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Old 06-06-2008, 10:22 PM
 
655 posts, read 698,614 times
Reputation: 240

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Reading multiple reports from numerous sources.... How will Alaska do during this great depression we are heading into to?

Oil to $200 by year's end
Unleaded $9 per gallon by year's end.
Dollar to loose another 10-15%
Unemployment increasing to double digits
Housing market continues to fail
Big banks fail
interest rate cuts by the feds do nothing for stimulous
energy costs doubling
air travel reduced by 60% nation wide
Airlines cgoing under daily
Food costs up 40%
Many areas of the country have food shortages
Record year for large wild fires
Droughts up and down the eastern coast
Record year for tornadoes and other natural disasters

The list goes on and on, but I'll stop here.

Will Alaska see another bust as in the 80's or due to oil resources will it thrive?
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Old 06-06-2008, 11:44 PM
 
395 posts, read 1,489,611 times
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In the end, we will survive , whether it is Alaska or Ca. or Nevada. I remember the 30s when it was really bad. Plenty of banks failed then. Europe have high fuel prices for years. Fire will come every year but people rebuild. Look, what happen around the world. Earthquake in China and Peru, Plenty of tornados in the mid west and on and on. History is loaded w/these disasters. Just today, L.A Ca. announce voluntary cutback in water usage. Yet, the world still rotates.
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Old 06-06-2008, 11:53 PM
 
Location: Not far from Fairbanks, AK
16,176 posts, read 27,459,755 times
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Quote:
Originally Posted by RAMFEB31 View Post
In the end, we will survive , whether it is Alaska or Ca. or Nevada. I remember the 30s when it was really bad. Plenty of banks failed then. Europe have high fuel prices for years. Fire will come every year but people rebuild. Look, what happen around the world. Earthquake in China and Peru, Plenty of tornados in the mid west and on and on. History is loaded w/these disasters. Just today, L.A Ca. announce voluntary cutback in water usage. Yet, the world still rotates.
Agree with you. Alaska has a lot of experience in this sort of roller-coster. After all, it's a boom and bust economy up here.
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Old 06-07-2008, 01:39 AM
 
Location: Fairbanks Alaska
1,677 posts, read 5,756,144 times
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Most of what is posted about can be traced back to the cost of energy. The $ going to keep warm or travel for work sucks all the spare $ up from all other corners of ones budget, so yes these things could happen. The real question is what is the true reason the cost of energy has risen so much so quickly? Have we actually had a sharp decrease in oil supplies, have China and India actually started buying that much more oil? Are they paying the same price we are less taxes? Or could it be due to market speculators running up the price of oil and making huge profits without actually taking delivery of said product, How about the slow reduction in refining capacity in the US, the oil companies have been doing this for years to bolster the price of fuel.

While on the subject why is the cost of diesel fuel more than gasoline? Historically this has never happened before mainly because diesel is easier and cheaper to refine. Could this be due to our new EPA clean diesel regulations? Why is diesel taxed higher than gasoline on the federal level.

Yes Alaska can survive this as with other boom or bust cycles, but I think it is less prepared and has less of the pioneer knowledge and spirit that was here when I was young. Energy costs are especially going to hurt us here. The number of households switching to wood fuel is huge in the interior, last year the smoke and ice fog from them during new years near North Pole, made it feel like I was in a forest fire. There are lots of families that will have to either move out or discover new ways of living, none very luxurious.

Last edited by Arcticthaw; 06-07-2008 at 01:42 AM.. Reason: spelling errors.
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Old 06-07-2008, 01:39 AM
 
Location: Fairbanks
331 posts, read 499,936 times
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Hope all the wimps leave.
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Old 06-07-2008, 01:52 AM
 
Location: Fairbanks Alaska
1,677 posts, read 5,756,144 times
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Quote:
Originally Posted by mitgreb View Post
Hope all the wimps leave.
I really don't think it is a case if the wimps leave....

Maybe you should ask your self this question. If I no one in my family was employed tomorrow and the out look was indefinite how long could you last on your savings till you were broke? Oh yea, no credit cards as yours was one of the failed banks mentioned above. Just cash on hand, hopefully you were able to get your cash before your bank closed its doors.

Alaska had several banks fail during the 80's. After the TAPS agreement ended in 1985, there was no oil work up north the following several years, one of the reasons the economy tanked. I didn't work out of the trade for over 18 months, and we "survived" with some prior planning and other good fortunes. I saw several home in the area where the owners just left the keys on the counter and walked away.

I am not preaching gloom and doom, I have seen the news media talk us into a recession just like they are trying to convince everyone that $9 a gallon gas should be normal. Well we can do the opposite also.

Even the strongest of families will feel the pressure this next winter. Especially if you live in Fairbanks or any of the bush towns or villages.
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Old 06-07-2008, 01:56 PM
 
11,836 posts, read 24,979,732 times
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Quote:
Originally Posted by Arcticthaw View Post
, I have seen the news media talk us into a recession just like they are trying to convince everyone that $9 a gallon gas should be normal. Well we can do the opposite also.
There will be riots down here should gas go that high.
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Old 06-07-2008, 02:24 PM
 
Location: Chambers County
1,133 posts, read 1,733,134 times
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Quote:
Originally Posted by travelmate38 View Post
Reading multiple reports from numerous sources.... How will Alaska do during this great depression we are heading into to?

Oil to $200 by year's end COULD BE AROUND $100, PEAK IS PREDICTED JULY 4TH AT $150
Unleaded $9 per gallon by year's end. $150 = ~ $5.00, NOT $9.00.
Dollar to loose another 10-15% COULD NOW INCREASE ACCORDING TO MANY
Unemployment increasing to double digits NEVER HEARD THAT
Housing market continues to fail BUBBLE IS CORRECTING, DAY BY DAY, SOME MARKETS ARE APPRECIATING (go to money.com and see!)
Big banks fail ALMOST NONE WILL, SOMETHING LIKE 0.1% IS IN TROUBLE
interest rate cuts by the feds do nothing for stimulous NEVER, EVER HAVE CUTS HAD NO IMPACT BEFORE
energy costs doubling SOME YES, OTHERS, NO.
air travel reduced by 60% nation wide I AM HEARING 10-15%
Airlines cgoing under daily A FEW MERGERS, SOME ROUTE REDUCTIONS, BUT NO MASS COLLAPSE
Food costs up 40% SOME FOODS, BUT BY NO MEANS EVERYTHING
Many areas of the country have food shortages NO ONES GOING HUNGRY, MOST PEOPLE NEED TO DIET!
Record year for large wild fires WHAT CONNECTION DOES THIS WILD PREDICTION HAVE TO OIL PRICES???
Droughts up and down the eastern coast DITTO ABOVE
Record year for tornadoes and other natural disasters DITTO ABOVE!
Hysteria is counterproductive. How many times times have dire "doomsday" predictions failed? In MANY ways, the economy is self correcting. If prices go up way too far, consumption will go down. People are already conserving and buying smaller cars, banks have already made huge changes to much, much safer lending practices...relax, it's going to be OK, really!
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Old 06-07-2008, 02:38 PM
 
Location: Over the Rainbow...
5,963 posts, read 10,499,923 times
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Default Here also I would think...

Quote:
Originally Posted by Barkingowl View Post
There will be riots down here should gas go that high.
May very well be in Alaska also.
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Old 06-07-2008, 03:26 PM
 
457 posts, read 874,216 times
Reputation: 207
Quote:
Originally Posted by RAMFEB31 View Post
In the end, we will survive , whether it is Alaska or Ca. or Nevada. I remember the 30s when it was really bad. Plenty of banks failed then. Europe have high fuel prices for years. Fire will come every year but people rebuild. Look, what happen around the world. Earthquake in China and Peru, Plenty of tornados in the mid west and on and on. History is loaded w/these disasters. Just today, L.A Ca. announce voluntary cutback in water usage. Yet, the world still rotates.


I think its different this time Ram. The fundamentals are so off the charts. The dollar slowly losing reserve currency statis so far in the world, and can really unhinge when OPEC goes completely off. If China raises there currency the $ is toast, and the US economy. This is epic proportions in world $ hedgonomy . $200 crude is gonna make 1929 look like a 2 day snowstorm compared to the outlawry that is rampant in the lower 48 about to be released. The potential for bad is at 50%-- isnt that enough to wake up the sheep? Thats right the tv is th best propaganda machine ever invented.


De Nile isnt a river in Egypt .
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