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View Poll Results: What hurt our economy more?
Consumers running up massive personal debts.
12
24.00%
Government mismanagement.
16
32.00%
Both share equal blame.
20
40.00%
Neither, some other factor is the cause.
2
4.00%
Voters: 50. You may not vote on this poll

What hurt our economy more?

Old 01-27-10, 02:54 AM
  #1  
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What hurt our economy more?

It still baffles me that as bad as the economy is and with all the doom and gloom talk, there are still droves of people out there running up debt they'll never pay off, either oblivious or not concerned with the effect it has.
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Old 01-27-10, 08:42 AM
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Re: What hurt our economy more?

Both and more.
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Old 01-27-10, 09:04 AM
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Re: What hurt our economy more?

So, no poll choice for boneheaded corporate profligacy?
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Old 01-27-10, 09:17 AM
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Re: What hurt our economy more?

Those droves of people who are running up debt that they will never pay off are saying, 'Well the government is doing it. Why shouldn't I?
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Old 01-27-10, 09:20 AM
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Re: What hurt our economy more?

Originally Posted by Red Dog View Post
Both and more.
Yep.

Government policy allows for easy credit and when companies tried to cut back on the credit the government tried to implement policies to free it back up. Vicious cycle.

Some people should not be allowed credit.

Our government is leading by example though!
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Old 01-28-10, 03:53 AM
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Re: What hurt our economy more?

The economy is good under Obama, I don't know what you are saying really.
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Old 01-28-10, 04:04 AM
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Re: What hurt our economy more?

Originally Posted by USA Green Tech View Post
I don't know what you are saying really.
To nobody's great surprise.
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Old 01-28-10, 06:48 AM
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Re: What hurt our economy more?

Originally Posted by USA Green Tech View Post
The economy is good under Obama, I don't know what you are saying really.
The question the forum has is are you serious?
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Old 01-28-10, 07:51 AM
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Re: What hurt our economy more?

Originally Posted by USA Green Tech View Post
The economy is good under Obama, I don't know what you are saying really.
Do you have a twitter feed?
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Old 01-28-10, 11:53 AM
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Re: What hurt our economy more?

Originally Posted by USA Green Tech View Post
The economy is good under Obama, I don't know what you are saying really.
Welcome to DVDTalk, Mohammed Saeed al-Sahaf!
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Old 01-28-10, 07:16 PM
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Re: What hurt our economy more?

Originally Posted by Jeremy517 View Post
Welcome to DVDTalk, Mohammed Saeed al-Sahaf!
From the name I was thinking


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Old 01-28-10, 07:19 PM
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Re: What hurt our economy more?

Consumer debt usually has a much smaller effect than government debt
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Old 01-28-10, 08:45 PM
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Re: What hurt our economy more?

If I were forced to name a single culprit, I would pick financial deregulation.
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Old 01-28-10, 10:54 PM
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Re: What hurt our economy more?

Originally Posted by Boba Fett View Post
It still baffles me that as bad as the economy is and with all the doom and gloom talk, there are still droves of people out there running up debt they'll never pay off, either oblivious or not concerned with the effect it has.
The government has just demonstrated that if you run up a lot of personal debt that you can't pay off, they'll help you negotiate with your borrowers to lower your principle, especially if a lot of other people did the same thing. So why would they change their thinking? Sure it affects the overall economy eventually, but they get their shiny new things now.

I'm surprised there isn't more aggressive cutting back of credit lines. I know there's some of it going on, but you'd think the banks would cut back. Oh wait, the govt. bailed them out too, so they didn't have to suffer as much for their bad decisions.

Last edited by fujishig; 01-28-10 at 11:46 PM.
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Old 01-28-10, 11:19 PM
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Re: What hurt our economy more?

I don't think government made the economy bad. They are doing all they can to keep it bad, however.
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Old 01-29-10, 07:43 AM
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Re: What hurt our economy more?

Originally Posted by mosquitobite View Post
Yep.

Government policy allows for easy credit and when companies tried to cut back on the credit the government tried to implement policies to free it back up. Vicious cycle.

Some people should not be allowed credit.

Our government is leading by example though!
I disagree. The blame completely and totally falls at the feet of the American citizen. This notion that the government is some sort of "them", an entity independent and separate from the citizens, is perpetuated by political parties as a way to keep them (collectively) in power.

The steady moral decline resulted in a set of ethics that does not value hard work, long-term planning, and sacrifice. The concept of "making do", "dealing with what you've got" is frowned upon and viewed as a loser defeatist attitude. Pain avoidance, entitlement, and immediate results are the bedrock of the culture now.

Collectively we voted the bums in. We re-elect them. We don't hold them accountable. On the contrary, we take great pains to defend "our guy". We don't spend enough time doing our own research on issues but rely on the predigested pablum spoon-fed to us by the media.

The erosion of the moral fabric that embraces entitlement gains momentum as it nibbles away at the bottom, pulling more of those on the edge into the abyss of government dependence. With each cycle pulling more and more down.

Yay America.
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Old 01-29-10, 09:50 AM
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Re: What hurt our economy more?

Originally Posted by classicman2 View Post
The question the forum has is are you serious?
Economy grows at 5.7 pct pace, fastest since 2003
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Old 01-29-10, 10:15 AM
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Re: What hurt our economy more?

He made the statement the economy is good. That's not true. One aspect of the economy is improving. Do you believe an unemployment rate of 10%, plus who knows what he unde-remployment rate is, means the economy is good?
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Old 01-29-10, 10:28 AM
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Re: What hurt our economy more?

Originally Posted by classicman2 View Post
He made the statement the economy is good. That's not true. One aspect of the economy is improving. Do you believe an unemployment rate of 10%, plus who knows what he unde-remployment rate is, means the economy is good?
You've got a point.
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Old 01-29-10, 11:25 AM
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Re: What hurt our economy more?

I voted for the second option but Government mismanagement allowed people to run up massive personal debts.
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Old 01-29-10, 11:28 AM
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Re: What hurt our economy more?

The economy failed in 2008 in anticipation of the election of Obama. It has continued to struggle because of Obama's failed policies. The recent improvement mentioned earlier is in anticipation of the election of Palin is 2012. Once her comprehensive policy goes into effect on day 1, you will see a dramatic upswing in the economy and we'll all be snorting coke off hookers in no time.
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Old 01-29-10, 11:55 AM
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Re: What hurt our economy more?

Ultimately the largest single thing to damage our country is voter apathy.

The single thing that made the financial 'collapse' possible more than any other was the repeal of Glass-Steagall under Clinton.

Without the orgy of mergers and consolidations in banking that followed that, most of what happened would not have been nearly as serious or far-reaching in scope. I doubt the financial mechanisms that lead to the crash would have ever taken place either. The largest majority of smaller/regional banks didn't take part in that crap and were only hurt by the collapse of credit for the most part.

Or... maybe what Groucho said too. That could be it also.
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Old 01-29-10, 02:33 PM
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Re: What hurt our economy more?

Originally Posted by sracer View Post
I disagree. The blame completely and totally falls at the feet of the American citizen. This notion that the government is some sort of "them", an entity independent and separate from the citizens, is perpetuated by political parties as a way to keep them (collectively) in power.

The steady moral decline resulted in a set of ethics that does not value hard work, long-term planning, and sacrifice. The concept of "making do", "dealing with what you've got" is frowned upon and viewed as a loser defeatist attitude. Pain avoidance, entitlement, and immediate results are the bedrock of the culture now.

Collectively we voted the bums in. We re-elect them. We don't hold them accountable. On the contrary, we take great pains to defend "our guy". We don't spend enough time doing our own research on issues but rely on the predigested pablum spoon-fed to us by the media.

The erosion of the moral fabric that embraces entitlement gains momentum as it nibbles away at the bottom, pulling more of those on the edge into the abyss of government dependence. With each cycle pulling more and more down.

Yay America.
Oh, I agree, but I happen to think it's both.
~ says the Dave Ramsey, debt free, stay at home mom
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Old 01-29-10, 04:09 PM
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Re: What hurt our economy more?

I put the blame more on the American people than I do the government, but I think they go hand in hand.

I still don't think people have learned their lesson about debt and over-leveraging themselves. Credit has become the main method that we use to pay for every major purchase in our lives.

I think the government has been encouraging debt and buying on credit for years. The use programs and policies to encourage home "ownership that really just encourage home "debt."

I think this quote from Barney Frank sums it up.

http://reason.com/blog/2009/10/12/wh...ank-opposed-to
Rep. Barney Frank (D-Massachusetts) leads the cheer with this explanation of why it's good that Federal Housing Administration is intentionally guaranteeing bad loans: "I don't think it's a bad thing that the bad loans occurred. It was an effort to keep prices from falling too fast. That's a policy."
And they still continue to interfere in the market with the tax credit, keeping rates low, FHA loans, etc.
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Old 01-29-10, 04:32 PM
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Re: What hurt our economy more?

Originally Posted by Groucho View Post
The economy failed in 2008 in anticipation of the election of Obama. It has continued to struggle because of Obama's failed policies. The recent improvement mentioned earlier is in anticipation of the election of Palin is 2012. Once her comprehensive policy goes into effect on day 1, you will see a dramatic upswing in the economy and we'll all be snorting coke off hookers in no time.
Is this a pre-emptive wmlopez post? If so, you need to work on your sphelling.
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