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no common sense · 2008-11-17, 23:13

Quite frankly I think this storm is the best thing that could have happened for my age cohort. If not for the housing crisis the stock market bubble would have burst over a slower period of time a few years from now and left the system set up for an even bigger fall when social security and medicare hit the fan in what would have been around the year 2025. I would have ended up being sacked with huge taxes during my peak earning years. Now it looks like this thing will be big enough to force the entire system to reform and unf*** itself. The current and past generations borrowed too much against the future and the market must correct for this. I just though it would be my generation paying back around the 2025 mark, looks like the boomers borrowed just a bit too much and now they are going to pay for it.
The system will be reformed, regulation and moving money around will be futile efforts at best. Obama really has an opportunity here, if he can resist the urge to allow the corporate income tax rate to rise (if you really want to stick it to the corporations don't complain when jobs start moving overseas as corporations leave the country like rats from a sinking ship) while cutting back spending and instead focus his efforts on reforming the corporate system he would earn a high place among presidents(even though many would initially hate him for it). The corporate system needs to have 100% transparency for all stockholders, a significant percentage of the board of directors needs to have served (or be committed to serve) the company for at least 20 years, and CEO payment needs to be retooled to promote a long term 5-20 year outlook rather than the present day quarterly outlook. The public will need to be reeducated to focus on company dividends rather than stock prices. Social security and medicare will have to be addressed once a high enough pain threshold is reached and the easiest time to do it for a politician will be while everything else is on the table being reformed.
Its the end of the world as we know it, and I feel fine.

2008-11-17, 23:13	Link #646
no common sense Resident Asshole Join Date: Jul 2006 Location: Phoenix Age: 38	Quite frankly I think this storm is the best thing that could have happened for my age cohort. If not for the housing crisis the stock market bubble would have burst over a slower period of time a few years from now and left the system set up for an even bigger fall when social security and medicare hit the fan in what would have been around the year 2025. I would have ended up being sacked with huge taxes during my peak earning years. Now it looks like this thing will be big enough to force the entire system to reform and unf*** itself. The current and past generations borrowed too much against the future and the market must correct for this. I just though it would be my generation paying back around the 2025 mark, looks like the boomers borrowed just a bit too much and now they are going to pay for it. The system will be reformed, regulation and moving money around will be futile efforts at best. Obama really has an opportunity here, if he can resist the urge to allow the corporate income tax rate to rise (if you really want to stick it to the corporations don't complain when jobs start moving overseas as corporations leave the country like rats from a sinking ship) while cutting back spending and instead focus his efforts on reforming the corporate system he would earn a high place among presidents(even though many would initially hate him for it). The corporate system needs to have 100% transparency for all stockholders, a significant percentage of the board of directors needs to have served (or be committed to serve) the company for at least 20 years, and CEO payment needs to be retooled to promote a long term 5-20 year outlook rather than the present day quarterly outlook. The public will need to be reeducated to focus on company dividends rather than stock prices. Social security and medicare will have to be addressed once a high enough pain threshold is reached and the easiest time to do it for a politician will be while everything else is on the table being reformed. Its the end of the world as we know it, and I feel fine.