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The way this economy is going I think that we could be heading for a depression. I wonder if we will end up like we did in the great depression. It seems that jobs are starting to go away and companies are folding. When will they come out and say that we are in a depression?
This would be a good year for a strong independant canadate!
The interesting thing here is the blinders that people wear. For example. A family can lose a job. Thier whole world turned upside down. They happen to say to a neighbor who is still working and doing ok..."What do you think about this depression"? The neighbor responds..."What depression"?
This blinder mentality has been going on sinse the end of the seventies or longer. We were out of it 8 years ago but Bush nose dived the country. No one noticed till now.
Be sure to vote in what?....39 days?
We are in for it for sure no matter who gets elected. The lesser of the two evils will make it softer and shorter for us.
We here at DS are used to roller coaster rides so I think we will fare better than most.
Watch them debate tonight. Should be a good show. Maybe Palin will speak someplace sometime. She is natural comic. So very funny just naturally. Not a clue the poor girl. I think they are going to ask her to step down from VP canadacy...maybe pick libbermann.
Anyway...look about you dude...they truly dont announce the coming of it...lol.
I would have a hard time arresting a person for shoplifting if they were stealing food for their family.
Everything is rising. My insurance to do events like car shows and Dodger and Padres games went up to 44 thousand this year. Its been climbing since 9/11. Before 9/11, it was 3 thousand for the whole year. Everyone is raping and pillaging. I had to lie about how many guys I employ. But yet, people were paying 35 fcking dollars for a Dodgers Western Division Champions shirt last night at the game. I couldnt believe and I work there. My brother wanted to buy one while we were waching the game. I told him why?!?! its 35 dollars!!
We have not had laissez-fare economics in the US since the beginning of the Hoover administration. The stock market is not as tied to the US economy as it once was, the "dust bowl" destroyed crop production at the time forcing a shortage and high food prices, and don't forget that the US was lending millions of dollars to Germany in the Dawes Act to keep their economy going in an attempt to lessen the harshness created by the Treaty of Versailles.
We are in a Recession and it may get worse, or the closing of these companies and failures of these banks may prompt government reorganization of key industries and tax penalties for outsourcing.
Hmmm I agree that we are in a very serious situation here. 5 major investment banks - the only five big ones - all gone within a few weeks. Granted, 3 are still alive in another form, but two...old, venerable firms, evaporated. That's big stuff. Today - Washington Mutual, largest thrift in the U.S., gone...out of business. The depositors will get their money but the shareholders and bond holders - wiped out.
Everyone wants to blame someone. As Treasury Secretary Paulson put it - there's a lot of blame to go around. But it doesn't do any good to blame... you have to look at the situation and say, what do we do from here. Well, they're doing it. They realize that if the entire banking system collapses (i.e., if the bailout does not go through), then we could, and will, indeed have another Great Depression. But that will not happen overnight. So saying "oh, maybe in another few weeks" is probably not accurate. You only know you're in one several years after it's already happened.
I think our leaders are smart enough to know that if they shut off credit (i.e., banks stop lending completely), the flow of capital in the U.S. and around the world will start moving like sludge. That would be disastrous. So they will do the right thing - latest news is they're staying in session until a deal gets done.
What bothers me is that the leaders are caving into the populist sentiment of... "oh the rich bad people are gonna screw us again - we need to screw 'em back but good this time!!!" That mentality is not going to get us anywhere. Yes, we need regulation. Yes we need to curb excesses. Yes, we should not let the corporate morons who screwed up get away with millions in pay. But capitalism is still the best economic system we have, and for the system to work, some people get rich and some people are less rich. But if you do away with the entire system, guess what, I GUARANTEE you that we'll be in a depression and that means big pain for everyone. That means LOTS of people lose their jobs. That means the economy contracts. Unemployment in the 30s was TWENTY-FIVE PERCENT. One in four did not have a job. For years, and years, and years. That is real pain, my friends. We have 6% unemployment. That's nothing. Inflation is still moderate. There is time to get out of this mess and put in some regulations (which were taken out by Clinton, thank you very much) to bring thing back to order.
I wish the politicians would stop name-calling and start educating people on what's really going on to stop the panic. Panic begets panic and that's becoming the problem. Expectations drive the future. Perception becomes reality. But no, they're caving into their idiot constituents and screaming "the world's coming to an end and it's all the rich bankers' fault!!!" Well, I got news for you - without the rich bankers, there IS no economy. If you can't borrow money to buy a car, buy a house, or grow a business, we all go down in flames. And that would be a shame.
But read the papers...they do get it, and they're working on it. Just hope & pray it works. I think it will. If not, I'm going to Mexico with my sweetie and am going to live on the beach for the next several years. :)