United States Heading towards a Depression?

One of those countries, Mexico, has its citizens leaving the USA to go back home "in search of a better life". LINK


How about that? They come here, live illegally, send their tax free paychecks back home, and then go back...oooopss
the economy is destroyed... "I gotta go back home now". The border was a joke, now they dont need it any longer.

 

Why does he think India is ripping off US?

 

He was probably referring to so much work being outsourced to India while unemployment in the U.S. is sky high.

 

Even in that case, how is India ripping off US? It's just US companies grabbing a profitable opportunity... I didn't know that providing skilled services is ripping off now..

Egypt is ripping off US, Pakistan is ripping off US.


And it is just one side of argument, lets not forget the huge and growing market India provides to American companies.. It's global economy and open market. It is capitalism.. you give some you take some..

People who don't like capitalism are generally communist knuckleheads.

 

All those jobs in India evaporate when the dollar goes bust.

 

India's deficits and debt problems are as serious as that US. Only reason why India still isn't feeling the pain is that there are growth and inflation in the economy, which allow government to borrow more and more every year and devalues its debt respectively.

 

I think that's basically it -"It's global economy and open market".. India encourages outsourcing in this global economy. China manipulates their currency to make their products and services cheaper.

Obama has no global economic strategy. Countries are targeting the U.S. market because it is weak. Meanwhile, Obama is out campaigning because the re-election strategy for an unpopular president is to get as much face time as possible in order to cheat a bad record.

This is a short clip of Trump's interview:
http://cnn.com/video/data/2.0/video/bestoftv/2011/10/27/piers-trump-america-downhill.cnn.html

 

There are just over 300 million people in the USA. There is about a billion people in India. I can not imagine how big the bubble is that the bankers are making in India. If they are printing up money, find your own "Ron Paul" in India... fast !

 

Luckily Indian federal bank (Reserve Bank of India) functions different than American Federal bank.. There is no bubble created by banks, at least for now..

Unless you have a really good income, you won't get a loan or credit card from bank. You have to have a flawless credit report and high income to get a loan from banks.

 

I agree with you 100%. But media presentation is never based on facts. It is based on finding scapegoats. Causes division and keeps the masses from noticing the real reason why the economy is bad.

 

So just how bad are things right now?

The following are 19 statistics about the poor that will absolutely astound you....

1. According to the U.S. Census Bureau, the percentage of "very poor" rose in 300 out of the 360 largest metropolitan areas during 2010.
   
   
2. Last year, 2.6 million more Americans descended into poverty. That was the largest increase that we have seen since the U.S. government began keeping statistics on this back in 1959.
   
   
3. It isn't just the ranks of the "very poor" that are rising. The number of those just considered to be "poor" is rapidly increasing as well. Back in the year 2000, 11.3% of all Americans were living in poverty. Today, 15.1% of all Americans are living in poverty.
   
   
4. The poverty rate for children living in the United States increased to 22% in 2010.
   
   
5. There are 314 counties in the United States where at least 30% of the children are facing food insecurity.
   
   
6. In Washington D.C., the "child food insecurity rate" is 32.3%.
   
   
7. More than 20 million U.S. children rely on school meal programs to keep from going hungry.

Here is the whole list : LINK

 

Trump for president ? I'd vote for him is I was a US citizen .

 

"The amount of debt your government carries is a terrible vulnerability"
- Hu Jintao (President of Communist China), to Hank Paulson (U.S. Treasury Secretary), 2008

 

Ironic given China's the one carrying ...

 

In the book "Too Big to Fail", it explains how in 2008 Hu Jinta was approached by Russia to dump U.S. securities, debt, and corporate bonds on the open market. It would have collapsed the U.S. economy, totally and utterly.

 

We are definately headed towards a recession and I don't think it will turn into a depression but it is not going to be good in the coming months and only will be worst if we re-elect Obama. He has done nothing good and most of congress and the senate hate him and if he becomes a lame duck president he will do even less execpt galavanting all over the world on our dime.

 

The US could just as easily say, 'we're not paying' and just stop paying them back.

Or

Print more money...

In the end, the debt they are holding is worthless. Even the interest earned is negated by inflation.

 

We've been in one since at least 2008. The only way to head is back up, into a depression, or stay where we're at. You can almost double the unemployment rate as the government considers those that aren't on unemployment, whether their benefits ran out or never filed for it to be employed in their "numbers." Makes us look a lot closer to the great depression, doesn't it?

 

Corwin: That part of your statement is 100% false. Regulation of banks doesn't work that way. There aren't enough regulators to sit in every bank on every loan and lean over people's shoulders. The pure absurdity of your description is beyond belief. Frankly the Fed is and has been trying to urge and expand lending. Its been trying to do so for a while. You should get facts about lending before you make such crazy facts:

Since the recession hit and this administration has been in office they have been trying to urge loans in every possible fashion, from amazingly low rates to extra funding for lending.

Banks aren't making loans...because they aren't. Speak to borrowers. Credit is way way tighter.

and then speak to actual bankers that don't spout politically inspired crazy cr@p. Banks aren't lending because demand is down.

Could be a combination of both....but nobody is or has been looking over someone's shoulders.

But if you think so PROVE IT!!

Show us the lending process. Show us how a loan goes to a regulator before anything else is done.

Show us something that doesn't occur.

Don't make such wild @ssed crazy comments. Its unsightly and ignorant.

 

Chill, man. I am repeating what Trump said. Take a look at the link I supplied so you can hear Trump saying it.

I can tell you that I know well-off people in real estate that can't get loans from banks they have done business with for years. They are being told that every single loan is being examined in fine detail (but they didn't mention regulators).