The current economic crisis is catching many people flat-footed and confused:
- Why did financial entities that survived the Great Depression go belly up this week?
- What do the two campaigns really have to say about the economy?
- What’s going to happen next?
If only there was some sort of site that took that sort of economic information from academic and industry experts and distilled it to the answers that you need… Wait a minute, I just happen to work for such a group…
This is my round about way of telling you all that Knowledge@Wharton (My current employer) has a special section this week on the Financial Crisis, and it’s powered by ColdFusion and Flash Video.
4 thoughts on “Confused About the Economy?”
Thanks for this post – I’ll be checking out that website. The country is in a horrible mess! Very scary time for us all.
I am beginning to agree that this bailout is not good for reasons other than the obvious fact that the bill for this hefty bailout will be mailed to “We the People,” but also because of my skepticism of the rush to pass it. These problems did not happen overnight. So why are we in such a rush to fix them in 24 hours. Take the damn time to find the best solution. Yes, I believe that the government should act expeditously. We certainly don’t want Congress to drag this process out like it does every decision that is placed on the table. But, when we are talking about this much money, which will mammoth the deficit even further, we need to think about the best interest of the people. All people. Not just the rich and these mega corporations! Not just whites, but minorities too.
I am not one to point the finger, but the system that we have been operating under for so many years, is flawed. In my estimation, the root of the problemis racism and classism,designed to separate people into these categories. Why else do you think it is possible for a white person who makes the same income, and whom has the same credit rating as his black counterpart, to get approval for loans that would be denied to his black counterpart. That is why we have so many foreclosures in the vanilla suburbs, because the whites don’t want to live next door to blacks or other minorities. So, they moved out to the burbs, and we aided by the government and business infrastructure including the banks, who enabled them to do so. They in essence have enabled these old cancers to survive by approving white people for loans that they otherwise would not be eligible for. Thus ensuring de facto segreagtion.
Sadly, it is nothing new, but simply more of the racism this country was built upon. To remedy this situation, (yeah right, it hasn’t happened in 400 years) Americans need to unite, and hold our lawmakers accountable. White, black, red, brown, and yellow, will all suffer because of the green. China and the Middle Eastern countries already own substantial pieces of America in the form of loans, banks, and companies. If this money were to be called due today, my God. If law makers don’t make the correct decisions for us, the little man will be left holding the bag, and things will continue to worsen.
I hope the bailout works! This is such a scary time – so many people that I know are afraid that their companies are going to fold and they will lose their jobs, and then their houses. We need help fast!
I can tell you this.I wouldn’t be voting for Obama come Nov 4th.You really want to kill the economy this man is it.He’s clueless.
I’ve listened to his speeches,debates, checked his record,his plans etc
The man is an empty suit that doesn’t have an original thought.He just parrots everyone else and tells the middle class he’s for them.
Pelosi has such poor leadership for one that she couldn’t get her own party on board w/ this and then she so politicized the process you would cut the tension with a knife.
This wasn’t the time for partisanship and it was up to her to set the tone.Right now what she cares about is getting Obama elected.
What SOME in the Congress care about is getting re-elected and they didn’t dare vote yes.
There were a few hold outs who know there is a possibility of a better bill if they hold out instead of having one shoved down their throats.
Time is critical but this is just Congress at its finest.
Obama plans on raising taxes and pushing programs.He’s trying to keep as far away from Congress as possible so he doesn’t have to get lined up with anything at all.
NO spine. He’ll do anything to get elected so he’s being real fuzzy about where he stands on this.
Remember this is the same guy that said folks cling to guns and religion because he thought that was a private conversation.No thanks.
If he says one thing to one group of ppl and quite another to another group of ppl who honestly knows what he’s thinking.
Can’t be trusted.I can tell you flat out one thing that won’t cure this problem.Tax and spend.
Back later-we’ll take a look at Freddie Mac and Fannie Mae.Not that it was under-regulated.It was over regulated and created what happened.We’ll take a look at famous last words of Barney Franks and all the warnings he got(and ignored calling it fear mongering)!