Reply #31: You mentioned the magic number -- $62T [View All]

[lxlxlxl]

I personally welcome a stock market crash and credit crunch, but like all of the econ collapses I tried to mention earler...we have no way or idea how to replace the banking/credit/bond system with something that can keep the food moving and lights on. do you think people are strong enough to sit through that type of economic cycle and still make reasonable decisions? i just see absolute political chaos that will keep republicans back in the game.

what makes me fucking sick is

1) i think it is definitely clear though that when right wingers talk about how liberal economic/social policies threaten to destroy the economy...what they are really saying is that THEY will destroy the economy other than let those programs through. they are holding everyone hostage by using the market.

2) the way this particular economic meltdown has a top-down class warfare angle where the Randians can somehow pawn CDOs as something they did for poor homeowners out of the goodness of their sweet little hearts. it is just fucking sick to hear this stuff on TV. it is so absolutely fucking false.

3My biggest concern is that this country just doesnt seem to be able to reach any accountability anymore. If the 62T$ market crashed, and everyone stopped lending, and the market crashed taking down massive pension funds...The Repubs will blame everything on the last two years in congress, and this will work on TV.

Economics are way too complicated for overworked and frightened americans to care what CDO's or MBS's are...

Look, even with OBama...who I fucking love and have so much respect for. I think it would be great if he wins but at the same time, the country gets to turn the page on eight years of shit without really recognizing what the hell was wrong. what guarantees do we have that there isnt another Bush II coming after the next eight years.

yes i think that far in advance.