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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. bogart

    bogart Notable Member

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    #4061
    It's going to get better before it gets worse. The US is going through a similiar cycle to what had occurred after the 1973-1975 recession. After the '73-75 recession the money supply was increased 112% and the economy was showing good improvement into 1978-1979. In 1979 the unemployment rate actually decreased to 5.6%. But at the same time, the writing was on the wall. Gold hit $1000 an oz and Gasoline had doubled in price from 55 cents to $1.10.

    The situation that we are now in is worse. The money supply has increased 120% and the Democrats are still inflating the housing bubble. The FHA is giving out 3% down loans that effectively 0%; because, you can include the closing costs in the loan amount.

    The Government can keep printing money to cover the loses of Fannie Mae, Freddie Mac and the FHA. But at some point in the next 18 months, inflation will start to kick our butt.
     
    bogart, Dec 4, 2009 IP
  2. Mia

    Mia R.I.P. STEVE JOBS

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    #4062
    Meanwhile Bernanke has the balls to go on TV yesterday and tell everyone how he has single handedly kept inflation down.

    Meanwhile, on the subject of Fannie? My neighbor who spends half the year on unemployment told me about these great opportunities down in Florida that Fannie has. No money or little money down, no closing fees, no nothing for home people defaulted on under the old Fannie. On top of that Fannie will give you another $30k towards fixing the places up.

    In other words, lets just start the fucked up cycle over again. Unbelievable.
     
    Mia, Dec 4, 2009 IP
  3. Blogmaster

    Blogmaster Blood Type Dating Affiliate Manager

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    #4063
    Blogmaster, Dec 4, 2009 IP
  4. Blogmaster

    Blogmaster Blood Type Dating Affiliate Manager

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    #4064
    [​IMG]
    [​IMG]
     
    Blogmaster, Dec 4, 2009 IP
    Mia likes this.
  5. earlpearl

    earlpearl Well-Known Member

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    #4065
    With regard to the title of this thread it appears that following a horrendous recession, caused by an incredible explosion of private debt during the Bush administration, supported by the admnistration's policies and those of the extreme Right Wing, massive amts of federal govt aid has averted a depression for the time being.

    Despite the screaming of Right Wingers, first the Bush administration and then the Obama administration have poured in excess of trillions of dollars into the economy.

    If faced the brink of financial disaster in September '08, Tarp was created despite the protests of Right Wingers and GOP (puppets) members of Congress, hundreds of billions of dollars were thrown at financial instittutions and the freezing of financial institutions was turned around.

    Even as the private economy was grounding to a halt and shrinking horrendously, fed funds were applied in many areas, and the shrinking, shrinking shrinking of the economy, which started under the Bush administration has finally turned around.

    All of which is to say that things aren't rosy. The US economy has shrunk, there still remains too much debt, assets have lost enormous values....and the efforts by the Feds under both Bush and Obama have created significant levels of debt which will create new problems going forward.

    For the current period though it is clear that the horrendous downward spiral has ended.

    Now we will have to look forward toward new problems.

    Its typical of the Right Wing to cry and blame. Lets not forget under which administration this crisis developed, under whose financial guidelines (the Right Wing) that financial entities and real estate entities were allowed to trillions of inappropriate debt, and how as the crisis evolved the prevailing attitude of the Right Wing was preventing any emergency actions in the months leading to the melt down of the financial world in 09/08.
     
    earlpearl, Dec 10, 2009 IP
  6. Obamanation

    Obamanation Well-Known Member

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    #4066
    With logic like that, its amazing you claim to work with numbers for a living.


    I'd have never guessed you for a Bush fan. You should hold back from putting things like this to print. It will ruin your ability to accuse Secretary Paulson of handing out free money to his cronies in the financial services industries. I'm sure you'll figure out a way to make it work, with your logic skills.


    Apparently you missed this weeks new jobless claims. 474,000 newly jobless this week, up dramatically from last week. Wait till all the temp seasonal workers are laid off at the end of December.

    On this we can agree. You must smoke a lot of herb. I can almost get a whiff of it through my browser. When I read your posts, I almost get a contact high.;)
     
    Obamanation, Dec 10, 2009 IP
  7. Mia

    Mia R.I.P. STEVE JOBS

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    #4067
    Let me help.

     
    Mia, Dec 10, 2009 IP
  8. Obamanation

    Obamanation Well-Known Member

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    #4068
    http://www.washingtonexaminer.com/o...rgeted-to-states-that-need-jobs-79530417.html

    According to the Mercatus center at George Mason University:
    I'm just glad that every taxpayer got to contribute to the Democrats, regardless of their political party or wishes. Considering the large number of low income people pay no taxes and vote Democrat, it was like a giant Republican donation to the Democrat political party. Its good to know the government is considering another round of "stimulus", just in time for the 2010 election cycle. When you factor in the 10% unemployment rate (projected to be 11% soon), the word immoral doesn't even begin to describe it.
     
    Obamanation, Dec 18, 2009 IP
  9. Corwin

    Corwin Well-Known Member

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    #4069
    1. The Democrats have spent enough money on "economic recovery" to give to each and every household in the USA $27,000 (twenty-seven THOUSAND dollars).
    ($3 Trillion ÷ 111 Million households = ~$27,000 per household)
    2. In order for the USA to reach an acceptable 5% unemployment, the economy must create 270,000 NEW jobs EVERY month for the next FIVE YEARS!!!
    3. Smart traders that I know tell me that the economy won't begin to create jobs until 3Q2010.
    4. Bankers that I have met and asked tell me that the economy won't start to create new jobs until 2Q2011 - they insist that the economy will bleed jobs for all of 2010.

    No one can point to a single triggering event that will make things better. Damn, my AdSense revenue is down 60%!

    One thing's for sure - the Democrats seem to have declared war on the small businessmen. They've taken the big bribes from the big corporations and they are now in the process of driving the small businesses out of business - to the benefit of Big Business.
     
    Last edited: Dec 27, 2009
    Corwin, Dec 27, 2009 IP
  10. bogart

    bogart Notable Member

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    #4070
    The Housing Crisis is over

    1) December's sales fell 16.7 percent to a seasonally adjusted annual rate of 5.45 million
    2) prices plunged by more than 12 percent in 2009 — the sharpest fall since the Great Depression.

    http://www.msnbc.msn.com/id/35058162/ns/business-real_estate

    3) With a mountain of specialized adjustable-rate mortgages, known as option ARMs and certain Alt-A mortgages, slated to reset over the next 12 to 18 months and unemployment projected to hit 10.5% this year, the number of homeowners defaulting on their mortgages is expected to surge. At least $64 billion in option ARMs will reset in 2010 and another $68 billion in 2011, according to First American CoreLogic, a real estate and mortgage-data company.

    Read more: http://www.time.com/time/business/article/0,8599,1952132,00.html#ixzz0deiUBsRs


    http://www.time.com/time/business/article/0,8599,1952132,00.html
     
    bogart, Jan 25, 2010 IP
  11. Blogmaster

    Blogmaster Blood Type Dating Affiliate Manager

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    #4071
    as long as Bernanke gets a green light from both parties, things will continue to decline
     
    Blogmaster, Jan 26, 2010 IP
  12. Corwin

    Corwin Well-Known Member

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    #4072
    Hey, Obama has a solution! Congress freezes all Federal spending!

    Oh, wait - it goes into effect in 2011 - which, if the trend continues, will be the Republican Congress.

    So... Democrats can spend with wanton abandon for all of this year. But when the Republicans take over, he wants them to voluntarily freeze spending????
     
    Corwin, Jan 26, 2010 IP
  13. Mia

    Mia R.I.P. STEVE JOBS

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    #4073
    Ironic how all the spending and economic downfall occurred whilst Democrats controlled the government in the last two years of his term. Now they are in complete control and spending has increased 1000 fold!
     
    Mia, Jan 26, 2010 IP
  14. Blogmaster

    Blogmaster Blood Type Dating Affiliate Manager

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    #4074
    according to economist Celente, Obama's Presidency will end in a revolution. Food riots, chaos. I complete bottom.

    A fake boom causing Americans to invest and then lose everything.

    Far fetched?

    If O's approval rating keeps dropping at the same speed, no. Time will tell.

    Here is GC: http://firetown.com/blog/2010/01/26/gerald-celente-predicts-revolution/
     
    Blogmaster, Jan 27, 2010 IP
  15. Mia

    Mia R.I.P. STEVE JOBS

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    #4075
    The good thing in all this is that so far everyone I know that voted for Obama has come to realize what a fucking retarded moron he really is.

    Its kinda ironic when union member die hard dems are wishing there was a 3rd Term Bush!

    Sad.

    In the end, between Virgina, NJ, and now Mass, the mid terms will be a HUGE game changer. Larger than the Contract with America and Republican revolution of 94', where they were able to stop Clinton before he did the same.

    Hopefully this time around the party recognizes its roots are grounded in conservatism, not progressivism, neo-whateverism, or RonPaulism.
     
    Mia, Jan 27, 2010 IP
  16. bogart

    bogart Notable Member

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    #4076
    I don't believe that there will be food riots. But you never know. People are used to buying processed meals and foods. The average person couldn't produce a meal from the basic staples of beans, rice, corn, wheat, diary with a small amount of protein per person. People feel entitled so that could spark riots.

    I'm more of the belief that the Government will keep printing money. Who knows where that we led us.

    1929 And Today - Sobering Parallels Abound

    Investors that care to harken back 80 years will find that the 1929 - 1932 era is the only period of time that compares to today. In fact, the parallels between now and then are bountiful and scary.
    http://finance.yahoo.com/news/1929-And-Today-Sobering-etfguide-2101131945.html?x=0

    U.S. to Lose $400 Billion on Fannie, Freddie
    http://www.bloomberg.com/apps/news?pid=20601087&sid=a2Z5GnTAPcuo


    Commercial real estate is expected to remain a drag on the U.S. economy through 2010 and beyond.

    4.9 percent of commercial mortgage-backed securities were delinquent in 2009.

    Loan performance is expected to deteriorate further and the delinquency rate will reach 8-9 percent by the end of 2010."
    http://www.mcclatchydc.com/226/story/82977.html?storylink=omni_popular
     
    bogart, Jan 27, 2010 IP
  17. Mia

    Mia R.I.P. STEVE JOBS

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    #4077
    Mia, Jan 27, 2010 IP
  18. Corwin

    Corwin Well-Known Member

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    #4078
    If any of you missed last night's The Daily Show, catch the rerun at 7pm EST. The guest is Elizabeth Warren, chair of the Congressional Oversight Panel. She discusses how the major banks control Congress and the SEC - when the banking industry has a virtually unlimited amount of money to spend, they can buy off anybody.

    "Few men have virtue to withstand the highest bidder"
    George Washington
     
    Corwin, Jan 27, 2010 IP
  19. Blogmaster

    Blogmaster Blood Type Dating Affiliate Manager

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    #4079
    Most of my liberal friends who voted for him are disappointed. I am not sure they are really understanding just to which degree they have been deceived, but they are waking up. This is why I cannot lose hope in America.
    Like Churchill said: "Americans will always do the right thing. After trying everything else."

    Yes if it happens and it might that the American people will be tricked into investing their money and hope one last time and enthusiastically and then lose everything, I am not sure if we will indeed hit a point of no return. Especially these days when technology is there to keep the people under control should things get out of that.

    I am not going back into conspiracy theories and doom and gloom, but I am watching, and I see the same people who have caused us to be in this mess still controlling this very government. People don't realize it. It's bad cop/good cop.


    Who's next?
     
    Blogmaster, Jan 28, 2010 IP
  20. ncz_nate

    ncz_nate Well-Known Member

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    #4080
    Good. Now you'll be able to use that energy productively. :cool:
     
    ncz_nate, Jan 28, 2010 IP
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