Amidst all the "economic" Talks....

[Vteckidd]

This is the guy ive been listening too, and i think he is right.

I ask this question all the time, and its scary to think about. What we are seeing right now is the crash ofevery financial sector in our country. Housing, retail sales, oil prices, etc etc etc.

SO i beg the question, our economy WAS "very prosperous" the last few years. According to our GDP, jobs created, etc etc etc. Dow was seeing historic highs (14,000) , record number of home ownership, people purchasing an enourmous amount of goods, etc etc etc.

Now it seems it was all a sham. Were we REALLY as strong as we though we were or was it all smoke an mirrors? Was out economy REALLY strong, or was it propped up on falsehoods.

Was America REALLY as great as we thought it was, was it as prosperous as we thought it was, or were WE lied to.

Im starting to believe the rabbit hole goes VERY deep, that this crash we are experienceing now is just the beginning.

He makes some good points, that the "good" economy was a visad that wasnt based on anything tangible, it was based on credit which leads to debt. you can own a $100,000 Ferrari and be perceived as RICH, but what if you owe $98,000 on that Ferrari, are you REALLY well off? Stupid example but do you see what i mean. Were we really doing WELL or were be buying things we couldnt afford to pay off and giving off the impression our economy was really booming when in reality it was collapsing by the minute.

Whats interesting is watch the TICKERs on the bottom of the screen, when hes talking about our economy being bad, the DOW figures are showing 13,000-14,000 that means he was making these predictions YEARS ago.

Food for thought for sure
http://www.youtube.com/watch?v=vweLB...eature=related

[Vteckidd]

http://www.youtube.com/watch?v=l5TCd...eature=related

[BanginJimmy]

I dont have time to watch the vids now, but I think it was a combination of several factors. The housing market was smoke and mirrors, that goes without saying, but I believe the rest of our economy is strong in its fundamentals. The housing crash created credit issues, the credit issues created job losses, job losses exasperated the housing crash. Then you get into consumer confidence, people are not as sure of their economic future right now so instead of that new car, or the new TV they are putting a litte extra on their mortgage or paying down other debt. This is the root cause of the poor retail numbers.

[EM1toEVO]

Not to mention the fact that many people assumed they had job security. Many people walk such a fine line and never stop to think about it. Now, the govt is being pounded by people needing unemployment benefits. It is such a vicious cycle.

I agree that we need to let the chips fall where they may concerning the big companies. If we don't stop prolonging the inevitable, things will continue to get worse.