Economic Depression
schwarcw
Posts: 7,335
I've seen a lot of posts by money professionals and some non professional opinions on the topic of the congressional bailout of the banks. The Dow keep dropping. Could we be headed for a worse depression that the one in the mid '30's? 50% unemployment, soup kitchens, Carnivals, the Kennedy's get rich. What could be the outcome of this mess???
Carl
Post edited by schwarcw on
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Bring it on...........glad I'm debt free and self-employed. I could use some slowdown, I'm so busy I can't get caught up. Housing went up 23% in the last 8 months where I live with people sleeping in parks due to the lack of rentals or houses to buy. Damn oil booms......;)HT Optoma HD25 LV on 80" DIY Screen, Anthem MRX 300 Receiver, Pioneer Elite BDP 51FD Polk CS350LS, Polk SDA1C, Polk FX300, Polk RT55, Dual EBS Adire Shiva 320watt tuned to 17hz, ICs-DIY Twisted Prs, Speaker-Raymond Cable
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funny our sales have increased in the past 6 months, and we have opened 15 new accounts in 4 different states ........guess people turn to sushi in troubled times.....
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Ha you should see my medical bills. Whats up guys all hopped up on pain pills but doing good the insurance agency is going to cover the bike fully and give me a new one but I dont know when I will be able to ride it again. I know people still need cd's and games getting them out tomorrow. Take care all.HT setup
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I've seen a lot of posts by money professionals and some non professional opinions on the topic of the congressional bailout of the banks. The Dow keep dropping. Could we be headed for a worse depression that the one in the mid '30's? 50% unemployment, soup kitchens, Carnivals, the Kennedy's get rich. What could be the outcome of this mess???
But yes, these are troubled times ...Alea jacta est! -
I'm glad i work for NYC.SRT For Life; SDA Forever!
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actually, during the depression years of the late 20's, United States had the lowest unemployment rate.. statistically....
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Watch what you say Ed, You might be cleaning up more suicides and jumpers!
Not in the bronx .SRT For Life; SDA Forever!
The SRT SEISMIC System:
Four main satellite speakers, six powered subs, two dedicated for LFE channel, two center speakers for over/under screen placement and three Control Centers. Amaze your friends, terrorize your neighbors, seize the audio bragging rights for your state. Go ahead, buy it; you only go around once. -
For a number of reasons....it won't happen.
BDTI plan for the future. - F1Nut -
CTC BBQ Amplifier, Sonic Frontiers Line3 Pre-Amplifier and Wadia 581 SACD player. Speakers? Always changing but for now, Mission Argonauts I picked up for $50 bucks, mint.
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I think our population is too large and diverse to return to the depression stage. So no, I do not feel we are going to wind up that way. We have so much to focus money on, and diversification that people spend on B if they can't get A.Current Setup:
Yamaha AX-450 Amplifier
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polkaudio R150's -
I've heard a few mentions about the DOW getting down to Mid 8000's before it all bottoms out..........fun times, huh?comment comment comment comment. bitchy.
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I wouldn't be a bit suprised...
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Interesting opinions. I am interested on your opinion of what will happen as a result of these problems in the markets. Regulations, loan guidelines, credit card limits, socialism, ????
I think we've put our selves into a corner, we don't want to make bad loans, but we want to ease credit so consumers can spend. I see a fine line that banks will have to walk when it comes down to lending money. This is not good news to new home builders, renovators or department stores. ****! They may even take away credit cards from college students!Carl -
And they're still talking about cutting rates...this should be interesting."He who fights with monsters should look to it that he himself does not become a monster. And when you gaze long into an abyss the abyss also gazes into you." Friedrich Nietzsche
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Eh, I figure this one will be similar to the dotcom bubble burst combined with 9/11 collapse and not the late 30's depression...There is no genuine justice in any scheme of feeding and coddling the loafer whose only ponderable energies are devoted wholly to reproduction. Nine-tenths of the rights he bellows for are really privileges and he does nothing to deserve them. We not only acquired a vast population of morons, we have inculcated all morons, old or young, with the doctrine that the decent and industrious people of the country are bound to support them for all time.-Menkin
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Eh, I figure this one will be similar to the dotcom bubble burst combined with 9/11 collapse and not the late 30's depression...
DING! Fries are done.Expert Moron Extraordinaire
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For a number of reasons....it won't happen.
BDT
The good news is, housing is still down so I've started looking for a second. Hopefully within the next year I can swing it, not quite ready yet but if the market stays where it's at I'll make it work.If...
Ron dislikes a film = go out and buy it.
Ron loves a film = don't even rent. -
This is a recession, and indeed, it has the potential to develop into a nasty one.
However, A recession, even a deep one, is still not a depression.
The (world's actually) economy is down with an incapacitating flu.
Not a massive stroke or a cardiac arrest (depression).
When a healthy person in infected with the flu, he can't go to work,
eat right, sleep well, there's pain,fever and headaches. not fun.
(a lot of people loosing their homes, jobs, and savings are threatened)
However, if treated properly (The governments and central banks take big action,
and do everything possible to ensure they better protect the pubic
in the future , and actually succeed in convincing folks of that),
the brain, heart, lungs and skeleton are not damaged.
After an inevitable painful hilling period (an unfortunate recession) the body recovers."If the global crisis continues, by the end of the year Only two Banks will be operational, the Blood Bank and the Sperm Bank. Then these 2 banks will merge and it will be called 'The Bloody **** Bank'" -
Dennis Gardner wrote: »Bring it on...........glad I'm debt free and self-employed. I could use some slowdown, I'm so busy I can't get caught up. Housing went up 23% in the last 8 months where I live with people sleeping in parks due to the lack of rentals or houses to buy. Damn oil booms......;)
We're happy for you..Pioneer Elite VSX-53, Polk RT800i fronts, Polk CS400i center, FX500i surround, Velodyne sub -
This is a line banks should have been walking ALL THE TIME! Thier's & consumers stupidity and greed is why we are in this mess! If this reinstills people with some common sense then it will be worth it.
In the meantime, if you work for an insurance company or bank, I hope you wern't dumb enough to buy thier stock outside of what you already have tied up with them as far as a job/401k!... I see a fine line that banks will have to walk when it comes down to lending money. This is not good news to new home builders, renovators or department stores. ****! They may even take away credit cards from college students!Marantz AV-7705 PrePro, Classé 5 channel 200wpc Amp, Oppo 103 BluRay, Rotel RCD-1072 CDP, Sony XBR-49X800E TV, Polk S60 Main Speakers, Polk ES30 Center Channel, Polk S15 Surround Speakers SVS SB12-NSD x2 -
This is a line banks should have been walking ALL THE TIME! Thier's & consumers stupidity and greed is why we are in this mess! If this reinstills people with some common sense then it will be worth it.
How about our own government not forcing banks to give out risky loans under the guise that everyone deserves to own their own home?
Not to say the banks and greed aren't largely responsible but let's not forget there are many factors at play beyond the trite and lazy excuse of "corporate greed."If you will it, dude, it is no dream. -
Two major mistakes after the crash of 1929 were Hoover raised the top tax rate from 25 to 63% (Revenue Act of 1932) and greatly increased tariffs (Smoot - Hawley Act) which stopped most world trade.
Mr. Obama wants to greatly increase taxes to a top marginal rate of over 50% and wants to unilaterally ditch NAFTA and stop GATT and most other world trade deals.
So, if history repeats itself, as it often does, and Obama is elected and he will not learn from the past, we will have a depression. -
Two major mistakes after the crash of 1929 were Hoover raised the top tax rate from 25 to 63% (Revenue Act of 1932) and greatly increased tariffs (Smoot - Hawley Act) which stopped most world trade.
Mr. Obama wants to greatly increase taxes to a top marginal rate of over 50% and wants to unilaterally ditch NAFTA and stop GATT and most other world trade deals.
So, if history repeats itself, as it often does, and Obama is elected and he will not learn from the past, we will have a depression.
I'm no politics expert, nor do I feel very strong about either candidate, but I can't stand generalizations... The tax plan that is semi-detailed on Obama's website shows a tax CUT for anybody making under $250,000 per year and tax rates will go back up to what they were in the 1990's for those making over $250,000 per year. That effects around 2% ish of the population.
http://www.barackobama.com/taxes/HT
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Me and my family feel the crunch.
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My 401k is down over 30% year to date. 30%!
Luckily I'm 28 years old and won't need it for a while, but STILL. I would have been better off stuffing 7% of my money under my mattress.If you will it, dude, it is no dream. -
bobman1235 wrote: »My 401k is down over 30% year to date. 30%!
Luckily I'm 28 years old and won't need it for a while, but STILL. I would have been better off stuffing 7% of my money under my mattress.
Think of it this way, you're buying in at 30% off. -
I've heard a few mentions about the DOW getting down to Mid 8000's before it all bottoms out..........fun times, huh?
I'm not convinced we will stop here either. The selling volume is still very heavy. I should have just spent my spare cash on new gear ...Alea jacta est! -
It's panic. We have probably been in a recession...and it will continue...because everyone believes it will. Probably another year. The depression probably won't happen because there are too many safeguards in place that weren't there in '28. The bailout will help the banks and put capital into the market and that will help us ease out of the recession.
Hopefully everyone will learn from this...quit being greedy, work hard and earn what you have and forget the "get rich quick" strategies, live within your means, understand what you invest in, and on..an on...and on...
Realize too that this is the stock market...and the problems are not really based on anything to do with the companies that make up the market and their underlying strength. Most people have no idea what they have invested in and so have no clue whether they are good investments or not. There are many good companies that will make money..regardless of the fears of investors. We will get through this when we quit panicing and get back to basics and quit worrying about our "investments". The economy has problems but IMO it is not as bad as the MARKET acts like it is. Time will tell."Just because youre offended doesnt mean youre right." - Ricky Gervais
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"Consistency requires you to be as ignorant today as you were a year ago." - Bernard Berenson -
"...quit being greedy, work hard and earn what you have and forget the "get rich quick" strategies, live within your means,....."
This country needs a healthy dose of that, even if it has to be shoved down its throat. -
Am I the only one that realizes Ra's Al Ghul is behind all this?
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