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Old 09-30-2008, 06:54 PM
Neal B. Day
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Default Let's talk about the economy

What do you think about this whole mess? Any solutions? Any opinions? I'm just wondering if Drew students are concerned with something that will affect us for years to come.

Any thoughts?
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Old 09-30-2008, 09:08 PM
Yasin B. Abbak
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It's absolutely scary. I'm not sure what implications it has yet for college students, but I speculate that we are going to have a hard time paying off loans since the job market is so weak.

College is more expensive than ever, and the job market we are trying to enter is paying less on average than it was ten years ago. Things just don't seem to be going our way.

I wonder if we will crawl out of this like we did after WWII and the oil crisis of the 70's. I think there is a time limit however on how long we will stay the financial capital of the world. I wish I knew how to speak any dialect of Chinese or Indian.
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Old 10-01-2008, 12:10 AM
Thomas G. Maloney
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Default Totally

Im in China, I just ate breakfast. The British Breakfast with eggs, toast, and jam. Thats the real problem, the economy needs more toast.
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Old 10-01-2008, 12:12 AM
Blake J. Gideon
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I am glad the house did not pass the bailout bill. Hopefully inflation will start to get under control and we can get on with the long overdue recession. let the bad debt liquidate and get back on track asap.
I believe The US will become the financial capital of the world again if we dont take the Dems advice by increasing regulation. Over-regulation along with overborrowing is what lead to this crisis (i.e. the community reinvestment act).
I am confident if we decrease taxes and regulation while maintaining an actual strong-dollar policy(NOT Henry Paulson's "Strong Dollar Policy") that foreign investors will come here once again. We also need to get rid of corporate subsidies and social welfare. I say let the free market work.

As far as jobs... I think once we get through the recession we will start to see jobs coming back. I am more worried about inflation than the stock market dropping or unemployment. The Fed took away M3 and we dont even know what the money supply is any more. The Government already speant appx. 700 billion on Freddie Fannie and AIG(Before the bailout!), I wonder what percent of our current money supply that was -- we will pay for it with an increase in prices.
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Old 10-01-2008, 12:22 AM
Neal B. Day
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I have to disagree with you Blake. I believe that deregulation is the worst thing possible for this situation. In fact, it was Clinton's deregulation of the banks that contributed to this mess. I believe we need to regulate banks much much much more.

(I'm not a dem or a republican. Just someone trying to figure this whole mess out)

(And as for the free market part, I agree somewhat...How do you expect corporations to pay for pollution without regulation?)
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Old 10-01-2008, 01:44 AM
Blake J. Gideon
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I think the problem of pollution is complex and dosent really apply to what we are talking about. If enough people feel we need regulation, I think it should come from the states anyways. We've regulated the economy into this mess, regulation wont get us out. Dont believe the propoganda saying that free-markets caused this. it was government intervention and artificially low interest rates which caused it.
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Old 10-01-2008, 02:24 AM
Joshua M. Putnam Joshua M. Putnam is offline
Join Date: Apr 2008
Posts: 28

Certainly there are instances of deregulation that come to mind that would have been better off not have occurring; the Gramm-Leach-Bliley Act is one that comes to mind.

If the bailout had passed than perhaps it would have provided a floor for which investment banking to stabalize, and things would return to normal...however, the US government is in no position to put itself into debt further; the creation of all that money out of nowhere would certainly be bad towards inflation.

As for placing blame, sub-prime mortgages and securitization seem to have a strong role, allowing for bad loans and the sale and transaction of said loans certainly is playing a role in the collapse of investment banks.

Regulation and deregulation is not at the heart of this crisis, it's all held in hindsight what we could have done
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