Actually, the principles and fundamentals of capitalism are sound… the problem is when politicians interfere with it by manipulating the economy.
Certain members of Congress (and well connected community action groups)compelled Freddi and Fannie to back bad loans. Those bad loans then created an artificially inflated housing market (and housing prices) and started an un-sustainable fake profit margin based entirely on those doomed loans. Many companies chose to invest in those funds seeing the possibility of huge returns – and for a long time it worked. Then the bubble popped and now we’re all suffering because of those people who decided it was better to hand out the “American Dream” instead of realizing some people are just not prepared for or able to reach that dream.
Take a look at who wanted additional investigations into Fannie/Freddie and the banking industry and who shouted loudest against that.
When the government starts controlling and manipulating any sector they screw it up. Just wait to see how great healthcare is under a governemnt managed system.
I’m not a sore loser, Obama won… I’m fine with that (although scared).
As for my 401K and investments… yeah, my portfolio took a hit but I’m okay, thanks.
yes, in most cities meteoroligist can advise of flash flood warnings. i live in a city that puts that information out. if a huge storm comes in and dumps a bunch of rain – well, there are many streets (underpass types) that flood. it is possible to warn. now, i like the fact someone finally correct us in stating that is not a natural river to begin with. it makes more sense that it could have happened w/o a possible warning. sounds like someone was not monitoring the water level, especially if manmade. like the levee system, how many times during the midwest flood or the hurricane season the water level was constantly being watched.
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Actually, the principles and fundamentals of capitalism are sound… the problem is when politicians interfere with it by manipulating the economy.
Certain members of Congress (and well connected community action groups)compelled Freddi and Fannie to back bad loans. Those bad loans then created an artificially inflated housing market (and housing prices) and started an un-sustainable fake profit margin based entirely on those doomed loans. Many companies chose to invest in those funds seeing the possibility of huge returns – and for a long time it worked. Then the bubble popped and now we’re all suffering because of those people who decided it was better to hand out the “American Dream” instead of realizing some people are just not prepared for or able to reach that dream.
Take a look at who wanted additional investigations into Fannie/Freddie and the banking industry and who shouted loudest against that.
When the government starts controlling and manipulating any sector they screw it up. Just wait to see how great healthcare is under a governemnt managed system.
I’m not a sore loser, Obama won… I’m fine with that (although scared).
As for my 401K and investments… yeah, my portfolio took a hit but I’m okay, thanks.
yes, in most cities meteoroligist can advise of flash flood warnings. i live in a city that puts that information out. if a huge storm comes in and dumps a bunch of rain – well, there are many streets (underpass types) that flood. it is possible to warn. now, i like the fact someone finally correct us in stating that is not a natural river to begin with. it makes more sense that it could have happened w/o a possible warning. sounds like someone was not monitoring the water level, especially if manmade. like the levee system, how many times during the midwest flood or the hurricane season the water level was constantly being watched.