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Is credit leading to the downfall of society

GREED ON GREED! It has got us into this financial mess - and, the cards may just as well fall where they may!

September 29, 2008 Wasn't it October 29, 1929 the market crashed, signaling a DEPRESSION? That year '29', but the 2 may be replaced by a 0 by January!

Well, I have just heard that the House has rejected the financial package - equivalent to our own stimulus package earlier this year to help the economy. Did it help? I've also just heard that the Stock Market went down 777 points - my predicting a thousand! Not far off! Maybe this is actually good - something has to put a stop to what's happened over 60 years. Nancy Pelosi said it: "Wall Street, the party is over"! Indeed it is! And I'd said it long before Nancy!


We hear possible 'Recession'! Recession? I think the word is - 'Depression'! I've lived many years (nearly 70), been through many Recessions, and never did any of them come about in so serious a manner - banks closing, major financial institutions? We're way past Recession, rolling into Depression! We've not had anything like this happen in America since 1929 - 80 years ago! And it might even end up worse than that, as this is on a much bigger scale than in 1929 - much more at stake! And who said a Depression could never happen again? We may find out, regrettably!

You may not like me saying this: I think America deserves this - maybe not all of its people. Greed at the top, trickling down the ranks begot more greed - even down to our very poor - greed over nearly nothing! We're never satisfied America, never grateful for what we have. 'They' say it's Capitalism, competition - the American way. Well, in some ways that's good, but not when it gets out of hand as it most certainly has - not at all fair to most of the people!

All my life practically, and especially these past couple of decades, I've been bombarded with: "Buy more, spend more, keep up with the Jones, increase sales over last year, make the economy stronger - use your credit cards - borrow, borrow, borrow - pay later. Well, the 'later' is now, and there can be no later than this! We're not paying our debts, haven't been paying - can't pay, many of us! And the reports on the economy have all been bogus - based on promises of payment - the figures as if we'd spent cash already. President Bush has been saying our economy is strong, right up to just the other day when suddenly he said, "Our economy is in deep trouble"! We've been in deep trouble for years! And only now


Below are the top articles rated and ranked by Helium members on:

Is credit leading to the downfall of society

  • 1 of 36

    by Marco Angioni II

    Credit is an important financial tool. Having good credit can help you obtain many important loans (such as car loan... read more

  • 2 of 36

    by Barry Williams

    Credit used properly is a good thing. Without credit I would not now own my house. If I had waited until I had enoug... read more

  • 3 of 36

    by Darrell Miller

    Credit is definately leading to the downfall of society as those who borrow from bankers do not understand that they ... read more

  • 4 of 36

    by Etta Freeland

    The downfall of society has probably already begun - credit is just one of the factors riding along the snowball. Cre... read more

  • 5 of 36

    by Paris S.

    It's been said that capitalism is a beast that feeds upon itself. Several articles posted on this site describe just... read more

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Is credit leading to the downfall of society

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