The Death of Direct Sales

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Posted By: LetsGoBucs

Surprised the economy has melted down? You shouldn't be.

This is a country that produces nothing, absolutely nothing, of value. No manufacturing to speak of.

The only things we produce are "financial products."

And the last "product," mortgages to people who were guaranteed to default, repackaged as "securities,"
seems to have had a little problem.

I'm sorry that decent, hardworking people are suffering.

But you, Jim?

You reap what you sow.
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1. Financial products are an important part of a free market economy. I'd prefer to be producing them here rather than in London or Singapore or Tokyo.

2. We manufacture quite a lot still....but admittedly we could/should be making more in the USA. There have been corporations putting themselves before the country and their workers.

3. Why bask in other's misfortune? Since you have absolutely no evidence that the person you attack did anything other than work hard, it just makes you seem small.

4. There is plenty of blame to go around on the mortgage situation. The banks and investment firms deserve a big chunk of blame for knowingly ignoring the fundamentals. The government regulations proved to be a joke and deserve some blame. The people that signed up for something "too good to be true" deserve blame. And the Congress deserves a little blame for trying to engineer social outcomes through our mortgage providers.

5. We have a lot of work to do to correct our messes (mortgages, Social Security, Medicare, Deficit)....and the sooner we get to it, the sooner we will return to a sound and vibrant economic situation.