Are women the cause of our economic crisis?

[MatureDJ]

I've been thinking about the current economic crisis in the USA. It seems that a lot of this can be blamed on women. as their relentless drive to materialism has helped to cause wages to be held low (back in the days when there were only men in the workforce, employers had to pay more), and debt to rise - must have that translucent, highly refractive piece of carbon and the big center-of-attention wedding party, along with the college debt for some degree in something stupid like social work that doesn't pay anything, and of course, the big house in the 'burbs (only the tony one) with the big SUV to commute. Now that everyone has been stretched thin, the rise in commodity prices is pushing a lot of folks over the edge.

I don't know, maybe it's just me, but I've always kept my expenses in line and the 401K on track to be a millionaire by my early 50's. I'm only feeling a little pressure from the gas. An older friend of mine (a Navy pilot) was telling me about the treadmill of life for one of his married comrades, who got suckered into buying into the CA real estate binge, and then got their airline employer's pension cut, and now in retirement, he has to work at Home Depot and moonlight at another place just so he won't lose his house.

 

[ketostix]

I think women are a lot to blame for wages being lower and less job opportunities available to men. But the economic situation I think is to blame for stupid economic policies and even crooked financial activities.

 

[edger]

I've been thinking about the current economic crisis in the USA.

I need to ask, what economic crisis? It seems most people AREN'T struggling, from what I've observed. It appears that most are pretty well off out there. But maybe that also has to do with where I live. Also don't forget too, lots of people like to cry with a loaf under their arm.

 

[Jazz]

Ever consider the fact that the economic crisis could be caused by poor choices made by American companies?

For example, Anheiser-Busch recently sold to a European company called In-Bev. This takes that revenue out of America. Also, the few major automobile companies left in the US aren't catering to what Americans want! People are buying foreign cars and American companies aren't changing their style.

There are so many things that could swing the economy, but Americans don't like change. Did you know that the entire country's electricity could be supplied by the building of only 140 more nuclear power plants? This would also make the average customer's power bill way down.

America will adapt and overcome this current crisis, that's a given. The only question is how horrible will we let things get before we decide that enough is enough and actually change.

Women, though, are not to be blamed for our current economic standing. Things would be just as bad if we were still in an all-male-workers society.

 

[mrRuckus]

All that stuff you listed about women is stuff that men allowed. She can't have a big extravagant wedding or a huge house in the burbs if mr. husband isn't agreeing.




I thought that beer company was "sold" because of a hostile takeover due to a weak u.s. dollar.

What's the plan for nuclear waste from "just" 140 new plants?

 

[Deep Dish]

Unequivocal no.

If anything, a laundry list can be provided of reasons why women are economic stimulus. Rather than leave this discussion in rhetorical bullsh!t, how about somebody cite academic papers from economic experts who blame women on the economic crisis (blogs don't count), and I will cite experts who don't. I wouldn't think there are any credible respectable economic experts who seriously contend women are to blame, and not because of some femme conspiracy but rather because the premise is ridiculous and incorrect.

 

[The Gamer]

So your theory is that because women are more materialistically inclined, that by them spending more money it hurts our economy!?!?!? You sir are a ****ing moron.

Rethink that one and prove me wrong.

 

[The Bat]

We can run full circle and say that it is men who are to blame for the economic crisis because they allowed women to go on endless shopping sprees and getting useless college degrees. But what good would that do?

Playing the blame game on a specific group (i.e. gender) in economic arena is foolish at best. You have to look at the entire system ranging from something small like the mom-and-pops store down the street to something large like the FDIC. Economics is very dynamic...too many variables are at play, intertwining with each other, and influencing each other.

Plus, there is NO economic crisis. You have to realize that your average American is doing 100x better than 90% of the rest of the world.

 

[STR8UP]

The global economy is to blame (think China and India creating new demand for commodities), the war is to blame, PEOPLE are to blame, but remember, economies are cyclical, and we are only in a correction, things will get better.

 

[Don Juanabbe]

I think you're way off base merely blaming women......however, I have noticed the lavish wedding ceremonies that have been going on these past few years - it's outrageous.

The economy is the way it is because of cheap, readily available credit. People don't know how to spend within their means, and truly believe that credit = money, or that credit = wealth. It may make it seem that way, but in reality, credit is nothing more than slavery.

The banks were giving out mortgages like candy, to people who shouldn't have gotten them.

I remember back in the 70s and 80s, growing up, it wasn't uncommon to see heaps being driven on the road, now everyone has a new car, and I'd be willing to bet 99% of them aren't paid for.

 

[Jazz]

I thought that beer company was "sold" because of a hostile takeover due to a weak u.s. dollar.

What's the plan for nuclear waste from "just" 140 new plants?

True, it was a hostile takeover. However, Mr. Busch was the one that sold his shares to In-Bev to gain control.

As for the nuclear waste, have you ever heard of Yucca Mountain? It's a site in the desert of Nevada that will be used for storing spent nuclear fuel and waste. Since I work with nuclear power, I can also tell you that the halflife for nuclear waste is 5.83 years, after which it can be disposed of permanently.

As it stands now, the waste from nuclear power plants is being stored in temporary holding casks at the power facilities. Seems to me that people would want it to go to Yucca Mountain where it's 80 miles from the nearest city.

 

[ElChoclo]

You are doing so well that soon our dollar will be worth more than your dollar. Oh well, could be a chance for downunder to finally get on top.

 

[taiyuu_otoko]

While the global economy continues its soon to be unpresedented melt down, one might wonder whether or not the cause is anything other than partial repercussions from overzealous and unrestrained spending habits gone awry.
Before anyone begins pointing fingers at any particular institution in general, one of the things to consider as a possiblity is the near permanent global dependency on non renewable energy sources.
Various economists who have studied bubble type phenomenom will agree that speculative generalizations no longer be counted on to compensate for the brick and mortar type institutions, which rely on said sources.
Unfortunately, because we have yet to see the concommitant effects of these so called "corrections" it might be prudent to take aggressive action.
It is fanscinating to watch the drama unfold, isn't it?

 

[speakeasy]

Before I address the OP, first off, I cannot believe there are some in here that see no economic crisis. What planet do you folks live on??? Wake the F*CK UP!!! Our entire banking system is a hair away from collapse, and you're fiddling away pretending nothing is wrong? Do you realize all this affluence you may see has been based on borrowing money from other countries against our own future just to gain for today? Are you aware that the value of your money is falling like crazy? That the money you have in the bank is literally worth less due to inflation and the falling dollar and the policies of our Fed that simply prints money out of thin with little reservation destroying the value of our savings? That if foreign central banks start losing confidence in our ability to shore up the dollar, they will quit buying our debt and our economy will collapse? I can't believe how shallow some people are in thinking everything is okay.

Anyway, as for the topic at hand, no I don't think the economic problems can be blamed on either sex, it's the culture we live in that believes in not saving, consumption for its own sake and borrowing against the future to subsidize the spending of today. People starting looking at constantly rising home prices as a natural right and started borrowing against their homes to fuel consumption, and when the housing bubble collapsed as I saw coming years ago, all this new wealth based on real estate was shown to be based on nothing, and now we're experiencing the hangover with the financial system in a state of collapse unless the government sticks 700 billion to the taxpayer. Of course it'll probably be much more than that, we don't really know. Just like the same people tried to estimate how much the war in Iraq was going to cost, and well...I don't have to tell you how they grossly underestimated that, do I?

 

[Perfect10]

Plus, there is NO economic crisis. You have to realize that your average American is doing 100x better than 90% of the rest of the world.

Say what? Huh?
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita

 

[MikeEdward1973]

GDP growth last quarter was 2.8%, which isn't bad. Unemployment is about 6.1%, which, historically, is reasonably good. Inflation is about 2.5%. And these numbers are actually slightly stronger than what we're seeing in Europe.

It's going to be 6 months before we know what the full effect of the collapse of the investment banks on Wall Street is. I worked there for 5 years, and can tell you first hand they're a pretty resilient group of people. Wall Street, like Silicon Valley, has reinvented itself time and again.

We've heard that the world is ending many times. After the Asian currency crises in 1997, after the dot com bust in 2000, after Sept 11 in 2001 most recently.

My guess is we have a relatively soft landing, with 2 quarters of slow growth, maybe one of them negative.

To the original poster's point, this current crises is everyone's fault, in my opinion. Men and women alike bought mortgages they were not qualified for, and both men and women sold them those mortgages. Bad decisions were made by the borrows and lenders, of all ages, races, religions, and genders. There is a lot of blame to go around.

 

[MikeEdward1973]

Ever consider the fact that the economic crisis could be caused by poor choices made by American companies?

For example, Anheiser-Busch recently sold to a European company called In-Bev. This takes that revenue out of America.

US subsidiaries of foreign corporation do pay US taxes. Foreign investment is generally considered very positive, and is the only way to keep our current trade deficit in check.

 

[Hooligan Harry]

Nah nah.

Chaps, this is the squarely the fault of men. Financial services are dominated by men. Women make **** investment bankers. Bad investment choices and over gearing has led to the problem. You have had complex investment products that exploited loopholes in the financial system which has suffered tremendous abuse.

While women may spend a lot on credit we are the mother****ers that set up the volatile system in the first place. Women cant be blamed for this anymore then the common man on the street can.

People do need to be indicted for this **** though. The banks are not the issue lads its the large insurance companies. A bank or two going bust is not meltdown. One or two big insurance companies going will be. They insured massive amounts of debt. Over $60 trillion. It makes sub prime look like a dolly. Sub Prime debt was used for the credit swaps.

People have been *****ing about it for ages and even BUffett said it was a ticking time bomb.

Here is an article if you are interested in it

http://www.time.com/time/business/article/0,8599,1723152,00.html

 

[speakeasy]

GDP growth last quarter was 2.8%, which isn't bad.

Dig deeper bro, GDP doesn't tell you anything about how the average person is getting by. Most the growth in wealth has been at the top echelon. The economy is expanding so they say, yet we're bleeding jobs and per capita incomes(except for the wealthy) have actually gone backwards when adjusted for inflation. On top of that, the nation has a negative savings rate, meaning we spend more money than we actually make, thanks to easy lending, which is now drying up due to the band crisis. So where does that leave us exactly?

Unemployment is about 6.1%, which, historically, is reasonably good.

That's another one of those things that can be skewed. That's the national average, here in California, the rate is 7.7% which is pretty bad. Plus what happens is when people give up looking for work because they simply can't find a job(like my father), they are not included in the statistics. It also doesn't tell you how many people are underemployed. People who are just taking any job they can even if their skills are way above the job they're working. I know college grads doing secretarial work.

Inflation is about 2.5%. And these numbers are actually slightly stronger than what we're seeing in Europe.

Hahahahahaha. Dude, official inflation figures are the most bogus piece of crap the government puts out. Anyone with a pulse knows that prices for things have been going up at more than 2.5% a year. Anyone that has to fill up their tank, buy groceries, pay health care, rent, college tuition, and other necessities of life knows prices are up WAY more than 2.5%. The thing is, look at how they computer GDP, they basically leave out anything they consider "volatile". So these phoney GDP numbers, it's like saying, as long as you exclude everything that's going up in price, inflation is no problem. Reminds me of former D.C. mayor Marion Barry's famouse quote that when you leave out the murder rate, D.C.'s crime is pretty low. Just google up "understated inflation" and you'll see what I'm talking about. Or better yet, go on youtube and do a search for "Ron Paul + inflation", he breaks it down better than anyone.

We've heard that the world is ending many times. After the Asian currency crises in 1997, after the dot com bust in 2000, after Sept 11 in 2001 most recently.

I think we'll be fine in the long run, but we've got some serious problems in the immediate future. It seems like our government has made it the de facto policy that flooding the economy with cash is the way out of every problem. Sure, if might be a temporary bandaid, but you end up wiping out the savings of people with inflation who have spent a life time building their nest egg.

 

[MikeEdward1973]

I avoid flame wars on this sort of thing, but safe to say we agree to disagree. I'm well aware of how the components of GDP and inflation are assembled, I do have an MBA from what's generally regarded as an excellent business school. I spent 5 years trading discretionary accounts on behalf of British and Dutch investors in NYC.

I will tell you that I don't believe anything Ron Paul says. I think he's a major-league racist, the latest version of David Duke. I think he knew every single word written in his newsletters, and that the reported meetings between his people and Don Black's associates of Stormfront (the neo-nazi website) are accurate. And I'm pretty sure he knew who he was when they took pictures of him with Black and Black's son.