Robert Scoble
Depression and fear.
Economics. That is what caused this post. - Robert Scoble
why? :( - Mil∂d
Can be cured with pills. - Scoble, Alex Scoble
Cause our economy is screwed and I fear our political system isn't good enough to deal with it. - Robert Scoble
Because of the shower pictures? -
Better yet I don't think WE are good enough to deal with it. - Robert Scoble
Move to the next stage... anger. - Lindsay
It's not up to politicians to get us out of this. They only know how to throw more money at problems, which in this case will prove to be less and less effective the more they do it. - Morton Fox
JMS no the shower pictures are my answer to the FriendFeed memes. The economy is screwed because if the banks don't get bailed out all legitimate credit stops and that will put millions out of work. Yet I see message after message about stopping the bailout. That depresses me and makes me fearful. - Robert Scoble
Ah! It's definitely very troubling. There is no easy fix for this situation though. Part of the problem with the bailout though is it doesn't require the banks to really take responsibility for their part. Yet, that doesn't mean that it's inappropriate to bail them out when you look at the bigger picture. Admittedly, I'm not nearly intelligent enough to offer great insight into this. -
beer. problem solved. - Capn' One Eye - adrift
The fear of a depression. - AJ Kohn
Robert - Question... Even with the bailout there will be many jobs lost. We have the opportunity to use that money to create other jobs instead. I've seen some proposals for this but can't find the links now. Do you really think there will be any fewer jobs lost with the bailout than without it? The economy is impacted either way. - Lindsay
it'll all work out. don't worry too much about it. Spend some time with your kids. Take some pictures. Go do something that's free. Stress about things we have no control over does nothing. - Thomas Hawk
+1 Thomas. Bravos! - Dave Martin
A lot of people are talking about martial law & now the US Army has been deployed for US related crowd control!” - Andrew Baron
who is for the bail out? - Caleb Easterwood
it has to be done, but it should a loan that eventually needs to be paid back. and there needs to be strict oversight and restrictions on exec pay - cjmart
@Andrew - These are scary times. - Lindsay
I hate to make this point too, but this goes back to my Y2k fears I had, thinking any terrorist like Bin Laden, etc. might take advantage of a potentially weak moment. I.E. anyone who has been patiently awaiting to attack might find it much more effective to hit the US while its down. The last thing we need is to start spending more $ on blowing up dirt in other countries as a response. - Andrew Baron
Lindsay: how do most people buy cars? Credit. How do most businesses expand? Credit. If our banks stop offering credit we will all be jobless. There are no "alternatives." - Robert Scoble
Scare tactics, whilst all this is going on they are likely slipping through changes and laws which are being ignored due to the panic over the economy. People need to just remain calm, drama will just lead to more drama! - Joe Dawson
@Robert and from where credit comes? start saving -- your nation hasn't been saving for ages, only spending and wasting... start now - you need only 10% of monthly income to put aside, and you CAN live without car, just change lifestyle. - A. T.
A big reason why we are in this mess is from people buying things they can't afford. A lot of people do need to use credit to buy houses, cars, etc. but far many more have been abusing credit to portray themselves as rich, live a lifestyle they can't afford, etc. It shouldn't be so important to 'pretend' to be rich but it's kind of not a surprise when the past five years or so of media has been focused on affluence, waste, etc. The mess happens when you can't pay it. - Patricia
Capn: alcohol is a depressant. Thomas: funny, at Library of Congress I looked through a bunch of Depression-era photos. That is one thing I hope we don't have to document. - Robert Scoble
+1 Silpol - agreed on many points. however, it's not as easy as you think to live without a car in the US, unless you have mass transportation accessible (many don't). - cjmart
“What matters most is how well you walk through the fire.” --Charles Bukowski - Bill Koslosky, MD
cjmart: there is no way I could live without a car. Absolutely no way. Stores are too far for biking. My entire job requires visiting software companies, most of whom are 45 minute drive from my house or more. There is no public transportation of note in Half Moon Bay, either. - Robert Scoble
wait i dont "like" either wheres that unlike button for life - sean percival
agreed robert. another factor in St.Louis is that we have an actual winter season here. can't live w/o a car for sure. and the mass transit is woefully inadequate - cjmart
"Courage is grace under pressure." --Ernest Hemingway - Bill Koslosky, MD
Patricia: that is true. A couple of friends bought their houses, though, back when they COULD afford them. Then they got into circumstances that changed all that (one had a severely handicapped child, so the mother couldn't work anymore, for instance, which cut their incomes way down). - Robert Scoble
@Patricia: +1. Savings in America is in the *negative*. Consumer revolving debt is near 1 *trillion* with a T. You don't need a new car every other year. You don't need a big screen TV and yes ... you really don't need a new iPhone [edit] (Robert might because it's job related but you get my drift.). Also, what if the government employed the potential mass of unemployed to rebuild our infrastructure including mass transit? - AJ Kohn
I do love FriendFeed, though. Intelligent people and interesting conversation. Look at all this started with two words! - Robert Scoble
we definitely live in a culture of consumption/consumerism. that's no secret. - cjmart
Lots going on in this great thread: For now, I will say that I am for A bailout, just not the $700 billion bailout with no strings attached that Sec'y. Paulson proposed. Smarter financial minds than mine will have to figure out the right strings to make it work and make it fair (or more fair, at least), but just throwing money at it doesn't make sense. - Steve Lowe
Here is a little info on the negotiations on the bail out deal. It is from a conservative point of view, but it is some info. - Caleb Easterwood
@cjmart I live in Helsinki area, Finland -- do you think we do not have winter here? :) and yes, we have very good public transport in capital area, but my bus ride takes me one way about same 45 min and 83 EUR/month (gasoline is not cheap here either), so I do think about bike -- I see positive side in getting rid of 20 kg overweight ;) - A. T.
Pictures of my Grandma living in a tent as a child during the great depression come to mind - Jesse Stay
@robert, etc., honestly, if you think about it, the media trend for the past 8 years has been all about bling - celebrities with gobs of money flashing it, shows about the rich, etc. - it doesn't surprise me at all to see our society trying to emmulate it. Just the other day, the girl giving me a facial talked about how she feels pressured to live beyond her means because it seems like everybody's rich. I think a lot of this is in part because wealth has been a marketing trend. I know some people are in their situations because they thought things would be okay, and you can't fault them. But, success is heavily defined by the flaunting of wealth. If anybody should be bailing us out it should be Us Weekly, etc. :) - Patricia
steplow: I'm all for a smart bailout, yes. AJ: you think most people are qualified to build things? I don't. I'm not. I don't know how to pour concrete, lay rails, hang electricification wires, or stuff like that. I could be taught, yes, but that seems pretty silly way to get jobs going. As far as not needing an iPhone, remember where those are designed and marketed. Near my home. So, you saying you want Silicon Valley to get laid off? Lots of our jobs depend on a consumerist society. - Robert Scoble
@robert, totally agree - a huge part of our world relies on consumerist society. If people want that torn down, they need to have a new model in place. Meanwhile, the ticket to life is the same as owning a business: keep your overhead low, your expenses limited or at the least, flexible, and focus on making money. Modest living is totally underrated :) - Patricia
Patricia: I agree. One of the most corrosive things about our culture and media has been our infatuation with celebrity and sports. The fact that we pay way too much attention to those things and not enough to more boring topics is why we have hired politicans who don't do their jobs and why we now are flailing to provide answers. - Robert Scoble
@Robert: Well, I'm not saying it's perfect, but the WPA was pretty successful. And I *do* believe people could do a good job. I'm bullish on the American worker as corny as that sounds. I'm not saying *no one* should buy an iPhone, but the numbers should be less. And industry protectionism doesn't seem sound. Many of my dot com colleagues fled during the crash and found work elsewhere, I was unemployed for 11 months, took a job in my old profession for two years. You make due. - AJ Kohn
there's an opposite and balancing effect here too, along the lines of enthusiasm for building a more foundational and value-backed economy and having the courage to do so. some are definitely seeing an opportunity here for positive long-term growth, now that short-term over-inflated securities are out of the way. - Akshay Kapur
Robert, totally true. The thing is, humans by design will 'attach' to whatever is regularly put in front of them, it doesn't matter what it is. Right now, a huge part of what is put in front of society is driven by big entertainment, media, etc. who use the media to make money off that attachment. The marketing trends in that category have been rich, wealth, waste, stupidity, etc. It isn't a surprise that our priorities as a society are therefore out of whack. We are what we have been eating, in a sense. :) - Patricia
This could be the next trend in blogging, or at least starting with 2-3 words and getting as many great comments from your community as possible. It sure beats wondering what to blog about and being intimidated by thinking you have to write something insightful that no one else has written. Using only a few words really gets to the heart of a matter. - Cathryn Hrudicka
just remember, happiness is just a multi-national pharmaceutical company away ;-) - Duncan Riley
Bacon & Eggs. - Jeff P. Henderson
Did fear create the depression, or the depression created the fear. Anyhow, be fearless and do your work. There seems no reason not to do hard work, as it always get paid. - Jayavasanthan J