Who Killed the Economy?

[YoungFT]

Fun little game - I picked Freddie and Fannie and was surprised that they came in at #5 overall.

Of interest to the SoWal board is the ability to pick Florida condo flippers or the National Association of Realtors.

http://www.portfolio.com/interactive-features/2008/06/Who-Killed-The-Economy?TID=st092007ab

This is intended to be lighthearted - I hope the many fine realtors on the Board take no offense.

Have fun!

 

[Sandcastle]

Great link!

 

[Miss Critter]

Is Chuck Norris an option?

 

[30ashopper]

The top ten results seem to show just how little people really understand about the economy. China at 9, OPEC at at 6, and the NAR at 7? I guess it just goes to show people are looking for scape goats they can nail down even though none of these had much to do with the problem.

 

[Little Fish]

Not sure who killed the economy, but I will say that a new President who believes in big government and redistribution of wealth can't help matters.

Little Fish

 

[AAbsolute]

The first 150 years of American history shows that we rarely ran deficits. When we did they were for important reasons that were fruitful for our country. The last time America experienced a surplus was in 1969 under Nixon. Since that time little by little we have grown accustomed to running deficits. Since I was in grade school I never understood running a deficit and not repaying it. We are now officially bankrupt as a nation. America will never repay the debt. We are slowly bringing most important financial institutions under the umbrella of the Federal government, setting up the world for an enormous default of the national debt obligation. It shouldn't be long now before the official announcement.

That said, we'll run a deficit again this year.

Increase of National Debt Since 1980 Month Amount
--------------------------------------------
12/31/1980 $930,210,000,000.00 *
12/31/1981 $1,028,729,000,000.00 *
12/31/1982 $1,197,073,000,000.00 *
12/31/1983 $1,410,702,000,000.00 *
12/31/1984 $1,662,966,000,000.00 *
12/31/1985 $1,945,941,616,459.88
12/31/1986 $2,214,834,532,586.43
12/31/1987 $2,431,715,264,976.86
12/30/1988 $2,684,391,916,571.41
12/29/1989 $2,952,994,244,624.71
12/31/1990 $3,364,820,230,276.86
12/31/1991 $3,801,698,272,862.02
12/31/1992 $4,177,009,244,468.77
12/31/1993 $4,535,687,054,406.14
12/30/1994 $4,800,149,946,143.75
10/31/1995 $4,985,262,110,021.06
11/30/1995 $4,989,329,926,644.31
12/29/1995 $4,988,664,979,014.54
01/31/1996 $4,987,436,358,165.20
02/29/1996 $5,017,040,703,255.02
03/29/1996 $5,117,786,366,014.56
04/30/1996 $5,102,048,827,234.22
05/31/1996 $5,128,508,504,892.80
06/28/1996 $5,161,075,688,140.93
07/31/1996 $5,188,888,625,925.87
08/30/1996 $5,208,303,439,417.93
09/30/1996 $5,224,810,939,135.73
10/01/1996 $5,234,730,786,626.50
10/02/1996 $5,235,509,457,452.56
10/03/1996 $5,222,192,137,251.62
10/04/1996 $5,222,049,625,819.53
* Rounded to Millions

 

[Bob]

so we get a little payback on china!

 

[Miss Kitty]

The first 150 years of American history shows that we rarely ran deficits. When we did they were for important reasons that were fruitful for our country. The last time America experienced a surplus was in 1969 under Nixon. Since that time little by little we have grown accustomed to running deficits. Since I was in grade school I never understood running a deficit and not repaying it. We are now officially bankrupt as a nation. America will never repay the debt. We are slowly bringing most important financial institutions under the umbrella of the Federal government, setting up the world for an enormous default of the national debt obligation. It shouldn't be long now before the official announcement.

That said, we'll run a deficit again this year.

Increase of National Debt Since 1980 Month Amount
--------------------------------------------
12/31/1980 $930,210,000,000.00 *
12/31/1981 $1,028,729,000,000.00 *
12/31/1982 $1,197,073,000,000.00 *
12/31/1983 $1,410,702,000,000.00 *
12/31/1984 $1,662,966,000,000.00 *
12/31/1985 $1,945,941,616,459.88
12/31/1986 $2,214,834,532,586.43
12/31/1987 $2,431,715,264,976.86
12/30/1988 $2,684,391,916,571.41
12/29/1989 $2,952,994,244,624.71
12/31/1990 $3,364,820,230,276.86
12/31/1991 $3,801,698,272,862.02
12/31/1992 $4,177,009,244,468.77
12/31/1993 $4,535,687,054,406.14
12/30/1994 $4,800,149,946,143.75
10/31/1995 $4,985,262,110,021.06
11/30/1995 $4,989,329,926,644.31
12/29/1995 $4,988,664,979,014.54
01/31/1996 $4,987,436,358,165.20
02/29/1996 $5,017,040,703,255.02
03/29/1996 $5,117,786,366,014.56
04/30/1996 $5,102,048,827,234.22
05/31/1996 $5,128,508,504,892.80
06/28/1996 $5,161,075,688,140.93
07/31/1996 $5,188,888,625,925.87
08/30/1996 $5,208,303,439,417.93
09/30/1996 $5,224,810,939,135.73
10/01/1996 $5,234,730,786,626.50
10/02/1996 $5,235,509,457,452.56
10/03/1996 $5,222,192,137,251.62
10/04/1996 $5,222,049,625,819.53
* Rounded to Millions

Looks like our new tax bill. Don't worry 40%...we've got your back. Make that 50% after the election.

This probably didn't come off the way I intended, but I will leave it. I am concerned about the tax credit that Mr. Obama proposes v. the credit McCain proposes goes towards health insurance. Seems both candidates are wanting to help those citizens that are being crunched. Does it not make sense to use the "tax credit" for health care?

 

[AAbsolute]

so we get a little payback on china!

That's the way I figure it. Have you noticed all the consolidation occuring and taking under the umbrella of the Fed's? Our foreign creditors are about to feel federal eminent domain.

There is however the slim chance that we will have to give all our federal lands ( Federal parks, etc. ) to settle the debt. Or maybe start a potential war to to make for a more conducive settlement environment.

 

[30ashopper]

Looks like our new tax bill. Don't worry 40%...we've got your back. Make that 50% after the election.

This probably didn't come off the way I intended, but I will leave it. I am concerned about the tax credit that Mr. Obama proposes v. the credit McCain proposes goes towards health insurance. Seems both candidates are wanting to help those citizens that are being crunched. Does it not make sense to use the "tax credit" for health care?

Tax credits are ok as long as you cut spending someplace to pay for them. They are basically a form of decreased taxation targeted at modifying behavior. Personally I'm more for straight tax cuts, but politicians in Washington like to try and train us, similar to the way you train your dog to do tricks using treats.