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Old 07-01-2008, 02:51 PM
 
48,509 posts, read 86,231,222 times
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I think you forget that WE are not the coming consumer market like in the past.Look at american companies and were they are making money;they are exporters .Look at gas sales ;they have dropped in the US but the markets are still there for crude and growing. It is the people that can afford more than a one bowl of rice now that are the new demand consumer market for everything.To the we live ion the lap of luxury and they want some of it too.
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Old 07-01-2008, 05:05 PM
 
Location: Great State of Texas
86,068 posts, read 74,813,660 times
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Quote:
Originally Posted by car54 View Post
I don't understand it either, Ann. Seems to me that the destruction of the middle class is bad for business....ie. who's going to buy "the stuff"?

Henry Ford knew this. In 1908, he raised his workers' pay to an unheard of $5.00 a day. Why? He wanted his workers to be able to buy a new Ford too.

So, I ask again, if a vast portion of the population makes only enough to cover basic survival needs.....who is going to buy the stuff?
The elites and bankers have moved to China and India. Notice it's the multi-national corporations that have shown profits the last couple of quarters ? The money is not in the US..we have no money left we are so in debt.

The US middle class can be replace and slowly is by the upcoming consumers of India and China..they don't have the personal debt we do so they are "fresh meat".
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Old 07-01-2008, 05:50 PM
 
Location: Great State of Texas
86,068 posts, read 74,813,660 times
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Read and heed. This guy does technical charts and he's gone doom and gloom predicting the grand daddy of all bear markets.

His comentary today shows the bank stocks.
Financial Sense Online* Market WrapUp with Frank Barbera 07.01.2008
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Old 07-01-2008, 09:14 PM
 
48,509 posts, read 86,231,222 times
Reputation: 18106
Predict is right. Many of thgese peole are like herders trying to get people to move so tehy can make a buck. That is the bears and bulls all saying they have the real skinny. If they did they would be king and not even writing articles. Kinf of like the guys on TV saying by homes for 200 dollars;trolling for a following and bucks for themselves.
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Old 07-02-2008, 06:56 AM
 
Location: Londonderry, NH
41,478 posts, read 52,860,508 times
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Happy Texan - I read the article. The graphs are really frightening. Where is a small investor going to put their money with a decent expectation that they will be able to get it back let alone make a positive return? Right now I think commodities like gold are way over priced due to speculation and, after reading the article, I do not want to trust a bank with any of my money. Where to go?
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Old 07-02-2008, 09:15 AM
 
3,283 posts, read 4,759,339 times
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Quote:
Originally Posted by bchris02 View Post
Actually you are stealing from the American consumer at the pump. You are a huge part of whats wrong with this economy.

All of that aside, 25% unemployment by Jan 2010 is almost a sure thing.
bchris02 here is an article for you to read

In defense of oil 'speculators' - Jun. 27, 2008
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Old 07-02-2008, 10:34 AM
 
6,343 posts, read 8,963,133 times
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Originally Posted by GregW View Post
Happy Texan - I read the article. The graphs are really frightening. Where is a small investor going to put their money with a decent expectation that they will be able to get it back let alone make a positive return? Right now I think commodities like gold are way over priced due to speculation and, after reading the article, I do not want to trust a bank with any of my money. Where to go?

Keep in mind that in the early 1990s, when unemployment was ALLOT higher than it is now and the housing market was almost as bad, people were saying we would have a depression by 1995. What happened?....

Don't believe the "gloom-and-doom" guys. A recession...BIG DEAL! We had one in 2002 and came out alright. In a year or two, people will get used to high gas prices and that will be the end of that. If you don't drive an SUV and/or live fifty miles from your job, gas prices aren't a big deal. I drive a Caddy everyday to work and I'm still paying an average 1.50 a day for gas.
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Old 07-02-2008, 10:50 AM
 
55,257 posts, read 44,015,757 times
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Quote:
Originally Posted by Ann in Oriental View Post
So I guess we are going to a two class system...Investor class and working class.
Huh? The middle class has always been a working class.

Go get a degree in nursing, skilled electrician, math teacher....you will be middle-class.

Drop out of school or just squeek through highschool, don't get any additional trade-skills or other valuable skills and you are looking at being poor your whole life.

Thats the reality of the situation, is it for the worse? For some yes, others no.
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Old 07-02-2008, 11:34 AM
 
Location: Parker, CO
1,110 posts, read 2,823,808 times
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Quote:
Originally Posted by victorianpunk View Post
Keep in mind that in the early 1990s, when unemployment was ALLOT higher than it is now and the housing market was almost as bad, people were saying we would have a depression by 1995. What happened?....

Don't believe the "gloom-and-doom" guys. A recession...BIG DEAL! We had one in 2002 and came out alright. In a year or two, people will get used to high gas prices and that will be the end of that. If you don't drive an SUV and/or live fifty miles from your job, gas prices aren't a big deal. I drive a Caddy everyday to work and I'm still paying an average 1.50 a day for gas.
Thank you... although I'm no economic expert, I just can't beleive that our economy will totally collapse any time in the near future. I'm not naive- I know that things are bad right now, but we will get through this.

I think that alot of this panic is brought on by the media- they will plant fear in anyone who will listen, because they know it sells. Just this morning, I was watching a news report about how fewer Americans are traveling this year due to higher gas prices... what a shocker! I've only been hearing about the decrease in travel due to higher gas prices for the past year months, but the news made it sound as though it was some shocking new story. If my memory serves correctly, the gas prices this year aren't that much higher than they were last summer. Our over-dramatic media can take an ant hill and turn it into a mountain, and people will listen! Sadly, when people start listening, they stop spending, which makes our economic problems worse.

Does anyone remember Y2K?? Experts were predicting unprecedented doom and gloom. Does anyone remember people spending thousands of dollars stocking up on canned goods, candles, water, etc... I remember even hearing a news story about how they were expecting power to be out for up to 15 years, blah, blah, blah... I bet that those who spent all of those years worrying felt pretty foolish when none of this came to fruition.

I firmly beleive that we will have some difficult times ahead. I'm not denying that. I also beleive that obsessively worrying about it won't do any good. All you can do is watch for the signs, make wise financial decisions, and prepare for the worst. Perhaps this will prove to be the best thing for our country- people may finally wake up and learn how to stop living so far beyond their means.
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Old 07-02-2008, 01:54 PM
 
655 posts, read 758,820 times
Reputation: 240
Quote:
Originally Posted by victorianpunk View Post
Keep in mind that in the early 1990s, when unemployment was ALLOT higher than it is now and the housing market was almost as bad, people were saying we would have a depression by 1995. What happened?....

Don't believe the "gloom-and-doom" guys. A recession...BIG DEAL! We had one in 2002 and came out alright. In a year or two, people will get used to high gas prices and that will be the end of that. If you don't drive an SUV and/or live fifty miles from your job, gas prices aren't a big deal. I drive a Caddy everyday to work and I'm still paying an average 1.50 a day for gas.
I've been investing and intensly following world economies for two decades now - what we face today is much, much different. If you do not see this you are either not privy to all the information, or are in denial. No offense intended here, but it is bad, bad, bad and worse! This is not just about oil, energy, and the housing market. Most past recessions had a few issues weighing things down. Right now we have just about everything and the list is growing daily. You all can totally call me a quack and that is totally fine with me. But I believe if something drastic does not change immediately we might be heading into the perfect storm. A worldwide economic collapse of "biblical proportions." I'm not sure if it will be that bad yet, but I do know the die is cast and we are going to go through things much worse then they are now before they get better. That is gauranteed.
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