When did it all go wrong....

[MiloMorai]

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.

When did China become part of North America?

I guess if American companies want to peddle their goods in other countries they will have to have companies in those countries.

[Suave]

It went wrong about 100 years ago. When the US economy was overhauled, the institution of the federal reserve system and the income tax. Since then the dollar has lost 97% of it's value. Also a notable contributary is the complete conversion to a fiat based currency in 1970(?).

If you are 35 or older you might remember when working class families could afford a nice living with only one person employed per household. People really did live like Cleavers and Cunninghams on tv, at least as far as economics are concerned.
 

[WWhiskey]

the new deal!!

[Kaw1000]

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

1000% Right!!  Greed....Company's getting products made for a lot less and charging us the same as they always have.
 I watched the Olympics last night. Because of American greed the Chinese are getting richer and we are getting poorer

BTW I see oil is down again...when are we going to see a price decrease on Food, gas, and every other product that has gone up
because of high gas prices?? FREEKING NEVER   GREED!!!!

[FBplmmr]

It went wrong about 100 years ago. When the US economy was overhauled, the institution of the federal reserve system and the income tax. Since then the dollar has lost 97% of it's value. Also a notable contributary is the complete conversion to a fiat based currency in 1970(?).

If you are 35 or older you might remember when working class families could afford a nice living with only one person employed per household. People really did live like Cleavers and Cunninghams on tv, at least as far as economics are concerned.
 

I don't recall the Cleavers or the Cunninghams having a TV in every room VCR's, DVD players, DVR recorders, a cell phone for every member of the family, IPODS, Xboxs...
Cable bills, high speed internet, personal computers... I believe it is possible to live like the Cleavers, if you are willing to live like the Cleavers

Ps The Cunninghams rented out the room above the garage

[FrodeMk3]

I don't recall the Cleavers or the Cunninghams having a TV in every room VCR's, DVD players, DVR recorders, a cell phone for every member of the family, IPODS, Xboxs...
Cable bills, high speed internet, personal computers... I believe it is possible to live like the Cleavers, if you are willing to live like the Cleavers

Ps The Cunninghams rented out the room above the garage

Yes, but neither did the Cleavers' or the Cunningham's have to have both spouses' working to simply pay the bills' for all of that crap.

And they didn't have to pay $4 a gallon for gas, either. They spent something like $0.30. a gallon.

[redman555]

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

nothing is wrong with bush.... all the problems started when the turbanators decided 2 attack us.. we got money going 2 the war... and illegal immigrants that r on wellfare instaid of U.S citizens....

-BigBOBCH

[MORAY37]

Yes, but neither did the Cleavers' or the Cunningham's have to have both spouses' working to simply pay the bills' for all of that crap.

And they didn't have to pay $4 a gallon for gas, either. They spent something like $0.30. a gallon.

Convert for inflation, sir.  These types of comparisons are severely misleading to the Intardnets.

Gas was $.31 in 1960.  $1 in 1960 had approximately the same purchasing power as $7.39 in year 2008 dollars.

http://data.bls.gov/cgi-bin/cpicalc.pl

[MORAY37]

nothing is wrong with bush.... -BigBOBCH

Jeezuz man.  Where have you been the last eight years?

[sprattjack]

Imo it started when people borrowed too much. Economies will always go up and down but if you borrow too much at a low rate when things are good you get into big trouble when things changes. If more of the consumption was done with saved and earned money then a recession would have a less dramatic effect.

Indeed; the 2000 election was sneaky.