Other views on the economic crisis

[Craig234]

Common Dreams has a variety of essays from the progressive point of view on the bailout issue.

Read them for another point of view (several variations). I'm not going to take a position on them here, just pointing to them for reference and discussion.

They're a good example why we need diversity in media for different views to be heard, while 'liberal Democrat' Speaker Pelosi works to pass the bailout.

The main gist of them seems to be to talk about how they think the predictions of a Great Depression without the Wall Street bailout are exaggerated, how things like a tax on Wall Street for the bailout have been done in the past and worked fine, how the industry can be improved with things like increasing local banking that more directly helps communities, instead of the big Wall Street financial products. The authors vary in credibility, there are some great progressives.

 

[LunarRay]

The current 'crisis' - which I don't find to be one - will simply bring about the kind of economic environment that ought to have happened over time instead of at one fell swoop. Using homes to finance cars and all manner of items and calling it economic growth... Housing being priced beyond the beyonds requires this kind of event to bring the historic value of bread, gold, beans, corn, Pepsi cola and what ever else one wants to throw into the mix back into equilibrium.

So long as the item is not an endangered species soon to become extinct all relationships ought to remain sorta constant with regard to each other. One could buy a home using x number of loaves of bread or cans of Pepsi etc... so now they are coming back in line, don't you think?


The folks with the bucks will feel the loss the most and I for one find that appropriate... perpetuate the myth in the housing market ... sub prime lending... anything to allow one to move a property and then invest in the process to make a killing...
What notion of reality bypassed the empowered to not better regulate it all... amazing.