Are you worried about the economy?

Are you worried about the economy?


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Let's see...today we have another 290 point plunge by the DOW. We have FORD MOTOR posting the greatest loss in the company's 100+ year history. We have more meltdown in the Housing market (new sales way down). And we have Jobless Claims eclipsing the 400,000 barrier...

Oh, yeah, this economy, like the President said, is still sound
 

PlasmaTwa2

The Second-Hottest Man in my Mother's Basement
I'm not worried at all. Of course, I'm Canadian. Our economy is doing very well. The province I live in, Saskatchewan, is the fastest growing in Canada.

Of course, our economy is pretty much linked to America's because the government hasn't heard of Asia, so that could be a problem. However, I don't think it will hurt ours all that much.
 
I'm not worried at all. Of course, I'm Canadian. Our economy is doing very well. The province I live in, Saskatchewan, is the fastest growing in Canada.

Of course, our economy is pretty much linked to America's because the government hasn't heard of Asia, so that could be a problem.

You might want to be glad it isn't that connected to Asia. It ends up like a drug that eventually ruins you despite what seems to be good at first.
 

icerfan

Nikkala made me do it!
Yesterday I was thinking we might be headed for a recession.

After seeing the GDP news this morning, today I'm thinking the recession already started and finished.

I'm confused! :dunno:
 
Yesterday I was thinking we might be headed for a recession.

After seeing the GDP news this morning, today I'm thinking the recession already started and finished.

I'm confused! :dunno:

I'm certainly no expert. But it definitely looks like the economy has got farther to fall.

Every country seems to be hurting. Even China is having big troubles.
 
The US is transitioning ...

The US is transitioning ... from a facist economic model to a socialist one.
It's no longer about government mandated monopolies and safety nets, but actual government control of entities.

We left regulated capitalism a long time ago.

This means the US economy will contract over the next 1-2 decades, permanently.
We will have equivalent GDPs per capital to most EU nations, and the UK's GDP will shrink somewhat as well with their ownership in this nation, but the Commonwealth will outstrip the US from now one without question.

China will find reduced consumer demand as well.
The days of the US Dollar having its purchasing power are finally over.

We did it to ourselves in the US, we've been selfish too long, through both left and right-wing administrations.
And we haven't done shit to address the environment over those same 30 years, only made things worse.
 
There is talk of Lehman brothers being bailed out by the feds.

Also talk of low interest 50 billion dollar loans to the Big 3 US automakers from the feds.

Whatever happened to free enterprise?
 
There is talk of Lehman brothers being bailed out by the feds.
Also talk of low interest 50 billion dollar loans to the Big 3 US automakers from the feds.
Whatever happened to free enterprise?
It started leaving over 3 decades ago.
 
There is talk of Lehman brothers being bailed out by the feds.

Also talk of low interest 50 billion dollar loans to the Big 3 US automakers from the feds.

Whatever happened to free enterprise?

Its only profits that are private.Bad times they become public.The captains of industry and finance got themselves quite the little racket.All legal mind you but that's because they write the laws.
 
There is talk of Lehman brothers being bailed out by the feds.

Also talk of low interest 50 billion dollar loans to the Big 3 US automakers from the feds.

Whatever happened to free enterprise?

It went out when the Fed came in. Take a look at the history of the Anything-but-Federal Reserve and you'll understand.
 
Since 2001? Or 1995?

Yes the Republicans have ruined the Economy.
So the .COM bust had nothing to do with it?
And all that false wealth reported prior?

Or are you saying the Republicans since 1995 (Congress)?
That would make more sense.
 

Facetious

Moderated
3 AM Sunday trading session ?

It pisses me off to no end how certain select "Investment banker" - CEO Types, along with former Goldman "SACKS" CEO, treasury secretary henry paulson have authorization to conduct off hour trading . . when questioned about it, they simply give us the usual "it's for the better that we exhaust any and all mediums in which to keep the economy solvent".

And my favorite - "don't worry . . The fundamentals are still good" :rolleyes:
Really ? Then why the off hour trades ?



Godam barons ! M'er f'en Thieves !!
:thefinger
 
Now the Fed is, in essence, taking over AIG for 85 billion dollars!
I didn't think they were this stupid.

Listen you stupid Fed leaders, stop bailing everyone out. Let the weak die. It was their bad management that put them where they are. Let the strong gobble them up.
Yes, if AIG went bankrupt there would be some economic turmoil, but it would pass.

Now every major American financial institution is going to expect a bailout from the U.S. taxpayers.
How is this capitalism?
 
Like going to Las Vegas, getting every cushy perk you can, gambling way over your heads into the tens of billions in debt and having someone wipe the slate clean.

Reminds me of the situation with imprisoned execs in the past. Cushy internment, then they write a book and make millions.

But none of this will cause a reason to need to raise taxes to pay down the proposed $7 trillion we are now in debt for will it? "Read my Lips, NO NEW TAXES" - Bush #1 :rolleyes:
 
Now the Fed is, in essence, taking over AIG for 85 billion dollars!
I didn't think they were this stupid.

Listen you stupid Fed leaders, stop bailing everyone out. Let the weak die. It was their bad management that put them where they are. Let the strong gobble them up.
Yes, if AIG went bankrupt there would be some economic turmoil, but it would pass.

Now every major American financial institution is going to expect a bailout from the U.S. taxpayers.
How is this capitalism?

All the good it did to stabilize the markets.

The Dow lost 4.1%. The NASDAQ lost 5%. And gold gained the most in one day ever (and that's bad).
Panic is starting to rear it's ugly head.
 
All the good it did to stabilize the markets.

The Dow lost 4.1%. The NASDAQ lost 5%. And gold gained the most in one day ever (and that's bad).
Panic is starting to rear it's ugly head.

From what they are reporting on the the news this was prompted by banks being unwilling to loan each other money which is something they are normally willing to to.They hoped this move would instill confidence back into the system,apparently it didn't work and the stock market still nose dived.
 
Nothing surprises me ...

I've been predicting this since the middle of the .COM boom in 1998.
And I said it once again during the real estate non-sense back in 2005.
 
This was the nature of Michael Moore's "Roger and Me", about GM shipping jobs to Mexico, while the CEO Roger Smith, got a hefty bonus for saving the company money. It also was covered thoroughly in the Frontline episode, "Is Walmart good for America". A segment that showed Walmart sets pricing policy and if you can't make it for less, you are out as most of their expansion is fueling the Chinese economic boom. Have you noticed the lack of selection at Walmart? Many companies still hanging in there don't get their products in the building for those reasons.



No comment :)



All very true. Just think, you have to work until mid May to pay your taxes now, but there are still 8 1/2 months to go into further each year. You can still pay until June, July, etc. :dunno:

An 800 point drop might create some panic, but it can go a lot lower than that. Some unpopular financial experts are not seen much on TV anymore, because they won't paint a happy face on this for the viewers.

Wait a minute, AREN'T you the one defending obama's tax hikes and removal of tax cuts?

So which way is it? Are you happy about him raising taxes or angry, 'cause apparently you are both. :dunno: :dunno:
 
That's the problem with Liberal-Socialists ..

That's the problem with Liberal-Socialists ...

They believe the answer is raising taxes and increasing spending.
They utterly miss the fact who pays nearly all taxes these days.
They utterly miss the fact that there is a point of diminishing returns.

Unfortunately the Republicans are no better in the spending department.
The lower taxes back below the point of diminishing returns.
This in turn actually increases federal income (takes several years for the increased multiplier come around again).
But they still spend way more than the budget can afford, which is what you don't do.

Why do they? Because they are arguing against the Bleeding-Heart Liberal types.
The ones that don't understand the first thing about Income Taxes, let alone the concept that the high income earners are not responsible for helping everyone else.
Let alone the greater issue that high income earners can help people more via charity than building government agencies through taxation.
So they are part of the problem, possibly even more so.

I'm honestly tired of people on both sides thinking the government can solve things with spending.
The government produces absolutely nothing except more government.
They do not manufacturer shit, social programs are the absolute mainstay of the costs, so you don't even have the military-industrial complex for the majority of it either (not it is any better).

The US is now a socialist country, will float around 10% unemployment and will never come close to its former GDP.
We Libertarian-Capitalists have been long breeded out between the left and right wings.
And Generation-X, the prime income earners in the US right now, have been squished between the "I want my retirement money" Boomers and the even larger "I want my big car, house, etc... with a $100K salary at age 25" Generation-Y who use Paris Hilton as an excuse to tax the working millionaire next door.

You have to be a multi-millionaire to afford to retire these days.
Anyone who doesn't realize that, along with other things, are just wholly deficient at math.
I've had that argument over and over, along with the non-sense that led to both the 2000 market crap (which I predicted in 1998) and now the 2007 real estate crap (which I predicted in 2005).

We're fucked for a good 20+ years, not to mention our Environmental Policies have gone backwards out of sheer ignorance and countless, unsubstantiated viewpoints.
If there is one thing I want to smack the fuck out of Obama on, it's his non-sense Energy Policy -- it's more non-policy and "status quo" non-sense.
Yes, "status quo" actually results when you do not even remotely have a plan, which Obama does not have, despite what he tries to dance with.

At least McCain has Nukes and Wind, which virtually every Electrical Engineer has been screaming for decades -- renovate the power grid, first and foremost.
 
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