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Everywhere I go, people are talking like something big and scary is happening in the economy. Seems to be a great deal of fear. At the same time, nothing fundamentally has changed with regards to the economy. In fact, commodity prices have declined, which may benefit producers. If real estate prices fall, we may see more buyers coming to the table.
Wallstreet is just a distraction as far as I am concerned. Can anyone give me any real reason to be afraid?
In general the public are concerned about the economy because nobody has been honest about what is happening.
The world is leveling out. Incomes in poor countries have a long way to rise, but once we get there wages across the globe can rise, until then the USA and the EU are in holding patterns, trying to maintain standards of living while the rest of the world catches up.
This could have another 20 year or more to run. through this time many will feel an impending doom because they don't understand that the world economy is not falling apart it is leveling out.
I never paid any attention till I just bought my first house. Now I'm constantly worried the economy is going to fall apart and I'm going to lose everything. I just want enough to pay my bills, put $ away for retirement, keep the emergency fund flush, have a baby one day soon, and still have $1,000+ left over each month so I know I'm not living paycheck to paycheck.
Everywhere I go, people are talking like something big and scary is happening in the economy. Seems to be a great deal of fear. At the same time, nothing fundamentally has changed with regards to the economy. In fact, commodity prices have declined, which may benefit producers. If real estate prices fall, we may see more buyers coming to the table.
Wallstreet is just a distraction as far as I am concerned. Can anyone give me any real reason to be afraid?
Quite frankly, reading C-D forums gives me the impression that present-day Americans are afraid of everything. U.S. society just seems to simmer with anxiety.
The rest of the world didn't borrow US$. They acquired them as compensation for selling us products (our trade deficit). It's the US government that did the borrowing. That's where a large part of our fiscal debt came from.
Foreign countries are quite happy to have a strong US$. It means US production will be overpriced, which means we will have a high trade deficit, which means they can keep selling us product.
The strong US$ sucks for US workers and US based production. Foreign countries love it.
I don't think I have anything backwards. Much of the world has been borrowing in US dollars because, over the last decade or so, the dollar was headed down. So they borrowed dollars with the expectation of paying back later in even cheaper dollars. That's why the economies of all the emerging markets re now in trouble. And to add insult to injury, the prices of their commodities are headed lower. Just wait and watch.
That's probably due to the fact that since July, there are 742,000 fewer Americans employed.
Your numbers are not seasonally adjusted. Kind of de rigeur over such short time periods. But hey, if you want to stick with NSA, the employed number is up by 1,345K over six months, and 2,039K over twelve. Seems like there ought to be euphoria, not gloom.
Quote:
Originally Posted by Mircea
You should see a global recession as Capital moves to India sometime in the next 2 years.
Economy is booming in South Florida. Actually, I thought it was growing in Detroit, as well. I've heard a number of younger people say they are heading there.
We, as a nation, currently owe about $ 19 Trillion to others. Most economists agree that about $ 25 Trillion is the point of no return. Now, imagine that we reach this point (not hard, Obama increased the debt this much in a few years). Now, imagine that the LENDERS, like China, say no to our requests for more loans because they've lost faith in our ability to pay it back. Now imagine the massive and immediate government spending cuts which would have to occur. Now, imagine that the roughly 50% of the country who are on government assistance stop getting their checks. Now imagine that 50% of the population being hungry, angry and looking for YOUR stuff.
There you go, something to really be afraid of.
Beans & ammo, my friend, beans and ammo.
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