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It is good that things are looking up for you. Too bad everyone is not in the same boat. We know of 2 families who have just recently lost their homes. It seems as if people fall below a certain level it is really hard for them to turn it around.
Yeah, that is sort of the experience most Titanic type mis-adventures have. Might not really notice what is going on until the water reaches your deck and your own shoes start getting wet.
Pretty late in the game to figure things out then.
Pretty hard to run through the rising water.
Quote:
I don't think they are better, just different. The feeling of panic is subsided for now, but by transferring the problem from the private sector to the public sector we have put ourselves in danger of a monetary crisis.
We have only been able to get away with our deficit spending because of our reserve currency status. We now have put that in jeopardy.
A+
Should have let the bankers die.
For what it is worth, these is most always time to experience regret.
What is funny is that scaring people to be afraid of finance and government securities increases the cost of borrowing for the federal government. This won't affect 30 year old upper middle class professionals like me, but it will reduce the benefits of certain CB enthusiast already retired OP's (more payments to interest with less demand, less to benefits to Medicare and SS).
If people want to spend all day, every day, of their retirement fearfully reducing their own benefits...I think it's about the damn funniest thing I've ever seen. Personally I know I will have better things to do in my golden years then make myself miserable.
The economy isn't sliding like it was in late 2008 and early 2009
And this is part of what I look at as better.
A couple years ago nobody knew how bad things would get as unemployment was going up, profits were down, the U.S. economy was contracting, stock market crashing, etc. we were in a downward slide. I'd definitely consider the current state of GDP growing, company profits up, stock market up, consumer spending up etc. as a better place to be.
So would i. Even in the most mild recessions it has taken years for the betterment to work its way thru to un-employment getting better.
I think we are a far cry from those dark days of 2008
A couple years ago nobody knew how bad things would get as unemployment was going up, profits were down, the U.S. economy was contracting, stock market crashing, etc. we were in a downward slide. I'd definitely consider the current state of GDP growing, company profits up, stock market up, consumer spending up etc. as a better place to be.
The problem with GDP is I read the other day it needs to be over 2.5% to really have any growth and have a positive on the economy. So basically anything around 2.5% keeps us stable...anything below is not great. We really need 3% or more to have any substantial growth in our economy.
I don't see things as much better as the pace of layoffs in late 2008 and 2009couldn't stay as high as it did. Even if we stay on the pace we are at right now, things will pretty much be the same.
even zero indicates we are starting to put this debacle behind us. considering we almost saw a total collapse of life as we know it the fact we are moving in the right direction score in my book
Ill tell you a little story about something we finally realized about alot of things:
marilyn and i have been gym rats for over a decade.we would go 7 days a week and pushed and pushed ourselves. the last 5 years or so we stopped seeing gains no matter how hard we pushed,
with both of us coming up on 60 we realized alot of our gains are measured in what we arent loosing. we look at others our age and they are no where in the shape we are. soooooo the fact that we arent loosing our muscle tone or cardio ability is really how our gains are measured.
im mentioning it because thats where our economy stands right now. most of the strides have been not to loose more or slide backwards . sometimes gains are measured in what your not loosing
The problem with GDP is I read the other day it needs to be over 2.5% to really have any growth and have a positive on the economy. So basically anything around 2.5% keeps us stable
True, but growing enough to be stable is certainly much better than being in the negative like in 2009, yes?
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,774,755 times
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Quote:
Originally Posted by Tightwad
"Selling government debt is a gigantic confidence game. For decades, investors all over the globe have gobbled up massive amounts of U.S. debt at incredibly low interest rates because they believed that it was a certainly that they would be paid back and be able to make a little bit of profit on top of it. Unfortunately, things have changed. Confidence is U.S. Treasuries is dying, and if confidence in U.S. government debt completely collapses at some point we could literally be looking at financial Armageddon"
And I wonder if this statement really is true...... "Unfortunately, Americans have become so dumbed-down that they don't even realize that their leaders are incompetent. In fact, as sad as it is to say, most Americans you will meet on the street probably cannot even tell you what U.S. Treasuries are."
Americans might be "dumbed down" but we are certainly not as dumb as the Chinese who continue to buy the worthless paper actually thinking they are going to get paid back!
"Selling government debt is a gigantic confidence game. For decades, investors all over the globe have gobbled up massive amounts of U.S. debt at incredibly low interest rates because they believed that it was a certainly that they would be paid back and be able to make a little bit of profit on top of it. Unfortunately, things have changed. Confidence is U.S. Treasuries is dying, and if confidence in U.S. government debt completely collapses at some point we could literally be looking at financial Armageddon"
And I wonder if this statement really is true...... "Unfortunately, Americans have become so dumbed-down that they don't even realize that their leaders are incompetent. In fact, as sad as it is to say, most Americans you will meet on the street probably cannot even tell you what U.S. Treasuries are."
Aks the average American if he/she knows what a US Treasury note is?
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