Scenes From the Recession - The Big Picture - Boston

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90 comments March 18, 2009 Email to a friend PermalinkhareThis


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Scenes from the recessionhe state of our global economy: foreclosures, evictions, bankruptcies, layoffs, abandoned projects, and the peoplend industries caught in the middle. It can be difficult to capture financial pressures in photographs, but here a few

ecent glimpses into some of the places and lives affected by what some are calling the "Great Recession". (edit: Afteeading some comments about this on Boing Boing , I was able to track down the location of the newspaper boxes inhoto #30 . The boxes belong to the San Francisco Chronicle , who I called and confirmed that the boxes had beenemoved per city rules, not due to recession. The photo came across the wire with the caption below, the contextual rror was mine. ) (35 photos total )


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otel property manager Paul Martinez kicks in a tenant's door after no one answered the knock during an eviction February 26, 2009 i

olorado Springs, Colorado. The tenant said that he was laid off from his job in a retail store two months ago and had fallen behind on

is rent payments at the low-budget hotel. (John Moore/Getty Images)


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heriff's Deputy Bill Ewell searches an apartment before an eviction team removed the remaining furniture February 26, 2009 inolorado Springs, Colorado. The tenants, who had not paid the rent the previous month, had already left the apartment ahead of theviction. (John Moore/Getty Images) #


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torm clouds hover near unfinished home lots during a break between storms after the dwindling new home sales market broughtonstruction to a halt at a new home development December 16, 2008 in Rancho Cucamonga, California. Home construction took itsiggest dive in 24 years in November to reach a record low. (David McNew/Getty Images) #


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undreds of people stand in line as they look for jobs at the Miami Dade College Mega Job Fair 2009 on March 4, 2009 in North Miamilorida. Job fairs are swamped with applicants as the economy continues to tank and many people find themselves unemployed. (Joeaedle/Getty Images) #


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housands of job-seekers flock to a job fair in Hefei, Anhui province, China on March 1, 2009. At least 20 million of China's 130 millionigrant workers have become jobless after tens of thousands of labor-intensive export-oriented factories closed due to the global

inancial crisis, and job training schemes for migrant workers are springing up around China, Xinhua News Agency reported.REUTERS/Jianan Yu) #


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sign informing readers that Fremont Pontiac GMC is permanently closed is seen on a door at the Newark, Calif. dealership, Tuesdayarch 3, 2009. The dealership closed due to economic conditions earlier this year. (AP Photo/Paul Sakuma) #


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construction site is seen in Almaty, Kazakhstan on January 27, 2009. Dozens of projects in the construction industry have come to a

tandstill due to a deepening financial crisis. Kazakhstan expects economic growth to stall further this year as major industries rangingrom construction to energy and banking experience lack of financing due to tighter credit conditions. (REUTERS/Shamil Zhumatov) #


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stopped construction site is seen behind an older two-family house occupied by only one family in Almaty, Kazakhstan on March 4,

009. (REUTERS/Shamil Zhumatov) #


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RE/MAX Central bus advertises tours of foreclosed homes March 7, 2009 in Las Vegas, Nevada. The real estate group began giving

ours for prospective buyers three times a week in February 2008, in an effort to clear inventory of foreclosed properties. They haveeen a steady decrease in foreclosure listings since the summer of 2008 in the Las Vegas area. (Ethan Miller/Getty Images) #


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0eople attend the REDC Foreclosure Home Auction in New York, in this photo taken March 8, 2009. About 1,400 people crowded intoew York's first foreclosure auction over the weekend. One family bought a 2,062-square foot home in the Finger Lakes region of pstate New York for just $12, 500 or $6 per square foot, according to the New York Post. (REUTERS/Shannon Stapleton) #


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1he Magen Abraham Synagogue sits at center of this photograph taken on Wednesday, Nov. 12, 2008, surrounded by the gleamingew skyscrapers in Wadi Abou Jmil, Lebanon - formerly Beirut's main Jewish neighborhood. One of Lebanon's sole remainingynagogues, this building was set for a restoration that has the rare blessing of all the factions in this divided country - but the globalinancial crisis has scuttled the effort for now, leaving the Magen Abraham chained, padlocked, badly damaged and overgrown witheeds. (AP Photo/Grace Kassab) #


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2s new home sales and housing starts hit record lows, empty lots, partially constructed homes and abandoned ones are seen in aubdivision on January 30, 2009 near Homestead, Florida. Prices in November of 2008 declined 8.7 percent from a year earlier, theiggest drop in records going back to 1991, the Federal Housing Finance Agency reported. (Joe Raedle/Getty Images) #


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3n empty house lot is seen through the windows of a home where construction work has stopped January 22, 2009 in Miami, Florida.onstruction of new homes and apartments fell 15.5 percent last month to an annual rate of 550,000 units. (Joe Raedle/Getty Images)


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4housands of unemployed Chinese graduates flock to a job fair in Wuhan, central China's Hubei province on March 7, 2009. Chinaowed to help train one million graduates in the next three years to boost their qualifications, and promised loans to business that hireraduates, as unemployment continues to grow. (STR/AFP/Getty Images) #


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5rittney Nance holds her head as she works on her laptop in her motel room at the Old Town Inn March 5, 2009 in West Sacramento,alifornia. Brittney and her family were evicted from the house they were renting after her husband, Steve Nance, lost his job. Theouple and their three children are living in a budget motel while they save enough money for deposit on a new rental home, but are

inding it difficult as they pay nearly $1200 a month for the motel room. (Justin Sullivan/Getty Images) #


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6rittney Nance and her children Henry, 5, and Izabella, 7, walk through the parking lot of their hotel on the way to the grocery storearch 5, 2009 in West Sacramento, California. All five family members live in a small studio sized room with most of their belongings.

Justin Sullivan/Getty Images) #


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7odge SUVs sit parked in the Atlantic Marine Terminal at the port of Baltimore February 18, 2009 in Baltimore, Maryland. As the


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orldwide economic downturn persists and automobile sales continue to slow, more than 57,000 new automobiles sit idle in the port of aryland. The state of Maryland recently paid $5.26 million for almost 15 acres of additional car storage space near the port, freeing

pace for more cargo. (Chip Somodevilla/Getty Images) #


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8general view shows a halted construction of a highway called "Lulin" near capital Sofia, Bulgaria November 26, 2008. The highway is

acing serious delay due to lack of funding, according to local media. (OLEG POPOV/Reuters) #


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9eople walk in a residential district dotted with unfinished apartment buildings in Kiev December 24, 2008. Dozens of unfinisheduildings populate the Kiev skyline, their abandoned hulks embodying the damage that the world's financial crisis has inflicted onkraine. (REUTERS/Gleb Garanich) #


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0nfinished homes in a subdivision in Maricopa, Arizona are seen through yellow caution tape and fencing set up to prevent trespassinebruary 25, 2009. Maricopa was one of the fastest growing towns in America until vast unemployment and the real estate bust swept

hrough the country. Now, approximately 75 percent of residents owe more money on their mortgages than their homes are actually

orth. Some developers are left to leave new homes unbuilt due to the slow economy. (Joshua Lott/Getty Images) #


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1aid-off workers from the Longbin Distillery in Harbin, the capital of northeast China's Heilongjiang province, stage a sit-in as securityuards surround them at the offices of the China Resources Holdings Company in Beijing Wednesday, March 18, 2009. The workersre demanding insurance and retirement benefits they say were lost when their distillery became a subsidiary of China Resources in

007. (AP Photo/Andy Wong) #


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2hoppers walk through a nearly empty aisle at a Circuit City store in Las Vegas, Friday, Feb. 27, 2009. Circuit City filed for Chapter 11ankruptcy protection in November as it faced pressure from vendors, heightened competition and waning consumer spending. Later itnnounced it would liquidate its 567 U.S. stores, cutting more than 34,000 jobs. (AP Photo/Jae C. Hong) #


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3n abandoned building construction site is seen in Warsaw March 5, 2009. Polish analysts are wondering if the global financial crisisould pull real estate prices down in Poland as well. (REUTERS/Vasily Fedosenko) #


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4padlocked chain holds the door shut on a foreclosed duplex as pedestrians walk by Friday, March 6, 2009 in the Bronx, N.Y.

oreclosures are spreading by epidemic proportions, expanding beyond a handful of problem states and now affecting almost one invery eight American homeowners. (AP Photo/Julie Jacobson) #


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6section of the Rocky Mountain News newsroom sits empty on February 27, 2009 in Denver, Colorado. The edition on Friday the 27tas the last one for the nearly 150-year-old daily, Colorado's oldest newspaper. The owner E.W. Scripps Co. announced the dayefore that the paper was closing down after efforts to sell the money-losing newspaper failed. (John Moore/Getty Images) #


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7home construction site stands idle where construction has been halted, on February 24, 2009 near Riverside, California. U.S. single

amily homes prices continued to plummet for the second year, falling 8 percent in the fourth quarter of 2008 compared to the year efore. It was the biggest decline in the 21-year history of the Standard & Poors/Case-Shiller US national home price index. (David

cNew/Getty Images) #


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0nused newspaper racks clutter a storage yard in San Francisco, California on Friday, March 13, 2009. (AP Photo/Noah Berger) (edit:ee edit note at top, these unused boxes were removed per city rules, not due to economic pressure ) #


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1atie Kupferschmid (left) and Lisa Arata test gold jewelry at a gold party March 12, 2009 in West Orange, New Jersey. Gold parties ar growing trend in the United States where a hostess invites friends and family to bring their unwanted gold to sell for extra income. Th

rice is based on karat content, weight and the market price of gold that day. (Daniel Barry/Getty Images) #


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2homeless resident of a tent city in Sacramento, California wears an American flag jacket on March 10, 2009. This tent city of the

omeless is seeing an increase in population as the economy worsens, as more people join the ranks of the unemployed and asomes slip into foreclosure. (Justin Sullivan/Getty Images) #


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3onstruction is stopped on the Seneca Casino in Buffalo, N.Y., Monday, Nov. 24, 2008. With the state a signature away from collectin

ax from tribal cigarette sales and a mega casino project mothballed because of economic and legal challenges, even by a former arrior nation's standards there are tough battles ahead. (AP Photo/David Duprey) #


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4nused freight containers are seen piled up at storage depots near a residential area in northwest Hong Kong February 18, 2009.hina's hopes for a speedy export recovery from the global crisis could be undermined by the weakest links in its powerful supply chaismaller firms too damaged by the downturn and credit crisis to get goods to market. (REUTERS/Bobby Yip) #


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5wildflower blooms at an idle home construction site where construction has been halted, on February 24, 2009 near Riverside,alifornia. The January median sales price for Southern California homes fell 40 percent from the same month a year prior and Losngeles-area home prices ended 2008 down 37 percent from a late 2006 peak. (David McNew/Getty Images) #

ORE LINKS AND INFORMATIONife on the brink - Waves of shutdowns, layoffs overwhelm Fall River, MA - Boston.com 3/18

n Florida, Despair and Foreclosures - NYTimes.com 2/7orld Bank Lowers China Forecast - NYTimes.com 3/18

ear-over-year change in home prices - NYTimes interactive graph from December 2008aby Boomers "Under Water" - NYTimes.com , 3/14Back to front page

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isplaying Only The Last 100 Comments. You Can Read All 590 Comments Over Here.

9197, your comeuppance is coming - much as you would like to believe it Europe doesn't stand alone. You think the saudi's

ave any interest in saving your "society". Welcome to the Wahabist University of Paris (ex-Sorbonne)etter Learn Arabic and Farsi - they don't have to swim to get to you!97.Dear 271, I am not european but I do fluently speak French and Italian, and as such have lived parts of my life in Europeor quite a bit. I also travel monthly to every corner of the USA and know your country very well. I think I can safely say thauropeans don't give a rat's ?ss if you go there on vacation.... They don't have bud light anyways out there and the cars areeally small, in fact, they ride bikes and eat well so you may want to think again.hat being said, no offense, but the uropean union doesn't actually need you anymore. The US dollar barrel is the only reaso


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he US dollar is still afloat. Its you and the saudis baby, hand in hand...osted by lepere March 20, 09 08:09 AMosted by Anonymous March 23, 2009 11:12 AM

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his is only the beginning, we've got a lot further to go down, then it could go sidewards for a decade. It will get really nasthen people start going hungry.ot God, Grub, Guns & Gold? Panic Early, Beat the Rush!osted by Shane March 23, 2009 01:15 PM

93anic, panic, and more panic... Take a minute to take a deep breath. (You still have access to the web, you can't be hurting thad.) This is going to get hard, but keep your head people. Knuckle down and put your big kid panties on. Where there's a where's a way. YOU CAN AND Will GET THROUGH THIS. Who cares where the blame lays provided it/they/them don't stn the way of a decent solution? Watch out for your neighbors, pray to your god, protect your own but don't go out of your wo provoke violence, laugh often and look for the opportunity in the loss. Live within your means and provide basic financialasses in schools to prevent this from happening again.esperate times can make or break you. They can develop your spirit and character or destroy them. Prepare yourself ccordingly, this is your sign

osted by Bobbi March 23, 2009 02:48 PM

94feel sorry for anyone who has lost their livelyhood. We in Canada seem to have faired a bit better. G-d bless us all.osted by Pearl Gertzbein March 23, 2009 02:58 PM

95e have not had free markets!! Capitalism is not to blame. How can the markets be free with floating currencies, with a priv


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ntity having the sole control over the money supply? This is a huge conflict of interest and it starts there.osted by Kenny March 23, 2009 03:21 PM

96hy is the property manager kicking down the door in the first photo. Shouldn't he have a key?

osted by carl carlson March 23, 2009 06:23 PM

97ocialism is not the answer. Capitalism in America may, or may not, depending on which comment above you follow, haveailed us, but now is not the time to become Socialist. One thing I recently had explained to me was that most Americans tryo live beyond their means. (I know someone will say I'm wrong, but this is my opinion.) They buy new cars often, have maines of credit, and (in the past couple of years) buy large houses with many more rooms than they actually need, especially ince the average American family size has fewer than two kids. Who needs a massive two story house with 5 bedrooms if nne lives in them? I come from a family of six kids and parents who believe in spending according to their means. This meanhat cars are driven until fixing them costs too much, and of course are bought USED. The house we have is utilitarian in siznd no, we don't have two stories. Why did people buy homes that were so big when they knew they couldn't afford them? Isoolishness, or was it their expression of the "American Dream"?osted by Yosef March 23, 2009 08:41 PM

98icture #32 is just another "Bushville". They're sprouting up all over America as yet another symbol of Bush's failed legacy.ot unlike his inept response to Katrina.always say "Rush might be the new face of the Republican party, but George W. Bush will always be their a$$hole."osted by Harry R. Sohl March 23, 2009 10:22 PM

99E ARE F*CKED !!! THE WORLD IS COMING TO AN END ANYWAY... SO WHY STRESS ON A HOUSE NOTE... Y

HOULD BE PAYING MORE TIME AND ATTENTION TO YOUR KIDS...ASSES


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ho can afford home witch cost 500 000 dollars , those who works still made usually 40 000 to 70 000 a year , can they pay000 or 3000 a month for 500 000 house (to build by builder cost about half rest is profit for blood suckers). Yeah buy GMars , buy house , shop everyday, invest in stocks , pay bills , pretend every thing is ok . (JOKE !osted by BEBE March 25, 2009 12:03 AM

05e have to be religious to spend out of what we really have. It is all due to the habit of spending the money yet to be in our

ands.osted by Abdul Karim March 25, 2009 01:29 AM

06REATosted by Jazzy Jazz March 25, 2009 02:49 AM

07here is no doubt that both automation and computer use have increased unemployment. If restricted use of automation andomputer is done, recession problem can be solved. What automation and which computer programs should be allowedhould be decided by government committee.riyamukhosted by Priyamukh Panalal March 25, 2009 07:35 AM

08ood photoesosted by saurabh March 25, 2009 08:21 AM

09et us pray more and put our hope and trust in Jesus.osted by Angel March 25, 2009 01:55 PM


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10esus aint gonna save nobody. Good Luck!osted by Jack is Back March 25, 2009 06:10 PM

11

think the decline of humanity is on..after a long period where ''our children'' lived better lives then we did..now it's viceersa...ppl have no jobs, no money, no shelter, no insurance...here in Greece we've seen lately a dramatic increase in crimes,tealing etc..and this is bolstered by the TV networks so ppl are now also afraid along with everything else..ow do they expect someone to buy their goods when that someone has none of the above??? Companies and banks forecades winning more than enough and not giving anything back to ppl. Companies moving factories to countries like China

eaving thousands of ppl unemployed and employing thousands of others there for 100 usd per month, then selling theirroducts, which cost 1 or 2 usd, back to usa and europe for 100 and 200 usd..banks loaning everyone and for everything with

uge interest. damn they even have a vacation loan here...IF U GOT NO MONEY Y THE HECK U GOIN ON VACATION..market works on a circle, how stupid can these ppl be not to understand that or not to care???..how ''stupid'' can politicians be only to care about money, stock options and reelection?..how stupid are WE?..WHAT will a person do when he is left with no job, no money, no shelter...no hope??? Only two things come in mind....S. Jesus died and God's gone missing...ttp://www.youtube.com/watch?v=DbGhC47NSmY&feature=relatedosted by Mrodd March 25, 2009 09:06 PM

12pend less? in order for the economy to bounce back, people need to spend MORE. learn a thing or two about basic economiefore making baseless commentsosted by student March 26, 2009 12:17 AM

13


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nteresting comments, but I do not believe anyone living in the First world knows what real poverty is. Come to Africa andheck it out !! You think because you live in a tent or you cant get a car loan you are poor ? Unbelievable.. Think again peop!ete in Nairobiosted by Pete Hurst March 26, 2009 03:35 AM

14f everyone who responded to these sad photos made a serious suggestion as to what might alleviate this crisis, we would hahuge amount of brain power working on positive solutions. We would make more progress than we do in blaming others ooaning about our situation. Give us your good ideas!know that we can work together, not through government necessarily, to make things better. Those who have plenty shoulde generous to charities. Those who don't have can still volunteer to help these charities make their dollars go further.osted by Granny J March 26, 2009 08:09 AM

15ecession tought us austerity. A lesson for future.osted by AJAY GUPTA March 26, 2009 11:57 AM

16hat I'm going to say might sound cynical, but it seems to me that people think nowadays that it's a god-given right to have

n upper middle class standard of living (at the very least). It's evidently impossible , so people overextend themselves -it'salled hubris, arrogance- and lo!here comes the catastrophe! I have a very modest lower middle class standard of living, dresheaply, try to save money, and these wannabees keep looking down on me like if I was a piece of shit.osted by lionel March 26, 2009 12:47 PM

17he time of reckoning.n end to living in excess, indulgence and selfishness.


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time for renewal, responsible living and respect for nature and each other.osted by Adrian -Singapore March 27, 2009 12:39 AM

18EVOLUTION !!! QUICK PLEASEosted by JO LEE March 27, 2009 02:28 AM

19 osted by laserstone March 27, 2009 05:50 AM

20ery very SADosted by Anonymous March 27, 2009 07:31 AM

21icture 18 - Lyulin project highway is not caused by the crises. It represents Bulgarian Government and administrationorruptions. The project for this highway is from last century, last 9 years we have around 500 000 000 euro budget over-ncome each year. This over-income is always spent for 1 month - December instead to plan it for spending for next year. Th

s caused by legal issue - currently it is impossible to transfer budget money from one year to next one.lease do not mix corruption of politics and administration in Bulgaria with worl financial crises!!!! In Bulgaria there is no l bout administration officer responsibility!!!! We have very good elaborated corruption schemes, even ministers are firingdministration officers for signals that same minister's order for smoking restriction is not respected.osted by abu abi March 27, 2009 08:20 AM

22ery nice site!

d b h h


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osted by John1217 March 27, 2009 10:11 AM

23ery nice site!osted by John1048 March 27, 2009 05:48 PM

24i to all that read this:Pretty Sad situation, good thing I live in Canada. Things aren't that bad yet. I feel sorry for the rest of

he world, especially family's in direr straits. God bless you all and I hope thing get better. Jamesosted by James Pollock March 27, 2009 08:55 PM

25t is beyond my ability to comprehend the full impact of what is occurring.osted by dr. judie manulkin March 28, 2009 02:18 AM

26513 "spend less? in order for the economy to bounce back, people need to spend MORE. "

hat is what you have been told hah?! Whose economy?osted by from Tanzania March 28, 2009 05:25 AM

27hansk to the Oil Merchants who occupied the White House (almost illegally) for 8 years. All this is the direct result of their

reed for money when they artificially increased the oil price to $150.oo bad Americans elected them for the second term.tupid Americans!osted by kanjis March 28, 2009 11:14 AM

28irst, it was Communism that "failed" because of the Greed & Selfishness of a few. Now, its Capitalism that has "failed"


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ecause of the extreme greed and ultra selfishness of a few. So, its actually GREED that's the cause which has jeopardized thivelihoods of billions and put all our lives on the line. The selfish few still get Government "propping-up" and earn bonuseshile billions of people's lives hang by a thread. Over-consumption, conspicuous lifestyles, destruction of the earth's

esources, a single model of "development" etc...are issues to examine towards benevolent, safer, democratic nations

nd...worldosted by Ash T. Ruth March 29, 2009 03:39 AM

29t is overwhelming as an adult to realize that the only reason our society functions the way that it does is because of greed anapitalism. We have been bred into a society that teaches us to work, work, work, so that we can live slightly beyond oureans. I'd really like to know who is responsible for having lowered the qualifying criteria for these high risk, no money

own, bad credit ok, forget about debt to income ratio, (but your payment will balloon) home loans. Inevitably wrecked!!!osted by Billie March 29, 2009 02:09 PM

30h wellosted by Anonymous March 29, 2009 10:03 PM

31hether you like Obama or not, is it right to really blame him?e's been in office for two months now. Did you guys really expect this economic crisis to turn around in that amount of timrather gullible thought in my opinion.

'm not going to start pointing fingers when I see him working everyday attempting to prove our economy. It's not an easy joswear, half the people that are blaming Obama would drive the United States into the ground if they had to try what he is

rying to accomplish right now.osted by Carl March 30, 2009 04:28 AM

32


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his CONSPIRATORIAL worldwide economic plunge is the result of too much government taxation, spending, regulationsnd tyranny in general, and is NOT the fault of capitalism, which has brought wealth and happiness to billions for the past 1ears or so. If we reject capitalism and bring back the feudalistic system of socialism, we will return to the dark ages of 1500ears back and before that. People should NOT panic and demand to our politicians to return FREEDOM to the marketplace

ot more Obamanization and government tyranny.osted by Sam Taranto March 30, 2009 08:11 AM

33t is not capitalism OR socialism, captitalism is good but the exesses come forward every decade. We have therefore the neeo think of something better. People work better when they work fore themselves and have responsablities, this is whereommunism failed and collapsed in 1989, this year 20 years ago. Capitalism took over since, but the free market works toood, it needs to be led, stuctured and contained by a GOOD gouverment. Ordinary people cannot see and don't have the

nowledge to understand what goes on in the bankingsystem and in leading companies. The photo's are very good but they ake me sad and angry what an economic system can do to people.

osted by Ronald from the Netherlands March 30, 2009 10:43 AM

34he Carter-era Community Reinvestment Act forced banks to lend to uncreditworthy borrowers, mostly in minority areas.ge-old standards of banking prudence got thrown out the window. In their place came harsh new regulations requiringanks not only to lend to uncreditworthy borrowers, but to do so on the basis of race.hese well-intended rules were supercharged in the early 1990s by President Clinton. Despite warnings from GOP membersongress in 1992, Clinton pushed extensive changes to the rules requiring lenders to make questionable loans. [...]ailure to comply meant your bank might not be allowed to expand lending, add new branches or merge with otherompanies. Banks were given a so-called "CRA rating" that graded how diverse their lending portfolio was. [...]n the name of diversity, banks began making huge numbers of loans that they previously would not have. They openedranches in poor areas to lift their CRA ratings.


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eanwhile, Congress gave Fannie and Freddie the go-ahead to finance it all by buying loans from banks, then repackagingnd securitizing them for resale on the open market.hat's how the contagion began.ith those changes, the subprime market took off. From a mere $35 billion in loans in 1994, it soared to $1 trillion by 2008.

eaders are strongly encouraged to review this entire fact-filled piece to not only better understand the roots of today'sinancial crisis, but also to get a sense as to just how absurd media accusations of this all being Bush and McCain's fault are.osted by Justin98 March 30, 2009 12:17 PM

35 very member of society needs to relook in their lifestyle namely in US and other countries. Spending and earningxpectations should be kept at logical level by every individual. It is for certain that present crisis would make people realizehat saving is essential. Despite understanding the risks , greed has overtaken the decision making capibility of investors, rul

f global economy would now undergo many changes.osted by B.C.Roy March 31, 2009 10:00 AM

36t is very sad and depressing to see the plight of so many people.Who is responsible for this state of affairs? Who took theociety on a ride? What lessons do we learn from this tragidy?Did not the coming events cast their shadows? Who noticedhem but found it convenient to neglect them? Obviously we were not able to digest the excessive prosperity.This prosperityas not healthy. Will the culprits go unpunished?osted by ramesh P. Joshi March 31, 2009 11:19 AM

37his is only the beginning...economists who say we have hit bottom have been saying that for months.he "Stimulus" bill will only work for a short time...then when the "bill" comes due...we will only see more of this...it's just eginning.... bama will run this into the ground AND blame Bush for it.

osted by DaveAZ March 31 2009 05:14 PM


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osted by DaveAZ March 31, 2009 05:14 PM

38535, by Justin98, is the only post you need to read here. Although simplified, he hits all the major points, all of which will eemed historically accurate over the next decade. The point that I have not seen addressed is the home ownership myth.

OT ALL PEOPLE ARE QUALIFIED TO OWN A HOME. They require maintainence, discipline, and SACRIFICE. Heckre a lot of people who are not responsible enough to even own a car! But they were in line for home loans! You can lead aorse to water, but you can't make it drink!osted by schiff_was_right March 31, 2009 08:53 PM

39l ness 3am tekol ba3da...... wish all those who have lost their jobs the best of luck and I pray that this will all be over soon...osted by Rami Tabbara April 1, 2009 04:09 AM

40ow can you blame obama he was handed this mess on a silver platter by some one who was saying i caused this mess you f

tosted by yvette April 1, 2009 12:59 PM

41 would just like to live the American deam...........Wait! I am, over taxxed, laid off, frusterated. All Hail Bush. Thank youormer President Bush for the big sh*t sandwich. Remember fellow Americans it was his politcal party that put us in theituation that we're in. I DO Not Support a socalist President either, and where can I get one of those printers to make my owfake) stimulus money.osted by Cowsta April 1, 2009 04:55 PM

42epressing, very depressing. Do you know the opposite of government control/involvement and regulations? FREEDOM!!!

b h l di d f "FREEDOM"? N j h di "FREEDOM" b h


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o we not remember how many people died for our "FREEDOM"? Now we are just handing over our "FREEDOM" by the ulls. Thank you very much greedy people.osted by I found the weapons of mass destruction! April 1, 2009 06:59 PM

43

535 is full of misleading information that misplaces blame. CRA related loans make up only a tiny fraction of the overallending market, and it's intention was to get rid of discriminatory lending practices in the industry. The real fault lays withnsound lending practices spurred on not by the CRA (as I said, the program is relatively minuscule), but with large hedgeund managers and security traders who greedily bought up a fiscal bill of goods that were all predicated on risky loans, thehinking being that, given the historical level of foreclosures and the supposed accuracy of risk-assessment behind lendingractices from the low-level bank managers, these securities were just that, secure. This created a distortion in the market,nd it quickly created a classic economic bubble which was obfuscated by the repackaging of the debt into difficult to

nderstand financial packages traded at an alarming velocity.f course, pointing our fingers in a reactionary fashion at unpopular past presidents is much easier than attempting tonderstand all of this.osted by Michael April 1, 2009 11:38 PM

44Hail communism! Hail Lenin!"o right man. Yesterday, all my troubles seemed so far away.....osted by Yipideedoda April 2, 2009 09:50 AM

45have found a new hobby: I walk into the shopping center. I look in the stores. I feel relieved at how much I do not need, atow much I can do without. Great! Wonderful! By the way, it is greed that caused this crisis. Greed,:"The sword that killedany dead kings " ( Macbeth)

osted by Macduff April 3, 2009 06:22 AM


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46his is not the time to blame or criticize, we all need to work on this together, find out where we can help, and learn fromhese mistakes. Let us hope to be better persons and do the right thing!!osted by Sudha N April 3, 2009 11:09 AM

47ow do you learn from mistakes without analysing what went wrong ? If you personally made a mistake, who do you think

esponsible ? If the mistake was someone else's why shouldn't they be responsible ? Criminals are running Wall Street, andot a cop in sight ! Who's responsible ? The Government is sending your future earnings and those of your children and granhildren to Wall Street as bailouts. They should be sending the cops. When will your government start working for you ?osted by Keith April 4, 2009 07:11 AM

48 y friends, IMHO it all boils down to hungry people. The global governmental elites fear this scenario like none other (thouome would see it as an hegemonic opportunity). Nothing else ultimately matters. This is the only true predictor of finalollapse and consequent revolution(s). Hungry people have nothing to lose and everything to gain by ousting establishedovernmental power structures (theocratic, democratic, socialist, totalitarian, etc.) perceived as failures. There must be ahreshold percentage of hungry/starving people per national capita that can be sustained before revolution occurs. Thisercentage is the only statistic I truly care about. I would sure like to know what that number is...osted by TK April 4, 2009 04:07 PM

49oke up? Slept well, I guess, that was "The American Dream." Now move your ass.

osted by Starwin April 5, 2009 02:35 AM

50his is what happens when the fox is called to watch the hen house. It seems to be a way of life here in Texas. Crazy!osted by Ga in TX April 6, 2009 04:46 PM


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51he final convulsions of a universe based on quantitative factors, like money, junk, and time, would seem to be at hand. Theime approaches when no amount of money will buy anything and time itself will run out. ------------ William S. Burroughsosted by love is the answer April 7, 2009 11:31 AM

52he world should learn from this recession. A corporate world that says spend, spend what does not belong to you and pay

ater. Just spend how much you can to improve your credit rating. How do you expect people to keep spending what does noelong to them without enslaving them later? I guess we all agreed to this false living so much that there was no differenceetween those who were really the owners of wealth and the borrowers of wealth. How can we deceive ourselves that way?aven't we all contributed to this terrible economic downturn? We have all been less cautious and very greedy. The world'slatform can never be the same as we have known. A new economic order will emerge: Prudence should guide our actions thimeosted by Amankwaa, London April 7, 2009 02:48 PM

53t's funny that people dream about not working and doing nothing, but when they loose their jobs they stand in long linesesparate to find at least something. maybe this crisys will teach us to appriciate a lot of things. the prise might be way tooigh though.osted by Kateryna April 7, 2009 03:28 PM

54ery nice site!osted by John1217 April 8, 2009 02:48 AM

55his simply shows the value of work,how the people were careless about their work which results that condition,anyway,it is

h ti t l f it t t t k g i th i thi ill l d t i i l ti iti


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he time to learn from it to start work again.otherwise this will lead to criminal activities.osted by rahul indoria April 8, 2009 03:51 AM

56his is really sad but hopefully it makes people appriciate their work and not be so nerdy))osted by Anonymous April 8, 2009 05:11 PM

57hoto #17 warms my heart. Its fantastic to see all those gas-guzzling, overweight and poorly-designed cars off the road. Mayomebody can figure out how to recycle them into scooters or something more appropriate for personal transport.osted by Marcus April 8, 2009 11:05 PM

58cnomic crisis is getting worse day after day and this is because of miscalculation made by big gvts which are supposed to blame for their mistakes.they followed false economic policy based on intrests.they did not calculate how long this policy mast successful.IT is obvious that the economic depression first hit in america and then expanded fast to other countriesouching even those poor coutries.2008 economic crisis is like 1930s economic depression.So it is clear that new policies me followed to get out of this disaster,and this means that gvts must not follow the same policy .Each gvnt must find its ownolicy so that to get out of this crsis because one policy for all is useless.osted by mos April 10, 2009 08:25 AM

59its really a belleeeeeeeeeeeeeeee site but people shoud't b like tisosted by manoj April 11, 2009 01:13 AM

60know why the world is facing recession ! Its just as Allah said that Allah always increases the money of Zakat(Charity) &lways reduces the money of intrest ! Thanks to Allah that majority of the muslims who protect them from intrest are safe. Mather's business is also going very good. Islam is the best religion.

osted by Muhammad Saeed April 11, 2009 01:40 PM


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osted by Muhammad Saeed April 11, 2009 01:40 PM

61his is a reality check, frist we should understand why is this happenning? how did this start? we became too good at what wo, the marketing people marketed so well, the sales: sold to every single person who they spoke to and we the cousumer,

rough it. without a question, even when we knew that we could not afford it. we had lost our faith in our creator (call himho or what ever) we believed in our new god: Money and the modernday church/mosq/temple: The Bank, do we deserve

his, oh yeah,, now do you understand how to get out of this.. HOw toosted by Sheriff April 13, 2009 09:21 AM

62a palabra de Dios relata todo esto que esta aconteciendo alrededor nuestro. la crisis mundial y espiritual que la humanidad.frenta son prinsipios de dolores. AMIGO CRISTO ESTA MAS CERCA QUE NUNCA EL VIENE A BUSCAR UN PUEBUE EN MEDIO DE ESTA CRISIS. SE HA MANTENIDO EN FE HACIA EL, AMIGO REFUJIATE EN EL EL, ES EL U

AMINO LA UNICA ESPERANSA PARA TU VIDA. esto no lo arregla nadie e ira de mal en peol pero si tu de corazon lentregas tu vida a cristo te librara de la hora de prueba que ha de venir sobre este mundo de maldad y confucion. apocalipsis:10 aceptalo como unico salvador y tendras el privilegio de vivir con el por los siglos de los siglos amen.osted by carlos April 17, 2009 05:42 AM

63don't know what to say, I'm really very touched by all these pictures. One thing I know is that the end of the world is fastpproaching and Jesus is mounting the saddle to return. Let's take this time to reflect on our relationship with God, do we ven have a relationship with Him? These times certainly will end, the question is what will I gain from it? "All things workogether for good to them that love the LORD"osted by Ubong Akpadiaha April 24, 2009 06:51 AM

64t is disturbing to note the effects of the global recession in the developed world. I shudder to imagine the ripple effect it will

ave on the developing world


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ave on the developing worldosted by Ken Mazhindu April 28, 2009 04:00 PM

65o much stress. So much strain. You grow up to think America America- and even my uncle said this is america, of course w

ill turn around! Now im starting to wonder if he is right. I hope for the sake of so so many he is correct. THIS is taking touch of a toll.osted by isabel L April 28, 2009 05:33 PM

66he 90 91 recession was bad. this is worst. for those who are into saints PRAY TO st JUDEosted by Carmal April 29, 2009 08:14 PM

67f the Lord, Allah and St. Jude would just nationalize the Federal Reserve (the people who are really running the country) weould not have to pay interest on the stimulus package. Then the problem would not be exasperated any further by borrowinoney to give to the banks and renew the cycle. Foreclose the Federal Reserve!

osted by Doubting Thomas May 1, 2009 12:41 PM

68t's simple, really. If you don't have the money to buy it, then don't. Wait till you have saved up for it. If you have to buy aouse or car on credit, then go for the most basic ones and refrain from creating more debt. Then work hard to pay off theouse and car and you will eventually live a life, free from debt. Don't participate in the world of usury.osted by Anver (South Africa) May 2, 2009 01:17 PM

69am really surprised at a lot of these comments... I am a 28 year old male, recently returned and graduated from school andorking in LA. I have a wife and 2 kids as well and we both have worked through school living within our means.either one of us can a find a job now... Your telling me that this recession is my fault because the guy I didn't vote for made

ome really eroneuos choices? because I spent outside of my budget although I am living with the bare necessities One guy


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ome really eroneuos choices? because I spent outside of my budget although I am living with the bare necessities... One guyaid if you can't get a car note then you are NOT poor... But, contrary in most places you have to have a car to get arrounduccessfully on schedule.heosted by THUG LIFE RETURNS May 11, 2009 08:22 PM

70oreclosures happened due to the banks forced people into loser loans for 10 years and ended in foreclosures properties andhe economy is in a slump.he United States will go bankrupt and banks should be held accountable they created this mess by the greed and capital idehey dealed out. People are eating shit and reducing their expenses to have just enough money for basic essentials. Theedian and poor population getting poorer until they die and the banks and government trying to get bills passed to deduct

ore taxes from worker.osted by Anonymous May 23, 2009 07:39 PM

71othing will educate the people but hunger and cold. Only massive SHORTAGES will awaken them. By then it will be too l

o recover easily. The criminals in the Senate (BOTH DEMS AND REPUBS) MUST be booted out in 2010, preferrably in thRIMARIES. No useful action will be taken by the current congress. The other shoes have yet to fall: commercial and

ndustrial realty and biggest of all, LOCAL governments.osted by deathbymagoomba May 31, 2009 10:32 AM

72 veryone who says that this is the end of the world is overreacting. Sure, things are pretty bad right now. But it's been worsehe world isn't going to end, because we aren't going to let it. I refuse to believe that one day in the near future, we will allrop dead simultaneously, or that soon all forms of government will collapse into anarchy. This is going to pass - Or at least,ill if we keep our heads.

osted by Catherine June 7, 2009 08:32 PM


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y ,

73ow sad.wait.time change and will be hopful to futur.osted by kishor June 11, 2009 05:28 AM

74l capitalismo debe morir, los seres humanos de todos los paises deben tomar conciencia, qie este es el mal del planeta.Losabitantes de los paises del primer mundo deben saber que la tierra es para todo, si esto sigue asi ellos no sealvaran,debemos obligar a los gobiernos que se pongan del lado del ser humano y dejen de proteger al capitalismo. Losransbordadores no los van a salvarosted by Hctor June 15, 2009 07:31 PM

75

ery nice site,I congratulateosted by tahir June 27, 2009 11:06 AM

76ow , It's pretty scary. Hope we recover from this soon.osted by Anonymous July 3, 2009 11:13 PM

77

t tombent les anges en feu. La foudre les entoure de ses clairs, brlants dans les flammes ardentes dOrc. What greed of aew has made, rage from numbers must burn.osted by Fab July 7, 2009 04:41 AM

78t tombent les anges en feu. La foudre les entoure de ses clairs, brlants dans les flammes ardentes dOrc.nd the angels fall in flames. Lightning surrounds its lightning, burning in the fiery flames of Orc.

l capitalismo debe morir los seres humanos de todos los paises deben tomar conciencia qie este es el mal del planeta Los


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l capitalismo debe morir, los seres humanos de todos los paises deben tomar conciencia, qie este es el mal del planeta.Losabitantes de los paises del primer mundo deben saber que la tierra es para todo, si esto sigue asi ellos no sealvaran,debemos obligar a los gobiernos que se pongan del lado del ser humano y dejen de proteger al capitalismo. Losransbordadores no los van a salvar

apitalism must die, the human beings of all the countries must take brings back to consciousness, qie this is the evil of thelanet. The inhabitants of the countries of the first world must know that the Earth is for everything, if this follows thereforehey were not saved, we must force the governments who are put of the side of the human being and stop protecting toapitalism. The ferrys are not going them to saveosted by David July 13, 2009 12:51 PM

79lease watch end game by alex jones on youtube. the economy is designed to crash to bring in world government. you will s

orld government and carbon tax and the rfid chip.osted by jon July 20, 2009 01:04 AM

80ome more scenes of the recession from the air: http://recessionhouses.blogspot.com/osted by Bob July 31, 2009 07:12 PM

81f the evolution of world is already programmed...and anything and everything will move accordingly within the allowedimits........creation and annihilation all are part of the system.....at different phases of evolution....we have to move from ordo chaos and to new order (equilibrium).....we may ask if everything is pre-decided how could we be responsible for ourctions...?!! yes ..we have been given a chance......with our intelligence and ability to act, a decision and action to move in thight path (as defined by us in our frame of reference) is allowed and we can act only within this realm.....rest is bound toappen...which is destiny....But correction if things go wrong is inevitable......open Bhagwat Geeta and read on what Lordays.....Yada Yada hi dharmasya...........to ...................sambhavami Yuge Yuge..(Sanskrit).


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osted by Pradeepkumar N August 2, 2009 04:02 AM

82

read a few topics. I respect your work and added blog to favorites.osted by Kouba August 2, 2009 09:34 PM

83ake up americans?

es, i'm american. But unlike many, i've lived oversees. No one on this earth...which the exceptions of third world countrieshom have far bigger things to worry about, is blameless. Every country I've lived in, every state, large or small has the sam

ast food chains, the same dependencies. Yes, i did enjoy living Germany more, and yes, the lifestyle is more healthy there.

our every day, atypical American is prone to excess. But what is coming is not based just on this excess. We as the humanace are trying to extinguish the very things that give us life. We pave our forests, we pollute our soil and our water and our agrew up in a small village, it was 10 miles from the nearest town, and even that small town was small. In 10 years, from the

ime i started middle school, i watched farmland become golf courses...golf courses set ACROSS from another golf course.hat does a village of not even 5000 residents need with two full golf courses? Rich farmland wasted so a few people could

lay a round of a game. This waste isn't just American. Its global. And its going to kill us.osted by Dracornin August 6, 2009 10:13 PM

84ad, really sad. Jaane kya hoga ab?osted by Diva October 11, 2009 10:03 PM

85any people from other countries seem to see only the good and fashionable side of USA before this recession hit but fail to

ee The dark life before the recession. The mothers that worked 3 jobs just to get her and her son by, or the families that

ouldn't afford insurance and died while leaving a $30 000 funeral to pay for Now that the wealthiest country in the world is


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ouldn t afford insurance and died while leaving a $30,000 funeral to pay for. Now that the wealthiest country in the world isaving economic downturn (As all countries will) all people can do is sit here and criticize Working Americans and there liftyle. But i do admit there Was many mistakes made by American officials That have to be fixed and learned from. USA is tastest established country in the world with a stable government and a world effect (If USA sneezes the rest of the world ge

cold). USA has not had the chance to go through the large economic Problems in its 200 year history as other countries thaave been here longer and have had the chance to tackle problems. I believe that this recession is a lesson to be learned.andre Harris [email protected] by Dandre Harris of Maryland January 7, 2010 06:32 PM

86ateu muito no fundo do mundo,Mas o pior ainda est para vir.Acreditemosted by jose March 6, 2010 02:08 AM

87ateu muito no fundo do mundo,Mas o pior ainda est para vir.Acreditemosted by jose March 6, 2010 02:08 AM

88ean this is the last part after i finish speaking i will show these pictures scenes from the recession this is the best part im soxcited do u think we should all wear black pants and white shirts black shoes bc i dont want to look tacky which is basicusiness colors and for us girls open toe shoes are not professional can't wear them on an interview y wear them on aresentation u r the team leader so run that by the team everybody should have black pants and a white shirtosted by Denise May 10, 2010 12:08 PM

89ancho Cucamonga California is in major decline. The city was formerly the 6th fastest growing city in the nation. It wasmazing to see. Then the depression hit. Now our "crown jewel city" is in crisis mode. The fastest growing metro area in theation became the worst economic region in the nation very quickly. My construction worker friends who are great at their

rade suddenly went from making a decent wage to indefinite unemployment. Rancho Cucamonga's brand new office distric


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rade suddenly went from making a decent wage to indefinite unemployment. Rancho Cucamonga s brand new office districas multiple empty buildings that still have never been occupied. Our neighborhoods to the north are still half built. Centralark is half built with no money to build the aquatics and tennis centers. The newly built hotel district with five business claotels could not have come at a worse time. And the LA/ONT International Airport is failing with passenger levels lower tha

efore the two terminals were built. Part of the terminals are shutting down.here is good though. President Obama's stimulus plan has done much good here. A new rail bridge was constructed usingtimulus dollars and this project was totally shovel ready and planned before the crash. The new bridge separates street traffin Haven Avenue (55,000 cars) from the train traffic on the Metrolink Red Line (40 trains per day) (By 2020 the number of rains will double to 80). This is one of the busiest intersections in the nation now fixed and running smoothly for...well untilhe bridge needs replacing in say 150 years. The other major stimulus projects include the planned California High Speed Rantario Station and the planned Metro Gold Line stations in Upland, Rancho Cucamonga, and Ontario. The new high speed

ail and light rail lines will link all the affluent foothill communities to Union Station in Downtown LA and will also link uphe planned station in Ontario at the California High Speed Rail Hub at the LA/ONT Airport. The president also providedtimulus money to fund over 25 other projects within city limits including street, storm drain, and sidewalk improvements inrder to spur development. If you don't live in cities that are growing you will not see the stimulus effects right away and yoay never even see them at all. But it's working and I've seen it with my own eyes. I hope the Inland Valley can recover from

he worst president in American history...President George Walker Bush.osted by Matt June 22, 2010 04:41 PM

90 ANTASTIC THINGS U HV DONE AND THE PICTURES TAKEN AT THE SITE OF HOMETOWN WAS MARVELLOREALLY APPRECIATE FOR THAT.osted by TSERING WANGDUE October 30, 2010 05:00 AM

ore comments...

isplaying Only The Last 100 Comments. You Can Read All 590 Comments Over Here.


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