The little Guys are Going Under

[Manedwolf]

Just like the abundance of evidence that the democrats are to blame for the financial crisis, after being in power for what? About 3 years?

Go google major news sources (and no, Daily Kos does not count!) for terms like "Barney Frank", "community reinvestment act", "Chuck Schumer", "Fannie Mae", "Freddie Mac", "Oversight" and "Obstruction".

You might learn some interesting things!

[Nick1911]

Little guys have always been going under. It's just happening at a faster clip now.

Hey Mike, do you have some numbers that show this?  I can't find anything newer then 2007.  :|

[K Frame]

There aren't solid numbers to back it up, and won't be for quite sometime.

But, reports are from much of the country are that small business bankruptcy filings are up significantly over the last 6 months or so.

That seems to be born out by the number of local small businesses that appear to be folding in my area and also in Central Pennsylvania.

I have no doubt that when solid figures do come in in 18 months or so, it's going to be a very bad time for small businesses.


Oddly enough, though, some small businesses positively thrive in recessionary environments.

[Jamisjockey]

Just like the abundance of evidence that the democrats are to blame for the financial crisis, after being in power for what? About 3 years?

http://www.youtube.com/watch?v=_MGT_cSi7Rs

http://www.youtube.com/watch?v=ivmL-lXNy64

Their own words.  They created the housing bubble.  Idiotic buyers took advantage of the housing bubble and thought that it was their right to buy homes they couldn't afford, or flip homes, or leverage their current homes to the nines.  
Pop.

[RoadKingLarry]

It sucks for those in that position, but without it, we'd still be driving  horses and buggies. (or steam cars, or model T's, or....)

You say that as though it would be a bad thing.  I dream of those days.

All thos good things from the "good ole days"
Typhoid, Polio, Cholera, Diptheria, Tuberculosis, Smallpox, Influenza...


As to the little guys going under, I'd have to wonder how many in the construction trades that are calling it quits have been in business for more than 5-6 years. I know several people that jumped on the bandwagon at the peak of the bubble and are now tanking. I also know several that have been cantractors or carpenters for most of their lives and are still doing a good (though slightly declined) business.
Anyone that buys into a "boom" thinikng it will last forever is not paddleing with both oars.
We saw some of the same stuff with the .com bubble with all the Y2K hype. 1999 saw a huge increase in computer equipment sales, who in their right mind would think that people and businesses would continue to buy new computer equipment at that pace? Same for the housing market, there is only so many people that are going to be able to buy a new house AND be able to pay for it. is the concept of Market Saturation that hard to grasp?

[Seenterman]

You might learn some interesting things!

Seriously you can be a bit less trollish, I just dont have the time required to type out a thesis responce at the moment to show why republicans are equally to blame for a current economic crisis. I will show some quick examples and the greatest thing of all about your post, you provide no proof just words to look up.

Washington — Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.

http://www.springfieldnewssun.com/news/content/oh/story/news/local/2008/10/20/sns102008influencetoo.html

Senator John McCain’s campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.

http://www.nytimes.com/2008/09/22/us/politics/22mccain.html


http://tpmcafe.talkingpointsmemo.com/2008/09/14/republicans_and_the_credit_cri/

As we saw with the crash of Bear Stearns and now Lehman Bros., both firms were leveraged more than 30:1.

When you combine this ridiculous willingness to let broker dealers determine their own leverage with the decision three years later to alter the short selling rules to make it easier to short a stock, you have a recipe for financial chaos. These are both Bush administration SEC moves.

[Jamisjockey]

<gasp>
You mean both sides are guilty of fiscal mismanagement?  Whoda've thunk it?!?

Seriously you can be a bit less trollish

Just like the abundance of evidence that the democrats are to blame for the financial crisis, after being in power for what? About 3 years?

Mr. Pot, meet Mr. Kettle.