Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Joe S Pack who wrote (149203)	9/22/2008 9:42:03 PM
From: neolib	Respond to of 306849

If those institutions go under the pain will be short and sweet and have long-lasting cleansing effect on the US Monitory system. Which institutions? You think the entire US banking system having a run would be short and sweet?

To: Joe S Pack who wrote (149203)	9/22/2008 10:43:40 PM
From: patron_anejo_por_favor	Respond to of 306849

Exactly. The fianncial services industry in this country has been a parasite for decades, producing nothing of value itself while steering investment into non-productive areas. Serial bubbles in tech, internet and housing which wasted our resources and squandered our once "inurmountable" advantage in education, resources and, yes, freedom. All the while playing to human greed at the expense of any and all other considerations. This is a huge country though with plenty of assets (human and natural). We've simply not faced a challenge worthy of ourselves since WWII (though there have been opportunites we've elected to ignore). We will prevail and come out better for it. Some have been greedy, the market is "taking care" of them. Some have been foolish, the market will take care of them, and a better safety net needs to help those who didn't know any better come back from it all. Like in the depression, only milder. We're there whether we want to admit it or not. We WILL pay for our foolishness whether want to do it or not. It should have been done long ago, but our "leaders" (Greenspan, Clinton, Bush) simply would not allow it. It's simply a question of whether the generation that caused it will pay (the moral, upstanding route) or whether we structually weaken the country for decades and make our kids and grandkids pay, through higher debt/inflation and taxes (the depraved, immoral way). I personally beleive in paying my debts promptly, so you know where I stand.