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xMurtaghx
I post too much
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Joined: 13 Apr 2008
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Location: Gayville, South Dakota, 57031, United States of America
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 Posted: Tue Feb 17, 2009 6:40 pm Post subject: Entering the Gates of a Depression |
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I found these articles stating thinks that are saying that the deepening recession is turning going to turn into a depression and that the worst is still yet to come!
h ttp ://fi nance .yaho o.co m/tech-ticker/article/176478/%22Worst-Is-Yet-to-Come%22-Americans' -Standard-of-Living-Permanently-Changed?tickers=WMT,WFMI,FD O,%5EGSPC,%5EDJI,RTH,TGT
And
http ://th eco mingdepre ssion.blogs pot.co m/2009/ 02/this-is-far-worse-tha n-great-dep ression.html
And this article was written in March so it isnt very acurrate but...
htt p :/ /a bcn ews. go. c om/ Busi ness /Economy/story?id=4544872
[Remove the Spaces]
^DJI also dropped to 7552 today, repeating the 18 year lows of
November 2008.
What are your opinions.
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flipflop09999
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| Posted: Tue Feb 17, 2009 6:50 pm Post subject: |
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I honestley think we are far from the depression. All we need is the flow of money, and to limit CEOs from abusing their power.
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xMurtaghx
I post too much
Reputation: 1
Joined: 13 Apr 2008
Posts: 3611
Location: Gayville, South Dakota, 57031, United States of America
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| Posted: Tue Feb 17, 2009 6:59 pm Post subject: |
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| flipflop09999 wrote: | | I honestley think we are far from the depression. All we need is the flow of money, and to limit CEOs from abusing their power. |
Oh trust me, its much more then money.
Giving money just increased our national debt, and now we are
boroughing money to pay or only 5% of the interest of our
60,000,000,000,000 (Thats enough 0's?) national debt. Also you should
look at out unemployment and consumer spending. People are begining
to save. Our GPA growth fell 8% last year.
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[SPW]Jsin
Grandmaster Cheater Supreme
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Joined: 19 Jul 2007
Posts: 1251
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| Posted: Tue Feb 17, 2009 7:12 pm Post subject: |
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| xMurtaghx wrote: | | flipflop09999 wrote: | | I honestley think we are far from the depression. All we need is the flow of money, and to limit CEOs from abusing their power. |
Oh trust me, its much more then money.
Giving money just increased our national debt, and now we are
boroughing money to pay or only 5% of the interest of our
60,000,000,000,000 (Thats enough 0's?) national debt. Also you should
look at out unemployment and consumer spending. People are begining
to save. Our GPA growth fell 8% last year. |
America has had debt ever since the beginning. Nobody gives a shit about our current debt, I doubt it would ever be paid back.
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xMurtaghx
I post too much
Reputation: 1
Joined: 13 Apr 2008
Posts: 3611
Location: Gayville, South Dakota, 57031, United States of America
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| Posted: Tue Feb 17, 2009 7:21 pm Post subject: |
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| Jsin wrote: | | xMurtaghx wrote: | | flipflop09999 wrote: | | I honestley think we are far from the depression. All we need is the flow of money, and to limit CEOs from abusing their power. |
Oh trust me, its much more then money.
Giving money just increased our national debt, and now we are
boroughing money to pay or only 5% of the interest of our
60,000,000,000,000 (Thats enough 0's?) national debt. Also you should
look at out unemployment and consumer spending. People are begining
to save. Our GPA growth fell 8% last year. |
America has had debt ever since the beginning. Nobody gives a shit about our current debt, I doubt it would ever be paid back. |
Yes, but if we get too much debt, then other countires will stop leanding
us money. Then we'll really be in the doghouse.
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flipflop09999
Grandmaster Cheater
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| Posted: Tue Feb 17, 2009 7:24 pm Post subject: |
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I mean Americans spending money on things.
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[SPW]Jsin
Grandmaster Cheater Supreme
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Joined: 19 Jul 2007
Posts: 1251
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| Posted: Tue Feb 17, 2009 7:58 pm Post subject: |
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| xMurtaghx wrote: | | Jsin wrote: | | xMurtaghx wrote: | | flipflop09999 wrote: | | I honestley think we are far from the depression. All we need is the flow of money, and to limit CEOs from abusing their power. |
Oh trust me, its much more then money.
Giving money just increased our national debt, and now we are
boroughing money to pay or only 5% of the interest of our
60,000,000,000,000 (Thats enough 0's?) national debt. Also you should
look at out unemployment and consumer spending. People are begining
to save. Our GPA growth fell 8% last year. |
America has had debt ever since the beginning. Nobody gives a shit about our current debt, I doubt it would ever be paid back. |
Yes, but if we get too much debt, then other countires will stop leanding
us money. Then we'll really be in the doghouse. |
No, they wouldn't really, we are always there to help the other countries during their wars. Also, the UN unites the nations together.
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Pron
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| Posted: Tue Feb 17, 2009 9:10 pm Post subject: |
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| I thought Canada/America just rolled into the 3rd quarter of constant recession, doesn't that mean we are already in a depression?
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thebluefiend
Grandmaster Cheater
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Joined: 24 Apr 2007
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Location: Scotia, New York.
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| Posted: Wed Feb 18, 2009 12:14 am Post subject: |
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Why are we in debt? Because America likes to enter wars that aren't its own.
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sponge
I'm a spammer
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Joined: 07 Nov 2006
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| Posted: Wed Feb 18, 2009 12:18 am Post subject: |
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| thebluefiend wrote: | | Why are we in debt? Because America likes to enter wars that aren't its own. |
Don't say shit about stuff you know nothing about.
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flipflop09999
Grandmaster Cheater
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| Posted: Wed Feb 18, 2009 12:22 am Post subject: |
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| sponge wrote: | | thebluefiend wrote: | | Why are we in debt? Because America likes to enter wars that aren't its own. |
Don't say shit about stuff you know nothing about. |
100% Correct Sponge. The richest countries have the largest Deficits. Although, past administrations have caused clearly avoidable wars.
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thebluefiend
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Location: Scotia, New York.
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| Posted: Wed Feb 18, 2009 1:16 am Post subject: |
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| sponge wrote: | | thebluefiend wrote: | | Why are we in debt? Because America likes to enter wars that aren't its own. |
Don't say shit about stuff you know nothing about. |
Im sorry, ill whimper in a corner and pretend im scared and forbidden to say anything on an internet forum. You didn't even come in here and post anything toward the topic, you just cam in and randomly flamed me.
Why did we invade the Middle East? Apparently there was weapons of Mass Destruction. Maybe if America would stop policing the world we can focus on our economy, rather than trying to steal oil and destroy others. I personally did not favor Obama for this current election, but I'd rather not see another war that shouldn't be existent and have more of my family die to fight for something so insignificant such as "This is my land! Its been here all this time with out any owners but im going to call it mine anyway!"
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jesterab
Advanced Cheater
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Posts: 62
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| Posted: Wed Feb 18, 2009 1:31 am Post subject: |
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| thebluefiend wrote: | | sponge wrote: | | thebluefiend wrote: | | Why are we in debt? Because America likes to enter wars that aren't its own. |
Don't say shit about stuff you know nothing about. |
Im sorry, ill whimper in a corner and pretend im scared and forbidden to say anything on an internet forum. You didn't even come in here and post anything toward the topic, you just cam in and randomly flamed me.
Why did we invade the Middle East? Apparently there was weapons of Mass Destruction. Maybe if America would stop policing the world we can focus on our economy, rather than trying to steal oil and destroy others. I personally did not favor Obama for this current election, but I'd rather not see another war that shouldn't be existent and have more of my family die to fight for something so insignificant such as "This is my land! Its been here all this time with out any owners but im going to call it mine anyway!" |
Woah, for starters you need to understand that this thread is related to economical hardships currently faced by the US CITIZENS and wars have a notorious history for stimulating economies. This war did not tamper with the oil market, speculative buyers buying out shares and oil itself raised the prices of gas.
This isn't America, it's "The United States of America". While yes, the United states went into the middle east as a police force, that isn't why we have huge infrastructural debt at the moment. Sure is contributing to national debt but that has virtually no effect on the taxpayers annual tribute. What it does have affect on is the value of the dollar which really only comes into play when dealing with forigan currencies and determining the financial health of a nation. Since we are entering a depression, most citizens have less money AND have less valuable money. Usually that is a problem where you either have One or the Other. Instead we are fucked on both sides.
Unfortunately the cause of the financial crisis is highly debated. Coming from the mortgage industry myself I've seen this coming for quite some time now and I really don't feel like getting into it. Last time I did some idiot came at me with "Bad bank lol" (averagezn, aka idiot) but if you need someone to hang look no further then lend america.
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sponge
I'm a spammer
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Joined: 07 Nov 2006
Posts: 6009
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| Posted: Wed Feb 18, 2009 2:01 am Post subject: |
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| jesterab wrote: | | Woah, for starters you need to understand that this thread is related to economical hardships currently faced by the US CITIZENS and wars have a notorious history for stimulating economies. |
My sentiments exactly. I hate people who come into conversations without understanding how complex the situation is. U.S. debt increased more during post-bellum World War II. Heck, World War II brought us out of the great depression.
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Last edited by sponge on Wed Feb 18, 2009 2:04 am; edited 1 time in total |
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thebluefiend
Grandmaster Cheater
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Joined: 24 Apr 2007
Posts: 538
Location: Scotia, New York.
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| Posted: Wed Feb 18, 2009 2:02 am Post subject: |
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| jesterab wrote: | | thebluefiend wrote: | | sponge wrote: | | thebluefiend wrote: | | Why are we in debt? Because America likes to enter wars that aren't its own. |
Don't say shit about stuff you know nothing about. |
Im sorry, ill whimper in a corner and pretend im scared and forbidden to say anything on an internet forum. You didn't even come in here and post anything toward the topic, you just cam in and randomly flamed me.
Why did we invade the Middle East? Apparently there was weapons of Mass Destruction. Maybe if America would stop policing the world we can focus on our economy, rather than trying to steal oil and destroy others. I personally did not favor Obama for this current election, but I'd rather not see another war that shouldn't be existent and have more of my family die to fight for something so insignificant such as "This is my land! Its been here all this time with out any owners but im going to call it mine anyway!" |
Woah, for starters you need to understand that this thread is related to economical hardships currently faced by the US CITIZENS and wars have a notorious history for stimulating economies. This war did not tamper with the oil market, speculative buyers buying out shares and oil itself raised the prices of gas.
This isn't America, it's "The United States of America". While yes, the United states went into the middle east as a police force, that isn't why we have huge infrastructural debt at the moment. Sure is contributing to national debt but that has virtually no effect on the taxpayers annual tribute. What it does have affect on is the value of the dollar which really only comes into play when dealing with forigan currencies and determining the financial health of a nation. Since we are entering a depression, most citizens have less money AND have less valuable money. Usually that is a problem where you either have One or the Other. Instead we are fucked on both sides.
Unfortunately the cause of the financial crisis is highly debated. Coming from the mortgage industry myself I've seen this coming for quite some time now and I really don't feel like getting into it. Last time I did some idiot came at me with "Bad bank lol" (averagezn, aka idiot) but if you need someone to hang look no further then lend america. |
I did get a little off topic, sorry about that. The mass production of weapons would normally be a sure fire way to jump start the economy no? Why did it not boom our economy this time?
Obamas stimulus package to throw money into the automotive companies, where is that going to help? Im actually asking for a couple answers, not being sarcastic.
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