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This is how to save the economy

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posted on Sep, 20 2011 @ 04:14 AM
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i lived in kilgore texas as a child.haliburton and delta drilling had their headquarters there.we had a working population of 50000 and a living population of 12000.in the 80s the oil crash happened.the big corps moved and everybody else went bankrupt.the way kilgore got out of the slump was twofold.first of all the assets were auctioned off cheap.rockbottom prices.i watched brandnew million dollar drill rigs go for one hundrded thousand.homes sold cheap too.who lost? bankers.this got remodelers working again.home sales became steady again.new construction came back.they also diversified into manufacturing but thats not what i want to talk about .there is nothing we can do about that right now.let the big banks and all mortgage lenders fail.let the chips fall where they may.its the rich bank shareholders that can take the hit.this would get the markets rolling again and get the youth back to work.if we dont break free from this mortgage mess.it will drag us down even more than we already are.this is the only option available that i can come up with.the time is now.
edit on 20-9-2011 by Gemwolf because: Removed all caps from title




posted on Sep, 20 2011 @ 04:18 AM
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reply to post by robomont
 


I do agree that you have to adapt to the times around you.

Can you also adapt your post into a couple paragraphs as well with spacing between the sentences? That was a painful read.



posted on Sep, 20 2011 @ 04:26 AM
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ok so you've figured out how to save the economy.. now you just need to figure out how the caps lock button works.. (paragraphs also help too)



posted on Sep, 20 2011 @ 05:18 AM
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reply to post by robomont
 


I lived in the Kilgore/Longview area in the 80's, graduated from Kilgore College...
back then, at least in my opinion, the whole economy revolved around the oil.....we weren';t on good terms with most of the middle east and their oil was rather expensive, so it was cheaper to drill here...but when reagan came into office, well, he settled the iran hostage crisis, and the cost of the oil went down..
which was bad news to tx, .....as well as all those people from other states who were told to go to texas, there's jobs in texas!!! well, many of them came just in time to see the jobs disentergrate in front of their eyes....
after that, tx learned the value of having more than one market running their economic engine....

there is a similarity between then and now....oil ran the tx economy then....
it was banking, finance, cheap home loans with crappy, will never be able to pay back loans, terms, that has been the engine that was running the current economy for a decade or so, before it blew up....



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