Recession? Depression? Or Neither?

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Recession? Depression? Or Neither? - 6/6/2008 4:44:39 PM

pinksugarsub

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Pundits seem to disagree about the current state of America's economy. Some say a recession may be coming. Others say a recession is already underway.

There are those, however, who believe a depression --the 1930's variety -- is almost unavoidable now.

http://waldo.villagesoup.com/opinion/story.cfm?storyID=116955

Living in Cleveland, i tend to be pessimistic. P/pl living in other parts of the country may not see things quite so bleakly. P/pl living in other countries may be having any number of economic concerns of T/their own.

If a depression does occur, will W/we have the fortitude of O/our ancestors to survive it? Would Y/you?

pinksugarsub

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RE: Recession? Depression? Or Neither? - 6/6/2008 4:46:52 PM

Aynne

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OMG pink, next to this forum, I post on village soup all the time. The Knox county one that is. How on earth did you find my town's online paper? Small world...lol

They have a great forum section, it is very politically centered. Good call.

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RE: Recession? Depression? Or Neither? - 6/6/2008 4:50:50 PM

popeye1250

Posts: 18104
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From: New Hampshire
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quote:

ORIGINAL: pinksugarsub

Pundits seem to disagree about the current state of America's economy. Some say a recession may be coming. Others say a recession is already underway.

There are those, however, who believe a depression --the 1930's variety -- is almost unavoidable now.

http://waldo.villagesoup.com/opinion/story.cfm?storyID=116955

Living in Cleveland, i tend to be pessimistic. P/pl living in other parts of the country may not see things quite so bleakly. P/pl living in other countries may be having any number of economic concerns of T/their own.

If a depression does occur, will W/we have the fortitude of O/our ancestors to survive it? Would Y/you?

pinksugarsub

With gas prices skyrocketing I'd have to vote for a Depression.
That's going to take the wind right out of the sails of this economy!
Warren Buffet said we're already in a reccession.

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RE: Recession? Depression? Or Neither? - 6/6/2008 4:53:37 PM

Estring

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First of all, a recession happens when there are two consecutive quarters of decline in real GDP. That hasn't happened. Secondly, even with unemployment at 5.5 percent, that is still lower than at anytime in the 70's, 80's or 90's.
How about using some common sense and some perspective?

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RE: Recession? Depression? Or Neither? - 6/6/2008 4:56:34 PM

pinksugarsub

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quote:

ORIGINAL: Aynne

OMG pink, next to this forum, I post on village soup all the time. The Knox county one that is. How on earth did you find my town's online paper? Small world...lol

They have a great forum section, it is very politically centered. Good call.

Thanks Aynne; my Google-Fu is quite good today.

<Goes back and bookmarks the site.>

pinksugarsub

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RE: Recession? Depression? Or Neither? - 6/6/2008 5:11:35 PM

Irishknight

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Can't we have one of each? I want it all!!!!!

Recession ... definately. Depressions... likely.

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RE: Recession? Depression? Or Neither? - 6/6/2008 5:16:42 PM

SugarMyChurro

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What's the real federal deficit?
http://www.usatoday.com/money/2006-08-02-deficit-usat_x.htm

The federal government keeps two sets of books.

The set the government promotes to the public has a healthier bottom line: a $318 billion deficit in 2005.

The set the government doesn't talk about is the audited financial statement produced by the government's accountants following standard accounting rules. It reports a more ominous financial picture: a $760 billion deficit for 2005. If Social Security and Medicare were included — as the board that sets accounting rules is considering — the federal deficit would have been $3.5 trillion.

-----

All is well.

Vote McCain!!!

< Message edited by SugarMyChurro -- 6/6/2008 5:28:34 PM >

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RE: Recession? Depression? Or Neither? - 6/6/2008 5:19:10 PM

califsue

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i think we are in a recession unfortunately. i try to be positive that things will turn around but it is a bit tough at times. i commute 50 miles one way for work daily and although they say the national average for gas is $3.95 or so in central California gas here is $4.50 a gallon and that is without the spike today of oil for $150.00 a gallon.

i can only hope that things will get much better and we won't have a depression like what happened in the 1930's.

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RE: Recession? Depression? Or Neither? - 6/6/2008 5:39:11 PM

popeye1250

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When people can't afford gas to get to work things (the system) will start breaking down.
Shortages, unanswered phones, not enough help in stores, layoffs etc.
I'm getting a credit card that has a $10,000 line of credit on it and when things get really bad I'll "bust it out."
Charge a bunch of stuff and tell them to go fuck themselves.
They can get a judgement against me but "winning" in court and actually "collecting" is two different things, aren't they?

I'll get my piece out of these bastards!
Hey, I went to A.C. and gambled it away, I have a "gambling problem" so go fuck yourself!" "Go down to the casino and tell them you want your money back."
And this time the guilty parties shouldn't get away with it like they did after the last depression!
We need to fuckin' Lynch a whole bunch of rich people! Hang them.
So get whatever credit cards you can and let's hit them hard!
The credit card companies should go bankrupt too, those bastards!
Twenty percent on the vig isn't "usury?"
Bust them out!

< Message edited by popeye1250 -- 6/6/2008 5:44:31 PM >

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RE: Recession? Depression? Or Neither? - 6/6/2008 5:59:58 PM

SimplyMichael

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If you qualify as being low income enough to have a full bankruptcy, now is the time to apply for every credit card you can and run them up to the limit. Prices are going up and since Bush has turned us into a third world economy the value of the dollar is going to continue to fall and the price of gas is going to go through the roof and so the price of everything imported is going to skyrocked and everything domestic will be forced up because of that and fuel.

The price of fuel is going to fall at some point as $150 a barrel is too high but we will never see $50 crude again. Imagine if Raygun hadn't dismantled Carter's energy program, we would be cashing in right now because we wouldn't need oil and would be selling our energy technology worldwide.

Instead we invaded Iraq, made the Saudis who funded 9/11 rich, made their business partners rich (guess who?) and preserved Iraq's oil for future plunder and drop the price of oil through the roof. Cheney used the dipshit neocons as suckers and bankrupted the country by enriching themselves.

I have been surprised at how good the economy has been doing and I think we have worse ahead but at the same time, this is America, we will have Obama in (not my first pick Edwards was mine) but he is the sort of outsider who could do interesting things, whether he will is another question. We could still turn this all around as we are the biggest economy in the world and nobody is willing to bet too hard against us yet, not even the Chinese. However, I am putting in more veggies, doing a beehive for the first time, and thinking about bootlegging in a chicken in my downtown yard.

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RE: Recession? Depression? Or Neither? - 6/6/2008 6:12:18 PM

SugarMyChurro

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SimplyMichael: That was well reasoned and well said. Although, I'd suggest ducks if you're in it for the eggs.

The reason the economy looks OK is because in many ways it actually is OK. The whole economy is a fiction and as long as people believe it, it holds true. Bubble after bubble, crisis after crisis - sustained entirely by the good will of the people that desperately need it to be true.

It's not as if our monetary system were actually backed by anything of substance. So we've had this imaginary economy for decades now.

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Post #: 11

RE: Recession? Depression? Or Neither? - 6/6/2008 6:12:52 PM

slvemike4u

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SimplyMichael just wondering how much credit do you think i can qualify for if I'm low income enough to file or full bankruptcy.There would seem to be some holes in this plan besides the really big one of doing the honourable thing and paying one's debt

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RE: Recession? Depression? Or Neither? - 6/6/2008 6:18:42 PM

Alumbrado

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Well, according to the scaremongers, we've been in a recession bordering on total collapse for about 30 years now..I suppose if they say it enough times it will eventually be true.

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RE: Recession? Depression? Or Neither? - 6/6/2008 6:29:56 PM

popeye1250

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From: New Hampshire
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Michael, you can also incorporate yourself as a business and there's no problems for businesses to claim bankruptcy.
And you can get a lot more credit to bust out as a "business" than as an individual.
Then, if you work it right you can hit them for a couple hundred thousand instead of $40 or $60k.
Thankyou George Herbert Hoover Bush!

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RE: Recession? Depression? Or Neither? - 6/6/2008 9:06:13 PM

Griswold

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Joined: 2/12/2007
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quote:

ORIGINAL: pinksugarsub

Pundits seem to disagree about the current state of America's economy. Some say a recession may be coming. Others say a recession is already underway.

There are those, however, who believe a depression --the 1930's variety -- is almost unavoidable now.

http://waldo.villagesoup.com/opinion/story.cfm?storyID=116955

Living in Cleveland, i tend to be pessimistic. P/pl living in other parts of the country may not see things quite so bleakly. P/pl living in other countries may be having any number of economic concerns of T/their own.

If a depression does occur, will W/we have the fortitude of O/our ancestors to survive it? Would Y/you?

pinksugarsub

There is no depression coming. It's going to be very ugly, depression "like" for some...but it won't actually hit a "depression" level.

In the meantime....survival is assured...(of course). This is nothing compared to what others in the past have gone through. On that level...this is a non event.

(in reply to pinksugarsub)

Post #: 15

RE: Recession? Depression? Or Neither? - 6/6/2008 9:23:12 PM

popeye1250

Posts: 18104
Joined: 1/27/2006
From: New Hampshire
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quote:

ORIGINAL: Griswold

quote:

ORIGINAL: pinksugarsub

Pundits seem to disagree about the current state of America's economy. Some say a recession may be coming. Others say a recession is already underway.

There are those, however, who believe a depression --the 1930's variety -- is almost unavoidable now.

http://waldo.villagesoup.com/opinion/story.cfm?storyID=116955

Living in Cleveland, i tend to be pessimistic. P/pl living in other parts of the country may not see things quite so bleakly. P/pl living in other countries may be having any number of economic concerns of T/their own.

If a depression does occur, will W/we have the fortitude of O/our ancestors to survive it? Would Y/you?

pinksugarsub

There is no depression coming. It's going to be very ugly, depression "like" for some...but it won't actually hit a "depression" level.

In the meantime....survival is assured...(of course). This is nothing compared to what others in the past have gone through. On that level...this is a non event.

Gris, then how are we even going to be able to pay the vig on that $9Trillion debt?
That's the iceberg that's going to sink us!
No-one running for president can keep even one of their promises because the money to fund them just isn't there.
Unless, they raise taxes.

_____________________________

"But Your Honor, this is not a Jury of my Peers, these people are all decent, honest, law-abiding citizens!"

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RE: Recession? Depression? Or Neither? - 6/6/2008 10:14:40 PM

celticlord2112

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quote:

If a depression does occur, will W/we have the fortitude of O/our ancestors to survive it? Would Y/you?

WHEN a depression occurs (and, in time, a depression will come), I will deal with it, endure it, and come out the other side.

Will you do likewise? Only you can answer that.

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Post #: 17

RE: Recession? Depression? Or Neither? - 6/6/2008 10:27:44 PM

SimplyMichael

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quote:

ORIGINAL: slvemike4u

SimplyMichael just wondering how much credit do you think i can qualify for if I'm low income enough to file or full bankruptcy.There would seem to be some holes in this plan besides the really big one of doing the honourable thing and paying one's debt

If you think there is anything "honorable" in paying credit card companies, insurance companies, and their ilk...you are quaint.

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RE: Recession? Depression? Or Neither? - 6/6/2008 10:55:48 PM

Termyn8or

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You don't understand celtic. The money game is played by experts. You have a thousand bucks in your pocket, and you are going to buy something, perhaps a cheap car, a beater with a heater. Guy wants five hundred. But you get jammed up and can't make it that day to make the transaction. So the next day the seller says "Well the dollar has fallen so I have to charge you this much more".

It happenened along time ago in Germany. And it is happening now. There are now countries in which the US dollar is no longer accepted. That is because at the end of the day when they make their deposit, the value has dropped and they are not getting all of their money. Not even one full day. Read, my friends, read. It is much worse than you think. In fact we have a little nest egg that we are considering taking up to Canada, converting it to CDNs and keeping it up there. We are considering it quite a bit, and carefully.

You know why the oil is so expensive ? Demand is in euros. yes, contrary to the sheeple belief there are cars outside the US. I am not saying they are doing right, but business is business. Hell some people in China even have cars now, and those who don't use public transportation which uses what ?

Water ? Iced tea ? I don't think so.

Tell me that GWB does not have alot of wealth in things other than dollars. I got this oceanfront property in Arizona.

We also own an island in Belin NM if you are interested. Your's for the taking because we haven't paid the taxes on it in twenty years. Have at it.

I don't even know now why we bought a safe, well I guess it's OK to put the guns and the silver in there. Dollars are by far the worst thing to have. Every fucking day it it worth less. That means it is worthless.

And they know it, look at all the ads on TV looking to buy gold, silver etc. Why do you think these ads proliferate now ? Any scrap metal is at an all time high. Wait, this is the same thing, it is worth the same. Why does it bring more dollars now ?

The metal is worth the same amount, it is the change in the value of the dollar that makes this happen.

T

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Post #: 19

RE: Recession? Depression? Or Neither? - 6/7/2008 12:07:12 AM

Vendaval

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quote:

ORIGINAL: SimplyMichael
However, I am putting in more veggies,

Will they all get along on their own or will you have to introduce them first?

doing a beehive for the first time,

Nah, don't bother with that. You will spend a fortune on Aqua Net!

and thinking about bootlegging in a chicken in my downtown yard.

You get the eggs and meat for food and the feathers for stuffing pillows. Just remember how noisy chickens are in the early hours.

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