Rockcrawler1832
Well-Known Member
- Joined
- Jan 1, 2008
- Location
- Charlotte, NC
Anyone watch it? What did you guys think?
Presidential Address
- Thread starter Rockcrawler1832
- Start date
gmcjimmy88
Active Member
- Joined
- May 15, 2005
- Location
- Fayetteville
From the sound of it the gov. will buy faulty loans and hold them for payment? It is a lot of money but then again if they don't spend it here they wil just go buy a few toilet seats few the shuttle for the same amount of money. LOL
SHINTON
Well-Known Member
- Joined
- Mar 17, 2005
- Location
- Triad area of NC
[We did manage to keep another recent discussion from going overboard / political...this too "could" get moved to Garage if needed, just wanted to throw that out there upfront]
For those that don't know it, the contributing members have access to the Garage and in there "anything" goes! We have active discussions about politics, religon etc.
Support the bd, thx! (Thx to the starter of this thread, noticed he had the diamond by his name!)
For those that don't know it, the contributing members have access to the Garage and in there "anything" goes! We have active discussions about politics, religon etc.
Support the bd, thx! (Thx to the starter of this thread, noticed he had the diamond by his name!)
- Joined
- Apr 16, 2005
- Location
- Sharon, SC
I am one of the very few who has agreed with GWB almost unilaterally until this point.
I do not fear the failure and hate the socialist bailout.
The end is nigh for the heyday of America....
I do not fear the failure and hate the socialist bailout.
The end is nigh for the heyday of America....
Reid
Hasnt Seen Dirt in Years
- Joined
- Dec 30, 2005
- Location
- Winston Salem
x2.
- Joined
- Apr 18, 2005
- Location
- Greensboro, NC
I don't know about the end of the hay day but I have been telling my wife for several months (she's a financial broker and knows more than me about the economy)that we haven't seen nothing yet. I'm looking like the guru I am 
SHINTON
Well-Known Member
- Joined
- Mar 17, 2005
- Location
- Triad area of NC
I suspect we could be in for a long recession (neg GPD for 2 qtrs or more), perhaps even depression (decline of GPD by 10%)!
Sort of like the "Perfect Storm" we have rising prices and stagnant growth (stagflation) and I would not doubt a bit if this will take several years to clear up.
Japan had a really LONG depression period starting in the mid to late 80s, 10+ years if I remember correctly and they are still 'recovering' from it? Remember back when everyone thought we all needed to learn Japanese, etc in school / they were taking over the world financially?
---
So "what if" this is true, what are the ramifications of a long recession or depression. In looking back... jobs were hard to come by, prices for daily/living items such as food grew out of control.
With the credit crisis, some of the things I would expect to start hearing about:
Credit card companies start CLOSING accounts! This will really hurt consumer spending since MANY folks having been using them as a crutch. [I think this will be the biggest blow yet / people may have to learn to live on what they MAKE!]
Foreclosures...honestly I think gov't is gonna slow this down quite a bit. People will be expected to "pay something" / but the actual threat will be greatly reduced.
Jobs...make sure yours is secure..but PLAN like it isn't / get those credit cards PAID off, prepare for the worst. Bankruptcy laws are MUCH tougher now to get relief...
Investments...we might see some shrinkage in the overall US market. I am seriously thinking of changing my future purchases to be a bit more international in flavor (US economy may go south but Asian market may go thru the roof, or EURO or...)
Sort of like the "Perfect Storm" we have rising prices and stagnant growth (stagflation) and I would not doubt a bit if this will take several years to clear up.
Japan had a really LONG depression period starting in the mid to late 80s, 10+ years if I remember correctly and they are still 'recovering' from it? Remember back when everyone thought we all needed to learn Japanese, etc in school / they were taking over the world financially?
---
So "what if" this is true, what are the ramifications of a long recession or depression. In looking back... jobs were hard to come by, prices for daily/living items such as food grew out of control.
With the credit crisis, some of the things I would expect to start hearing about:
Credit card companies start CLOSING accounts! This will really hurt consumer spending since MANY folks having been using them as a crutch. [I think this will be the biggest blow yet / people may have to learn to live on what they MAKE!]
Foreclosures...honestly I think gov't is gonna slow this down quite a bit. People will be expected to "pay something" / but the actual threat will be greatly reduced.
Jobs...make sure yours is secure..but PLAN like it isn't / get those credit cards PAID off, prepare for the worst. Bankruptcy laws are MUCH tougher now to get relief...
Investments...we might see some shrinkage in the overall US market. I am seriously thinking of changing my future purchases to be a bit more international in flavor (US economy may go south but Asian market may go thru the roof, or EURO or...)