Economic Crisis or an Economic Realization?

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irelevent

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#1 irelevent
Member since 2005 • 1497 Posts

          I think this "crisis" is less than that. it's more like a realization. Honestly when you have 5 credit cards and you don't cancel them, use them, and make dumb choices, you'll ussually get into debt and what-not.

          This time, the only difference is that the big companies got caught doing the same things as some irresponsible people. I Honestly believe that stocks are where they should have been a year ago. The dow jones should have never even reached 12k at that time.

         This is why i've allways been against credit, i believe in living within your own means. this is just what happens when people try to live outside of their means. IMO, it's about time this happened.

 

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ToWelkinAtDusk

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#2 ToWelkinAtDusk
Member since 2008 • 54 Posts

          I think this "crisis" is less than that. it's more like a realization. Honestly when you have 5 credit cards and you don't cancel them, use them, and make dumb choices, you'll ussually get into debt and what-not.

          This time, the only difference is that the big companies got caught doing the same things as some irresponsible people. I Honestly believe that stocks are where they should have been a year ago. The dow jones should have never even reached 12k at that time.

         This is why i've allways been against credit, i believe in living within your own means. this is just what happens when people try to live outside of their means. IMO, it's about time this happened.

 

irelevent

 

im not a fan of credit, or banks in general. these things were bound to happen because americans have some silly notion that governments can handle problems when its pretty clear the government in completely inept.

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Pirate700

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#3 Pirate700
Member since 2008 • 46465 Posts
You are correct in your theory but wrong with the term. It is just a cycle that always happens and this time it is relatively very minor. The companies that do poorly eventually get eaten up by the larger ones or fail. People make bad decisions and are buying $1m homes when they are flipping burgers will eventually get burned. 3000sqft homes costing $1m will eventually be worth much less.This isn't as much a recession as it is a leveling out point.