Remember i said we are going to another great depression?

[BMOGEFan]

the bill did not pass.

we are ****ED like no other.

the USA will soon end.

[mell-0]

link?

[mell-0]

stocks are down 600 points

[BMOGEFan]

no article yet. watch the congressional voting station.

[TakitoEspanoza]

Its On Cnn.com


Scary Stuff

[BMOGEFan]

http://www.msnbc.msn.com/id/26884523/

[berraco]

the bill did not pass.

we are ****ED like no other.

the USA will soon end.

Are you Nostradamus?

[BMOGEFan]

i had a good call for the fall of the financial markets and the collapse of the real estate values.

you just need to read articles on consequences of current events.

[XxNeXuSxX]

The bill would have only delayed an even worse depression. It's over. You only have the federal reserve to blame.

[DCL]

the signs were everywhere. real estate bubble popping. massive foreclosures in big and small cities. car dealerships filled with lots of cars because everyone's too broke to buy new wheels. and the environment isn't changing anytime soon. nobody can get credit anywhere in the near future to spark anything.

[BMOGEFan]

pray to god you have some investment properties.

you'll be raking in rental income for years to come

[DCL]

i've been shorting the stock market. i want it to fall more! come down some more, b!tch.

[BMOGEFan]

thats good, but everyone now is shorting it. maybe its time to dump into commdities.

or better yet get ur cold hard cash out of the savings accounts and brokerage accounts.

[XxNeXuSxX]

I hope you invested in gold...

[DCL]

gold and metals to the moon! sh!t, maybe even soybeans or stupid pork futures. :oldlol:

[BMOGEFan]

good thing the place where i live isn't really affected by the housing bubble or the foreclosure sales.

my property is still holding its value.

if you have money now, you better go stock up on some investment properties.

[wTFaMonkey]

payday!:hammertime:

[dhenk]

I hope you invested in gold...

too bad that the US as a whole did not invest in gold...


good thing the place where i live isn't really affected by the housing bubble or the foreclosure sales.

my property is still holding its value.

if you have money now, you better go stock up on some investment properties.

Really??

I live in europe, and where I sit, it seems as if your property has lost it

[mell-0]

If you are at work right now... look busy.

Now is not a good time to lose your job.

[DCL]

this bailout, was not gonna be enough, but it was necessary. oh man, how many more banks gonna fold in the next 10 days! a total financial banking collapse -- that's gonna kick the rest of us really hard for a very long time.

[BMOGEFan]

[QUOTE=dhenk]too bad that the US as a whole did not invest in gold...



Really??

I live in europe, and where I sit, it seems as if your property has lost it

[mell-0]

So they didn't get the 218 votes?

[BMOGEFan]

lets be prepared for a 3 day drop in the stock market.

i hope you practiced your thievary skills. we are going to need it.

first thing first is to kill the pigs.

[DCL]

at least you're not somewhere in miami, fresno, or las vegas. some of those places shot up ridiculously high during the peak, and now those prices are literally falling off the cliff.

[Legend of Josh]

NeXuS is exactly right - the "BAILOUT" would have only delayed the inevitable. A bandaid doesn't heal a gushing wound. It's better to bite the bullet today, rather than suffer even greater consequences down the road. Think of this financial crisis as a snowball that's been racing down a mountain for quite sometime now. It's gaining speed, momentum and massive volume. The government is trying to clear a path so it can keep going! Why the fu*k would you do that? Let the fu*king thing bust already instead of letting it get even bigger so it can do even more damage.

It's not fu*king rocket science!

:hammerhead:

[BMOGEFan]

http://lib.irismedia.org/sait/guns/handguns/ruger_p89dc.jpg

my weapon of choice. 45 millimeter. will go straight through kevlar

[DCL]

NeXuS is exactly right - the "BAILOUT" would have only delayed the inevitable. A bandaid doesn't heal a gushing wound. It's better to bite the bullet today, rather than suffer even greater consequences down the road. Think of this financial crisis as a snowball that's been racing down a mountain for quite sometime now. It's gaining speed, momentum and massive volume. The government is trying to clear a path so it can keep going! Why the fu*k would you do that? Let the fu*king thing bust already instead of letting it get even bigger so it can do even more damage.

It's not fu*king rocket science!

:hammerhead:


no man, if you let the banks die, then we REALLY enter a depression in rapid mode, much worse than the asian crisis, brazilian crisis, and argentinian crisis ever experienced when all their banks went down. unemployment might be shot up to like 20% with double digit inflationary levels. a "small" country might endure and recover due to its scale (and they might get picked up with the bigger countries injecting money in), but for a huge ass country like the u.s. to enter that state, there's nobody big enough to save its ass. it's almost irrecoverable. just letting this huge ass mothafuka mess "play out" is NOT a viable option. dead banks equate to a dead economy. how the hell does it "play itself" out when all the resources of funds (banks) are dead?

[Legend of Josh]

http://lib.irismedia.org/sait/guns/handguns/ruger_p89dc.jpg

my weapon of choice. 45 millimeter. will go straight through kevlar

Dude, STFU already. You're talking about how you've "purchased" property "back in law school" for more than a quarter of a million dollars and now you're trolling on this message board like a little twatt that lost its way home posting guns and ish like that. Fu*k off.

[Cannonball]

****

[brantonli]

NeXuS is exactly right - the "BAILOUT" would have only delayed the inevitable. A bandaid doesn't heal a gushing wound. It's better to bite the bullet today, rather than suffer even greater consequences down the road. Think of this financial crisis as a snowball that's been racing down a mountain for quite sometime now. It's gaining speed, momentum and massive volume. The government is trying to clear a path so it can keep going! Why the fu*k would you do that? Let the fu*king thing bust already instead of letting it get even bigger so it can do even more damage.

It's not fu*king rocket science!

:hammerhead:


Do you have any idea what you are talking about? The whole point of the 700 billion dollar bailout was to save banks and firms from collapsing and instill confidence into the system. Confidence is the basic thing needed for a healthy economy, now you've got people hoarding their money, afraid to spend it, freezing up the economy. It's not like the bailout was going to inflate the bubble even more, the bubble is already shrinking, especially housing prices and such, the point of the bailout is to stabilise the falling prices and stop people from going bankrupt.

[BMOGEFan]

Dude, STFU already. You're talking about how you've "purchased" property "back in law school" for more than a quarter of a million dollars and now you're trolling on this message board like a little twatt that lost its way home posting guns and ish like that. Fu*k off.

its going to soon end up like this.

property values do drop man. and if i become unemployed, tenants leave, i'm just goinng to be assed out.

knock on wood.

[Dash]

Good. We need to take our lumps now and avoid an all-out crash later...

[Rab]

It looks like it's going to go back to the drawing board, and will probably be back up for vote soon. It may be too late.

[dhenk]

not in arcadia, these 2 million dollar homes just don't go down in value much.

there's always demand for them especially from foreigners.

but the investment property in san diego took a hit. i purchased in while i was in law school for 300,000. now its property worth 175,000. SUCKs.

but i am renting it out for 1350 a month.

Well, uhm, good for you, I guess. But what I meant was, that on a global scale, 2 million dollar are not worth 2 million dollar anymore.

[BMOGEFan]

Well, uhm, good for you, I guess. But what I meant was, that on a global scale, 2 million dollar are not worth 2 million dollar anymore.

then what is 2 million dollar worth?

[dhenk]

Do you have any idea what you are talking about? The whole point of the 700 billion dollar bailout was to save banks and firms from collapsing and instill confidence into the system. Confidence is the basic thing needed for a healthy economy, now you've got people hoarding their money, afraid to spend it, freezing up the economy. It's not like the bailout was going to inflate the bubble even more, the bubble is already shrinking, especially housing prices and such, the point of the bailout is to stabilise the falling prices and stop people from going bankrupt.

BS

The collaps itself destroyed the confidence, and it was caused by those who control the system, through regulation.

Why should anyone trust these guys again when they say they want to "regulate" the system again?

[hito da god]

who was it on this site that predicted a depression by october 08? was it dooms?

[dhenk]

then what is 2 million dollar worth?

Less Euro than 5 years ago, considerably less. And not only euro, which means that anything a US company wants to buy from the rest of the world will cost a lot more...which means it will cost you a lot more. And in reverse, foreign investors will go shopping on the US market.

[Legend of Josh]

All is fu*ked... these next couple months will be tough for everyone to come to terms with.

[BMOGEFan]

Less Euro than 5 years ago, considerably less. And not only euro, which means that anything a US company wants to buy from the rest of the world will cost a lot more...which means it will cost you a lot more. And in reverse, foreign investors will go shopping on the US market.

i know what inflation means idiot.

but i'm not spending money overseas on a home.

[Cannonball]

oh chill out. It's only wal-street that gonna get raped.

[XxNeXuSxX]

Do you have any idea what you are talking about? The whole point of the 700 billion dollar bailout was to save banks and firms from collapsing and instill confidence into the system. Confidence is the basic thing needed for a healthy economy, now you've got people hoarding their money, afraid to spend it, freezing up the economy. It's not like the bailout was going to inflate the bubble even more, the bubble is already shrinking, especially housing prices and such, the point of the bailout is to stabilise the falling prices and stop people from going bankrupt.

You're naive if you think the bailout is going to cause "confidence" in the system. Next year, you'll see inflation rates rise probably another 7% or so and see an increasing amount of people turn away from the dollar. And a collapse of the dollar will be far worse than what the money is going to be used to prevent.

Everyone recognize it as a short term solution (talking about 3 months or so), to a problem that will only worsen the situation in the long run. The economy, as a whole, has to realize bad debt, and liquidate it, it's the only solution on getting the economy on the right track SOONER rather than later. All this is doing is making a recession turn into a depression.

have fun watching the dollar go to sh*t, I'll be investing my money in Gold (oh look, it's up again!)

[DCL]

oh chill out. It's only wal-street that gonna get raped.

banks go down... businesses go south... people lose their homes... business owners stop hiring... your friends and neighbors lose jobs... more businesses get hurt... everyone around you have go broke... businesses shut down and file for bankruptcies..... more banks collapse from bad debt and stop giving out loans... you can't get a loan.... new businesses can't get a loan.... you can't get a job.... you can't buy sh!t since you can't get a loan and you lost your job.... you have no money

you sure wall street is the only ones getting raped? think again.

[brantonli]

You're naive if you think the bailout is going to cause "confidence" in the system. Next year, you'll see inflation rates rise probably another 7% or so and see an increasing amount of people turn away from the dollar. And a collapse of the dollar will be far worse than what the money is going to be used to prevent.

Everyone recognize it as a short term solution (talking about 3 months or so), to a problem that will only worsen the situation in the long run. The economy, as a whole, has to realize bad debt, and liquidate it, it's the only solution on getting the economy on the right track SOONER rather than later. All this is doing is making a recession turn into a depression.

have fun watching the dollar go to sh*t, I'll be investing my money in Gold (oh look, it's up again!)

I will be having fun, because I will be over in Hong Kong, relaxing and watching China go up. I agree that it is a short term solution, think of this, they (you) may have to liquidate the bad debt, but the bailout is to ensure that the system keeps on going until it can be done.

[Cannonball]

banks go down... businesses go south... people lose their homes... business owners stop hiring... your friends and neighbors lose jobs... more businesses get hurt... everyone around you have go broke... businesses shut down and file for bankruptcies..... more banks collapse from bad debt and stop giving out loans... you can't get a loan.... new businesses can't get a loan.... you can't get a job.... you can't buy sh!t since you can't get a loan and you lost your job.... you have no money

you sure wall street is the only ones getting raped? think again.
Yeah like I or my friends/family have enough monies to be banking at the ones that are crashing.

[XxNeXuSxX]

who was it on this site that predicted a depression by october 08? was it dooms?
No, it was the Austrian School of Economics.

[BMOGEFan]

oh chill out. It's only wal-street that gonna get raped.

complete IDIOT. don't post in here again.

[Cannonball]

complete IDIOT. don't post in here again.
posted

[brantonli]

posted

Seriously, do you believe that only Wall street is going to get screwed?

[Cannonball]

Seriously, do you believe that only Wall street is going to get screwed?
i said raped.

obviously it's gonna be a crunch on us little guys but you guys are acting like the sky is falling. Chill the **** out.

[BMOGEFan]

i said raped.

obviously it's gonna be a crunch on us little guys but you guys are acting like the sky is falling. Chill the **** out.

idiot.

i'm ashamed i'm going to be voting for the same party as you.

[dhenk]

i know what inflation means idiot.

but i'm not spending money overseas on a home.

It

[Cannonball]

idiot.

i'm ashamed i'm going to be voting for the same party as you.
lol every one just relax. THIS IS WHAT CAUSES a DEPRESSION. mass panic!

[brantonli]

i said raped.

obviously it's gonna be a crunch on us little guys but you guys are acting like the sky is falling. Chill the **** out.


Humans often don't realise the worse until it has already happened.

[DCL]

Yeah like I or my friends/family have enough monies to be banking at the ones that are crashing.

even if you never touch a bank yourself, the viability of banks affect people all around you. if they are affected, then YOU are ultimately affected. your employer depends on the bank. the customers/clients of your employer's business depend on banks. and those other businesses that run through the transactions depend on banks. if the banks fail, EVERYTHING else stops flowing.

unless you have a pile of deposits in a safe where your income solely relies on an independent allowance from that safe, you're not escaping the effects of the banking collapse of the economy.

a strong economy always starts from a healthy banking system. but once that fails, things will fall apart just like a house of cards. you may think or hope you're not directly impacted, but you are inevitably going to be impacted indirectly. that's just how it works.

[Cannonball]

even if you never touch a bank yourself, the viability of banks affect people all around you. if they are affected, then YOU are ultimately affected. your employer depends on the bank. the customers/clients of your employer's business depend on banks. and those other businesses that run through the transactions depend on banks. if the banks fail, EVERYTHING else stops flowing.

unless you have a pile of deposits in a safe where your income solely relies on an independent allowance from that safe, you're not escaping the effects of the banking collapse of the economy.

a strong economy always starts from a healthy banking system. but once that fails, things will fall apart just like a house of cards. you may think or hope you're not directly impacted, but you are inevitably going to be impacted indirectly. that's just how it works.
well sure, but you are all acting like Imma have to blast you mofos with my ar15 to get my lucky charms.

[DCL]

I will be having fun, because I will be over in Hong Kong, relaxing and watching China go up. I agree that it is a short term solution, think of this, they (you) may have to liquidate the bad debt, but the bailout is to ensure that the system keeps on going until it can be done.

hang seng index will drop over 2,000 tomorrow. the gravity of this mess is global.

[brantonli]

hang seng index will drop over 2,000 tomorrow. the gravity of this mess is global.

Oh.

****.

God, I hope we pull out of this as well as we did with the Asian financial crisis.

[ikoiko]

this is pretty sweet, since i am going to new york in november. maybe by then all your stuff will be practically free! mohahaha

just kidding, it is scary. but i will still come and buy all your stuff for dirt cheap! mohahahaha

[Legend of Josh]

banks go down... businesses go south... people lose their homes... business owners stop hiring... your friends and neighbors lose jobs... more businesses get hurt... everyone around you have go broke... businesses shut down and file for bankruptcies..... more banks collapse from bad debt and stop giving out loans... you can't get a loan.... new businesses can't get a loan.... you can't get a job.... you can't buy sh!t since you can't get a loan and you lost your job.... you have no money

you sure wall street is the only ones getting raped? think again.

Repped... and I don't rep. People need to wake the fu*k up.

[DCL]

this is pretty sweet, since i am going to new york in november. maybe by then all your stuff will be practically free! mohahaha

just kidding, it is scary. but i will still come and buy all your stuff for dirt cheap! mohahahaha

f--k off, you eurodollar-holding assho!e. :D

[Legend of Josh]

lol every one just relax. THIS IS WHAT CAUSES a DEPRESSION. mass panic!

That's like saying I'll just lay in bed and turn over to the other side as my wife fu*ks another man as I pretend it's not happening and try to go to sleep. Wake up dude, this is serious sh*t.

[bagelred]

Look, if John McCain says "the fundamentals of the economy are strong", who am I to argue...he's a WAR HERO, for Christ's Sake....doesn't that mean anything to you? Country first!!!!



McCain/Monkey 2008!!!!!

[Laker4Lyfe]

Look, if John McCain says "the fundamentals of the economy are strong", who am I to argue...he's a WAR HERO, for Christ's Sake....doesn't that mean anything to you? Country first!!!!



McCain/Monkey 2008!!!!!

Yeah he went to Washington last week and saved the day. I don't know why people are worrying.

[MaxFly]

The Dow is down 777 today. That's crazy.

[Legend of Josh]

The Dow is down 777 today. That's crazy.

Are you kidding me? Ummm... hello! haven't you heard? "Not In America!" ... duh.

We're fine. No worries.

:cheers:

:rolleyes:

[kwajo]

It's about time something interesting happened in North America. I'm tired of these overly-sanitized, overly commoditized, lives that everyone has been living for the past several decades. My generation has had things far to easy, it's time to pull ourselves up by our bootstraps and show the world that we're up to the challenge.

[gts]

It's about time something interesting happened in North America. I'm tired of these overly-sanitized, overly commoditized, lives that everyone has been living for the past several decades. My generation has had things far to easy, it's time to pull ourselves up by our bootstraps and show the world that we're up to the challenge.i'm gonna need that recipe for seal flipper pie....

[DCL]

It's about time something interesting happened in North America. I'm tired of these overly-sanitized, overly commoditized, lives that everyone has been living for the past several decades. My generation has had things far to easy, it's time to pull ourselves up by our bootstraps and show the world that we're up to the challenge.

you want us to start living in cardboard boxes or something?

hey, that 50" tv box is mine. don't touch my house.

[kwajo]

i'm gonna need that recipe for seal flipper pie....
If you like seal recipes, try this one:


Tournedos de Phoque a la Bardot

Ingredients
500 grams baby seal tenderloin, well aged and beyond its prime
250 grams Canadian bacon, thinly sliced
125 grams pate de foie gras
Preparation

Cut the seal tenderloin into 3 cm slices. Gird with bacon slices, holding in place with toothpicks. Grill quickly on both sides until red juices appear. Top with pate and serve quickly. This dish is best experienced with healthy jiggers of Screech [rum].

It's moments like these that I'm glad I've trained myself to understand the natural world around me, to know the edible plants of my region, to hunt and fish, build shelter and fire, and could survive indefinitely in the woods if civilization dissolved. Whoopie!

[Killer_Instinct]

If you are at work right now... look busy.

Now is not a good time to lose your job.


They are actually getting ready to lay off a few employees where my mom works in the next 30 days(Progressive Auto Insurance).


I'm moving to Canada.

[bada bing]

If Obama still doesn't win after this....damn.

[emsteez forreal]

I hope you invested in gold...

lol i think the last 5 posts i've seen from you have been concerning gold ..
i think you should take on the role of ..
http://www.qpratools.com/videos/(dvd)-goldfinger-front.jpg

[Hawker]

Look, if John McCain says "the fundamentals of the economy are strong", who am I to argue...he's a WAR HERO, for Christ's Sake....doesn't that mean anything to you? Country first!!!!



McCain/Monkey 2008!!!!!

Obama wont do **** either. Wake up. Ron Paul is needed so bad that it's ridiculous.

Anyways, I'm glad I'll be working in a field where I dont get f*cked.

[Smokee]

God i hate Mccain. All he does is attack and blame Obama for everything. The guy is just extremely vindictive towards everything. Its almost like during the debates he's saying SERENITY NOW SERENITY NOW quietly to himself so he doesn't spazz out when he gets that red faced smirk on his face.

Meanwhile Obama is always on the defensive and always having to come back and try and correct, then counter attack. Its like he never takes the offensive and is waiting for the other guy to. He needs to get meaner, hes way too soft.


In other news Palin is supposedly locked down in some secret Republican bunker being tutored for the debates for 3 days :lol

[Cannonball]

God i hate Mccain. All he does is attack and blame Obama for everything. The guy is just extremely vindictive towards everything. Its almost like during the debates he's saying SERENITY NOW SERENITY NOW quietly to himself so he doesn't spazz out when he gets that red faced smirk on his face.

Meanwhile Obama is always on the defensive and always having to come back and try and correct, then counter attack. Its like he never takes the offensive and is waiting for the other guy to. He needs to get meaner, hes way too soft.


In other news Palin is supposedly locked down in some secret Republican bunker being tutored for the debates for 3 days :lol
Yeah it's called Obama's polices are trash.

[GOBB]

If you are at work right now... look busy.

Now is not a good time to lose your job.

Look busy? :oldlol:

Yeah because if I run a company/business and I'm not making any money rather LOSING it. Your job is safe. Uhhh think again pal. Unforunately I would be lookin into cutting costs which means getting rid of jobs. Sorry you were a hard/dedicated worker but look. I cant afford to keep you. Bye.

All one has to do is look at the state of thier employer. Are things changing? Money being lost? Cutbacks? Etc etc etc, to determine job security. Some jobs/occupations once had job security. Now? Not so.

[Smokee]

Just read this quote from a Republican for why the bailout failed:

"I do believe that the vote could have succeeded," Boehner said in a news conference. "But the speaker had to give a partisan speech ... that poisoned our caucus."


Wow and here i thought there were some partisan agendas written into it or something along those lines. But it failed out of Republican spite over a pre speech? :eek:

[GMAC]

Amazing what happens when you put a monkey in office for 8 years

[BMOGEFan]

Amazing what happens when you put a monkey in office for 8 years

you are an idiot.

read the posts, learn your issues, history, and you'd know that this problem FAR exceeds the "contributions" by bush.

[GMAC]

you are an idiot.

read the posts, learn your issues, history, and you'd know that this problem FAR exceeds the "contributions" by bush.

No, I believe you're the idiot here. If the Bush administration had monitored Wallstreet's financial investment activities and high-risk/high-return strategies in the mortgage industry, this crash could have been avoided. They opted to focus on starting factitious wars halfway across the globe instead of fixing presiding problems that exist in THIS country.

[BMOGEFan]

No, I believe you're the idiot here. If the Bush administration had monitored Wallstreet's financial investment activities and high-risk/high-return strategies in the mortgage industry, this crash could have been avoided. They opted to focus on starting factitious wars halfway across the globe instead of fixing presiding problems that exist in THIS country.

you do know this problem stemmed from the CLINTON era.

[answer323]

the economic system needs to fail, our lives are run by it.

it seems like without figuring out how to spend your excess money, people don't know what to do with themselves.

if you get fired from your job, that will just give you more time to find out what is truly important to you all. destroy the american dream and let each and every person discover their own dream. everybody's lives have become so mechanical.

Wake Up.
Drink Coffee.
Go to work.
Come home.
Eat dinner.
Go to bed.
Repeat.

this could be the best thing that has ever happened to the country, maybe people can start focusing on themselves and themselves alone.

"it is only after you've lost everything, that you're free to do anything."

[DCL]

i enjoy blaming bush as much as the next guy, but this freaking mess.... i don't think one man is single-handedly responsible for. he f--ked up a lot of other sh!t though, don't get me wrong, but this ugly historical mess.... there are just way too many fingers to point at.

can start with the lawmakers for never knowing what the f--k was going on. most of these guys were pretty clueless and still are. they are lawmakers, not bank risk managers. they spend their days in washington, not in wall street trading rooms. with derivatives and financial engineering exploding in the past decade, all these things have gotten way too sophisticated, complex, and risky for them to understand.

then you got the banks themselves, who were so greedy for the short-term profit, hiring 27year old fancy phd quant hot shots, straight from tier 1 schools, with absolutely no experience nor memory of even something like the savings and loans crisis. but they had all their fancy derivative math and quantitative statistics that formed their flawed financial models. the models might had been stable money makers under the most benevolent economic circumstances, but if things ever went south, these things exploded like land mines. the real risk was infinitely greater than whatever reward they were focusing on, but ALL the banks got sucked into this game because it was competitive and neat, and they thought they had to be in it to be at the edge. the result is a series of massive institutional banking failures. banks that have survived even since the great depression era have suddenly been slaughtered within almost a blink of an eye once they got blown out.

then you got the american folks who continued to jack up their credit cards and buy stuff they never needed or couldn't afford. i don't know why we're such a materialistic culture, but americans save the least. but i don't place as much blame to the public because the public is not that smart. if the banks never keep on flooding their mail boxes with pre-qualified credits nonstop nor huge home loans they were never qualified for, the public might have been forced to save conservatively.

then there's the whole real estate speculation scam. prices elevated waaaay too high and way too fast. mortgage fraud was a common game during the real estate boom, and many thought they could get away with it because they thought prices kept on going up. appraisals were outlandishly generous, and home loans based on low credit were too easy to be obtained. some even didn't require income verification for a 95% to near 100% LTV mortgages. when real estate collapse, all these people were wiped out like overnight. then the banks got wiped out along with them since they were the stupid ones lending the money.

there's also partial blame on the central bank for doing an inept job. they fostered an environment that overheated the real estate sector and nationwide wreckless lending. monetary policies were also too relaxed. and interest rates probably should had been more fierce to prevent people from thinking, "aww, rates are so low. all i have to worry about is principal. so i can probably afford to that out that loan." that's wrong. most were never able to afford it.

there's oversight on so many levels. the characteristics are very similar to the great depression. back then, people spent wrecklessly after experiencing the roaring 20's. banks were way too lenient on their lending practices. and the government had no f--king clue what the hell was going on. we have all those same elements today. however, with all these "great depression" comparisons, i don't think we're all going to be sleeping in cardboard boxes or lining up for soup. back then, when the stock market collapsed, many people lose their entire savings literally overnight. they had buying power of 3:1, and if market dropped 33%, that's practically 100% captial loss. banks shut down overnight as well. that's the scariest comparison to today because banks are collapsing like a mothacuka. credit is the blood of all economies, and when banks go, credit disappears. and when credit vanished, nothing in the economy can operate. all businesses eventually suffocate. it seems like that's happening now. i wish i knew less than i know and can just be innocent about it because it's pretty scary what's realistically possible in this spectacular busted economy.

[brantonli]

No, I believe you're the idiot here. If the Bush administration had monitored Wallstreet's financial investment activities and high-risk/high-return strategies in the mortgage industry, this crash could have been avoided. They opted to focus on starting factitious wars halfway across the globe instead of fixing presiding problems that exist in THIS country.

You realise that had the government done this, companies on Wall Street would be complaining and complaining and complaining to no end about over-regulation. That's the risk of havnig a very deregulated system, eventually something goes wrong that nobody can control.

[mattreis62]

Everyone relax and read this. You'll feel much better:

http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html

[DCL]

Everyone relax and read this. You'll feel much better:

http://www.cnn.com/2008/POLITICS/09/29/miron.bailout/index.html

his reasons are so weak. especially this empty ass statement:

"Talk of Armageddon, however, is ridiculous scare-mongering. If financial institutions cannot make productive loans, a profit opportunity exists for someone else. This might not happen instantly, but it will happen."

so explain in detail where this profit opportunity will suddenly arise for somebody. if sound investment plans and worthy projects cannot get funding, which are productive loans, how are profit opportunities going to exist for someone else? so he admits productive loans will not be achieved, but he believes banks can somehow pull some other loans out of their asses? that makes no sense.

credit resources are already getting unbelievably dried up. if the best and most qualified projects get rejected for credit, how's that opportunity going to pass on to someone else? the answer is it isn't because the credit never even existed for anyone in the first place. and all this "that might not happen instantly, but it will happen" statement is so empty. he says it'll all be okay but gave absolutely no single reason why he believes that.

well, you posted that link. if you feel qualified and knowledgeable enough to explain how this invisible credit will magically happen when all the banks go bankrupt, go ahead, man.

just don't tell me, "hey, it will be okay. don't worry!" tell me how and why and where credits will happen when there aren't even any providers of credit?!? that author provided zero analysis to that substantial market crisis question.

[mattreis62]

He did kind of gloss over that point didn't he, lol. I mostly posted that link because I thought it was a good analysis of why the bailout was a bad idea.

Really, I don't think credit drying up would be a bad thing at all. Isn't credit supposed to be hard to get? Shouldn't it take some work to convince a financial institution to give you $500,000 dollars for a home? A friend of mine owns his own business and works his ass off. He saves most of his money and rarely makes any unnecessary purchases. He's got enough money to put 20% down on a home, and his credit score is in the high 700s. There will always be some institution, somewhere, that will give someone like him a loan. He sure seems like a safer bet than lending to another bank right about now.

Eventually the good (or at least the not as bad) companies will buy up the bad ones and people will realize that the sky isn't falling. It's likely that we'll be in a recession for a little while, but I really don't think a depression is coming. Our growth has been fueled by unrealistic expectations and easy credit for way too long. Hopefully we'll learn from our mistakes and go back to sound lending policies and fiscal responsibility.

[DCL]

well, that's exactly why we need to keep some banking structure that will provide credit accessibility. otherwise, if the system goes totally bankrupt, there will be no credit, not even to those with high solid 700 FICOs. if we look at our own economic history from the 30s, and also those from latin america during their financial crisis, or the asian economies when their banks tumbled, even worthy businesses had trouble obtaining credit.

the climate of the economy is already known, and a major breakage is increasingly inevitable, but we can't just cut the cords and pull all the plugs. the consequences would be too drastic. credit will dry up regardless, but there needs to be a smoothed-out process.

i'll try to simplify a little bit. let's say you're in college, and you're still receiving support from the folks. you have rent to pay, phone bills, electric, cable, internet, whatever. you might be working, but your savings is limited because you're still in school. but let's say one weekend, your old man suddenly tells you, "son, you're on your own now. starting monday morning." to put it bluntly, you're gonna be f--ked a lot harder than if he had given you a much longer, maybe like a 6 month timeline, or whatever. at least give yourself some breathing room to make arrangements, cancel bills, etc.

well, on a much larger scale, that's what the businesses need at this point. we can't just cut off everything and say "hey, let the market play out." there's absolutely nothing to look forward to with that approach. this isn't the nba. you can't just tank the season this year and then look forward to the draft in the summer and expect to be saved. right now, current businesses might still have contracts in inventories. they probably won't reach profits, but at least give them some time to try to break even or reduce losses and costs. if the consensus is "we're all going to hell anyway," there can still be different paths. a gradual smoothed-out process would make a lot more sense than just cutting all cords at once, but that's exactly what would happen if we just let all these banks collapse in an instance. this kinda forced collective bankruptcy is not good for any economy of any size. it's not healthy nor going to help anything. during a historical crisis like this, we can't afford that occurrence.

[mattreis62]

Well, isn't that what the governement is basically doing right now? They're brokering deals between banks to keep them afloat and providing capital to companies like AIG to give them time to complete orderly bankruptcy proceedings.

The promise of a bailout is just compounding the problem. Companies are holding off on selling assets or merging in the hope that the government will come in and overpay them for their bad mortgages. The government needs to just come out and say, "Look, there isn't going to be any huge bailout. We're going to make sure there isn't a systemic collapse but you're on your own after that."

[ikoiko]

the economic system needs to fail, our lives are run by it.

it seems like without figuring out how to spend your excess money, people don't know what to do with themselves.

if you get fired from your job, that will just give you more time to find out what is truly important to you all. destroy the american dream and let each and every person discover their own dream. everybody's lives have become so mechanical.

Wake Up.
Drink Coffee.
Go to work.
Come home.
Eat dinner.
Go to bed.
Repeat.

this could be the best thing that has ever happened to the country, maybe people can start focusing on themselves and themselves alone.

"it is only after you've lost everything, that you're free to do anything."

i woulda repped this post. but the second to last paragraph, wtf?? people you should only focus on themselves? isn't that the exact thing that should be avoided?

[ShowTime LA]

The bailout Bill passes the house

[mell-0]

The bailout Bill passes the house

and stocks fell 157 points?

[Legend of Josh]

and stocks fell 157 points?

Duh... what'd you expect? The public isn't buying into this BS bill.

[mell-0]

Duh... what'd you expect? The public isn't buying into this BS bill.

No... I think it has something to do with foreign investors.

[JohnnyWall]

Only 7 more months until the spaceships arrive.

[-p.tiddy-]

lol


this thread is almost 4 years old, people are STILL saying the same nonsense

and we would have seen threads like this 8 years ago...12 years ago...50 years ago


when is America not headed for doom?...the only people that need to wake up are the fear mongers that spread this garbage

[RaininTwos]

lol


this thread is almost 4 years old, people are STILL saying the same nonsense

and we would have seen threads like this 8 years ago...12 years ago...50 years ago


when is America not headed for doom?...the only people that need to wake up are the fear mongers that spread this garbage

Huh? Shit was horrible back then, the worry was warranted.

[fiddy]

lol


this thread is almost 4 years old, people are STILL saying the same nonsense

and we would have seen threads like this 8 years ago...12 years ago...50 years ago


when is America not headed for doom?...the only people that need to wake up are the fear mongers that spread this garbage

WW3 coming this summer/fall :D

[BGriffin's Dad]

lol


this thread is almost 4 years old, people are STILL saying the same nonsense

and we would have seen threads like this 8 years ago...12 years ago...50 years ago


when is America not headed for doom?...the only people that need to wake up are the fear mongers that spread this garbage

but they love fear

[-p.tiddy-]

I wonder if people will ever admitt that the bailout worked 100% and prevented a collapse

for some reason people hate that it was a success, god forbid we did something right, then people wouldn't have anything the bitch and cry about






"but but, the bailout just made it worse...just wait, you'll see...20 years from now" :facepalm

[DukeDelonte13]

I wonder if people will ever admitt that the bailout worked 100% and prevented a collapse

for some reason people hate that it was a success, god forbid we did something right, then people wouldn't have anything the bitch and cry about






"but but, the bailout just made it worse...just wait, you'll see...20 years from now" :facepalm


rabble rabble! government spending! rabble rabble!