Does anyone else think a massive crash is incoming?

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sonarrat said:
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.

THERE WON'T BE ANYONE TO PAY IT BACK TO!

It's like "borrowing" $1000 from an old man that you know is dying.
 
It's like "borrowing" $1000 from an old man that you know is dying.

But before they all go under (if such a scenario happens) they will be pulling these debts out from you. My Great grandfather lost his farm in such a manner during the 29' crash.
 
Nicodimas said:
But before they all go under (if such a scenario happens) they will be pulling these debts out from you. My Great grandfather lost his farm in such a manner during the 29' crash.

I'm not seriously suggesting that someone rack up as much debt as they can, with their fingers-crossed that their debtors implode and can't collect ;)

I'm just joking.
 
The reason WWII helped was because we didn't have much of a standing army. Thus, once the war started, lots of jobs opened up (weapons, military, etc..)

The reason teh Iraq war didn't help us is because we already had all of that stuff going on. It's really simple.
 
reilo said:
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.

Oh come on, Afghanistan and Iraq are snowball fights compared to WWII.:lol
 
Oh come on, Afghanistan and Iraq are snowball fights compared to WWII

They aren't over yet. We will see how many stress casualties this generation has. IT will be really interesting to see the "other type" we suffer from also.

You are correct just after WW2 there was something like 60-70 million people killed in the cold war era alone.
 
Nicodimas said:
They aren't over yet. We will see how many stress casualties this generation has. IT will be really interesting to see the "other type" we suffer from also.

You are correct just after WW2 there was something like 60-70 million people killed in the cold war era alone.

Over 70 million people died in just 7 years in WWII. Nothing that will happen anytime soon will come close to that figure. Nothing that is going on now is even remotely comparable.
 
Over 70 million people died in just 7 years in WWII.

http://www.globalactionforchildren.org/static/the_facts/

An estimated 11 million children under age five die each year from preventable or treatable diseases. In 2004, an estimated 10.5 million children died before they reached age five, most from preventable diseases. (World Health Organization)

Nothing that is going on now is even remotely comparable

Thats 77 million in 7 years! All under 5.

So your wrong.
 
Nicodimas said:
http://www.globalactionforchildren.org/static/the_facts/

An estimated 11 million children under age five die each year from preventable or treatable diseases. In 2004, an estimated 10.5 million children died before they reached age five, most from preventable diseases. (World Health Organization)



Thats 77 million in 7 years! All under 5.

So your wrong.

no he isn't... 70 million died in WWII these kids are dying from diseases how is that even comparable?
 
Yes, the end times are near.

Increase in earthquakes? L.A. ring a bell? Last time I checked there wasn't an earthquake on July 29th. Overnight there was a 100% increase.

False prophets? Check. Unless McCain is wrong. But the U.S. military doesn't promote people to Captain (whoops) who are "wrong."

I think it's pretty clear we're doomed.

EDIT: But seriously. Who knows? It wouldn't exactly surprise me if we saw another depression in my lifetime. It seems we're headed down that path again. I think the most likely scenario is our spot as the world's number one economy slowly fades until we wake up one day and find ourselves number 2. Then number 3. Won't even know what hit us.
 
You people are discussing economics with the guy who thinks HD-DVD is still alive and has a chance to recapture the HD video market.

I'll let y'all think on that.
 
GDJustin said:
THERE WON'T BE ANYONE TO PAY IT BACK TO!

It's like "borrowing" $1000 from an old man that you know is dying.

Well you could always get a huge cash advance, then take the money and move to Cuba.
 
Wallach said:
...

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?


wha?
Didn't the boost to the U.S. economy come from selling to the allies during the War?

Kinda like War Profiteering than actually a country actively at War.
 
GDJustin said:
THERE WON'T BE ANYONE TO PAY IT BACK TO!

It's like "borrowing" $1000 from an old man that you know is dying.
Actually, since our current economies rely on a system of debt, when the system begins to collapse, the first thing a bank will do as a method of survival is "OK, y'know what? Pay up, NOW." Mass immediate reclamation of debts owed to banks is the first and most devastating reaction to a market collapse. If this happens internationally, for instance, the US is screwed because it will have to pay down the debts it owes to other national treasuries.
 
Xeke said:
Oh come on, Afghanistan and Iraq are snowball fights compared to WWII.:lol

Hence why the statement that wars help the economy is a stupid one to make...?

Who exactly are you arguing with here?
 
reilo said:
Hence why the statement that wars help the economy is a stupid one to make...?

Who exactly are you arguing with here?
Well, you're right, war in and of itself does not help an economy, but one can't argue that it has done exactly that throughout history. We've just come to a point where not even war can act as a life support for a dying social system like the "debt system" that the entire world is shackled to.
 
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.
:lol :lol :lol

Post of the thread
 
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.

NYTIMES: Shipping Costs Start to Crimp Globalization

In many ways, the energy crisis will turn out to be a dose of long-needed medicine for the U.S. Unfortunately it's horribly bitter going down. We've squandered the last three decades on continuing our doomed relationship with the automobile while Europe was improving its transportation systems and learning how to do more with less in a much less painful fashion than we'll have to. Instead of laughing at Jimmy Carter for wearing a sweater and putting solar panels on the White House (removed by the Reagans when then moved in), we should have been beginning to make the gentle and gradual transition away from oil and funding the changes in our transportation and logistical networks, changes that must now be made quickly, expensively and painfully.

Unemployment's higher than 5.7% percent though, more like 10.3% (at least if you're going by "U-6", which includes people who are not currently looking for work, but who have looked for work in the recent past and people who are no longer looking for work but who are also unemployed. Something to remember when you hear Republicans castigate Europe for it's "high" unemployment rates. They're just using a different, and more realistic metric than we are.).
 
luxarific said:
In many ways, the energy crisis will turn out to be a dose of long-needed medicine for the U.S. Unfortunately it's horribly bitter going down. We've squandered the last three decades on continuing our doomed relationship with the automobile while Europe was improving its transportation systems and learning how to do more with less in a much less painful fashion than we'll have to. Instead of laughing at Jimmy Carter for wearing a sweater and putting solar panels on the White House (removed by the Reagans when then moved in), we should have been beginning to make the gentle and gradual transition away from oil and funding the changes in our transportation and logistical networks, changes that must now be made quickly, expensively and painfully.

I don't think people realize how much we depend on oil. What chemicals it makes possible, how we use it to grow massive amounts of food, how it factors into the costs of basically everything, etc.

For some reason, saying "I told you so" isn't going to feel good this time around.
 
$10 trillion in debt, with a current president racking up half a trillion + Iraq war spending this year despite record levels of tax revenue. Two Presidential candidates proposing billions in additional spending.

$40 trillion in unfunded liabilities from Social Security / Medicare, with one Presidential candidate proposing significant expansion of entitlement spending. The other candidate's predeccessor provided the largest increase in entitlement spending since the Great Society.

As a nation we require literally billions of dollars a day in foreign investment to finance our government's spending.

Those are facts. Whether you believe they'll take us to a crash is your opinion.

Personally, my opinion is that the government will eventually collapse under its own weight, bringing an end to the age of entitlements. If you depend on the government for your check in one way or another you may be standing in the bread line. Hopefully the private sector will be strong enough to survive, and greet a smaller, less nanny-state government on the other side.
 
TomServo said:
Personally, my opinion is that the government will eventually collapse under its own weight, bringing an end to the age of entitlements. If you depend on the government for your check in one way or another you may be standing in the bread line. Hopefully the private sector will be strong enough to survive, and greet a smaller, less nanny-state government on the other side.
:lol
 
is anyone going to talk some sense in here? seriously? Most of the people in here that are spouting this doom and gloom should study the stats that worries them with previous times, the market is going through a correction, and our GPD increased last month by a little over 1%, that isnt a recession. Our main problem is the housing situation, too many lenders saw an opportunity to sell houses to people that had no financial business owning them, and now the chickens are coming home to roost with all the bankruptcies. The truth is, many people are going to make alot of money who seize the opportunity to buy this cheap property in this buyers market of housing.

i bet all of you were worried about Y2k also
 
Lhadatt said:
You people are discussing economics with the guy who thinks HD-DVD is still alive and has a chance to recapture the HD video market.

I'll let y'all think on that.

I think it's clear its the reason why we are in trouble, if HD-DVD had won, everybody would be spending billions of dollars in retail stores buying HD-DVD movies and players.

Economy Saved!
 
Lhadatt said:
You people are discussing economics with the guy who thinks HD-DVD is still alive and has a chance to recapture the HD video market.

I'll let y'all think on that.

What do you mean, "you people?"
 
akachan ningen said:
Let's say a crash did happen in the US. What would be best way to save your money before it happened? euros? yen? gold?

This is a far more interesting topic of discussion than how utterly wrong Nicodemas is.
 
Nicodimas, we need some pics of your survival bunker or shenanigans will be wrought upon you.
 
EMBee99 said:
Nicodimas, we need some pics of your survival bunker or shenanigans will be wrought upon you.

One of the reasons I'm picking up Fallout 3 is to be better prepared. I've learned that prep time is THE key factor in surviving massive incoming crashes.
 
akachan ningen said:
Let's say a crash did happen in the US. What would be best way to save your money before it happened? euros? yen? gold?
Canadian Dollar.

Or the Euro.
 
Xeke said:
Our banks have been in worse shape than they are right now since the depression and it didn't crash.

This. The crisis of the 1980's puts our current problems to shame.


If you are trying to figure out the state of the economy, don't ever listen to the endless doom and gloom of the mainstream press. Some sectors of finance and industry are getting hit hard, while others are exceeding expectations-- you'll just tend to hear the stories about old mainstays failing than you are to hear about the smaller or regional businesses that are booming.

Despite everybody screaming that the sky is falling, the economy still has positive growth, and you shouldn't underestimate what that means. A weak dollar encourages foreign investment and makes American goods more appealing to foreign countries. High energy prices increase the costs of shipping long distances, so American goods become relatively cheap compared to imported goods, which will feed back into creating new jobs.

There will be ups and downs, but there is no reason to think this will anywhere near rival the depression or the 80's.

TomServo said:
Personally, my opinion is that the government will eventually collapse under its own weight, bringing an end to the age of entitlements. If you depend on the government for your check in one way or another you may be standing in the bread line. Hopefully the private sector will be strong enough to survive, and greet a smaller, less nanny-state government on the other side.

The future entitlement crisis is far more terrifying than the current economic problems. The US is going to need some tough love, i.e. an increase in taxes and cuts to many, many government programs. There is no other way. Period.
 
Tyrone Slothrop said:
i cant believe i was born into the first modern american generation that'd have it worse than the one before. fate is a bitch

Our video games are ten times better, settle down.
 
Tyrone Slothrop said:
i cant believe i was born into the first modern american generation that'd have it worse than the one before. fate is a bitch

Life expectancy says "Hi!" (In a very annoying Kirby voice)
 
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