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Utah could see thousands of jobs eliminated
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I'm better off financially than I have ever been. This year I got a 10% raise to take me up to $62,000 a year.
I only drive 3 miles to work so the gas increase doesn't hurt me much except at the grocery store where things have gone up a bit. Even with that increase my family is still doing very well.
My job is not in jeopardy from the economy.
LIfe is better than ever.
NO DOOM!
NO GLOOM!
2,995 will be:
mortgage brokers
realtors
loan officers
home builders
other speculation-related jobs
The remaining 5? The five people making money from the latest Utah County pyramid scheme.
jobs leaving the country is actually good for the U. S. Many educated people used to tell workers displaced by illegal immigration to become educated and stop complaining. Now, the educated are becoming displaced and globalization is at the root of the problem. This is just the beginning. Isn�t it great to live in a socialized country run by a �fiscal conservative�?
�Newt Gingrich 1998
One of Clinton's main faults was that he always let the Republicans have their way with legislation. You simply can't blame all Democrats for everything that Clinton let the Republicans get away with. Why is it so hard to accept that the ideas which are causing the current crash were grown in the CONSERVATIVE think tanks like the CATO Institute and drafted into legislation by the Republicans like Phil Graham and backed by Republican senators like John McCain. How many times do you have to get kicked in the head before you stop riding this horse?
Sadly this appalling example of indifference is not an isolated instance. In fact it runs rampant among the republican elite (to the inclusion of John McCain).
"The fundamentals of our economy are strong"-John McCain
"You've heard of mental depression; this is a mental recession," "We have sort of become a nation of whiners, you just hear this constant whining, complaining about a loss of competitiveness, America in decline." - Anonymous (oops sorry that was Phil Gramm McCain's top Economic Advisor)
On the other hand the collapse of the financial and stock market is very similar to the 1929 collapse. It also is being caused by speculation and greed. Back then the problem was caused by "buying on margin" where stock was being bought with very little of the buyers own money, being driven by uncontrollable greed. The only difference is now we have been calling it leverage, but it is the same.
This time however it extended so far into the home buyer market that both borrowers and lenders were so involved with the margin/leverage mortgages on homes that they drove the price of homes far above their actual value, just as they did the stock market prior to 1929.
Loans were written that had no possibility of being repaid, unless the price of the home increased substantially. This was all being done in the financial markets with other people's money, where greed was also rampant.
The comparison to 1929 is unmistakable. I hope we can stop it this time.
Of these 3000 who will get axed and the others; did you care when you read about layoff at the Deseret News?
Why? Because every person along the purchasing chain made a commission.
Then, instead of owning a home, homes became an "investment opportunity"...and people started flipping them -- and soon, people without decent cars OR furniture, were living in huge McMansions. OR...they refinanced to get more money, to furnish their home with Chinese-made schlock.
Are you listening, Utah McMansion owners? You got that "giant clock" in your living room? It's ticking, ticking, ticking....and the energy crisis means you're going to pay, pay, pay to heat that awful monstrosity with the too-high ceilings.
sheeese louise....................
Vote demo and get us away from these greedy people.
How can Utahns vote repub. when they can see what the gop just did to our country?
Come on............. this isn't the fault of the democrats my friends.
Go Obama. At least you are hope, and change, and educated.
Throw the gop and the robber barons out!!!
At this point, blaming really isn't useful. Sure, it's important to examine the facts surrounding this mess to begin figuring out how to fix it, but does it do any good to blame anyone?
We need positive change. All of us. If something catastrophic happened and we were all without the luxuries we've never considered luxuries, would we be sitting around, pointing fingers, and saying, "You godless liberals" or "You neocon sheep"? Or would we be working together because we cared about our fellow citizens and wanted to ensure a good future for the generations to come?
Think outside whatever box or boxes you're accustomed to thinking in. Perhaps we need to imagine a life different than the one we're living now. Perhaps we need to imagine politics in a different way. Given the current situation, what can each of us do?
I am a liberal democrat. We are also childless.
So my attitude these days is this: there will be ups and downs, but the world will still be intact by the time I die, which is probably at least 30 years from now.
So its the folks with kids and grandkids who get to decide how this goes, as far as I am concerned.
My future is fine. I have fought as hard as I could, and I don't even have an investment in our future 50 years down the road. I will be okay.
The rest of you: hash it out. You're the only ones who are going to care what its like for your children. And you have voted very differently from me.
I can't stay up at night's worrying about how your children and grandchildren are going to pay for the coming collapse.
I hope you make some changes, for your children's sake.
Read this:
An agreement between the Clinton administration and congressional Republicans, reached during all-night negotiations which concluded in the early hours of October 22, sets the stage for passage of the most sweeping banking deregulation bill in American history, lifting virtually all restraints on the operation of the giant monopolies which dominate the financial system.
The proposed Financial Services Modernization Act of 1999 would do away with restrictions on the integration of banking, insurance and stock trading imposed by the Glass-Steagall Act of 1933, one of the central pillars of Roosevelt's New Deal. Under the old law, banks, brokerages and insurance companies were effectively barred from entering each others' industries, and investment banking and commercial banking were separated.
Both parties are responsible, as well as many greedy Americans.
Here are some books I recommend, they will make you nervous: The Long Emergency; Financial Armageddon; and, The Creature From Jekyll Island.
Prepare now, and fear not.
What you expect? he'd fight the greedy Republicans on every single greedy bill they were passing?
Your selective interpretation of history allows you to continue making poor choices. That's unfortunate.
That's not History, that's real-time my friend.
Democrats have held congress 22 months out of the last 12 years and it's your contention the low approval ratings for congress are solely caused my a one vote democratic majority?
Please enlighten us. If, people hate congress, why do they reelect the same people to congress from their districts?
The last three congressional elections democrats were elected, including a democrat being elected to a district in Mississippi that Bush carried by 27%
Please support your view that democrats are the problem with the low congressional ratings.
The facts cast a lot of doubt on you conclusion.
The Democrats didn't do this.
Every financially ignorant sap and ego-driven, greedy consumer who just had to have that six bedroom, two-garage McMansion is to blame. Sure, the greedy financers and real estate speculators had a lot to do with this mess, but as the consumer we can always say "NO," or "I'm not going to pay a lot for this muffler." The power to fix our economy lies in the hands of the consumer aka we of the lower and middle classes. We are under no obligation to bow down in obedience to the fat cats who sit behind the desk and try to convince us that it is their way or the highway. If they can't lower the price, we can't buy, and we won't until they do. Knock 'em down a peg.
The politicians? They didn't cause the mess, but they have no right to intervene and bailout the greed-mongers. We should passionately oppose, and remove from office any clown who calls himself a true servant of the public who takes it upon himself to give OUR money to the irresponsible and greedy without overwhelming public approval.
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