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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. Bushranger

    Bushranger Well-Known Member

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    #8481
    What i'm talking about is our news said Bernanke was now buying back 40 billion dollars worth of the housing CDSs (credit default swaps) per month in order to restart the housing bubble.
    SEMrush
    I thought the holders of those junk bonds wrote them off in 2009. Why are they even still in the picture 3 years later?
     
    Bushranger, Sep 15, 2012 IP
    SEMrush
  2. Obamanation

    Obamanation Well-Known Member

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    #8482
    Interesting. I hadn't read he was actually buying mortgage backed securities. They most definitely do not have junk status, but their value is only as good as the housing market. Credit default swaps are what was used as insurance against foreclosures, but he is not buying CDS contracts, from what I can tell.

    One has to wonder what effect all this will have on the US housing market.
     
    Obamanation, Sep 15, 2012 IP
  3. Bushranger

    Bushranger Well-Known Member

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    #8483
    Well if they can manipulate the housing market I guess they may gain value one day. It reminds me of a clients cheque I had sitting in the drawer for a few years because every time I went to present it the teller told me not to bother as there were insufficients funds to cover it in the account. After 3 years it was thrown away, mainly to stop the heartache every time I opened the cashdraw lol. The government can wait for that day to arrive I guess. Hey, at least it's getting 'something' for the money, let's hope they're buying them at rock bottom prices, though I suspect you'll be paying top dollar for them.
     
    Bushranger, Sep 15, 2012 IP
  4. Blue Star Ent.

    Blue Star Ent. Well-Known Member

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    #8484
    Hey, do not forget that if fewer and fewer nations use the dollar for their "world currency", the printing up of those billions will bring on hyperinflation. Think Weimar and Zimbabwe.
     
    Blue Star Ent., Sep 16, 2012 IP
  5. BoBo_184

    BoBo_184 Peon

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    #8485
    If unemployment rate gets closer to 20% then yes the US will be in a depression but I don't see that happening... the world will probably get stuck in a prolonged recession... until work is found for all those unemployed... it will be a slow process...
     
    BoBo_184, Sep 16, 2012 IP
  6. Mia

    Mia R.I.P. STEVE JOBS

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    #8486
    Real unemployment is above 20%... We have been and are in a Depression.
     
    Mia, Sep 17, 2012 IP
  7. Rebecca

    Rebecca Prominent Member

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    #8487
    I just entered this contest on Obama's website, it expires tomorrow. It offers dinner with Obama, and includes airfare and hotel stay. :) It says "Winners will be notified by phone or e-mail by October 30, 2012." Just thought I would post this in case anyone else wants to enter. Whether you're a fan or foe, it would still be interesting.
     
    Rebecca, Sep 24, 2012 IP
  8. Obamanation

    Obamanation Well-Known Member

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    #8488
    I absolutely love the pay per click information farming campaigns I see plastered all over the web. I repetitively click on them and provide profanity laced contact information telling them what sexual acts they can perform on themselves. I make sure to provide legitimate addresses of Democratic State reps in Sacramento, so they can not only bask in my opinion of Obama, but also forward it to other people of whom I have the same opinion via direct mail.

    I consider it a campaign withdrawal from the DNC. Is that the same thing as a campaign contribution to the RNC?
     
    Obamanation, Sep 25, 2012 IP
  9. BRUm

    BRUm Well-Known Member

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    #8489
    So rather expectedly a lot of you republican types defend Romney. Sure he may "manage" the economy better than Obama (even though presidents shouldn't do such a thing) but what about his non-economic social and foreign policies, eh? Where is his opposition to and criticism of the PATRIOT act, socialised healthcare, the TSA, CIA, NSA, immigration or the trampling of the second and fourth amendment?

    How many of you know Romney drafted his own version of socialised healthcare in massachusetts and continuously flip-flops on abortion depending on his audience? This guy is nothing more than a rich puppet, just like the rest of them.

    The only thing you guys have going for you is the first amendment and in some states the second. The USA is incredibly unique in this regard. Whoever becomes president I hope you fight for these. Don't fall back asleep just because a Republican takes office. As soon as Obama replaced Bush all those millions of democrats who relentlessly criticised "Bush's wars" mysteriously fell silent, almost as if the wars had disappeared.
     
    Last edited: Sep 25, 2012
    BRUm, Sep 25, 2012 IP
  10. Obamanation

    Obamanation Well-Known Member

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    #8490
    I can't find anything to disagree with in your post, outside of perhaps the "puppet" characterization. I think Romney will govern by his principals, just as Obama has.
     
    Obamanation, Sep 25, 2012 IP
  11. Rebecca

    Rebecca Prominent Member

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    #8491
    LOL. You do not!? But yes, I think that would be considered a campaign contribution to the RNC. :)
     
    Rebecca, Sep 25, 2012 IP
  12. Corwin

    Corwin Well-Known Member

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    #8492
    Actually, winners are carefully selected beforehand. These are Democrats. Appearance is Everything. The winner is someone who reflects the exact demographic the Democrats want to appeal to. Probably a Latino woman.

    Um, Obama gave his strongest support for the PATRIOT act and not only enthusiastically extended it, he expanded it.

    And, personally, I'm concerned about the economy and defense and don't give a damn about anything else. If Romney can "manage" the economy better, that's what I want.
     
    Corwin, Sep 25, 2012 IP
  13. grpaul

    grpaul Well-Known Member

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    #8493
    Talking points?

    "He's a rich puppet".... What in the hell does that even mean?

    Please feel free to explain.
     
    Last edited: Sep 25, 2012
    grpaul, Sep 25, 2012 IP
  14. grpaul

    grpaul Well-Known Member

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    #8494
    [​IMG]


    What rock are you living under?

    We've been hearing about that and more for the entire 4 years Obama has been in office.
     
    grpaul, Sep 25, 2012 IP
  15. Corwin

    Corwin Well-Known Member

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    #8495
    Actually, Obama has been pretending that there is no war in Afghanistan and no war on terror.
     
    Corwin, Sep 25, 2012 IP
  16. Rebecca

    Rebecca Prominent Member

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    #8496
    Eeew, the Obama dinner conspiracy. :) I hope that's not the case.

    I thought this was interesting. According to this Politico article, Romney currently has 40% of the Hispanic vote. The article also says 51% of Catholics are supporting him, along with a majority of religious voters in general. And, surprisingly, Romney "holds a 14-point advantage (55 percent to 41 percent)" among middle class voters.

    p.s. It looks like a higher percentage of veterans are supporting Romney now as well.

    At least according to what I'm reading on Politico...

     
    Last edited: Sep 26, 2012
    Rebecca, Sep 26, 2012 IP
  17. BRUm

    BRUm Well-Known Member

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    #8497
    Yeah, I'm fully aware of that. But that doesn't change the fact that Romney has made no mention of what his thoughts on it are. If he is a decent president he'll repeal it or reduce it at least.

    What do you think it means? All presidents for the past 60 years at least have been puppets, meaning they're largely controlled by lobbyists and other powerful interest groups. Eisenhower had an interesting speech warning about the military industrial complex, which was nothing in comparison to today.

    I don't understand what this post you made is about, especially the "kool aid" picture. You do realise I'm no left-right, party-political supporter, and that I think Obama has been a worse president than Bush, right? Every president is worse than the one before. It's not even funny how apt this has become.

    Show me the mass democrat opposition to the wars today that existed when Bush was in office. All the big wig democrat sycophants who you saw on the news everyday bashing the Iraq and Afghanistan conflicts have been silent for the past few years. Remember the torturing scandal? That still goes on but when it's under Obama's command it's ok... imagine if Al-Q had Bush's support during his administration, you wouldn't hear the end of it, but under Obama they're love bombs that fell over Libya and now Al-Q are our frieeeeends..
     
    Last edited: Sep 26, 2012
    BRUm, Sep 26, 2012 IP
  18. Rebecca

    Rebecca Prominent Member

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    #8498
    He has. Romney supports it.
     
    Rebecca, Sep 26, 2012 IP
  19. Corwin

    Corwin Well-Known Member

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    #8499
    So, Obama isn't a decent President? :)

    Just kidding. Look, if you browse The PATRIOT Act you'll see that 95% of it is concerned with preventing terrorists from getting funding and stopping counterfeiting of U.S. currency. In an age where money is transferred electronically, The PATRIOT Act prevents overseas banks from inventing millions or billions of dollars in U.S. dollar deposits with just a few computer keystrokes. Think of today's banks as computer companies with banking licenses.

    Counterfeiting can tear down a country with more devastation than an atomic bomb.
     
    Corwin, Sep 26, 2012 IP
  20. BRUm

    BRUm Well-Known Member

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    #8500
    I'm sure it does have all sorts of positive claims mate, but the price to pay is your civil liberties, which I don't think is worth it. There is the "terrorism act" here in England that is only "supposed" to be used to detain "terrorists" for an indefinite amount of time without a trial, yet the pigs in London love using it to hassle tourists and threaten them with detention unless they let them rifle through their possessions.

    You can't have liberty and safety. The founding fathers knew that well.
     
    BRUm, Sep 27, 2012 IP
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