What percentage of blame do we as Americans?

Question

have to bear for or present state of the economy? rank in percentage and why.

Answer 1

None - it is globalization taking us to third world status.

Answer 2

All of it,

this is a long term result of the failed SEC that caused the negative down turn in the Stock market.

The SEC and employees I.E. witness's said they were not allowd to do their jobs,  that was under Clinton, so the stock market cooked the Books.

So the Fed lowered rates and then the banking industry loaned money to people using ARM's loans at a low entry rate and then when rates went up they starting losing their houses.

And not 1 American stood up and said hey we've been played.

Answer 3

We all have  to take the blame.  Big oil is raping us and we just go along with it.  It is causing h**l for the normal working person.  We need to go only when necessary and just see if it is really a supply and demand issue.  I think not.   This past summer there were a lot fewer boats on the lakes, our two major tourist towns in the area took a major hit, and there is less traffic on the highways.  Yet we still pay 3 dollars a gallon.  People that got a mortgage didn't factor in gas prices doubling, dragging the prices of all goods up with it.  We need to get a grip.  Prices go up for a THREAT of a hurricane. Gas goes up due to working on refineries, which of course took longer than expected.  Oil goes up because a woman gets assassinated or, OPEC just doesn't want to produce what they can, causing a fake shortage.  Any excuse.

Answer 4

49%.  The politicians definitely need to be held accountable for their spending practices, and this constant budget deficit is the number one reason for our crappy economy.  Having said that, however, the vast majority of Americans do not live within their means, put way too much on credit, and then complain about the cost of living.  Um, excuse me, but what ever happened to going out and EARNING a living?  Before your grouse about how little you're getting paid, what have you done to deserve a larger salary?  Sorry, showing up for work on time and doing your job are the minimum expectations, and so many Americans expect (and flat-out demand) to be handed top-dollar for jobs that require little or no education, experience, or special job skills.  And do I need to mention the fact that there are lots of jobs available that your average American will turn his/her nose up at?  This is why businesses are moving operations to other countries.  They're tired of dealing with spoiled, whiny-@$$ed Americans who give very little and expect a lot.  Until John and Jane Q. Public wake up and realize this, our economy is going to get worse.  Maybe a depression will wake us up...

Answer 5

Well since my personal economy is doing very well and it is mostly a result of hard work on my part, I will take all the blame. Only I don't call it blame, I refer to it as success.

The economy is almost never as good as the politicians claim and conversely it is almost never as bad as the media portrays. The economy is basically a living breathing entity with numerous factors involved in it's makeup. People can effect the economy in several ways, the most prevalent being consumer confidence. The truth for most of us though is that we judge the economy based on how our lives and those in our immediate circle are going at the time.

Answer 6

I think that we put a lot of trust into the housing market and a lot of people did not read the fine print ( or failed to ask) if there were teaser rates in their home loans before they bought a house. I don't really think it's much of Amercia's fault. I blame it more on the lending companies for having shady lending practices. I would say at most 10% our fault.

Answer 7

I believe that it is fully the responsibility of the individual who over extended him/herself to begin with.  I knew we were heading in the wrong direction when people started to get interest only housing loans and still barely able to survive.  I love watching people driving lexus cars and buying ramien noodles to eat.  I admit, that I have had in the past trouble with money and I am still struggling today, but I keep my lifestyle to my income or below.

Do not get me wrong, when they opened up lending to anyone and started to go by how well you manage debt did not help the issue at all.

Answer 8

I have to agree with the first answer.  Going in to debt - way beyond our means seems to be an American pastime, and the lenders make it pretty easy to get in way over our heads.

College kids are given credit cards, student loans, etc., and end up being hopelessly in debt upon graduation.  There needs to be more protection against this "graft" and better programs to help more go to school and buy homes - with less dire consquences.  Banks are earning more money than ever before - and I don't think it's because they're so charitable.

Answer 9

All for not using Solar Power to boost economy. Solar Power and electricity good sources of money. 100 Percent to blame though not exactly question still is true.