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Author Topic: I see an economic diasater coming...  (Read 1440614 times)

triffid

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Re: I see an economic diasater coming...
« Reply #615 on: August 16, 2010, 03:29:30 PM »
Here is a paragraph from an article on what we could expect from a double dip
recession on JOBS:2. Unemployment

Unemployment would move back above 10% quickly. In the 1982 recession, the jobless rate was over 10% for 20 consecutive months and reached 10.8% for two months. During this period, the manufacturing base had not been destroyed. The economy is now arguably worse than it was in 1982. Many Americans who worked in manufacturing before the recession cannot be retrained, and the factories where they worked will not be reopened. Many companies have recently adopted the policy that they will keep as much of their work-force temporary for as long as possible. This keeps the cost of benefits low and allows firms to fire people quickly and without severance. A hiring strike by American businesses would contribute to putting 200,000 to 300,000 people out of work per month. At the peak of the recession that just ended, there were nearly six job seekers for every open job, according to the Labor Department. The job market could return to that point.

triffid

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Re: I see an economic diasater coming...
« Reply #616 on: August 16, 2010, 03:36:39 PM »
I am reminded that if you have a job you have no recession.If your job has not left you.You don't leave your job.During the recession of 1982 I was gainfully employed.Our hours went down to less than 40 (39.9)a week so I had no overtime for a couple of years but it was not a major concern.Most of the recessions in my life I did not even notice due to being gainfully employed.Since 1975 I have lived through 3 or 4. triffid

triffid

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Re: I see an economic diasater coming...
« Reply #617 on: August 16, 2010, 03:56:45 PM »
What the stock market could look like in a double dip recession.If the performance of the equity markets in 2008 and early 2009 is any indication, the S&P 500 would drop from its current level of about 1,100 to a low of 676, which it hit in March 2009. This would take trillions of dollars off business balance sheets and from consumer retirement and brokerage accounts. Businesses would become less likely to invest in new plants, equipment and services. For individuals, many would see a large part of their retirement disappear. That would cause a huge drop in consumer spending as people attempt to preserve cash, perpetuating further drops in the stock market

triffid

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Re: I see an economic diasater coming...
« Reply #618 on: August 16, 2010, 04:00:35 PM »
What this tells me is to hang on to my cash.Don't buy stocks right now.Cash is still king until the government makes it 100%worthless(When???).How would I know?

triffid

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Re: I see an economic diasater coming...
« Reply #619 on: August 16, 2010, 04:04:32 PM »
The same article tells us what would happen to banking in case of a double dip recession.The effect on most of the financial services industry would be catastrophic, particularly at the regional and community bank level where a number of home and commercial real estate loans are held. The FDIC would be forced to borrow money from the Treasury to cover bank closings. The number of failed banks could reach the level of the savings and loan crisis during which over 700 banks and mortgage lenders were shuttered

triffid

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Re: I see an economic diasater coming...
« Reply #620 on: August 16, 2010, 04:06:27 PM »
I lived through the Savings and loan crisis.It did not affect me very much.So I don't think more bank closings will affect me too badly.triffid

triffid

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Re: I see an economic diasater coming...
« Reply #621 on: August 16, 2010, 04:39:49 PM »
Just to make sure everyone is informed here. The U.S. Government passed a bill that says products from other countries no longer have to be identified as such. So, if your looking to buy Amercian, good luck with that. Since now we won't know where our products are actually coming from. My guess is that many people were trying to buy Amercian products and import sales dropped. So our Government made it more difficult for us to identify these imported goods at the point of purchase.

cletushowell

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Re: I see an economic diasater coming...
« Reply #622 on: August 16, 2010, 08:43:58 PM »
Trust mme we know there both shit try
passing a law that says if it dont last 100
years you cant sell it fuck make it two years
that be a miracle all the products are made the same shit
when the quality of the product is defind by its competetion
and the competition is defined by the price and volume
you will never have a standard for quality
without goverment and Goverment we all know is shit
so there you have it all the quality of the Goods suck
when the dollar declines then more people buy goods from us
making our factories our jobs build then
the newest technology can be built then crash the other countries 
tell me how you trade stocks with no computers
and no cash
I tell you. You just eliminated the whole scandles
and all the fake wealth of people who think they own a part of a company
then try to fight over that company in court you be dead by time the courts are done

the_big_m_in_ok

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Re: I see an economic diasater coming...
« Reply #623 on: August 17, 2010, 02:06:56 AM »
...I tell you. You just eliminated the whole scandles
and all the fake wealth of people who think they own a part of a company
then try to fight over that company in court you be dead by time the courts are done
Yeah, I agree with practically everything you said.
Speaking of fake wealth, Obama's *stimulus*  **package** has about run out, or will in due course, and he's got no more bullets in his economic *gun* to fire at the meltdown bubble.

Look at this:
http://www.housingpredictor.com/double-dip.html
http://www.itulip.com/housingbubblecorrection.htm

Even if the housing prices bottom out from falling further, unemployment, as well as increasing mortgage default rates---which are badly spooking Washington analysts now---will signal no end in sight.
If it isn't the former Gulf oil spill contributing to unemployment (it can, easily) then there's a potentially crazy maniac in N. Korea, earthquake survivors in Haiti, newly disastrous flood survivors in Pakistan (fresh floods coming in a few days to 20,000,000+ victims), the euro zone financial uncertainty, and any/all other future, unknowable natural disasters.

People are getting scared and angry.  But, cletushowell has a point in being down on the economy and the greed that caused it.
The ancient Roman Empire in the 5th Century experienced some of the same problems the world today is.  That collapse started the Dark Ages.

Now, people want to receive debt-loaded bailouts, but they want someone else to pay for it while they continue to spend freely with more debt of their own.

Nobody gets absolutely everything they want.  Especially now.  The bubbles are deflating.

REEDIT:
Lastly, just in to me...
http://finance.yahoo.com/career-work/article/110344/what-the-double-dip-recession-will-look-like

--Lee
« Last Edit: August 17, 2010, 04:03:48 AM by the_big_m_in_ok »

triffid

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Re: I see an economic diasater coming...
« Reply #624 on: August 18, 2010, 08:03:51 PM »
Just a balanced budget, for 30 years, will pay off all U.S. debt, just like making a 30 year house note, the U.S., with balanced budgets, would pay off 30 year treasury bonds. Now, getting to a balanced budget, now that's where alot of us disagree?triffid

triffid

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Re: I see an economic diasater coming...
« Reply #625 on: August 18, 2010, 08:06:27 PM »
I just read a statement saying that 2027 is when all the ##&^ hits the fan.
If our course of action remains the same.Triffid

triffid

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Re: I see an economic diasater coming...
« Reply #626 on: August 18, 2010, 08:22:38 PM »
How can we double dip, when in actuallity, we still have negative growth?

Lets explain this as simply as possible.
If you have a net worth of $200,000.00, & you rack up $50k on a credit card, are you still worth $200k? No, any bank will tell you, you are now worth only $150K.

How then can our government in 2009, rack up $1.422 trillion on our credit card, & yet claim 3.5% growth? If you take our GDP of $14 trillion, divide it into the $1.422 trillion borrowed, it means 10.2% of GDP was borrowed money, artificially pumped into the economy. 3.5% - 10.2%, ='s a negative 6.7%. This money has to be paid back some day, so there are interest payments to be made (30 years of it), increasing that negative 6.7% into the future.

triffid

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Re: I see an economic diasater coming...
« Reply #627 on: August 18, 2010, 08:27:47 PM »
Hi America, what happens today teaches us a valuable lesson. NEVER let other people manage your money. ONLY YOU alone are allowed to do that. When people let the government and the bank take care of their money, they blew it. The big banks get bail outs while the small banks are forced to close or eaten up by the big banks, small businesses collapsed, jobs are lost while CEOs are paid indecently. Money put in 401(K) are toast as the stockmarket crashes. People cannot retire because they can't afford medical, their retirement funds toasted. Let's face it, only we can take care of ourself with wise money management. Its better to manage my own money than let other people do it. Look what they did due to greed. Good luck America and the world but don't give up. One day the sunshine will still come back. Hang on there! triffid

triffid

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Re: I see an economic diasater coming...
« Reply #628 on: August 18, 2010, 08:32:29 PM »
It may take 7 to 10 years for some people to recover.But the worse credit record has a federal statue of limitations and thats 7 years.No need to commit suicide over money problems.Fear less if you can.Some states don't require 7 years of waiting.okla(3) and texas(4).triffid

triffid

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Re: I see an economic diasater coming...
« Reply #629 on: August 18, 2010, 08:39:11 PM »
Avoid mutual funds.They use 6-grade math to decieve you.A mutual fund that claims 25% a year can double your money or reduce it to zero after 5 years.Using the same math you learned in 6-grade.A very great deception.I got talked into some mutual funds a couple of years back and have seen them fall in value by about 25%.Now they send me letters saying I need to increase the amount I have in there.No way I'm sending more.Triffid