1. Advertising
    y u no do it?

    Advertising (learn more)

    Advertise virtually anything here, with CPM banner ads, CPM email ads and CPC contextual links. You can target relevant areas of the site and show ads based on geographical location of the user if you wish.

    Starts at just $1 per CPM or $0.10 per CPC.

United States Heading towards a Depression?

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

Thread Status:
Not open for further replies.
  1. Mia

    Mia R.I.P. STEVE JOBS

    Messages:
    23,694
    Likes Received:
    1,167
    Best Answers:
    0
    Trophy Points:
    440
    #3141
    Inflation took affect a long time ago. When interest rates were dropped below the inflation rate, it meant that putting money in a bank and saving it, actually cost you money.

    I'd say some inflationary affects on the economy are already in existence. Some time ago home prices actually followed the rate of inflation as well.

    Its not always inflation that cause "inflation". Sometimes its a reduction in interest rates, and a segway from traditional practices such as keeping goods and services also in line with the rate of inflation. When ever anything detracts from this unity, the affects of inflation are just the same as if the actual rate of inflation had increased.
    SEMrush
     
    Mia, Feb 9, 2009 IP
    SEMrush
  2. ncz_nate

    ncz_nate Well-Known Member

    Messages:
    3,106
    Likes Received:
    153
    Best Answers:
    0
    Trophy Points:
    153
    #3142
    I should have explained myself better, I meant specifically the effects these rounds of stimulus will produce. Would it take years as LogicFlux estimates?
     
    ncz_nate, Feb 9, 2009 IP
  3. LogicFlux

    LogicFlux Peon

    Messages:
    2,925
    Likes Received:
    102
    Best Answers:
    0
    Trophy Points:
    0
    #3143
    I didn't say years, I said after the recession. Recession and inflation typically don't go together, although there is stagflation, which I think we experienced earlier on in this recession when commodities were sky high before it was clear that we were either in or going into a recession. Deflation is a bigger threat than inflation now.
     
    LogicFlux, Feb 9, 2009 IP
  4. ncz_nate

    ncz_nate Well-Known Member

    Messages:
    3,106
    Likes Received:
    153
    Best Answers:
    0
    Trophy Points:
    153
    #3144
    If years is anything > 1, do you see this recession ending in under 12 months?
     
    ncz_nate, Feb 9, 2009 IP
  5. LogicFlux

    LogicFlux Peon

    Messages:
    2,925
    Likes Received:
    102
    Best Answers:
    0
    Trophy Points:
    0
    #3145
    I don't know. I'm not a psychic. I'm not even an economist. :D But I have a feeling it will be a year or more, so I guess the usage of years is correct.
    But to be honest I don't know what a recession is anymore so I don't know how you tell when they start and when they finish. I thought a recession was two quarters of contraction but then they said that'd we'd been in a recession since then end of '07 even though it didn't meet that criteria.
     
    LogicFlux, Feb 9, 2009 IP
  6. Mia

    Mia R.I.P. STEVE JOBS

    Messages:
    23,694
    Likes Received:
    1,167
    Best Answers:
    0
    Trophy Points:
    440
    #3146
    What the stimulus (sorry, spendulous) will effect is more spending. In other words, if this round passes, look for the retardocraps to continue creating more spending programs, and perpetuating the ones they will create with this round.
     
    Mia, Feb 9, 2009 IP
  7. sensational

    sensational Peon

    Messages:
    75
    Likes Received:
    1
    Best Answers:
    0
    Trophy Points:
    0
    #3147
    If things keep going as they are currently going we will be facing a depression!
     
    sensational, Feb 9, 2009 IP
  8. Mia

    Mia R.I.P. STEVE JOBS

    Messages:
    23,694
    Likes Received:
    1,167
    Best Answers:
    0
    Trophy Points:
    440
    #3148
    Oh, I agree wholeheartedly with that statement now. If the government keeps throwing money we don't have away at solutions we don't need, we will be in for a depression like the world has ever seen.

    It was the WWII, not the New Deal that got us out of the last one. Pelosi and Reid are going to put us all int he poor house.
     
    Mia, Feb 10, 2009 IP
    guerilla likes this.
  9. bogart

    bogart Notable Member

    Messages:
    10,911
    Likes Received:
    509
    Best Answers:
    0
    Trophy Points:
    235
    #3149
    Newt Gingrich is predicting a couple of years. Inflation won't happen overnight but once it kicks in you won't know what hit you. I think that inflation is the plan to solve the housing crisis. The plan is to inflate all the prices so that they catch up to housing.

    Wall Street is trying to bail themselves out. There really isn't any difference between Paulson and Geithner. He came to Congress with a set of goals and no plan. We already had that with TARP I. Geithner is doing an end run around Congress and using the FED to spend another $1 trillion. At the same time he is asking Congress for more money and we are going to spend $1 trillion on the Nncy Peolsi wish list aka stimulus.

    The fact is that we are getting onto the business of trying to control housing prices against the market.

    Roubini is prediciting that the S&P will fall to 625.
     
    bogart, Feb 10, 2009 IP
  10. domainer_10

    domainer_10 Peon

    Messages:
    1,720
    Likes Received:
    24
    Best Answers:
    0
    Trophy Points:
    0
    #3150
    We used to have very steep recessions, if not mini depressions before 1929. If you look back at the history there were many that lasted 2 years. WE haven't had one that long in the postwar era. Then they started meddling with things in the 30's and we got a great depression that time.

    this would normally be a tiny short depression or severe recession for a couple years. But because the government is trying to artificially inflate the bubble again with spending, bailouts, and lowering credit standards we are headed for another long drawn out depression I strongly believe.
     
    domainer_10, Feb 10, 2009 IP
    guerilla likes this.
  11. bogart

    bogart Notable Member

    Messages:
    10,911
    Likes Received:
    509
    Best Answers:
    0
    Trophy Points:
    235
    #3151
    The double dip recession of 1980 and '81-82 was worse than current recession so far to date.

    The current situation compares to the Panic of 1907.
     
    bogart, Feb 10, 2009 IP
  12. ncz_nate

    ncz_nate Well-Known Member

    Messages:
    3,106
    Likes Received:
    153
    Best Answers:
    0
    Trophy Points:
    153
    #3152
    ncz_nate, Feb 11, 2009 IP
  13. bogart

    bogart Notable Member

    Messages:
    10,911
    Likes Received:
    509
    Best Answers:
    0
    Trophy Points:
    235
    #3153
    bogart, Feb 11, 2009 IP
  14. Mia

    Mia R.I.P. STEVE JOBS

    Messages:
    23,694
    Likes Received:
    1,167
    Best Answers:
    0
    Trophy Points:
    440
    #3154

    I suppose, but its like 700-800 and at the "head quarters" which likely means management, not the greeters, checkers, stockers and managers of individual stores.

    In fact, if you read the entire story, they go on to say they are going to be hiring more than they are firing.

     
    Mia, Feb 11, 2009 IP
  15. Firegirl

    Firegirl Peon

    Messages:
    1,257
    Likes Received:
    105
    Best Answers:
    0
    Trophy Points:
    0
    #3155
    I hear Sirius is going to file for bankruptcy. So far, they are saying it's not going to affect service except for the fact they might break high-priced contracts with people like Howard Stern and Martha Stewart. I'm glad I didn't buy hardware and subscribe to them now!
     
    Firegirl, Feb 11, 2009 IP
  16. bogart

    bogart Notable Member

    Messages:
    10,911
    Likes Received:
    509
    Best Answers:
    0
    Trophy Points:
    235
    #3156
    Walmart will be cutting back heavily on opening new stores.

    The amount of announced layoffs will be hitting the economy hard over the next six months.

    Starbucks to close 300 stores (200 in the US) and laying off 6,700 store workers.
    http://www.gather.com/viewArticle.j...7578047&grpId=3659174697244817&nav=Groupspace

    * Caterpillar Inc., the world leader in heavy construction equipment, announced 20,000 layoffs for the first quarter of 2009.

    * The drugmaker Pfizer Inc. said it will lay off 8,000 workers, the first casualties of the firm's $68 billion takeover of rival pharmaceutical corporation Wyeth.

    * SprintNextel, the cell phone carrier, will cut 8,000 jobs, or 14 percent of its workforce, by the end of March. It eliminated 4,000 jobs little more than a year ago.

    * Home Depot Inc., the largest US home improvement retailer, said it will cut 7,000 jobs and shutter 34 of its Expo home design stores.

    * General Motors, the embattled auto giant, announced 2,000 more layoffs affecting plants in Ohio and Michigan, where the unemployment rate has already climbed past 10 percent.

    * Texas Instruments Inc., after announcing a precipitous decline in profits, said it would eliminate 3,400 jobs.

    * Phillips Electronics, the Dutch electronics giant, said it would cut 6,000 workers from its worldwide workforce.

    * Corus Group, a steelmaker, said it would eliminate 3,500 jobs, 2,500 of which will come in Britain.

    * The Dutch bank ING announced the elimination of 7,000 jobs after it reported its first-ever quarterly loss.
    http://www.wsws.org/articles/2009/jan2009/econ-j27.shtml

    ArcelorMittal 02/11/2009 9,000 3%
    GM 02/10/2009 10,000 14%******
    UBS 02/10/2009 2,000 2.6%
    Qwest Communications International 02/10/2009 1,700 11%
    Nissan Motor 02/09/2009 20,000 8%
    Estee Lauder 02/05/2009 2,000 6%
    Time Warner Cable 02/04/2009 1,250 3%
    Panasonic 02/04/2009 15,000 5%
    Electronic Arts 02/03/2009 1,100 11%
    PNC Financial Services Group 02/03/2009 5,800 10%
    King Pharmaceuticals 02/03/2009 760 22%
    Liz Claiborne 02/03/2009 725 8%
    SAS AB 02/03/2009 9,000 40%
    Macy’s 02/02/2009 7,000 4%
    NEC 01/30/2009 20,000 7%
    Hitachi 01/30/2009 7,000 2%
    Eastman Kodak 01/29/2009 4,500 18%
    Bon-Ton Stores 01/29/2009 1,150 3%
    Black & Decker 01/29/2009 1,200 5%
    AstraZeneca 01/29/2009 7,400 11%
    Ford Motor Credit 01/28/2009 1,200 20%
    Starbucks 01/28/2009 6,700 4%
    Boeing 01/28/2009 10,000**** 6%
    Jabil Circuit 01/28/2009 3,000 4%
    SAP 01/28/2009 3,000 6%
    STMicroelectronics 01/28/2009 4,500 9%
    Corning 01/27/2009 3,500 13%
    Cooper Industries 01/27/2009 2,200 7%
    Clariant 01/27/2009 1,000 5%
    Texas Instruments 01/26/2009 3,400 12%
    Molex 01/26/2009 9,300 29%
    Caterpillar 01/26/2009 20,000 18%
    Home Depot 01/26/2009 7,000 2%
    Sprint Nextel 01/26/2009 8,000 13%
    Pfizer 01/26/2009 8,300 10%
    ING 01/26/2009 7,000 5%
    Philips Electronics 01/26/2009 6,000 5%
    Corus 01/26/2009 3,500 10%
    Harley-Davidson 01/23/2009 1,100 11%
    Microsoft 01/22/2009 5,000 5%
    Huntsman 01/22/2009 1,175 9%
    Intel 01/21/2009 6,000*** 7%
    UAL 01/21/2009 1,000 2%
    Eaton 01/20/2009 5,200 6%
    Bose 01/20/2009 1,000 10%
    Rohm & Haas 01/20/2009 900 5.7%
    Clear Channel 01/20/2009 1,850 9%
    ConocoPhillips 01/16/2009 1,300 4%
    Circuit City 01/16/2009 34,000 100%*
    Pfizer 01/16/2009 3,200** 3%
    AMD 01/16/2009 1,100 9%
    Hertz Global Holdings 01/16/2009 4,000 13%
    Wellpoint 01/16/2009 1,500 3.6%
    Saks 01/15/2009 1,100 9%
    MeadWestvaco 01/15/2009 2,000 10%
    Autodesk 01/15/2009 750 10%
    Motorola 01/14/2009 4,000 6%
    Barclays 01/14/2009 2,100 1.3%
    Neiman Marcus 01/13/2009 375 3%
    Cummins 01/13/2009 800 2%
    Seagate Technology 01/12/2009 800 10%
    Cessna 01/12/2009 2,000 N/A
    Walgreen 01/08/2009 1,000 0.6%*****
    Lenovo Group 01/08/2009 2,500 11%
    EMC 01/07/2009 2,400 7%
    Logitech International 01/06/2009 500 5%
    Alcoa 01/06/2009 15,000 14.5%
    Cigna 01/05/2009 1,100 4%

    http://blogs.wsj.com/economics/2009...ffs-selection-of-job-cuts-by-major-companies/
     
    bogart, Feb 11, 2009 IP
  17. Mia

    Mia R.I.P. STEVE JOBS

    Messages:
    23,694
    Likes Received:
    1,167
    Best Answers:
    0
    Trophy Points:
    440
    #3157
    I'm glad you mention this. This is another thing that steams my ass!

    http://www.reuters.com/article/newsOne/idUSTRE51980920090210

    BTW, these bastards tried to extort 3 years of PREPAYMENT out of me, telling me that I could pay them another $8.99/mo. or I could prepay them up to 3 years to guarantee my current rate, which is already ridiculously overpriced IMO.

    Prices listed are for 1, 2, and 3 years respectively.

    What really pisses me off is that the SEC let these fucktards merge. So in a sense all competition was removed and any motivation to create an environment that allowed for market forces to dictate prices was completely averted. This should really come as no surprise though given that this same organization failed to see that Madoff was bilking people for all they had with the promise of ridiculous returns.

    I'm cancelling XM.
     
    Mia, Feb 11, 2009 IP
  18. Firegirl

    Firegirl Peon

    Messages:
    1,257
    Likes Received:
    105
    Best Answers:
    0
    Trophy Points:
    0
    #3158
    See, with lists like these, we really can't judge how bad the job loss is going to be. For example, you have Intel listed. They may have cut 5,000+ jobs last month, but they will soon be adding at least 7,000+ jobs when they start upgrading a few of their plants: http://www.koat.com/money/18689011/detail.html.

    So how can we see who's really cutting jobs or just restructuring and adding more jobs later?
     
    Firegirl, Feb 11, 2009 IP
  19. earlpearl

    earlpearl Well-Known Member

    Messages:
    3,584
    Likes Received:
    150
    Best Answers:
    0
    Trophy Points:
    155
    #3159
    Firegirl: The monthly reports about job losses are NET totals.

    They (the bureau of labor statistics) adds up the new hires and subtracts out the firings. For instance in January they reported a net of 597,000 people lost jobs.

    There are industries that are doing hiring and certainly different businesses are doing some hiring.

    But the net for January meant that MORE than 597,000 people lost jobs in America.....and some number between that one and the 597,000 were hired.

    If Intel fires 2,000 and hires 1,000 they'll end up reporting that as a NET loss of 1,000 jobs.

    In this last 12/13 months the net loss has been huge-- over 3 million.
     
    earlpearl, Feb 11, 2009 IP
    guerilla likes this.
  20. domainer_10

    domainer_10 Peon

    Messages:
    1,720
    Likes Received:
    24
    Best Answers:
    0
    Trophy Points:
    0
    #3160

    Agree, the 1980s and 70's were actually worse, but we are very quickly getting close to the point where we are already just as bad as they were. Then after that point we will get worse and be headed towrads a depression.
     
    domainer_10, Feb 11, 2009 IP
Thread Status:
Not open for further replies.