Quote:
Originally Posted by LIforrelaxin
StephenB,
your right I don't know you from Joe, but I know the tatics. And like so many people you want to blame the situation in this country to Oil. It is indeed a good target. And it sure seems that it is one of the major culprits. But that is all a smoke screen.
The problem is not oil it never has been, even in the 70s. The oil embargo and issue back then where a result. The overall cause for the situation the country is in is good ole American Greed. The never ending need for more. Something bigger fancier etc. etc.
How many people that drive fullsize trucks and SUV really need them? Hell I can bearly justify mine, but I can. Especially now that it is paid for. The truth is big SUVs became status symbols.... Bigger vehicles need more gas....
Why do people need second homes on a lake that they don't use anymore then as summer homes. yet they build 3K-5K sq ft home and larger which they need to heat with oil.... once agian oil come into play, but it isn't the culprit.
Whats my point here... Oil lack or surplus of it is not the problem. For goodness sake Gas prices are already coming back down after jumping up a week ago. Greed for bigger and better things is what broke in the economy. People got so caught up in bigger and better that they remortgaged properties, put more money on credit cards then they could afford etc. etc.
All of a sudden things like ARM portions of mortgages came into play for people. There mortgage rates climbed they could cover the change.... Credit card rates went back up, and people could find there way out of debt.
As a result people stopped spending, business stopped earning money... especially business that served "luxury items". Why because the gravy train of borrowing money stopped out people where extended out as far as they could go. The business stopped being able to cover there expenses and ride out storm and start closing. Suddenly we where caught in a cyclone of financial disaster.
Now I will by the comment that Oil was a catalyst, one of many catalyst that has cause and will continue to cause economic downturns and depressions. However it has never and will never be the only cause. The Cause always comes back to greed and financially over extending. Whether it be the government, business, or people.
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You and I don't disagree as much as you think perhaps. I could have said myself much of what you just said here, but I would weigh declining world oil supplies more into the equation. Tight world oil markets are what allowed the Wall St. speculators to play radically with oil prices as they did 2 years ago and unfortunately, I think they'll get their chance to do so again.
I concurrently was reading the gas prices thread tonight:
http://www.winnipesaukee.com/forums/...080#post124080 and found myself agreeing quite a bit with what VTSteve had to say as well.
Lastly, I really do want to repeat.... I am sympathetic to folks that lose their businesses, especially craftsmen such as the gentleman that was restoring older boats. I did not mean to sound like a cold hearted hippie cheering on the struggles of those dealing with these bad economic times. It's just that I really think that the oil situation is a large part of what's wrong here (or if not now, will be in the future), aided and abetted by a US government that over regulates and over-interferes with it's citizenry and businesses. These latter two phenomenons will combine to severely challenge most all businesses and individuals in the next several years.