Yes it is. This downfall started when major businesses started to go over seas for cheep labor. Our government allowed them to take the well paying jobs away from us and as a result, it was impossible to maintain a stable economy in the US. Did anyone ever wonder how we were going to buy the products that are being brought back into the country? If you take our jobs, you take our income. If you take our income, you take away our ability to buy your products. If we can't buy your products, the economy will collapse. This was obvious from the beginning. If we the Pmerican people don't stop claiming political parties and start electing leaders based on their desire to improve the quality of life for all Americans, things will only get worse. By the way, if you ever hear someone say they are going to vote for a candidate because he seems like the kind of person you can sit down and have a beer with, please give them a very hard V-8 slay on the head.

Amen brother. Make us working class folks compete with child labor and you get this. Brilliant! But things are great for the elite. We and Jesus are coming to talk to  y'all  real soon.

Ross Perot, to all our illustrious politicians horror, was correct.  The 'big sucking sound' went on for years and now we are here.  As a car dealer, I saw banks giving crazy loans to people who thought they could afford much more than made sense and had marginal credit from overextending themselves in the past.  It was a big party, baby, but now it's one heck of a hangover!

One must, however, put blame squarely on the shoulders of our fine educational system that teaches everything EXCEPT the most important principles of economics and how to manage ones budget.  People shouldn't need a bank to play daddy and tell you no when you're about to jump into financial water that is too deep.  The level of ignorance regarding money and its role in daily life is appalling.  Our kids graduate knowing more about useless algebraic formulas than the essentials taught two generations ago.  But I fear no one within the educational heirarchy wants much to change, especially the curriculum.

So...grab the aspirin.  Party is over till this headache is gone!

PS...the elite are getting their butts handed to them as they are the ones who borrow millions of dollars to open a business so you can go buy things you need...or don't need.

An Open Letter to Congress:

Dear Congress,

I understand that we have been set back to the Financial Stone Age.

I understand that the financial wheel will not turn unless 2 things happen:

1. The top of the financial food chain has to write down all debt to zero.

2. Workers (all the rest) have to work for the value of labor.

This “rescue legislation” will create huge suffering. Prices on the basics will astronomically rocket out of the viable financial universe of real people. All labor will cease. But rather than have labor cease for just a year, by propping up the failed dollar, the standoff will drag on for 5-7 years.

We have to accept that the Financial Clocks have been set back to Zero and we are at the beginning, in Year 1.

We have to accept that this “rescue plan” will cause years of untold mass suffering by devaluating the dollar and elevating the price of real goods.

We have to accept that the top of the food chain has to start with ZERO.

We have to write down all debt, appropriately, to zero from where it all now sits on the books-Undone.

All the rest have to work knowing that the paychecks aren’t going to come until the financial wheel starts to roll again.

If there is one thing Congress can now do, it’s this:

Loan the value of money to companies to finance their payrolls while the companies write all debt back down to ZERO.

It has to be done. We can DO IT NOW and GET ‘ER DONE. Or we can wait 7 years and start over after everyone suffers an exorbitant amount.

Make no doubt about it, we are at a financial Armageddon, and both sides of the issue have to accept the reality that their way of seeing the world of Finance is an illusion that now lies in shards on the ground. Better to pick up the pieces and start again now, smarter and wiser, than to wait 8 years for those in denial to realize the bitter truth of this standoff:

“We need them and they need us.”

Thank you for your time.

Sincerely,

Lisa Wagner

We were tought to save for old age from as young as I can remember up till this year I like most tought we had enough for retirment but now with all this mess , we are wondering what will happen from now till we die, will we have to find a job? at 66 it will be very hard mabe welfare will be our lot.

Thank you mister Goverment for not running the ship as a true Captin that cares about the crew

Americans need to settle down now and get to work.  The $19,000,000,000,000 of assets that have been created since 2001 have not disappeared, they're still here!  We must stop borrowing money we know we can't repay and learn to enjoy the wonders around us.  The best things in life are still free.  Everything else is a convenience or an inconvience.  Buck up!

If you fill the need to puke on something, go to the Clinton library and you will find hanging on the wall a list of Mr. Douche Bag’s greatest accomplishments.  Listed as #7… drum roll please…. Home ownership to more Americans than ever before… I’m sure the Clinton’s will quietly remove the list from the wall and publicly state no list ever existed, so I took a picture.  Giving homes to everyone and shipping our jobs overseas through NAFTA was a brilliant idea!  Great job, Bill…    

The Holy Bible says that the love of money is the root of all Evil.Now we can see

what the lust for money by our big finacial intitutions has done.Proved the bible to

be very True!!!!

Our Senstors and congressmen need to begin living like the people that they represent by changing their retirement to social security and their retirement medicval care to medicare.  Why should they have a better system than the people that they represent?  They should go to term limits of no more than 6 terms for representatives and 2 terms for senators.  CFampaign finance laws should be passed that limit the amount of funds raised to no more than $1 million .

Well it's over, we have hit the retaining wall of economics. In the past 200 years our country has come to the aid of all the other lands on earth, we, at least in theory, thought we were doing the" right thing" for all those involved, either through troops or monetary or both all in the name of democracy, folks those days are over! In the United States we are so consumed with wealth and power that our leaders or those who aspire to that end will tell us anything to get elected, through voter fraud to handouts to under the table back room deals that no more look out for you than the man and the moon. In todays society honor takes a back seat to getting ahead, by any means required, people, country, and all that goes with that line of reasoning is nonessential to gaining wealth and power, we do not get along in this country rich-poor, white-ethnic, repub.-dem., our end is in sight, as we look to dismantle the military, tax the crud out of people that do work, which will be fewer because of the economic downfall, so the "middle class" will not be able to receive any tax relief, and the other entitlements, social security, medicade, medicare, all gone. If this sounds bleak then so be it, but jot it down and see where we are in just 2-3 years, we are going to become a second rate country while europe will unite out of shear needing to and will no longer need our country other than the natural resources, and the funds from that will go into the politico's and the few remaining wealthy people coffers. This is greed playing out at it's worst, and at this point only God himself can stop our own self induced demise, let's hope that we can really work for an answer instead of our normal way of dealing with our differences before there is'nt an answer to arrive at.