A comment from the post The Current Economic and Political System Makes Me So Angry:
"Hi, you might be right about the bad economy and poor judgement, but what purpose does it serve to keep ranting about it now after the fact. We get it."
First, HeadlineCharts is a great blog that I visit daily. The charts and analysis are excellent.
Second, will somebody please explain to HeadlineCharts why we need to keep ranting about the bad economy and poor judgment "after the fact". Fight amongst yourselves...
(I'm traveling. Posting will be weak and sporadic, but I will tackle this subject later in detail.)
Posts
11/05/2024 Intra-day Update
1 hour ago
5 comments:
I don't necessarily see it as ranting, or my most recent pet peeve soundbite, "playing the blame game."
First of all, there's tons of criticism of gov't policy and banking regulation dating back years before this crisis, it's not "after the fact" it's more like, "see what happens?"
Second of all, if you can't figure out where the problem is, in other words, who and what to blame, how in the world do you come up with any solutions or evaluation of competing proposals?
(Edited for clarity)
I agree, if anything people are not doing enough. There are failures on so many levels that have both allowed things to get to this point, and which will continue to plague us going forward. Its not just complaining (although we have every right to do so) Its a matter of highlighting and quantifying all of the problem areas...explicitly...painfully...and then using those to move forward. People are still in denial..although i havent heard berneke spouting his the fundementals of the enconomy is sound for a while..he should still loose his job for being so far behind the curve. People still in power literally need to be replaced to move forward. The complainers job is not done yet, the wound still festers..are those with rose colored glasses ready to listen to us complainers yet or do we still need a massive devaluation of the currency first? how much more of your 201k and savings do you want to loose befor e you accept things are serious?
The reason for analyzing after-the fact is to learn from our mistakes.
This financial crisis was caused in no small part by the repeal of laws that were enacted during the great depression in an attempt to prevent another depression from occurring. We had fair warning from many groups saying this could lead to catastrophe, but we went ahead with it anyway. In this case, we did not learn form our mistakes.
Only after analyzing the decisions that brought us into this situation can we understand how to get out of it and enact precautions that will prevent it from happening again.
Ben,
You got Madoffed or punked.
http://headlinecharts.blogspot.com/
vs.
http://headlinecharts.blog.com/
They are not the same!
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