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The Water Cooler
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Cause of the recession?
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<blockquote data-quote="Dr_Mitch" data-source="post: 1628790" data-attributes="member: 7417"><p>The culture has also moved to a system of completely risk-based savings. This is absurd. The value of stock-holdings is ever changing, and events that have no weighted bearing on the economic system cause huge fluctuations of its liquid value. Wall Street is great for your long-term dollar value until terrorist attacks cause a four-thousand point plunge or the entire mortgage industry is revealed as a fraud and eliminates a third of all the dollars tied up in stocks in the ENTIRE world. This nonsense is what your 401k-type plan is based on, no matter how hybridized it is. And only the smartest citizens will come up with a better system, which will have nothing to do with ideals or religion and everything to do with hard math.</p><p></p><p>Also, Nixon's free-trade deal with China allowed your bosses and their bosses, and their previous generations of bosses to send OUR jobs overseas, and we've been complaining about the cheap **** being sent back for decades. The problem now is that cheap **** actually often-times has great quality and value. But the jobs haven't come back. Manufacturing is the most stable and lucrative form of wealth-creation, and is why manufacturers stocks have a far greater ranking and value than companies identified as financial institutions.</p><p></p><p>And the great majority of Americans have been raised in a system of steadily-declining quality of educational instruction, and simply will not ever understand any of this, or not until it's too late.</p></blockquote><p></p>
[QUOTE="Dr_Mitch, post: 1628790, member: 7417"] The culture has also moved to a system of completely risk-based savings. This is absurd. The value of stock-holdings is ever changing, and events that have no weighted bearing on the economic system cause huge fluctuations of its liquid value. Wall Street is great for your long-term dollar value until terrorist attacks cause a four-thousand point plunge or the entire mortgage industry is revealed as a fraud and eliminates a third of all the dollars tied up in stocks in the ENTIRE world. This nonsense is what your 401k-type plan is based on, no matter how hybridized it is. And only the smartest citizens will come up with a better system, which will have nothing to do with ideals or religion and everything to do with hard math. Also, Nixon's free-trade deal with China allowed your bosses and their bosses, and their previous generations of bosses to send OUR jobs overseas, and we've been complaining about the cheap **** being sent back for decades. The problem now is that cheap **** actually often-times has great quality and value. But the jobs haven't come back. Manufacturing is the most stable and lucrative form of wealth-creation, and is why manufacturers stocks have a far greater ranking and value than companies identified as financial institutions. And the great majority of Americans have been raised in a system of steadily-declining quality of educational instruction, and simply will not ever understand any of this, or not until it's too late. [/QUOTE]
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