Winnipesaukee Forum - View Single Post - Another business at Winnipesaukee is on the block!

LIforrelaxin · 04-13-2010, 10:27 PM

StephenB,

your right I don't know you from Joe, but I know the tatics. And like so many people you want to blame the situation in this country to Oil. It is indeed a good target. And it sure seems that it is one of the major culprits. But that is all a smoke screen.

The problem is not oil it never has been, even in the 70s. The oil embargo and issue back then where a result. The overall cause for the situation the country is in is good ole American Greed. The never ending need for more. Something bigger fancier etc. etc.

How many people that drive fullsize trucks and SUV really need them? Hell I can bearly justify mine, but I can. Especially now that it is paid for. The truth is big SUVs became status symbols.... Bigger vehicles need more gas....

Why do people need second homes on a lake that they don't use anymore then as summer homes. yet they build 3K-5K sq ft home and larger which they need to heat with oil.... once agian oil come into play, but it isn't the culprit.

Whats my point here... Oil lack or surplus of it is not the problem. For goodness sake Gas prices are already coming back down after jumping up a week ago. Greed for bigger and better things is what broke in the economy. People got so caught up in bigger and better that they remortgaged properties, put more money on credit cards then they could afford etc. etc.

All of a sudden things like ARM portions of mortgages came into play for people. There mortgage rates climbed they could cover the change.... Credit card rates went back up, and people could find there way out of debt.

As a result people stopped spending, business stopped earning money... especially business that served "luxury items". Why because the gravy train of borrowing money stopped out people where extended out as far as they could go. The business stopped being able to cover there expenses and ride out storm and start closing. Suddenly we where caught in a cyclone of financial disaster.

Now I will by the comment that Oil was a catalyst, one of many catalyst that has cause and will continue to cause economic downturns and depressions. However it has never and will never be the only cause. The Cause always comes back to greed and financially over extending. Whether it be the government, business, or people.

04-13-2010, 10:27 PM	#31
LIforrelaxin Senior Member Join Date: May 2006 Location: Texas, Lake Ray Hubbard and NH, Long Island Winnipesaukee Posts: 2,871 Thanks: 1,037 Thanked 892 Times in 524 Posts	StephenB, your right I don't know you from Joe, but I know the tatics. And like so many people you want to blame the situation in this country to Oil. It is indeed a good target. And it sure seems that it is one of the major culprits. But that is all a smoke screen. The problem is not oil it never has been, even in the 70s. The oil embargo and issue back then where a result. The overall cause for the situation the country is in is good ole American Greed. The never ending need for more. Something bigger fancier etc. etc. How many people that drive fullsize trucks and SUV really need them? Hell I can bearly justify mine, but I can. Especially now that it is paid for. The truth is big SUVs became status symbols.... Bigger vehicles need more gas.... Why do people need second homes on a lake that they don't use anymore then as summer homes. yet they build 3K-5K sq ft home and larger which they need to heat with oil.... once agian oil come into play, but it isn't the culprit. Whats my point here... Oil lack or surplus of it is not the problem. For goodness sake Gas prices are already coming back down after jumping up a week ago. Greed for bigger and better things is what broke in the economy. People got so caught up in bigger and better that they remortgaged properties, put more money on credit cards then they could afford etc. etc. All of a sudden things like ARM portions of mortgages came into play for people. There mortgage rates climbed they could cover the change.... Credit card rates went back up, and people could find there way out of debt. As a result people stopped spending, business stopped earning money... especially business that served "luxury items". Why because the gravy train of borrowing money stopped out people where extended out as far as they could go. The business stopped being able to cover there expenses and ride out storm and start closing. Suddenly we where caught in a cyclone of financial disaster. Now I will by the comment that Oil was a catalyst, one of many catalyst that has cause and will continue to cause economic downturns and depressions. However it has never and will never be the only cause. The Cause always comes back to greed and financially over extending. Whether it be the government, business, or people. __________________ Life is about how much time you can spend relaxing... I do it on an island that isn't really an island.....