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We need a good war. America loves a good war and its always good for the economy.
we are in a war dude
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Quote:
We need a good war. America loves a good war and its always good for the economy.
we are in a war dude
You and me both.. I already know one stock I'll be buying up if McCain wins.Quote:
Originally Posted by thcbongman
GE... who builds nuclear power plants? Who builds windmill turbines... oh GE will be a gold mine and Buffet even decided to dump some money in, albeit only 1.4% of his networth, but Buffet is no fool. I'm waiting for a few more factors to come in before I jump on that bandwagon.
Socialist bailout for the stupid Capitalist.
See the 1980-1981 recession. My dad bought a house during that time, and his interest at that time was 13%, and that is with jumbo prime credit and a 50% down payment. Things were much worse then, minus a credit freeze.Quote:
Originally Posted by JakeMartinez
It is never of the best interest to any bank/ lender to spurn default. Defaults lower property values, hence they will lower the nominal value of future loans until it restores itself. Foreclosures make nobody rich...Quote:
Everyone started buying homes that are way beyond their means to pay, and corrupt bankers counted on them to default on these foreclosures to make them filthy rich as they keep turning around the property to new borrowers, etc. etc. It was only a matter of time before that led to a collapse of the housing industry.
False! Wages associated with increased fuel costs have most definitily gone up. For instance, trucking companies/ owner operators would either have to raise costs associated with inputs (fuel) or go out of business. Since trucks are still on the road, i would believe they raised prices. This is an example of demand pull inflation...Quote:
2: Costs of Energy and Living
Obviously, these costs have gone way up without a corresponding raise in wages, which (coupled with those being foreclosed on), has made it much harder for the average american to spend money on more than what they need to survive. Thus, the economy slowwwwwwwwws down.
Money is not the issue, as fractional reserve banking is dependent on a reserve system (The Federal Reserve) that has in theory, unlimited money. Interbank lending has doubled in cost the last two months (LIBOR). The slowdown in interbank lending has in essence froze credit markets, or at least made it unattainable for so many.Quote:
Those are the root causes. They, in turn, triggered these.
3: Credit Crunch.
Banks and people have less money, so banks are less willing to lend money to them. Our system depends on loans to create new money, according to the fractional reserve system, and money therefore is gradually losing its value. With loans slowing down, we could easily see a contraction on the horizon.
Just as in all recessions in the past, this one will be accompanied with unemployment and negative growth. Black Monday, of 1987 saw a decrease of 22.6%, still the single day record; more than the '29 crash, more than the '32 crash. Employment is still relativily high, and growth is expected to halt, and not expected to decline until the holiday season.Quote:
4:Consumer confidence, trust, and investor confidence.
Everyone's rattled by what's going on. Investors are hanging on every word the government says, hoping their precious investments are safe. Consumers are afraid of companies they rely on being crippled and the possibility that their employers won't be able to pay them, and gradually our trust in each other is being eroded.
EVERY person who has bet against The United States of America has LOST! What is going on at this moment has happened throughout the 20th century (minus credit markets but that is another story in itself, and will be repaired as the bailout takes effect, just watch LIBOR). This is what they call the business cycle.Quote:
What can we do to fix it?
I believe our system is doomed to collapse eventually, so the sooner it does, the sooner we can make a new, socially relevant system.
I won't say what system could replace ours, but I know socialism, free market trade, and communism aren't the answer.
If we wanted to keep the system, though, the only way we could get it running again is to nationalize a LOT of debt.
I'm not comfortable with that idea. I didn't do anything to deserve such a massive amount of liability.
Things will get better in time, you can bet on it:jointsmile:
I hope your right Golden. Throughout my experiences with our gov't, (9yrs active Army, 4 yrs at Ft Knox brig) I have lost ALL faith in our gov't as well as the people. We won't even get so much as a minor hippie rebellion. Our country is so set in make money, make money...cry, cry, cry....That no one is gonna change shit. Candidates winning the popular vote, but not the presidency. Cheney shoots someone, Laura Bush kills someone.Lose soldiers lives over oil...Then people complain about how fucked up shit is, and forget about it 2 days later, and continue taking it up the ass....Quote:
Originally Posted by GoldenBoy812
I hope your right, I sure as shit don't want to be.
whiskeytango
Popular vote was intentionally avoided by the founding fathers because of their distrust of democracy. Up until the 17th amendment, senators were elected by state legislature. The electoral college was put in place to avoid the excessive nature of democracy.Quote:
Originally Posted by SnSstealth
We are not a democracy, but instead a republic. Therefore popular vote is not needed.
We'll see what happens, Goldenboy. Especially if the countries we owe money too decide to dump it to cut their losses.
Then they lose big time!Quote:
Originally Posted by JakeMartinez
If not, then the world would collapse! Since we have not collapsed in even grimmer times, i doubt it will happen now. Even if it does, it will not matter because we all will be cavemen/women!
then i dont ever want to hear that "your vote counts" crap ever againQuote:
Originally Posted by GoldenBoy812
Well your vote does count. More so at the local level where you elect Senators and Representatives that make up the electoral college. So when voting for your local and state government, think about what type of people you would want to be president and make sure they have the same mindset as you. That is the best way to make your vote towards the presidency count.Quote:
Originally Posted by SnSstealth
Furthermore in a close race such as this year popular Vote may actually be a factor if McCain can win the undecided states and maybe steal one of Obama's weak states from him. Which isn't that far of a possibility.
:hippy:
On an offnote topic. I finally got pics up. Took me a while but it's worth the look. :D