Bear Stearns Crashing Dollar Sub Prime Housing Trillions dollars lost in prosecuting Iraq War et al Is this deja vu 1932 all over again? http://www.cityjournalistdirectory.com/event/unemployed_worker_1932_g/ Comments :-
you forgot gas prices eating everyone's lunch....meanwhile oil companies make record profits every quarter
It depends on how your local economics depends on america. Because america is the land where a president has destroyed the economic by pressing extra dollars to finance his war games.
Its a lot more complex than just Bush, but he is a big factor in the mess he prosecuted a pointless war and has thrown away trillions of dollars Another in the mix is UK which is running on empty and they prosecuted the same war
that's what I am saying, the other guy just made it sound Bush got into Iraq just to amuse himself. America is a big chunk of the problem but what about China? They are the new Canada if you ask me...blame China! Seriously though how much stuff do they counterfeit/pirate every year? A few trillion $ worth of stuff?
You are right big problems looming here big time, not least the big issues right now today in Tibet And this is only the start ---- it's Olympic Year too --------- already talk looming on boycotts etc
China likes to "keep it in the family"...they might have to kill another 133 people to "restore order" but of course they'll only report 7 boycotts only hurt the athletes IMO
Every day in see all around newspapers that US and EU are facing stormy times... and i remember quite well a economist, a year or two ago, saying that "oil will reach 100 dollars"; then everybody laugh, now everybody cries.
Stop freaking out and over reacting on a few short term news. Lets see what the government can come up with in the mean time...
Some newspapers appear to be starting to talk about an economic depression. They look to signs like bailing out Bear Stearns, which has not been done in such a way since the Great Depression. http://www.independent.co.uk/news/b...t-fears-for-next-great-depression-796428.html I think that the United States is simply seeing a permanent transfer of wealth. And the USA economy will never return to the powerhouse it once was. Failed trade policies are mostly to blame, and both Democrats and Republicans were involved. Look at Bush's economic stimulus package, which will give many Americans extra money. If you get $1200 and buy a tv, a small percentage of the money goes to the retail store which supports low paying retail jobs. The larger percentage of money goes to China (or whever the tv was manufactured) and supports better paying manufacturing jobs. China will get more economic stimulus from this tax rebate then the USA. The US does not control its economic future anymore since much of the manufacturing moved overseas. This is a sad reality. All the other problems in the US economy only make matters worse and also make it more difficult to avoid an economic train wreck.
Did you hear about the IRS? in hopes of wetting people appetites to run out and spend their rebate checks, the ever efficient IRS sent out notifications that the checks would be mailed out soon... price tag for that little mailer....$43million
Its like a cycle.People will spend a lot and will make so many debt.Then they will press the brake and depression will come.They will reduce their luxuries and will be busy to fill up the debt. Its a natural thing.I talked with some businessmen and they said depression is good for economy.When people spend a lot the price increases.On the other hand during depression price will decrease as people won't have enough money to buy.So if you didn't waste too much and saved some money then you can buy some good things with cheap price during depression.If depression really starts then it will stay for about 6-7 years.But its still not sure.Time will say.
The worse is yet to come guys. The day America declares its in recession, you will see more turmoil. Its near, with some analysts predicting the recession to be as long as 10 years, similar to the great recession of 1929. I pray to god the above does not happens.
Yes, they certainly find creative ways to waste our money! The best waste of money came from Congressman Dennis Kucinich of Ohio. I sent him an E-mail a couple of years ago. He just happened to respond just in time for this election (two years later). The letter briefly responded to my complaint while the other part of the letter talked about more work to be done and his re-election. These politicians sure know how to use the mail service at taxpayers expense.
This is sure not the 'Great Economic depression of 1929' but only blown out of proportion by media all over the world. It's obvious in any cycle--> You go up then you come down. You can't just keep on going up!! But this time it's just intensified more by the media and hence it's giving a virtual effect of "Great Depression". Also, it's quite common that "When US sneezes, the world catches cold!" as said by a noted economist in my country. Most affected by this will be countries like India, whose GDP will drop down to 7% this year from the current 9%+ since last four years ! Industrial growth already dropped to 5.3% as quoted in newspapers!