Does anyone else think a massive crash is incoming?

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N

Nicodimas

Banned
-Fannie Mae/Fredie Mac
-Banks lining up to go bankrupt
-GM/Ford going bankrupt
-100s Billions being spent/Lost on wars.
-Ugly economy

+The jobless rate is still very secure at 5.7%
+Oil seems to be going down now..

http://bangornews.com/news/t/news.aspx?articleid=167913&zoneid=500
+20% cost for energy.


We are really at a prolific intersection for America. Countries Crash. Just the normal doom and gloom..I just have had a bad vibe about this whole situation lately.

We will obviously make it past it and life will go on, but I would rather be prepared...then not.
 
The ironic thing is that with the cost of energy making imports more difficult, it's starting to bring manufacturing jobs back to the USA. The Japanese and European automakers were smart and started opening up assembly plants Stateside years ago, and now more industries are starting to follow their lead.
 
Sonnarrat that is great news! Do you have anything that proves this as everything I see we are losing alot of those jobs.
 
sonarrat said:
The ironic thing is that with the cost of energy making imports more difficult, it's starting to bring manufacturing jobs back to the USA. The Japanese and European automakers were smart and started opening up assembly plants Stateside years ago, and now more industries are starting to follow their lead.
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They gave us back our jarbs!!
 
I'm sure since the 1930s there have been a million things put in place to ensure that doesn't happen.
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/disgust.

Really are you serious? They have 60 billion to back up the 7 trillion in banks. A bank run at any time would cause a collapse.
 
Illuminati said:
I'm sure since the 1930s there have been a million things put in place to ensure this doesn't happen.
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Uhhh, no, probably not. Even good economists don't seem to plan any further ahead than about 10 years.
 
children-of-men-theo-kee1_1166716426.jpg


SAVE THE BABIES!!
 
Our banks have been in worse shape than they are right now since the depression and it didn't crash.
 
You make this thread every damn year. Yes, yes, the US will become a post-apocalyptic wasteland if that helps you justify your buying so many guns.
 
Yep. And I'm saving my pennies for when the rainy day comes. No credit cards, car is being paid-off early, etc etc. Call me a pessimist, but I think that the check's in the mail.

(and no matter who wins in November, he won't be re-elected because of this)
 
YES. The car's on fire and there's no driver at the wheel. MAN THE TRENCHES, THE ALIENS ARE BEGINNING THEIR DESCENT.
 
HylianTom said:
Yep. And I'm saving my pennies for when the rainy day comes. No credit cards, car is being paid-off early, etc etc. Call me a pessimist, but I think that the check's in the mail.

(and no matter who wins in November, he won't be re-elected because of this)
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You just need to make it look like you are doing something. FDR won reelection and the New Deal was hardly speeding us out of the depression.
 
Yep. And I'm saving my pennies for when the rainy day comes. No credit cards, car is being paid-off early, etc etc. Call me a pessimist, but I think that the check's in the mail.
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See that the way to go. I believe its social readiness to be prepared and not doomsaying and pessimism. This sort of stuff has happened throughout history...Might not happen in my lifetime..but could. People spend all sorts of money on things that could happen that never even occur.
 
Nicodimas said:
Sonnarrat that is great news! Do you have anything that proves this as everything I see we are losing alot of those jobs.
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We're losing a lot of jobs in the financial sector (big surprise). And yes, we are still losing manufacturing jobs. But they're being lost at a slower rate, about 40,000 a month compared with 100,000 during the last recession.
 
Illuminati said:
Yes I am serious, it wouldn't be the first time there has been a crash and the world has been able to adjust to it: http://en.wikipedia.org/wiki/List_of_stock_market_crashes
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Most of those were downturns, not a major market-wide collapse. The only reason North America recovered from the 1929 crash was because the war bolstered the economy due to the necessity of munitions manufacturing, which is how America also became a military superpower (it needed to keep those jobs running to keep the economy afloat, so the government kept buying what was manufactured)
 
Terrell said:
Most of those were minor downturns, not a major collapse. The only reason North America recovered from the 1929 crash was because the war bolstered the economy due to the necessity of munitions manufacturing, which is how America also became a military superpower (it needed to keep those jobs running to keep the economy afloat, so the government kept buying what was manufactured)
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Don't doubt our ability to start a war.
 
the war bolstered the economy
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Wow you really buy into that huh?

War has never helped a economy and never will. It is just some BS they spout of to people and they buy into it. War is an Evil that will always exist however. One side convinces there side it is actually worth it and the other must defend.
 
Nicodimas said:
Wow you really buy into that huh?

War has never helped a economy and never will. It is just some BS they spout of to people and they buy into it. War is an Evil that will always exist however. One side convinces there side it is actually worth it and the other must defend.
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Buy into that shit?

The amount of jobs that were created to produce the countless tanks, planes, boats, guns, equipment, bombs and other things, was a huge benefit of the war. Not to mention our arms dealing before and during the war to other countries.
 
Nicodimas said:
Wow you really buy into that huh?

War has never helped a economy and never will. It is just some BS they spout of to people and they buy into it. War is an Evil that will always exist however. One side convinces there side it is actually worth it and the other must defend.
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...hu?

If you're denying that WWII did a lot to spur the economy in the 1940s and put people back to work...I don't know what to say to that.
 
Nicodimas said:
Wow you really buy into that huh?

War has never helped a economy and never will. It is just some BS they spout of to people and they buy into it. War is an Evil that will always exist however. One side convinces there side it is actually worth it and the other must defend.
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Ummm, WHAT?! Sorry, I think I'll "buy into" what we're taught in university-level economics classes before I ever believe what some twat on GAF has to say about the matter, kthxbai.
 
HylianTom said:
Yep. And I'm saving my pennies for when the rainy day comes. No credit cards, car is being paid-off early, etc etc. Call me a pessimist, but I think that the check's in the mail.

(and no matter who wins in November, he won't be re-elected because of this)
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If you think about it, if the shit is really about to hit the fan, wouldn't you want to load yourself WAY up on debt? Buy a big house... sweet car, etc. Then hope that all the financial institutions blow up before it's time to pay up?
 
GDJustin said:
If you think about it, if the shit is really about to hit the fan, wouldn't you want to load yourself WAY up on debt? Buy a big house... sweet car, etc. Then hope that all the financial institutions blow up before it's time to pay up?
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All the cool cranks are converting their assets into a bomb shelter, jerky, guns, and gold.
 
If you think about it, if the shit is really about to hit the fan, wouldn't you want to load yourself WAY up on debt? Buy a big house... sweet car, etc. Then hope that all the financial institutions blow up before it's time to pay up?
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Good point. I have been thinking about this myself often. Reality sets into the mindset of being frugal and having to do things for yourself. This is what is important about these scenarios. Being irresponsible and running up debt and expecting others to do stuff for you is where the danger lies.
 
Nicodimas said:
Interesting that people believe war is good for the economy. Very interesting. You should do some more studying on that university level economics.

I had lots of teachers tell me interesting things that turned out to be bullshit.

Read this:

http://users.erols.com/mwhite28/warstat1.htm
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Yeah? A lot of people died, that's what war DOES, I don't see how this proves that it didn't help our failing economy, just that it's an awful way to do it.
 
Nicodimas said:
Interesting that people believe war is good for the economy. Very interesting. You should do some more studying on that university level economics.

I had lots of teachers tell me interesting things that turned out to be bullshit.

Read this:

http://users.erols.com/mwhite28/warstat1.htm
Click to expand...


Great counter point to the theory that war bolsters the economy. I never realized people die in wars.


Edit:

Your next link clearly states.

The normal profits of a business concern in the United States are six, eight, ten, and sometimes twelve percent. But war-time profits – ah! that is another matter – twenty, sixty, one hundred, three hundred, and even eighteen hundred per cent

Or, let's take United States Steel. The normal earnings during the five-year period prior to the war were $105,000,000 a year. Not bad. Then along came the war and up went the profits. The average yearly profit for the period 1914-1918 was $240,000,000. Not bad.

Anaconda, for instance. Average yearly earnings during the pre-war years 1910-1914 of $10,000,000. During the war years 1914-1918 profits leaped to $34,000,000 per year.
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Clearly war is bad for the economy.
 
GDJustin said:
If you think about it, if the shit is really about to hit the fan, wouldn't you want to load yourself WAY up on debt? Buy a big house... sweet car, etc. Then hope that all the financial institutions blow up before it's time to pay up?
Click to expand...

No way. With all the asset deflation going on, now is the time to get rid of any debt you have, because you may find yourself much less able to pay it back.
 
mac said:
Great counter point to the theory that war bolsters the economy. I never realized people die in wars.


Edit:

Your next link clearly states.



Clearly war is bad for the economy.
Click to expand...

Might I asked, was the cost of those wars paid for by raising taxes, or deferred by the government for an unknown amount of time and just loaned from different countries?
 
War has clearly made africa a great place to live-or iraq. Go move there...or any of the place that live in eternal war since you all love it so much.

~watches there brains explode in the thought war is not creating wonderland over there.
 
Nicodimas said:
War has clearly made africa a great place to live-or iraq. Go move there...or any of the place that live in eternal war since you all love it so much.

~watches there brains explode in the thought war is not creating wonderland over there.
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Hey Nicodimas, if guns make people safe why is Africa so dangerous even though they have the most?
 
Don't save your pennies, it doesn't matter how many you save, you'll run out of them rather quickly if you're spending more than you earn.

Looking at the bigger picture, it's only relatively recently that people have really gotten it into their heads that they can do what they have a passion for as a career and make out ok. I for one think this is going to be a short lived trend.

We've been able to sustain our massive debt and other excesses because the GDP has continued to grow at a good clip as well. The economy of the US (and the West as a whole) has been able to continue to hold on to the upper ends, as the world shifted from agriculture to manufacturing, from manufacturing to tech and finance. But we have thus far failed to find anything that could realistically serve as the next step. And even if there is a viable economic cash cow still out there, such as nanotech, formerly third world countries are closing the infastructure gap fast and will be close behind in jumping in.

Crash or not, here comes the adjustment. Art majors prepare to be in for a lot of pain.
 
Africa so dangerous even though they have the most
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Interesting argument. America per person I think owns more than half the civilian guns in the world. Over 300 million.


I would argue the internal wars don't exactly help though. Imagine if a active war was set off in America. A race war for instance. It would be beyond ugly. Hey lots of profits though!! It would stimulate economies because people would be building bullets and guns!

As long as the world has the appearance that it is profiting everything is going according to plan.
 
sonarrat said:
The ironic thing is that with the cost of energy making imports more difficult, it's starting to bring manufacturing jobs back to the USA. The Japanese and European automakers were smart and started opening up assembly plants Stateside years ago, and now more industries are starting to follow their lead.
Click to expand...


We're not getting manufacturing jobs back (outside of auto plants). All of the published evidence shows it to still be the case that investors look on the manufacturing industry and a long investment game and getting our manufacturing infrastructure back (especially in electronics) is at least a decade away.
 
...

So, wait, do you think the people telling you that the war helped the United States' economy during WWII (which it did) are insinuating that war is a good thing on the whole?
 
Nicodimas said:
War has clearly made africa a great place to live-or iraq. Go move there...or any of the place that live in eternal war since you all love it so much.

~watches there brains explode in the thought war is not creating wonderland over there.
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Buying a lot of weapons like the Middle East and Africa do is a little different from MAKING THEM and selling them for profit.
But more to the point, when did any of us say we loved war? We didn't, but it doesn't change the fact that it created jobs and sales of goods, even if it was for the worst reasons.
Seriously, you're worse than those people who say that a withdrawal from the Middle East makes you a terrorist sympathizer or anti-American. My best hope is that it's all a joke post.
 
WW2 was something of a special case because aside from Hawaii we didn't get attacked while everyone else did. Lots of market opportunities when you rule the western world too.
 
Nicodimas said:
Interesting argument. America per person I think owns more than half the civilian guns in the world. Over 300 million.


I would argue the internal wars don't exactly help though. Imagine if a active war was set off in America. A race war for instance. It would be beyond ugly. Hey lots of profits though!! It would stimulate economies because people would be building bullets and guns!

As long as the world has the appearance that it is profiting everything is going according to plan.
Click to expand...

Wow dude, of course war isn't good for the country getting blown up but that didn't happen to us in WWII.

There wont be a race war.:lol
 
Hitokage said:
WW2 was something of a special case because aside from Hawaii we didn't get attacked while everyone else did.
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I think it's really stupid to make a blanket statement such as that "wars help the economy".

Have the Iraq and Afghanistan wars helped the US economy? No. It helped certain sectors of the economy, mainly highly privatized institutions. Besides, a company like GM or Ford could have benefited from these wars, and subsequently the people they employ, if the government would have actually contracted them to build more vehicles to be used by the military.

Replace GM or Ford with any other public company and vehicles with any manufacturing good and you'd get the same idea.

But that hasn't been the case, has it? Instead these contracts were farmed out to much smaller, private companies that nobody has heard of and whose only objective is to build military equipment.
 
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