those smarter than me explain..........
 

how is the US gonna stop a full blown economic depression? this looks scary - in my lifetime i've never seen anything like this.

I think you guys had one in the 30's? And you managed to get out of it then.... no worries :)

Don't we have a big scare every year or two?

In the 30s they did not have food, they did not have shelter, they did not have jobs... that was a depression.

why would you want to stop it is my question? the more you patch it up, the harder it's gonna break later on.

I think even you would have to admit this is beyond any small economic scare, specially most any in most of our lifetimes. Only thing semi close would of been perhaps the savings and loan issue. I just seem to think this time around it is much worse than that was at the time with many other factors in place.

Unless you are WAY younger than I thought you were then you saw the failure of the S&L's in 1990. We are talking about 750 banks going belly up to the tune of more than $160 BILLION dollars (in todays money thats more than $250 BILLION). At the same time new home construction dropped IN HALF to the lowest point since WWII.

It was a tough time in America...but like everything before it....we got over it. ;)


--T

its going to be a wait and see for the next 18-24 months..

i think what makes this different from the 90's is that with all the outsourcing to foreign countries like china and india, jobs were lost that are not going to return.

combine that with a growing life expectancy rate and seniors outliving their health benefits, the burden on the govt (taxpayers) its hard to see a way out of this mess.

the other troubling issue is that the US is becoming more and more indebted to countries that are 180 degrees from our ideologies and it seems like foreign investors are buying up large positions in some of the US major entities.

i remember I got laid off from mercedes benz and worked multiple shits jobs for a year and half til the job market opened up again. One the thing we should remember from the S&L crisis is Mccain protected charles keating and it costed the american people 2.5 billion dollars.The law firm keating founded gave 50k to John Mccain campaign for president.

unfortunately you are correct :mad: i am very much old enough to remember 1990 - few years older than you even!

BUT i really don't remember the impact of the S&L crisis - had no business or assets to speak of so didn't personally affect me.

I'm not that educated when it comes to the economy either but for what I have seen this is shaping up to be worse than in the 90's. I could be completely wrong though, I was a teen back then so didn't pay much attention to it and it didn't directly affect me or my family back then. Now it seems to be affecting every person I know one way or another.

In the 30's we were a nation of producers, now we are a nation of consumers.

they will print more money, thats what they did last time :)

we need to send more troops!

imo the economy is still strong, just the housing market fucked everything up. it'll come back give it time. Americans like spending money too much

There's no need to worry people. Remember, the new economy is all about FREE! Nobody needs jobs or money when everything is free. They'll just put little ads on all our food.

But seriously, I don't think it will be a sudden decline like everyone is predicting. It will be a long slow decline pretty much from here on out.

Like marketsmart mentioned, the jobs that this country lost are never coming back. A huge number of people in this country are going to see their standard of living fall year after year. There are just no jobs for most of those people anymore and there never will be again.

Precisely.

When WWII started, the manufacturing boom helped kickstart the economy.

Now - much of that manufacturing no longer exists. i.e. Bethlehem Steel in PA.

Its going to take visionary leaders with unique and innovative strategies to turn things around this time.

These failing banks and Wall Street volatility are signs of the times.

Luckily for us, that's exactly who we are as Americans.

yep, im right. USA have no reserves but gonna put shitloads of money in the economie. How.......just print more money. There is no foundation for it. Bad in long term.

they will print more $$$

no, that's "who we were" as americans.

now we are a nation of 1/2 retarded morons rallying behind some guy who has said nothing but "hope", "change" and "its not your fault and the government is going to come protect you from your own idiotic behavior"

I'll help!

:thumbsup

We go to war like we always do. Nothing boosts the economy like war (a real war) :(

and no internet!! What the hell did they do all day??? :1orglaugh

Give it time. :)

Gee, what do you think caused the whole mess to begin with?

"those smarter than me explain.........."

This is gonna be a long fucking thread. :1orglaugh


.

Thats what you get for voting a cabal of secretive gangsters into office.

this is just the beginning. once the credit spigot gets turned off it will take some time for that to work through the economy.

in all honesty man, north america isn't the only one having trouble.. UK, Russia, China all have shitty economies atm