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United States Heading towards a Depression?

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

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  1. gworld

    gworld Prominent Member

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    #2101
    There are many international companies that are removing their listings from American stock exchanges since U.S. market is not that important to them anymore. That fact by itself tells a lot about the state of U.S. ;)
    SEMrush
     
    gworld, Jul 3, 2008 IP
    SEMrush
  2. guru-seo

    guru-seo Peon

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    #2102
    Oil hits another record at $146 today.
     
    guru-seo, Jul 3, 2008 IP
  3. guerilla

    guerilla Notable Member

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    #2103
    It's just a correction. :D
     
    guerilla, Jul 3, 2008 IP
  4. guru-seo

    guru-seo Peon

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    #2104
    Yep. I should go buy me another house on a jumbo loan. :) Mia is right, times are peachy.
     
    guru-seo, Jul 3, 2008 IP
  5. smatts9

    smatts9 Active Member

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    #2105
    I just bought a neighborhood in California with a bushel of corn I stole on my way through Nebraska. I intend on bulldozing it all down, digging out a big hole and filling it up with oil. Since my bathtubs, pool, neighbor's pool, sinks, fish tanks, cups, bowls, septic tank (I just squat in the yard now when I do my "thang"), etc. are all full with oil I needed to expand and California seemed ideal.
     
    smatts9, Jul 3, 2008 IP
  6. ncz_nate

    ncz_nate Well-Known Member

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    #2106
    lol smatts who's that guy in your avatar? i laugh every time i see it.
     
    ncz_nate, Jul 3, 2008 IP
  7. bogart

    bogart Notable Member

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    #2107
    The Clinton/Greenspan stock/housing bubble is not going to unwind overnight. For the last 15 years people have been using the stock market and their houses as am ATM machines. There's still a lot unwinding to go.

    Unemployment will continue to drive the financials down. There is a lot of bad news in housing. More than one million homes are now in foreclosure and 1.2 million prime mortgages are now a month or more past due. In June there were 62,000 cuts in payroll and the economy has lost a total of 438,00 jobs, an average of 73,000 a month. This week people collecting unemployment has increased 16,000 to 404,000. We are starting to see a snowball effect and it's going to get worse.

    On the plus side exports are up and manufacturing is increasing. People need to work more and spend less. Before Clinton, the econony was 60% personal spending and today it has grown to an unsustainable 70%. We are running on bs funding sonsumer spending with stimilus checks. There is already talk of a second stimilus. No wonder oil is now at $145.
     
    bogart, Jul 3, 2008 IP
  8. wilhb81

    wilhb81 Active Member

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    #2108
    Well, I think the oil price will hit the $150 in this mid or end of July...
     
    wilhb81, Jul 3, 2008 IP
  9. guerilla

    guerilla Notable Member

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    #2109
    Bogart, I saw the shot at Clinton. I'm curious to know if you think Reagan, Bush 41 and 43 are responsible at all for the deficit spending and expansion of the monetary supply.

    Because these bubbles were caused by low, low credit rates, which are only achieved with the FED increasing the supply of new credit (inflation).

    On financial issues, you and I are like 95% on the same page.
     
    guerilla, Jul 3, 2008 IP
  10. bogart

    bogart Notable Member

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    #2110
    Reagan's priority was winning the cold war and the House was controlled by the Democrats. So there wasn't much choice but to have guns and butter. Bush 41 did a good job but he was blown out of the water with balanced budget agreement. Bush 43 doesn't have the popularity to get anything done in Washington. Bush vetoed the $300 billion farm bill and Congress overrode his veto.

    The main plus on the Bush 43 side is the appointments of Roberts and Alito to the supreme court.
     
    bogart, Jul 3, 2008 IP
  11. guerilla

    guerilla Notable Member

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    #2111
    Clinton didn't control the House.

    C'mon Bogart, throw me a frickin bone over here. :D
     
    guerilla, Jul 3, 2008 IP
  12. gworld

    gworld Prominent Member

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    #2112
    This Bush must be the most useless president in the last 30 decades since according to you he doesn't have any effect on anything beside deciding to go to war and torture people which was also a failure. :rolleyes::D
     
    gworld, Jul 4, 2008 IP
  13. gauharjk

    gauharjk Well-Known Member

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    #2113
    I just read Mr Kames Kunstler's Blog, where he said

     
    gauharjk, Jul 4, 2008 IP
  14. ncz_nate

    ncz_nate Well-Known Member

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    #2114
    Can someone tell me what would happen if OPEC converted to euros? What incentives do they have to do it and when would that happen. Also, how would it effect us?
     
    ncz_nate, Jul 4, 2008 IP
  15. guerilla

    guerilla Notable Member

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    #2115
    No one can say for sure. It would undermine the dollar as reserve currency of the world significantly.

    If that got bad enough, you could see divestment of US dollar denominated assets and reserves, which would flood money back into the US, triggering crippling hyper inflation as more dollars chased the same (and soon declining) number of goods.
     
    guerilla, Jul 4, 2008 IP
  16. Mia

    Mia R.I.P. STEVE JOBS

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    #2116
    Hmm... I'm not the best at math, but I don't think we had presidents 300 years ago. You do realize the US just turned 232 (depending on where you count from).

    You never cease to amaze me. Sometimes, the things you say, you make me laugh so hard it hurts.

    Thanks for yet another laugh.

    In reality, no, Bush has not been useless. Quite to the contrary, he has been one of the most productive and busiest. Always on time, and up at the butt crack of dawn. Quite a bit has been accomplished in a short time, especially when you consider what we was left with, and what was thrust upon him as a result.
     
    Mia, Jul 5, 2008 IP
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  17. ncz_nate

    ncz_nate Well-Known Member

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    #2117
    I get what you're saying, and agree, he was a useful idiot :D.
     
    ncz_nate, Jul 5, 2008 IP
  18. ferret77

    ferret77 Heretic

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    #2118
    honestly at this point, I can't even believe you are serious
     
    ferret77, Jul 5, 2008 IP
  19. guru-seo

    guru-seo Peon

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    #2119
    Come on let's give Bush some credit for at least still having a couple of idiot supporters out there. In some small circles that would still be considering quite an accomplishment. Duhh!!!
     
    guru-seo, Jul 5, 2008 IP
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  20. gworld

    gworld Prominent Member

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    #2120
    I remember that you were praising him for increasing your welfare check, so you could buy a house but even you must understand that after what has happened to real estate in USA, may be it wasn't such a good thing that he did for you. ;)
     
    gworld, Jul 7, 2008 IP
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