I see an economic diasater coming...

[the_big_m_in_ok]

quote]
http://www.youtube.com/watch?v=SiagCIF6Ejw it's ridiculous that they describe all the new money as taxpayer money but the taxpayer doesn't get a share in the bank.It's counterproductive(for the bank) for the average joe to live well.

I was able to see part of the clip.  I just didn't see whether Bill Moyers guest was able to determine whether or not there was a way out of this mess.  Doubtful, in my opinion.  Too much money and too much greed.
When people get fed up with the political games that have been played for many, many! years, there'll be hell to pay.

There is no good answer to this as long as it's "business as usual."

I have my eye on the streets, since I used to live there.  People are becoming more and more angry at their lack of power over a deteriorating situation in this country.  Don't tell me I'm a fear monger!  I'm still alive because I've been able to see a bad situation and personally do something---whatever that was---to mitigate it.  In this case, as on the streets, I'll rely on my good luck.  I don't have the power to do anything else.  The economy won't cure itself on my say so.  Until something better happens, luck is all I have.

Later Re-edit:
I did see more of the clip.  What Moyer's guest proposes is essentially more of the same.  And, I expect his proposal will be met with resistance.  People are doing what they did before the Stock Crash of '29 and they're doing it with more money that they're highly dependent on.  There is no good answer to this.  People can finally lose confidence in the economy---especially the Chinese who bought many U.S. assets---and then this'll all act like a house of cards.

--Lee

[infringer]

Onthecuttingedge2005,

You are the only one who appears to understand the economy of the US rather odd that other people do not see it been proven time and time again the logistics of it all...

All the rest of folks out there stop fear mongering in a feeble attempt to further push the economy into the abyss as some would like it...

This is not going to happen people have been at this for nearly a year and all the economy does is rebound more and more since the start 544,000 jobs were added to the health care industry! And my job in the entertainment industry has been the busiest it has ever been since the start of the company we had to lease space just to run two operations and we hired approximately 10 new employees that were only supposed to be temp help now they are full time!

Truth is rough I know of people who do have it a bit worse then I sure but there time has been long coming ... For one you can only sell so many lawn mowers or vehicles before you wind up with way more product then demand once you get so big you start leaving too much money in wait and wind up taking a loss. Just like the stock market they were depending on being able to sell x amount of items as if they just expect there never to be a drop in sales... This is a very risky business model and I suggest no one follows this model... Instead focus on keeping a core crew and making higher quality products in lower numbers this takes more time but in the end you will survive to see another day while others will fall off.

GM is a prime example you have how many auto manufactures out there eventually they will produce good products of interest to the consumer and your sales will be down nothing that should not be expected but they never planned for this turn of events and wound up bankrupt as Toyota and Fords sales increased there sales numbers dropped drastically it was determined to happen at some point or another why they did not plan for this event is a crucial question.

Finally at the end of the day we all have to have a job make money and live so no matter how much debt the number says we are there will always be work and always be a way it may not be the easy life or job that you are used to but nothing defined as "Complete Collapse" of the financial sector it will not happen I will bet tons of money on that!

-infringer-

[the_big_m_in_ok]

infringer said:

You are the only one who appears to understand the economy of the US rather odd that other people do not see it been proven time and time again the logistics of it all...
...All the rest of folks out there stop fear mongering in a feeble attempt to further push the economy into the abyss as some would like it...
...This is not going to happen people have been at this for nearly a year and all the economy does is rebound more and more since the start 544,000 jobs were added to the health care industry! ...

@infringer
I'll only address the comments above.  Take a look at this:

http://www.flickr.com/photos/speakerpelosi/3333412448/

The rate of employment is still rising.  When it reaches 10%, the unofficial, real, rate should be about 20-25%.  And now prime mortgages are becoming a problem to lending banks.  But, to focus on you assertion that jobs are being created, yes they are, but not enough of them.  Have a look at this:

http://vdare.com/roberts/060507_economy.htm

4.4 million jobs were lost in the past 14 months and the Europeans and Asians may be about as bad off.  They need to make up the slack in business the Americans aren't spending on, or the feedback effect of declining infrastructure could continue for awhile longer.

Then, as in the opening post of this thread, the impending cutoff of benefits money for the unemployed is going to make a bad problem worse.  No immediate end in sight.

--Lee

[triffid]

In a recession if you have a job,you keep it.Most people had jobs during the great depression,but the 18% who did not represented millions of people who lived in misery.The only thing that brought us out of the great depression was WW11,not the USA government.Not the US congress.triffid

[the_big_m_in_ok]

In a recession if you have a job,you keep it.Most people had jobs during the great depression,but the 18% who did not represented millions of people who lived in misery.The only thing that brought us out of the great depression was WW11,not the USA government.Not the US congress.triffid

Historians would say you're right, 70-80 years after the fact, in hindsight.  The Gov't at that time had to borrow billions in today's dollars, but they did. If Osama bin Ladin becomes emboldened by our apparent lack of financial resources to fund the War on Terrorism, Obama may declare WWIII on Muslim extremists.  The extremists are sociopaths who don't care about anything but what they want, e.g., to kill us.

--Lee