Scare Machine
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Scare Machine
| 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

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True. They don't use electrical appliances or motorized vehicles either. They have been living as they do for over a century and are accustomed. We (collectively) are not.
But unless you're Amish and know through first hand experience (kinda doubt it with the computer use), saying that a credit crunch would not affect them could well be incorrect. Most of them are farmers and they might buy machinery (horse-drawn) and seed with store credit.
Gettingahandle
Ignorance is Nature's most abundant fuel for decision making.
Facts stifle the will, hobble conviction.
Gettingahandle
Ignorance is Nature's most abundant fuel for decision making.
Never said I was Amish or didn't use electricity.
Yes and we do it all the time.
Bet the Amish aren't worried about the credit crunch! Need to live off the land like the Indians, they didn't care about credit or wall street.
You may want to refer to the June 8 2007 National Catholic Reporter's article about the Amish Loan fund the the mortgages that they have granted.
I agree with you. Neither my husband or I have a pension, we will be reliant on our 401K and our Social Security. I am just grateful that conservative Republican didn't get their way when they tried to privatize Social Security.
I also agree that we have a right to outraged and the people who headed these corporation should be tried and jail and their earning confiscated.
I am not sure how they do.
Sopall,
I agree with what you have posted however companies are suppose to plan and budget for these things.
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