Yes, it might be too late to do something about the problems America faces. This is not based on my point of view but I will take Rush's word for it because I trust his judgement and he pays attention to current events much more than I do. I learned from him that we had more debt (as a percentage) just after World War II than we do now.
If you ask me, I am not optimistic but I can't live my life like a pessimist. An important question to ask is, "What got us here in the first place?" Liberalism did. And one of the tenants of liberalism is more government, more government and more government. The American people are frusterated and they don't know what to do. Why don't they know what to do? They have almost a complete lack of grounding. Why? We handed our education system over to liberals. And when education doesn't perform like it should, they pour more money into it. This sounds good and it feeeels good but does it work in the real world??? Do your own research to see if this works.
If or when we do implode, consider who we would want to be around when we need to pick up the pieces. Conservatism under a republic.
Read and study the 10 principles of conservatism and realize also that government is essentially parasitical. It feeds off the success of its people. Government naturally wishes to perpetuate itself and eventually government will consume its host.
The Humpty Dumpty Economy---------------------------------
There are a semi balance in the population. IE not everyone puts money before principles - That said lets assume that the article assumption is correct that everyone will go to great lengths to qualify.
Based on the articles assumption - PITI will be reduced to 38% of gross household income -
This is easily achieved simply by dropping the interest rate and NONE of the principle. This simply cuts mortgage industry profits - IE the only loss is lost perceived profit.
The housing industry would be stabilized - the only real form of wealth creating for the working man....
From the working mans perspective - this is an excellent plan.
To Bail or Not to Bail----------------------------------------
The bailouts thus far - based on the released information - is a free for all give away - This was no surprise - except to the working man who assumes that his government is working for him - looking out for his interests...
Clearly - Silicon Valley has a better auto product then the "BIG 3" -
It would be better for the government to pay the auto workers full pay with benefits NOT to work for the BIG 3 then to give bail out money to the dinosaur - failed business models.
We Shopped and Dropped
This week, the bankruptcy filing by Circuit City and a profit warning from Best Buy, served as proof positive that America’s national shopping spree is over. As I have long said, the business model of importing cheap goods for Americans to buy with credit cards was unsustainable. We were told to “Shop till we dropped,” and we did.
Misdirected blame - it is saying we did it to ourselves - which is a 1/2 truth. Our 1/2 is we did as they said BUT they assured us that there was no approaching train wreck. They encouraged us to finance in this manner. I made hundreds of thousands of dollars using this pyramid model - knowing that there would have to be an end some where in the future. So we all rode the train and the conductor NEVER gave 1 word of caution that the end was near. In fact he kept saying - all is well - I have everything under control - you have nothing to worry adout.... Until BUSH declares a train wreck EVEN before the stock market crashes. Thus promoting the timing of the wreck.....
By posting such an propaganda's article I can only assume that you are "working for the other side" and your previous comments taken in that light clarify much in my old mind....
You are dreaming. The liberals didnt do it. It was the NWO elite rich. 60 million immigrants in 60 years. exporting jobs ,importing slave laborers, federal reserve system,unregulated banking.
I have been gone for a couple of days. Where am I wrong? Do the elite rich not believe in liberalism? Does George Soros not hate conservatism and not endorse liberal policies? Do the democrats not want to make citizens out of illegal immigants over converting them into democrat voters? Do economic ups and downs only occur in economies with fractional reserve banking?
It is mindboggling to consider that all of these developments took place in just one week. As the remnants of America’s shattered economy continue to ooze out over the pavement, look for even more bizarre, draconian, unworkable, and downright dangerous policies to emerge from Washington.
Did I not refer to this in my original post? More government, more government and more government.
The Conservative ideals that you have were hijacked by the Rush Limbaughs of today.
I didn't learn everything I know from him. How do you hijack conservative principles?
propagandist pessimistic emotional based crap.
The pessimists are here on this political forum everywhere. Rush is pretty much an optimist. I would be pessimistic if I read and absorbed what you guys have to post. I know that none of us see reality the way it actually is and our perceptions are influenced by our paradigms and our moods and our outlook on life. Why does the ship have to go down?
Rush is conservative republicanism generating the false fight against the enemy "Liberals". Without liberalism Rush would have no radio show. So there is a conflict of interest between his daily spew and your mind.
Gee you know radio so well. Did his show not grow during the Bush years?
Liberalism didn't get us this problem. Greed did.
I agree with you half of the way. Greed did get us into this problem but you are not seeing the bigger picture. Our problems came out of years of conditioning and deconditioning.
I have been hearing that america is going down for my whole life.
Perhaps that is due to the fact that America has been going down your whole life. Compare to how long invincible Rome ruled, we are but a mere fledgling. ALL governments eventually come down and ours appears to be on the fast track compared to some others.
The bigger the government gets, the more unresponsive and controlling it is, and the more it keep spending money it either borrows or creates out of thin air, the more certain it is that there will be an eventual implosion.
Maybe there is still a glimmer of hope that we can save and restore the Republic instead of tearing it down (or watching it collapse) and rebuilding from the rubble. That will take a whole lot more people waking up and discarding the temprocentristic views they have been brainwashed into believing - such as views that we can keep artificially manipulating the economy and keep it afloat forever. Simply will not happen and cannot happen.
There have always been those who have shouted out forecasts of doom and gloom. Though many have been radical, by and large they have been merely early. What is happening today is unprecedented and many see that it is merely the beginning. Bankruptcies will get worse - besides institutions, entire states are bankrupt now. Look at California, where they have declared the government is out of money and will stop sending government checks out. Several of the others are lining up to ask for their own bailouts. Great as our infrastructure may be, it will collapse in pretty short order if we run out of money to maintain it and businesses continue to fold.
Someday there has to be a reckoning. Likely sooner than most people think.
Yes and since the beginning of time, each civilization has had far more idiots saying that it can not happen to us, yet each one has fallen. In all of man's history, no nation has lasted. None.
You're bucking very long odds if you think this one is going to be the exception.