[hiredhand]

The problem is that all the experts are using past data to try and forecast the outcome of this situation without properly acknowledging that this problem is vastly different than anything in the past. I think it's a completely inaccurate assumption to view what's happening now with respect to anything from the past other than in broadest terms.

As a nation, we're watching the Perfect Storm. In 1982, we didn't have 75% of the working public living paycheck to paycheck, having three credit cards maxed out, living in houses that they couldn't afford to begin with...requiring the full time employment of both husband and wife of the house. Banks pushing and selling ARMs to welfare recipients was unheard of, and we still had a good base of older people who could impart at least some sense of fiscal responsibility to the next generation.

What we're seeing now isn't really even the problem per-se, but rather an overall representation of the problem. To properly understand the problem, we have to look back on men like the one who figured out how to securitize home loans, and then understand the intertwining of things such as this, Fannie Mae, Freddie Mac, and the ones who ran them into the ground while getting rich at taxpayer expense, all under the approving eye of our government.

I respectfully disagree with you. We are in grave danger as a nation at this point and what can and will happen is anybody's guess at this point. But what we're seeing now can't truly be compared accurately to anything in the past.

Worse than this, the very types, and in some instances the SAME people are now in power over our nation. So whatever would have otherwise happened...which would have been BAD anyway, will now be multiplied on a scale that none of us can comprehend.

[litehaus]

"the ones who ran them into the ground while getting rich at taxpayer expense"

The esteemed Maximum Muddy Waters of Kalifornicate says FRANKLIN RAINES did a terrific job !!

[litehaus]

"the ones who ran them into the ground while getting rich at taxpayer expense"

The esteemed Maximum Muddy Waters of Kalifornicate says FRANKLIN RAINES did a terrific job !!

And he deserves his million a year retirement--along with the 100 mil he made while there...