United States Heading towards a Depression?

So in other words you wrote something that you personally know to be absolutely stupid and untrue. And having printed it, while knowing that its totally untrue you repeat it, you don't discredit it.

And that is why a lot of cr@p from Right Wing mouthpieces that is both totally untrue and completely unsubstantiated gets repeated again and again and again.

It is true about the banks making loans unbelievably tough. I had banks lines of credit automatically withdrawn, even as there are substantial assets to back them. I had to fight to get back some of them. Then a while later the same stupid institutions wanted to withdraw them again. Automated done. Had to fight again. My statements behind them hadn't changed.

The friggin banks are holding on to their money. Its not like they could or should just open the lending spigot. I also doubt if loan demand is strong, based on some of what I've read...but the lenders are looking for ways to not do what their base jobs are.

Mother F*ckers. They got a free ride from bailouts and cash infusions. Now they are putting the screws to everyone else. Its not the feds. They are trying to spur lending as Bernanke JUST stated: http://www.memphisdailynews.com/news/2011/nov/10/bernanke-urges-banks-to-help-small-businesses/

The feds don't control the banks. They can't force the banks to do squat.

 

No, I wrote what Trump had said.

And for you to claim that I "personally know to be absolutely stupid and untrue" is completely dishonest of you. For you to claim I knew it was "totally untrue" is an out and out lie. You are making things up. Why?

I explained what Trump said. I posted a video of Trump saying it. If you want to disagree with Trump, go ahead, but don't act like a grumpy old man at me. Why are you picking a fight over this and making shit up about what YOU think that I think?

 

Here is the system in a picture, although it says nothing about who formed the system and who actually owns it.

 

I do not understand how you came to that conclusion from what he said.

 

I think this statement explains it.

 

I would respectfully disagree. I believe we were in a correction. The steps taken to head off what experts thought was a recession have forced us into a depression.

BTW, do not mistake a 2% growth in the economy for any kind of recovery. For that to occur, you're going to have to start seeing a few quarters of double digit economic growth.

 

Have you ever heard of a thing called a figure of speech? What Corwin is suggesting is not that there's an actual regulator looking over every tellers shoulder or approving every transaction, just that there is way more accountability so that banks may be more loathe to lend out money than they were before. Some of this is due to heightened credit restrictions and some is due to banks being skittish to loan money based on high unemployment and possible loss of jobs pending and other reasons. I didn't see any wild accusations or crazy facts, just an assertion that lending is tight.

 

You know, I didn't realize until now that Earl might be taking me literally???

Earl, I'm sorry for any confusion, @sunfyre has it more accurately. I took it that Trump meant there is way more accountability, and that he never meant that there are actual regulators standing behind banker's desks, peering at their paperwork.

 

My personal outlook: they have got to change the whole attitude to expenditures of the whole country to improve the situation, otherwise the state dept will only rise leading to US bankrupcy.

Guess the upcoming presidential elections will show, how the situation will be developing. As for the depression, I suppose it's not only about the uSA, but about the whole Eu as well, facing the crisis, with the global economic centers moving towards Asia more.

 

I think I'll be ok.. So don't fret so much.

 

Well I think that even if it's not gonna be ok, it's gonna be ok eventually, the history is based on cycles, there're the successful time periods, but there can also happen recessions, which are more, than normal

 

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Absolutely. In fact, recessions/pullbacks/downturns are expected, normal and REQUIRED in a capitalist society!

 

True enough.

 

I believe American People could face this condition because
This country is the central of economic...

 

True, I've recently encountered the interview with one of the world's leading financial experts, not sure if I can recall the surname now, saying that in the upcoming decade, there will be the economic recovery both on the EU and US territories, with USD and Euro currencies becoming much more stable. He also pointed out the probable growth of Chinese Yuan, as the thrid strong currency in the world.

From my personal point of view, the mentioned expert is absolutely right

 

There was no name mentioned. Who are you speaking of?

 

It's Mr. Fred Bergsten, the head of Peterson Institute for International Economics (USA), as far as I remember, have you heard of him?

 

Just now Is he against printing up billions and trillions of monopoly money?

LINK

 

Monopoly money? Did someone say EuRO?