Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Individually look up what I presented. Don't take my word for it. Look at the evidence. How do those factors not portray an economic downturn? Seriously I'd like an answer. If nothing else, to better educate myself. I created that channel not to put out bs. How is it monkey dung propaganda to show examples of possible future problems? Even if it was the smallest chance of problems, which its probably not. (But who knows)
After the music, there is no worthwhile content at all. None.
Obviously 2008 proved that it could happen, but it also proved that we can bailout and stimulate our way out of a depression and just have a deep recession.
At this time I don't see any obvious bubbles. In 2005-07 housing was very clearly in a bubble. 2006 was an insane year where housing skyrocketed.
Then again, a lot of people predicted a housing correction, especially of the sub-prime sector. They did not predict the credit default swaps crashing the market worse than expected. So if there is going to be a crash it's going to be something we don't anticipate.
Depressions happen because of banking failures. They happen when somebody's financial scheme backfires, they go under and it snowballs across the banks, money disappears from the economy. Prior to the Great Depression they happened every 7-15 years more or less. After the Great Depression, they still happened but in shallower fashion because of safeguards put in. It happened again and again in America's past - 1837, 1857, 1873, 1893, 1908, 1921, 1929 and those were just the big ones. 1946, 1959, 1973 - they still happened but with less severity and quicker rebounds. 2008-10 was on par with the 1981-82, it's hard to say which was worse. The recovery has definitely been more sluggish in our current case.
We're kind of going back to the future with the way our recovery looks - ie: it took the economy 7-10 years to get over 1837, 73 and 93. We're in a period that rivals the late 19th century for technological change in the economy and a re-definition of labor like what happened then, so that might be what's causing our problems. That doesn't bode well for us - those were not happy times.
I don't see the banks in trouble at the moment so no crash in the short term, but then the banks usually don't telegraph that they're in trouble.
Last edited by redguard57; 08-11-2015 at 09:21 PM..
The only trash being spewed is by Obama cheerleaders.
I'm no Obama fan but he did adopt reasonable steps to ensure liquidity in the financial markets and economic stimulus that prevented an outright economic collapse. I can quibble over where the stimulus money was flung but running a big deficit to stimulate the economy was the correct thing to do. For doing that, I think history will grade him as low-average a smidge better than Dubya rather than the FAUX News worst president ever rating.
I'm no Obama fan but he did adopt reasonable steps to ensure liquidity in the financial markets and economic stimulus that prevented an outright economic collapse.
Don't forget the critical G-20 work to make sure the rest of the world was on the same page.
Quote:
Originally Posted by GeoffD
I can quibble over where the stimulus money was flung but running a big deficit to stimulate the economy was the correct thing to do. For doing that, I think history will grade him as low-average a smidge better than Dubya...
LOL! Aside from the African AIDS Initiative, everything that W did was a complete failure. Simply put, he was the Anti-Midas.
All = a bunch of youtube doomsday people I've never heard of?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
