Economic Freefall

2008-01-14 19:47:25

#1

ATG: Banned; +5,233|6964|Global Command

While normally, I wouldn't wipe my arse with the L.A. times, there is not much here that I disagree with.

Americas economy is in the toilet, heading down the sewer and I believe we are on the eve of a major economic disaster.

I fault the article only in it's focus of blame on Republicans. I don't recall the Democrats doing or saying anything that has done anything but stack wood on the funeral pyre of our quality of life.

No one wants to utter the word "depression." But the truth of the matter is that the American economy may be entering a state of free fall. Every day brings more bad news about the sub-prime mortgage debacle, about home foreclosures, construction industry slowdowns, a credit drought for consumers and businesses, oil price shocks and the open-ended devaluation of the dollar. Where is it all leading?

2008-01-14 19:51:07

#2

some_random_panda: Flamesuit essential; +454|6825

The one upside is that China will help slow the depression and create some sort of cushion. The main downside is that it still wouldn't be enough.

2008-01-14 19:52:13

#3

CommieChipmunk: Member; +488|7004|Portland, OR, USA

truly a scary time..

2008-01-14 19:58:30

#4

ATG: Banned; +5,233|6964|Global Command

My company December receipts 2006 = $78,731.00

My company December receipts 2007 = $36,587.00

It feels like the end of the world man.

2008-01-14 19:59:39

#5

Catbox: forgiveness; +505|7151

the world will end on Feb 7th

Last edited by [TUF]Catbox (2008-01-14 20:01:33)

Love is the answer

2008-01-14 20:00:22

#6

Mason4Assassin444: retired; +552|7097|USA

ATG wrote:
My company December receipts 2006 = $78,731.00

My company December receipts 2007 = $36,587.00

It feels like the end of the world man.

The current front runners aren't making it look any better either.

2008-01-14 20:00:27

#7

NeXuS: Shock it till ya know it; +375|6776|Atlanta, Georgia

You guys think we can recover from it like back in the day?

2008-01-14 20:01:29

#8

Mason4Assassin444: retired; +552|7097|USA

NeXuS4909 wrote:
You guys think we can recover from it like back in the day?

We'll recover. People will hang though. But by the time we realize who to hang they'll be in Dubai sipping wine after lobster.

2008-01-14 20:03:46

#9

Catbox: forgiveness; +505|7151

hopefully Hillary will win and raise taxes so everyone will have healthcare at least...lol

we will make it through this... we always do... we always step up when our backs are up against the wall...

Love is the answer

2008-01-14 20:05:35

#10

RoosterCantrell: Goodbye :); +399|6914|Somewhere else

I think it may be a needed wake up call to the people who live off of credit and believe in what the advertisementes tell us we need. I am betting that the U.S. being number one is soon to be forever over.

hopefully, this whole shitstorm won't be too bad, we'll be able to recover, the guilty ones will walk, but maybe we can patch some of the holes that have been leaking for decades.

2008-01-14 20:06:15

#11

Mason4Assassin444: retired; +552|7097|USA

[TUF]Catbox wrote:
hopefully Hillary will win and raise taxes so everyone will have healthcare at least...lol

we will make it through this... we always do... we always step up when our backs are up against the wall...

Think about it this way. We pay 30% tax in the US. Thats 4 months income right? Canada pays 50% and everyone has healthcare. Im not advocating socialized healthcare. I just wonder where exactly our 30% goes.

2008-01-14 20:10:33

#12

ATG: Banned; +5,233|6964|Global Command

China will now destroy Detroit

2008-01-14 20:11:51

#13

Catbox: forgiveness; +505|7151

Mason4Assassin444 wrote:
[TUF]Catbox wrote:
hopefully Hillary will win and raise taxes so everyone will have healthcare at least...lol

we will make it through this... we always do... we always step up when our backs are up against the wall...
Think about it this way. We pay 30% tax in the US. Thats 4 months income right? Canada pays 50% and everyone has healthcare. Im not advocating socialized healthcare. I just wonder where exactly our 30% goes.

exactly... we pay 30 percent and don't have much to show for it... The last thing we need is more taxes for a Hitlary healthcare policy(she wowed us back in the 90s with her amazing plan that failed...)

We need lower prices on medicine and the eradication of frivolous lawsuits... that make doctors quit instead of paying ridiculous insurance premiums...

Love is the answer

2008-01-14 20:16:26

#14

Catbox: forgiveness; +505|7151

ATG wrote:
China will now destroy Detroit

that blog post is 3 years old... june 05

Love is the answer

2008-01-14 20:17:31

#15

CommieChipmunk: Member; +488|7004|Portland, OR, USA

ATG wrote:
China will now destroy Detroit

Just saw that, as if Detroit wasn't in enough trouble.

Mason4Assassin444 wrote:
[TUF]Catbox wrote:
hopefully Hillary will win and raise taxes so everyone will have healthcare at least...lol

we will make it through this... we always do... we always step up when our backs are up against the wall...
Think about it this way. We pay 30% tax in the US. Thats 4 months income right? Canada pays 50% and everyone has healthcare. Im not advocating socialized healthcare. I just wonder where exactly our 30% goes.

AFAIK their healthcare sucks balls though, I've heard horror stories about reaaaaally long waiting times.

2008-01-14 20:19:07

#16

ATG: Banned; +5,233|6964|Global Command

[TUF]Catbox wrote:
ATG wrote:
China will now destroy Detroit
that blog post is 3 years old... june 05

So?

Everythings peachy then??

Last edited by ATG (2008-01-14 20:19:41)

2008-01-14 20:23:06

#17

CommieChipmunk: Member; +488|7004|Portland, OR, USA

ATG wrote:
[TUF]Catbox wrote:
ATG wrote:
China will now destroy Detroit
that blog post is 3 years old... june 05
So?

Everythings peachy then??

It was actually just on the NBC evening news... it's pretty current

2008-01-14 20:31:04

#18

Catbox: forgiveness; +505|7151

ATG wrote:
[TUF]Catbox wrote:
ATG wrote:
China will now destroy Detroit
that blog post is 3 years old... june 05
So?

Everythings peachy then??

I'm not giving you a hard time... we are on the same side and want the US to make it through these challenging times...
but who is this blogger... I can start a blog and have it posted in 10 minutes telling everyone that will read it that a meteor is headed for earth...lol? Lot's of agendas out there... I'm betting on the resiliency of we Americans to get through this and i'm sure you are also...

China is enjoying a lot of success which is great... they are riding a bubble though... time will tell...

Love is the answer

2008-01-14 20:31:29

#19

Phrozenbot: Member; +632|7050|do not disturb

I believe because inflation is higher than what is being reported it is skewing the stock market, so right now its not a good indicator. People are now saying a recession is imminent, but the fact is we are in a weak recession already. I agree with you 100% that there is an impending stock market crash on the way, and could be as early as 08.

2008-01-14 20:44:55

#20

CanadianLoser: Meow :3 :3; +1,148|6942

does this mean Canada is going down with them? and if/when we do go into a major economic failure would this be taken advantage of by China, Russia, etc. especially in military terms?

2008-01-14 20:49:23

#21

Catbox: forgiveness; +505|7151

we have been through recessions and depressions... we just went through a really long period of prosperity in the last 10 years... so people have forgotten what it's like to go into recession

We still have a pretty strong military last time i checked and I think China is pretty happy with their prosperity...

Love is the answer

2008-01-14 21:06:47

#22

Phrozenbot: Member; +632|7050|do not disturb

Canadianloser wrote:
does this mean Canada is going down with them? and if/when we do go into a major economic failure would this be taken advantage of by China, Russia, etc. especially in military terms?

The EU and USA's GDP combined is about 10 times China's GDP. If both our GDP drops by 1%, China's GDP could drop 10%. According to Paul Van Eeden that is.

Anyways, Catbox, our economy is no longer resilient to economic shocks. The Fed is trying to keep things afloat by creating liquidity, but it is all going into a black hole. The longer they prevent the market from correcting itself, the more major it will be. By the way, when we saved the dollar back in the 80's, we were the worlds largest creditor, now we are the worlds largest debtor. Tell me, how are we going to pull through this without defaulting? And if you don't think that is bad, then you need your head examined.

2008-01-14 21:09:33

#23

ATG: Banned; +5,233|6964|Global Command

And what happens when we default on billions/trillions in loan payments to China?

2008-01-14 21:12:36

#24

Catbox: forgiveness; +505|7151

ok... i choose not to give up that easy... I didn't say that there aren't challenges ahead... just that i am optimistic that we will make it through this... not into the whole defeatist attitude... works for you i guess,phrozen?

Last edited by [TUF]Catbox (2008-01-14 21:13:10)

Love is the answer

2008-01-14 21:18:32

#25

Reciprocity: Member; +721|7015|the dank(super) side of Oregon

of course we're gunna make it through, but it will hurt for a lot of people. I feel sorry for whoever the next president will be, they're inheriting the Bush/Greenspan clusterfuck.

BF2S Forums Economic Freefall

ATG wrote:

NeXuS4909 wrote:

[TUF]Catbox wrote:

Mason4Assassin444 wrote:

[TUF]Catbox wrote:

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ATG wrote:

Mason4Assassin444 wrote:

[TUF]Catbox wrote:

[TUF]Catbox wrote:

ATG wrote:

ATG wrote:

[TUF]Catbox wrote:

ATG wrote:

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[TUF]Catbox wrote:

ATG wrote:

Canadianloser wrote:

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