USA = Financial Titanic?
 

In the early 20th Century, every Briton thought the Titanic was so large and invincible.

But bad management and an iceberg destroyed it.

*** Bush Administration+ Financial Iceberg= Catastrophe. ***

http://www.solarnavigator.net/images...g_atlantic.jpg

I am worried.

ok its getting boring now

that was the worst day for lots of ppl
how sad "(

hmmm increasing exports to supersize the economy, does not equal titanic... its more like a submarine

Umm titanic had defective parts and they scrapped lifeboats. Ah just nitpicking.

So who today is the dude who jumped off early on drunk as hell and survived?

BUSH .......

Yes, very insightful

if it does goes down it will drag the whole world with it... doesn't matter if you are from canada or europe or china or if you invest in gold or real estate or art or whatever else people invest in, if the titanic goes down, the whole world economy will sink with it...

Yes of course.
Because European porn webmasters aren't getting as many euros for their dollars anymore, it means the entire US economy is on the verge of collapse.

</sarcasm>

Well said

When you put it like that, it does make me feel a little bit better.

Brad

On the weekend I watched a documentary about central banks and the Federal Reserve. I didn’t know it was a private corporation. Shows you how much I know though. I am sure its no new to must here.

Bump ...

Agree - there is nothing like hiding the foreclosure notice under the carpet :winkwink:

Sure foreign webmasters may be moaning now (along with many investors who pulled from US dollar markets), but, it's nothing in comparison to the effects of a weak dollar on the US economy. By the year end the cost of higher imports, oil etc will have increased from a trickle to a flow - not good news for anyone.

Not too worried...

In reality it would really fuck up the rest of the world if we went down. The rest of the world would be fucked without the exports we do have and would be doubly fucked if we suddenly stopped buying what they were selling.

Correct...

WHAT THE FUCK IS GOING ON? :mad:

PetroChina's Value Tops $1 Trillion, Surpassing Exxon
http://www.bloomberg.com/apps/news?p...CuA&refer=asia

50% of the world's largest companies are Chinese.

http://www.iht.com/articles/2007/11/...llionaires.php

China's economy generates billionaires by the dozen

http://liverpoolchamber.files.wordpr...china-flag.jpg

Yang, Guo and Zhang???????????

WTF!

Move to China.

NO WAY. :Oh crap

Or what if none of the economic fear-mongering is true?

http://www.ibdeditorials.com/IBDArti...78895915214665

How much is the IRAQ WAR costing the US?

It is correct that productivity was up for the last quarter - oldish news now and over-ridden by other problems in that quarter. 3.9&#37; was actually very good and better than the forecast of 3.8%. It's a pity this can't be sustained thru the year - else there would be a chance of seeing something more positive over time.

Unfortuately this current quarter is expected to be fairly bad, mainly due to the economic situation gathering momentum, but, you never know - it is possible a decent percentage could be there, despite the background problems.

Other good news appears on a Fed survey of banks - they are generally tightening up on the issue of loans and remortgaging, obviously to cover their own asses, but it does keep the "quality" of loans higher and less chance of defaulting.

Any figures on employment are meaningless unless they can support them and give foundation for the calculation. This is the same mob who claimed something like an employment again of around 426,000 at the end of last year - and this was then revised to 19,000'ish. They are prone to hype and fantasy and trying to convince people it's the truth.

Bad news is the home problem is not showing any signs of bettering. Just read forecasts earlier of financial institutions being loaded with $1 trillion of sub-prime mortgage problems in next year or so. That's one hell of a lot of homes banks will have on their hands which they don't want. There may be a clue in banks being more flexible with customers on mortgage terms where a customer has a chance of repaying - it sure is better than homes standing empty and people without decent shelter.

So far about 1.7 million people have had foreclosure proceedings and an expected further 2 million over the next few years. According to the Joint Economic Committee, one in five mortages are now in jeopardy, tho these are usually related to sub-prime.

Believe me - it's not fear mongering - it's real life for many unfortunately and that can be painful. Needless to say the dollar dropped again and oil is on a fresh high of $97ish. Got little doubts oil will reach $100 now and the dollar will keep sliding each month until there is light at the end of the tunnel - tho, you'd need a magnifying glass to spot that speck of light - bad news.

These are the kinds of things I've been pointing out for months here, but every time I do the euro brigade comes in and tells me that I'm looking at the wrong numbers, or that the government falsifies the numbers, or that the government hides the true data, or that they have a line graph that corresponds to a pie chart that ties into a Nostradomus prediction that the US economy is going to collapse and by this time next year we'll all be begging the chinese for lead based paint to feed to our kids.

XE.com is reporting 1 USD = 0.90905 CND !

And that is the acid test :thumbsup The day the dollar starts gaining value is the day there may be some hope a recovery is on it's way. Until then - there is no confidence and until there is confidence, not only within the US public, but elsewhere - stats are meaningless and something to hide under the carpet.

$7000 per household = The cost of the war in Iraq.
But yet does any Americans here feel they've given up that much to the government this year? No? Hmm, wonder where all that money's coming from ...

Hint: If you have kids or are planning on it, you better start an investment fund soon - they are going to be footing quite the bar tab by the time they hit adulthood.

The only good news in all of this? American porn is now stunningly cheap for everyone else in the world. 6 or 7 years ago, American porn was fucking expensive, costing upwards to 50 euros for a membership. Now, your $29.95 price converts to about 20 euros and still dropping. It makes selling porn memberships priced in American dollars a little easier (but not as profitable for those of us outside the US).

:thumbsup

yes, they constantly changed the way how the stats are counted and thats a proof.
eg. latest job report:

"The U.S. October employment report came better than expected. But the details of this report are much weaker than the headline figure of 166K non-farm jobs created in October.

First, the establishment survey says that 166K jobs were created in October. But the household survey says that 250K jobs were lost in October. Which survey is more correct? In years when the economy was growing rapidly (2004 to mid 2006) the household survey was showing faster growth than the establishment survey. Indeed at that time supply-side commentators used to write every other month (in the op-ed page of the WSJ and other media outlets) that the household survey was a much better measure of the employment situation as the establishment survey did not fully reflect self-employment and new smaller businesses. But whether one survey or the other is a better proxy of the true state of the labor market depends on when you are in the business cycle. When the economy is growing fast ? as in 2004-2006 - the household survey may overestimate job creation; when the economy is slowing down ? like now - the establishment survey may overestimate job creation and the household survey may be a better measure. So today the household survey tells us that 250K jobs were lost in October."

from:
http://www.rgemonitor.com/blog/roubini/

don't worry, the Democrats are coming, they are going to fix it.

Mmmm.. spoke too soon! Oil is now up to over $98 at the moment - and 100% certainty it will reach $100 shortly.

More flagface bs - and a load of irrelevant crap :1orglaugh

Don't worry about the rest of the world on oil - they have a balanced economy and buying oil from a stronger currency. What has the retail price of gas got to do with oil markets at $98/barrel??? Some countries actually tax gas and get revenues - try it sometime - along with the balanced economy!

And - no, "the majority" of the US home mortgage lenders are American, - you think they were Icelandic? But, dream on :thumbsup

More proof you are a total flagface retard with nothing to offer - other than pretend black is white??? It's a common habit with flagfaces - they all ooze hatred and whine about "American haters", but still remain clueless - ironic and sad.

Sure... it's always been a dream to be an "American" and live near retards like you :1orglaugh

Feeling insecure that you need to keep trying to defend something flagface - why is that??? :1orglaugh

I despise total trash who cannot even get their heads around basic facts and try to deny their existance then construct fantasies in an effort to defend something - it's common with the brain dead and the dumbed down species.

All these "facts" you just spewed out as a defence - not one of them is true. The typical charicature of the Dumb American - totally ignorant. Sheesh you are impressive :1orglaugh Ever thought of becoming an economist?? *lol*

Don't get your frilly panties in a flagface twist over nicks or my brillance :1orglaugh:1orglaugh

Fine - so you decided not to ooze your hatred of others now, have you?? :1orglaugh

BTW - Oil is still at $98 - pity that upset you :1orglaugh



PS I'll let you know when it reaches $100 and you can spew more crap

Of course it didn't - you just needed to play the keyboard warrior and defend - I understand the disease only too well :1orglaugh:thumbsup

No need to, China will move to you instead. Start taking Chinese lessons.

i agree
by the time this forthcoming recession is over, there will major changes in the world

simple but crucial point :thumbsup

when are the next elections in USA?

Ok now you're on ignore along with Grey Wolf.

You're like a fucking broken record.

You're right dude, everyone in the US is broke and unemployed. None of us really have jobs the government just makes up reports saying that we do so they can borrow money from foreign countries.

teomaxxx:

Congrats man :winkwink: Would it be nice if the other few trolls put us on ignore as well? At least threads might not be clogged up with stupid nonsense and irrelevant flagface bs :thumbsup

Not correct. Not to long ago, the UK was the financial economy on this planet.
Then the US took over with time and now it seems to move to China.