United States Heading towards a Depression?

Discussion in 'Politics & Religion' started by decoyjames, Dec 27, 2007.

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  1. smatts9

    smatts9 Active Member

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    #1161
    I have to call B.S., he says he lives in "Host Lizard Coupon: DPLOCFD".

    He can't see any forest or trees because I cut the bastards down to build my ridiculously large log cabin. Plus you have no way to get a "2x4" because of the aforementioned.

    ----

    Plus, we aren't going to have a recession, it is stupid to think that way. Do people need jobs to spend money? No. Their "savings" a.k.a. their homes are depreciating, but does that matter? Hell no. Doesn't matter if this "housing crisis" is supposed to be the worse in a long time, we all need to be hunky dory and look to the bright side! Oh, and does anyone care about rising rates on everything like credit cards and loans? Haha no way that shit don't matter. This will in no way affect consumer spending in the least bit. So no need to worry about anymore recession prattle, go on and buy crap till you're blue in the face.
     
    smatts9, Apr 8, 2008 IP
  2. ferret77

    ferret77 Heretic

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    #1162
    obviously there is going to be a recession, we are due for one

    it might even become a depression, they way things are looking
     
    ferret77, Apr 8, 2008 IP
  3. debunked

    debunked Prominent Member

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    #1163
    I bet it is Bush's fault for people getting in over their heads with mortgages....
    ... off to see if alex jones has any proof from the lizard people on this yet.
     
    debunked, Apr 8, 2008 IP
  4. guerilla

    guerilla Notable Member

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    #1164
    Actually, Alan Greenspan is more likely to be at fault for the mortgage boom and bust. Bush is only at fault for bankrupting the country.

    I didn't listen to Alex's show today. But check the new site at www.infowars.com, they really did a nice job upgrading the look and adding tons of news content.
     
    guerilla, Apr 8, 2008 IP
  5. gworld

    gworld Prominent Member

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    #1165
    No it can't be Bush fault, everyone knows that he is useless and only a president and can't have any influence on war or how the economy is doing. :rolleyes:
     
    gworld, Apr 8, 2008 IP
  6. wisdomtool

    wisdomtool Moderator Staff

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    #1166
    Fed was saying the first half of the year will be a contraction, that essentially mean a technical recession is in place. Well at least they finally admit it.
     
    wisdomtool, Apr 8, 2008 IP
  7. guru-seo

    guru-seo Peon

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    #1167
    Indeed it does look nice!!!
     
    guru-seo, Apr 8, 2008 IP
  8. wisdomtool

    wisdomtool Moderator Staff

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    #1168
    IMHO I totally agree definitely not Bush's fault. He was President from January 20, 1989 – January 20, 1993. How can something that happen 15 years later be his fault! Ridiculous!



     
    wisdomtool, Apr 8, 2008 IP
  9. alstar70

    alstar70 Peon

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    #1169
    How much different would the ECONOMIC World would be if we didn't have to pay rent or mortgages?!
     
    alstar70, Apr 9, 2008 IP
  10. wisdomtool

    wisdomtool Moderator Staff

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    #1170
    Bad bad bad, rent is another way to amortized your building. If you had extra building flats, factories or rooms and you can't rent it out and did not use it, it is a waste of opportunity costs. Mortgages helps to transfer future earnings to current earnings (of course you need to be sensible to your real income). It helps to satisfy some urgent current needs by leveraging on your current assets.

    Both rent and mortgages are useful financial tools, so is hedging but misuse of these tools cause the problems that we faced, firstly hedging funds and now sub prime crisis. It has nothing to do with the tools itself but how we use them.

     
    wisdomtool, Apr 9, 2008 IP
  11. bogart

    bogart Notable Member

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    #1171
    The real threat to the economy is not the housing correction but the continued meddling of the Fed and US government in the housing markets.

    While Democratic committee chairman Rep. Barney Frank has called for a cash infusion to transform the FHA, Montgomery resisted that suggestion and said that the program should stay intact. Democrats in Congress including Schumer, Pelosi, Barney Frank, and Dodd are writting bills that will have the FHA, Freddie Mac and Fannie Mae assume billions in failing morgages. This is a new crisis waiting to happen.

    Sen. Christopher Dodd, chairman of the Senate Banking Committee, has his own plan to expand FHA and the Connecticut Democrat has planned a hearing on the issue on Thursday.

    http://news.yahoo.com/s/nm/20080409...ing_bush_dc;_ylt=AqmRT_KwY.VmCrBRORp1yWWyBhIF
     
    bogart, Apr 9, 2008 IP
  12. wisdomtool

    wisdomtool Moderator Staff

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    #1172
    Ask them to go to the beach and ask them if they can stop the waves. More and more powers are given to the Fed where in actual situation less and less power should be avail to them.

    Let the Invisible Hands rule please.

     
    wisdomtool, Apr 9, 2008 IP
  13. bogart

    bogart Notable Member

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    #1173
    The Fed is risking a dollar crash by printing dollars. The 'carry trade' is evaporating, opec members are calling for pricing oil in non-dollar denominated curriencies and China is hurting with the under-valued Yuan.

    The US most likely is in a recession. Unemployment is a lagging indicator and 6%+ unemployment will put more pressure on housing.

    I'm looking at a scenario of a 'double dip' recession. A small one now and a deeper one after the election.
     
    bogart, Apr 9, 2008 IP
  14. wisdomtool

    wisdomtool Moderator Staff

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    #1174
    It is in a recession now, even Fed admit that the first half of the year will be negative growth, this is a technical recession already.

     
    wisdomtool, Apr 9, 2008 IP
  15. guru-seo

    guru-seo Peon

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    #1175
    Don't tell that to Mia he'll hit yah!
     
    guru-seo, Apr 9, 2008 IP
  16. wisdomtool

    wisdomtool Moderator Staff

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    #1176
    Don't worry he will hit Bogart first and foremost, not us :)
    BTW gas reach another all time high. Bush admin actually had a lot of things to be proud of. Under him, a lot of things are at all time records.......

     
    wisdomtool, Apr 9, 2008 IP
  17. guerilla

    guerilla Notable Member

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    #1177
    Please remember, those are nominal records. All that is telling us, is that inflation is out of control.
     
    guerilla, Apr 9, 2008 IP
  18. wisdomtool

    wisdomtool Moderator Staff

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    #1178
    It was spinning out of control, reason why I suspected M3 was no longer available. But now it has reached the situation where the average man on the street are beginning to feel the pinch.

     
    wisdomtool, Apr 9, 2008 IP
  19. Mia

    Mia R.I.P. STEVE JOBS

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    #1179
    And under Kerry it would have been 50 cents/gallon more than it is now, so what is your point???
     
    Mia, Apr 9, 2008 IP
  20. guru-seo

    guru-seo Peon

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    #1180
    Did you pull out your crystal ball again? Man you not only capable to predict the future, but also can travel back in time. Damn those are some amazing powers C.K.
     
    guru-seo, Apr 9, 2008 IP
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