hear even when it’s the truth. This has been the problem all along. It’s called sweeping the truth and/or problem(s) under the rug so that they may possibly resurface you later on. It’s better to confront the truth and/or problems early on and head-on so that it/they can be death with before possibly getting worse.

]]> By: Jakqe; Portland, Oregon http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27507 Jakqe; Portland, Oregon Wed, 15 Oct 2008 17:47:40 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27507 If you don't truly admit your faults and accept them; you can never correct them. If you don’t truly admit your faults and accept them; you can never correct them.

]]> By: Jim, Odessa, MO http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27448 Jim, Odessa, MO Wed, 15 Oct 2008 14:22:01 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27448 This is a dumb question with a lot of dumb answers. The US is 1/3 of world output and GDP. No one is even close, including China and India, who derive most of their income from US consumers. If we fall, they fall, as demostrated by the current crisis that we, and consequently, the world is in. If you want a good guide on how wealthy we are, use how much we are hated. The more the rest of the world complains/hates us, the better we are doing. The media likes to make it about policies, but in reality, it is about money. lets call it the "hate index", and just prior to current crisis, teh hate index was at an all time high. Sure, it will go down because of the current crisis because a lot of countries will be begging for money to stabilize their economies, and you can't be a good beggar when you are spitting on your mark. And it will go down when Obama is elected, because he will send more of OUR money to help those poor, abused and used people in Africa, who in the long run will be no better off because of it. But eventually, we will be hated just as much as before because we will recover and become even wealthier. that is the nature of freedom and the pursuit of dreams. This is a dumb question with a lot of dumb answers. The US is 1/3 of world output and GDP. No one is even close, including China and India, who derive most of their income from US consumers. If we fall, they fall, as demostrated by the current crisis that we, and consequently, the world is in. If you want a good guide on how wealthy we are, use how much we are hated. The more the rest of the world complains/hates us, the better we are doing. The media likes to make it about policies, but in reality, it is about money. lets call it the “hate index”, and just prior to current crisis, teh hate index was at an all time high. Sure, it will go down because of the current crisis because a lot of countries will be begging for money to stabilize their economies, and you can’t be a good beggar when you are spitting on your mark. And it will go down when Obama is elected, because he will send more of OUR money to help those poor, abused and used people in Africa, who in the long run will be no better off because of it. But eventually, we will be hated just as much as before because we will recover and become even wealthier. that is the nature of freedom and the pursuit of dreams.

]]> By: Jack, Clemson, SC http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27447 Jack, Clemson, SC Wed, 15 Oct 2008 14:16:29 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27447 If you compare GDP against the national deficit, the problem is not as big of a deal as CNN Money describes it to be. I get tired of the media creating hysteria. Not only CNN but FOX, the media makes the national deficit look like a bigger problem than everything else. We don't hear much about the war on Iraq? Why not? The media focuses on how they can create hysteria quickest. The media fails to meet public obligation to inform (accurately). If you compare GDP against the national deficit, the problem is not as big of a deal as CNN Money describes it to be. I get tired of the media creating hysteria. Not only CNN but FOX, the media makes the national deficit look like a bigger problem than everything else. We don’t hear much about the war on Iraq? Why not? The media focuses on how they can create hysteria quickest. The media fails to meet public obligation to inform (accurately).

]]> By: Jakqe; Portland, Oregon http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27361 Jakqe; Portland, Oregon Tue, 14 Oct 2008 20:48:00 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27361 The last great empire to fail was the Ottoman ( Turkish ) Empire which ended in 1922 and which later formed in 1923 into the present day country of the Republic of Turkey. The U.S. is next in line. It happens even to the best of them. History doesn't lie. The last great empire to fail was the Ottoman ( Turkish ) Empire which ended in 1922 and which later formed in 1923 into the present day country of the Republic of Turkey. The U.S. is next in line. It happens even to the best of them. History doesn’t lie.

]]> By: Jakqe Portland, Oregon http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27360 Jakqe Portland, Oregon Tue, 14 Oct 2008 20:35:42 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27360 Wasted money and wasted opportunities including wars ( starting with the Vietnam war ) that never should have been. Unsustainable waste ( including gas ) by a population that never saw end in sight. A transportation infrastructure that never truly adapted towards mass transit. It was bound to fail and it was only a matter of time as to when. Now that has been answered. Wasted money and wasted opportunities including wars ( starting with the Vietnam war ) that never should have been. Unsustainable waste ( including gas ) by a population that never saw end in sight. A transportation infrastructure that never truly adapted towards mass transit. It was bound to fail and it was only a matter of time as to when. Now that has been answered.

]]> By: Kim Karoh from Bellevue NE http://cnnmoneytalkback.blogs.cnnmoney.cnn.com/2008/10/13/after-the-crisis/#comment-27358 Kim Karoh from Bellevue NE Tue, 14 Oct 2008 20:10:25 +0000 http://cnnmoneytalkback.wordpress.com/?p=328#comment-27358 The US financial institutions will get none of the credit (the Left leaning Dems will take the credit). US financial institutions will however suffer all of the blame (when the Left leaning Dems shoul be getting the blame). And don't forget to throw in a whole lot of greed on everybody's part for the mess we are in. The US financial institutions will get none of the credit (the Left leaning Dems will take the credit). US financial institutions will however suffer all of the blame (when the Left leaning Dems shoul be getting the blame). And don’t forget to throw in a whole lot of greed on everybody’s part for the mess we are in.

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