Las Vegas is doomed. (hotel, job openings, salaries)
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At the rate we're handing out trillions of $$ in bailouts, we WILL be living in Zimbabwe next year. These bailouts represent money we do not have. They are debt obligations. The Fed is dangerously close to a point where printing money is the only way they will be able to continue propping up the system. Ben Bernanke has openly stated that as a last resort when fighting deflation the Fed can make "helicopter drops of money" and try to inflate our way out of the mess.
Printing money has never worked. Weimar Germany tried it in the 1920s and failed. Zimbabwe tried it in the last couple of years and failed.
Pray we're not next.
And yet, people do live in Zimbabwe. Maybe it is in the way you present your points. People KNOW the economy is possibly headed for disaster. You cannot go anywhere, read anything, listen to anything without hearing about it. Maybe they don't get into the stats, but they know it is not good and they should be doing what they can to protect themselves.
That said, you did make your point. Maybe we need more people that have your foresight in the lead. Or you can always head over to the politics forum and pass on this info. They eat it up over there. That's where I go when I need to get my fill of gloom and doom.
There are serious issues affecting out state. People need to be prepared. I love my house but I'm starting to think when I get laid off, I might have to look for work in another state.
People will adapt to their own situations. I am from the Bay Area, CA.. and I have family and friends there that depend on tech companies. Even with the diversified economy in Silicon Valley, there is still a lot of people that are employed by these tech companies and is a huge part of the economy there. My cousin use to work at SUN Micro, but they had to let her go, now she works for a security company working graveyard. My former coworker worked at Seagate for 18 years and was laid off recently, but got a job as a truck driver delivering produce. The list goes on.. sometimes our material things are not the most important thing we should worry about, but maybe more people will learn to live within their means. Your not laid off yet, so just keep your hopes up and maybe you wont be let go. If you do, then maybe going to another state might workout or switch to a different line of work.
That is the inevitable outcome of what happens when a government starts printing money out of thin air. That is what the United States Treasury started doing as of today to fund the new bailouts they just announced.
You do the math.
The point I'm trying to make (I don't care whether it annoys people) -- is that we are facing a crisis without precedent. What is occurring now in financial markets has never happened before. This is historical, this will be the stuff they will devote entire libraries too. People must get it out of their head that this is somehow just another "downturn" or "recession". It is not. It is a complete and total upheaval of the modern financial order, and quite possibly, the harbinger of the end of the United States as a world power.
Think I'm exaggerating?
Well Martin Weiss, a respected financial columnist doesn't. Here's what he said yesterday:
"It pains me deeply to announce that, despite the massive government rescue, yesterday’s collapse of Citigroup could ultimately lead to a shutdown of the global banking system."
So to those saying I'm a "doom and gloomer", I say to you: Americans have become so ungodly zombified that when real and genuine danger stares them straight in the face they just yawn and take a nap and say things like "oh, it will get better soon I'm sure."
No it won't. It's going to get much much worse -- and soon. Folks had better starting paying attention and not just tuning the "bad news" out, because their futures are going to depend on it. The year 2009 is going to be among the roughest we've ever faced (not just Las Vegas, but America).
The point I'm trying to make (I don't care whether it annoys people) -- is that we are facing a crisis without precedent. What is occurring now in financial markets has never happened before. This is historical, this will be the stuff they will devote entire libraries too. People must get it out of their head that this is somehow just another "downturn" or "recession". It is not. It is a complete and total upheaval of the modern financial order, and quite possibly, the harbinger of the end of the United States as a world power.
Think I'm exaggerating?
Well Martin Weiss, a respected financial columnist doesn't. Here's what he said yesterday:
"It pains me deeply to announce that, despite the massive government rescue, yesterday’s collapse of Citigroup could ultimately lead to a shutdown of the global banking system."
So to those saying I'm a "doom and gloomer", I say to you: Americans have become so ungodly zombified that when real and genuine danger stares them straight in the face they just yawn and take a nap and say things like "oh, it will get better soon I'm sure."
No it won't. It's going to get much much worse -- and soon. Folks had better starting paying attention and not just tuning the "bad news" out, because their futures are going to depend on it. The year 2009 is going to be among the roughest we've ever faced (not just Las Vegas, but America).
Well, like I said, you probably wouldn't annoy people in the right forum.
Never said you were exaggerating.
Whether you are right or wrong-you are still a gloom and doomer.
I don't think most Americans are "zombified", I just think that instead of "taking naps" they are living their lives. What do you expect them to do? Run? Hide? Move to a different country? What are you doing? Are you lobbying in DC to change things and wake up the sleepy politicians? Are you speaking at engagements around the US making those "zombies" aware of your predictions?
I think those that work are still working. Those that take care of their homes are doing that. Those that are losing them are stuggling to find ways to make ends meet. (and I know a few). They are not giving up.
You have given many examples of what can happen or will happen. Have you given any hope? Any solutions? Or are you just creating a panic-type scenario with no hope at all? And if it is out of the control of the average person, what is the point of all the above. Citing facts and predictions doesn't change anything.
so where shall we go almighty know it all? it is terrible everywhere! and kudos to kimba you hit it on the nose, he is a gloom and doomer... you have no idea how good you have it here!
Well, like I said, you probably wouldn't annoy people in the right forum.
Never said you were exaggerating.
Whether you are right or wrong-you are still a gloom and doomer.
I don't think most Americans are "zombified", I just think that instead of "taking naps" they are living their lives. What do you expect them to do? Run? Hide? Move to a different country? What are you doing? Are you lobbying in DC to change things and wake up the sleepy politicians? Are you speaking at engagements around the US making those "zombies" aware of your predictions?
I think those that work are still working. Those that take care of their homes are doing that. Those that are losing them are stuggling to find ways to make ends meet. (and I know a few). They are not giving up.
You have given many examples of what can happen or will happen. Have you given any hope? Any solutions? Or are you just creating a panic-type scenario with no hope at all? And if it is out of the control of the average person, what is the point of all the above. Citing facts and predictions doesn't change anything.
I started reading predictions about this economic meltdown a few years ago at the peak of the housing bubble. I'm not normally a doom and gloom kind of person but I do believe this is historic, life changing, and really bad. This isn't a normal economic cycle, our country might never be the same after this.
Just looking at the boards here on city-data, including the worst hit areas such as Michigan, I have learned that there is something very deep rooted in human psychology to believe that everything is going to turn out just fine, People get very defensive when you say otherwise, I trust the negative economists I read because they saw this coming years in advance. My favorite economist, Doug Noland, was warning about this way back in 2001! Most of those who minimize what's going on now are the same ones who would have jumped all over anyone who would have correctly predicted the events we have seen over the past year.
Well, like I said, you probably wouldn't annoy people in the right forum.
Never said you were exaggerating.
Whether you are right or wrong-you are still a gloom and doomer.
I don't think most Americans are "zombified", I just think that instead of "taking naps" they are living their lives. What do you expect them to do? Run? Hide? Move to a different country? What are you doing? Are you lobbying in DC to change things and wake up the sleepy politicians? Are you speaking at engagements around the US making those "zombies" aware of your predictions?
I think those that work are still working. Those that take care of their homes are doing that. Those that are losing them are stuggling to find ways to make ends meet. (and I know a few). They are not giving up.
You have given many examples of what can happen or will happen. Have you given any hope? Any solutions? Or are you just creating a panic-type scenario with no hope at all? And if it is out of the control of the average person, what is the point of all the above. Citing facts and predictions doesn't change anything.
At any rate, thank you for the news updates.
Tried to rep, must spread it around first. Very well said!
So the Doom and Gloom posters have all the answers right? When negativity is around, it will make people have a negative attitude, thus making it worse because they will have a "I can't do anything about it" attitude. Why not point out the good things and be thankful for what we have (our needs) and that we are healthy and not sick. Even if the Doom and Gloom poster is correct, what are we all suppose to do? All we can do is hang on and hope for the best. If it gets worse, just hold on tighter
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Maybe it is in the way you present your points. People KNOW the economy is possibly headed for disaster. You cannot go anywhere, read anything, listen to anything without hearing about it. Maybe they don't get into the stats, but they know it is not good and they should be doing what they can to protect themselves.
That's where I go when I need to get my fill of gloom and doom.
