When did it all go wrong....

[ghi]

With all the bad economy talk, dour outlook on the USA and "sad state of affairs" in general with everyone blaming everyone else........

When did it start turning this way?  -  Do you think there was a catalyst for it?

I've seen one of this economic graphic published in "USA Today" few weeks ago, i think it happened when you changed the manager

[Chalenge]

You can blame Bill Clinton and the desire of Congress (DEMs and REPs both) for pandering to voters by insisting that banks make it easy to grant loans (that everyone knew were high risk) to individuals that were buying more then they could pay for. Credit has never been a good idea when its used this way and it never will be.

[MORAY37]

Iraq. There were several papers written about 15 years ago that showed 4 years is a tipping point for a war. Beyond that, economies suffer significant economic damage. Private investment is forfeited for war spending, which creates no real value in the economy.

The truth is right here.

[SpazMan]

it started years ago when banks started handing out credit cards with 10k limits to kids with jobs making $6 an hour flipping burgers...the housing issue is just the final straw in this ridiculous practice

can be summed up in one word   GREED

I agree about the housing. When my wife and I started looking for a house we went to a bank and got preapproved. They told us we were approved for $250,000. We ran the numbers and there was no way we could afford a house for that price. We bought our house for less than half that. The banks made their bed now they have to sleep in it.

[Reschke]

When Allen Greenspan was chairman of the FED.

[MORAY37]

IMHO it all started going wrong when;

A: American self-responsibility was; no longer practiced, adhered to, nor taught.  We all simply blame each other, or other countries, never getting a thing accomplished.

B: Education took a backseat to propaganda.  Ethics and Critical thinking are traits we no longer instill in our children.

Basically, somewhere in the mid 80's.

[Donzo]

I've seen one of this economic graphic published in "USA Today" few weeks ago, i think it happened when you changed the manager

(Image removed from quote.)

That chart needs to have an overlay of defense spending...you will see that it was cut drastically right around the time the surplus started going up under clinton.

[AKIron]

IMHO it all started going wrong when;

A: American self-responsibility was; no longer practiced, adhered to, nor taught.  We all simply blame each other, or other countries, never getting a thing accomplished.

B: Education took a backseat to propaganda.  Ethics and Critical thinking are traits we no longer instill in our children.

Basically, somewhere in the mid 80's.

At least as far back as the 60's. All I'm old enough to remember.

[Hangtime]

When did it start turning this way?  -  Do you think there was a catalyst for it?

Lincoln. The rat bastard.

[Bronk]

I've seen one of this economic graphic published in "USA Today" few weeks ago, i think it happened when you changed the manager

(Image removed from quote.)

ERM "projected" surplus ring any bells?

[FrodeMk3]

I agree about the housing. When my wife and I started looking for a house we went to a bank and got preapproved. They told us we were approved for $250,000. We ran the numbers and there was no way we could afford a house for that price. We bought our house for less than half that. The banks made their bed now they have to sleep in it.

I would say that the blind eye turned to the Real Estate/Mortgage market, letting home prices' escalate at too fast a rate due to cockamamie mortgage schemes, but you have a good example right there.

But, the slow migration of our manufacturing base since the late '70's/'80's is really starting to catch up with us now. Trade agreements' like the WTO and NAFTA have helped spur that along.

[Getback]

When a republican was elected president was when all the talk started happening.

Ditto, Yeah the press always has their favorite liberal.

I remember just prior to Clinton being elected it was all bad. Then immediately after it was all good.

[lyric1]

I would agree with NAFTA. The American workforce has not recovered. Probably never will

Ditto.

[Dago]

I blame Pelosi, mainly because I hate that shrew.

[CAP1]

IMHO I believe it happened when NAFTA was passed. The minute we let manufacturing move out of the country, we doomed ourselves. Its like my cousin said the other day, if these companies in Mexico and China want to peddle their goods here let them make it here. All NAFTA has done is make a group of CEO's rich.

so far, i think this is the most valid point.