Scare Machine

iVillage Member
Registered: 03-25-2007
Scare Machine
21
Tue, 09-30-2008 - 12:44am
I'm watching a rerun of an earlier broadcast of Larry King Live.  He's had Suze Orman on as well as Paul Krugman and Ben Stein.  They all agree that we are screwed.  Krugman and Stein (from opposite sides of the poltical spectrum) spent most of their time agreeing with each other and reinforcing the gravity of the situation.   Both say that things will get worse and for a good long time (years) before they get better.   Both seemed to think the situation is so bad that a nationalization of some banks like was done by Sweden may be necessary to rescue the economy.  Orman is predicting that credit card companies will soon be sending out notices  reducing credit limits, etc.  I think that the scare machine is taking this is seriously, probably more seriously than most of us. 

Sopal


Sopal

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iVillage Member
Registered: 09-08-2008
In reply to: sopall1953
Tue, 09-30-2008 - 12:52am
I watched some of that show, too, and they are all sounding the alarm. Is it for ratings or is it for real? Live or Memorex? lol. They sang in chorus that the plan is bad, oh but they need to vote for it. Mixed messages from the "experts". Well, we know it's no where near perfect, but repercussions could be reduced with the plan and then review it later.

iVillage Member
Registered: 03-25-2007
In reply to: sopall1953
Tue, 09-30-2008 - 1:05am
I believe this is bad, but I am confused as to the best thing to do.

Sopal

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iVillage Member
Registered: 08-19-2007
In reply to: sopall1953
Tue, 09-30-2008 - 2:13am
I think there are plenty
iVillage Member
Registered: 10-25-2006
In reply to: sopall1953
Tue, 09-30-2008 - 3:08am

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I wish they'd go the Swedish route now, rather than trying the bailout which probably won't work anyhow.

I agree it will be a long downturn. Paulson wouldn't have come begging if the larger consumer/small business credit markets weren't already at risk.

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iVillage Member
Registered: 05-27-2008
In reply to: sopall1953
Tue, 09-30-2008 - 4:33am

This is real and serious.

iVillage Member
Registered: 03-28-2003
In reply to: sopall1953
Tue, 09-30-2008 - 5:03am

I am four years away from retirement and with the stocks taking these huge nose-dives, I am afraid to look at my 401k and my pension that is invested.


There is plenty of blame to go around, deregulation of the Bush Administration, outlandish CEO salary and golden parachutes, business fixing it so people could qualify for large loans AND people trying to


"keep up with the Jones's"

iVillage Member
Registered: 07-25-2008
In reply to: sopall1953
Tue, 09-30-2008 - 7:52am

I saw suze on larry king as well and I really had a light bulb moment.

iVillage Member
Registered: 08-31-2003
In reply to: sopall1953
Tue, 09-30-2008 - 8:13am
Listening to others, I have also heard that the thoughts are that the cc industry is next.
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iVillage Member
Registered: 01-06-2001
In reply to: sopall1953
Tue, 09-30-2008 - 8:32am

Ask your self can you live on a cash basis only?

 

iVillage Member
Registered: 07-25-2008
In reply to: sopall1953
Tue, 09-30-2008 - 9:57am

you said it, we even stopped christmas presents since macy's has nothing to do with Christ's birth.


Bet the Amish aren't worried about the credit crunch!

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