Article

2008-10-08 Home Front Economy

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by tipper 2008-10-08 06:48|| || Front Page|| [4 views ] Top

#1 I've been thinking about this. There is no reason for everyone to tank just because our housing prices have. What's at work is something more fundamental, and deeper: the total dependence upon US liquidity.

WE have to buy foreign oil to keep the price high enough to satisfy our Middle East "allies".

WE have to buy from every nation of the world, at their prices, while our exports are given short shrift.

WE have to provide credit for failed states and dictators, to "buy" friends in far-away places.

WE have to defend Europe so they can support their cradle-to-grave welfare state, and ignore their own defense needs.

The golden goose is dead. Long may it remain dead. Let the world take care of itself, and may the United States stop being so "european" - and stupid. We've been played for suckers long enough, and the party's over. While it might not be the best thing for the world to dive into a financial black hole, it seemed to have survived several times without us rescuing it.

I know lots of people who have money tied up in the stock market, with that money a major portion of their retirement plan. I'm sorry, but in the short term, you're going to get terribly hurt. If you're wise enough to go long-term, I don't think any American investor will be critically hurt. The rest of the world can go to hell in its own chosen way.

Posted by Old Patriot">Old Patriot 2008-10-08 19:44|| http://oldpatriot.blogspot.com/]">[http://oldpatriot.blogspot.com/] 2008-10-08 19:44|| Front Page Top

#2 Double ditto OP!

Posted by Besoeker 2008-10-08 19:48|| 2008-10-08 19:48|| Front Page Top

#3 What OP said.

Posted by Barbara Skolaut">Barbara Skolaut 2008-10-08 19:52|| http://ariellestjohndesigns.com/]">[http://ariellestjohndesigns.com/] 2008-10-08 19:52|| Front Page Top

#4 What's this Mickey Mouse Bullshit - "WE, WE, WE . . . ."

If you don't want it - don't buy it. Somebody has an overly inflated opinion of themselves.

Posted by General_Comment 2008-10-08 20:56|| 2008-10-08 20:56|| Front Page Top

#5 But not of the way in which the US economy has been holding up other economies for the last 8 years or more.

Posted by lotp 2008-10-08 21:03|| 2008-10-08 21:03|| Front Page Top

#6 I've lost $60,000 this month. I'm riding it out. But then again, I'm 49. Someone at retirement age might be panicking

Posted by Frank G">Frank G 2008-10-08 21:40|| 2008-10-08 21:40|| Front Page Top

#7 speaking of overly inflated self-opinions.... General Soviet, how's that monthly direct deposit from the homeland?

Posted by Frank G">Frank G 2008-10-08 21:44|| 2008-10-08 21:44|| Front Page Top

#8 speaking of overly inflated self-opinions.... General Soviet, how's that monthly direct deposit from the homeland?

A little slower. The money must be drying up! Darn!

Posted by General_Comment 2008-10-08 22:09|| 2008-10-08 22:09|| Front Page Top

#9 figured

Posted by Frank G">Frank G 2008-10-08 22:31|| 2008-10-08 22:31|| Front Page Top

23:57 Betty
23:35 Procopius2k
23:30 SteveS
23:26 Old Patriot
23:21 Frank G
23:08 JosephMendiola
23:08 DMFD
23:03 Barbara Skolaut
22:54 JosephMendiola
22:47 DMFD
22:47 JosephMendiola
22:40 DMFD
22:39 DMFD
22:39 The Sanity Inspector
22:37 The Left
22:31 Frank G
22:30 DMFD
22:20 logi_cal
22:18 Sninesh Prince of the Hatfields5789
22:18 Bobby Fischer.
22:17 Tyranysaurus Snart3464
22:14 Mike N.
22:13 Mike N.
22:12 Grunter