zuptd: (kitten)
[personal profile] zuptd
This article I read from CNN/Wall Street Journal does a reasonable job of explaining some of what's been going on in terms of markets, government reactions, and other factors. They do compare it to the 1930s, but say that at least we have some mitigating institutions this time around....

Date: 2008-09-18 03:04 pm (UTC)
From: [identity profile] daundelyon.livejournal.com
It's interesting that they mention the stimulus checks. From what I've seen, a lot of the people who could have used them the most didn't get them because they didn't have a high enough income and therefore didn't pay enough income tax. I think the purpose has been successfully defeated.

Date: 2008-09-19 11:59 am (UTC)
From: [identity profile] zuptd.livejournal.com
Well, if it was aimed at "middle class" America, it probably hit the mark, however I think the low end earners are probably expected to get by on their Earned Income Tax Credit. It's unfortunate in the sense that everyone is hurting including and especially the lowest wage earners.

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