United States Heading towards a Depression?

I was sorting through my mail and came upon what looked like some more junk, but to my surprise it was from the Federal Reserve. I proceed to open it up and find that they are willing to provide 0% financing for any new home. I just bought the rest of the open lots in my neighborhood and will break ground tomorrow on my new homes. I am going to fill them to the brim with rice, televisions, and pokeman cards, because shortly they will be considered AAA collateral.

 

It is good to know that they are way behind the "8-ball" by downgrading the debt of the bankrupt.

 

Doesn't seem that there is any end in sight for the housing decline.

Median new-home price fell 13.3% vs. a year earlier and sales sank 8.5% in March, their fifth consecutive drop, to an annual rate of 526,000 new homes, the fewest since October 1991.

http://news.yahoo.com/s/ibd/20080424/bs_ibd_ibd/20080424general;_ylt=Akg48CtA2tGXwG_SL_uPlxayBhIF

 

$1 trillion is a lot of rice.

 

A whole stack of tortillas too

 

Did they offer $30 of insurance for every $1 you agree to pay back? If not, you should march down to the branch office and demand the "JP Morgan" version of the loan.

Just give the manager a bowl of rice and he'll make sure you get the publicly funded insurance and the AAA rating.

 

Now that ^^^, is pretty ugly.

It would be interesting to know which of these will have to be dumped by trusts that are required by law to only hold AAA rice.

Not that I think any of us doubt that the entire grading process is highly politicized. I mean, the US still has a AAA rating, and it's universally accepted that we're bankrupt.

 

Consumer confidence falls to 26-year low

http://news.yahoo.com/s/ap/20080425/ap_on_bi_st_ma_re/wall_street;_ylt=Ahlty9wVuEMysG90isP9s7ayBhIF

 

I don't see a recession until after the presidential election. The tax rebates are kicking in now and the 150 billion stimilus will be mailed in May. Consumers will keep on spending even if they are broke. If they can't take out home equity loans, they will use credit cards.

The State budget gaps for big states like California, Florida, Ohio, New Jersey and Mass. will cause these states to increase property taxes causing more morgage defaults.

Howver at the moment employment and inflation are both rising. We will have to see what money wrench the Fed throws out.

 

Most of that money went back to the IRS paying backed taxes.

 

Oil prices up after news that US ship fired on Iranian boats

 

Like I said.. You need to find someone else to annoy.. Getting all worked up over your defense of Chinese goods and labor practices is not healthy. Why not find a hobby. Join a gym, or go eat some Chinese food.

Again, what does this have to do with the topic? That's a rhetorical question, so I really don't expect and answer.

Go bug someone else for a change.

 

Naw, we are going to $500 / barrel, which is obviously completely bullish. People feel "rich" when the stuff they buy is expensive, and they like this feeling. You have to take what that bitch Mother Market gives you, and make the best of it.

Drink oil, snort fertilizer, and buy stocks. Cheers.

 

Actually, the rise in price is a good thing if you consider that fact that it might just finally force the US to think about making fuel efficient vehicles. Changing the minds of ice huggers over ANWAR. AntiNukeTards attitudes towards clean, safe nuclear power, and perhaps it might actually force us away from dependence on terrorist fuel.

The oil embargo in the 70's meant an almost overnight change in the production of gas guzzling vehicles.

I'm surprised it has taken this long for people to wake up.