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Old 07-02-2008, 04:35 PM
 
Location: Great State of Texas
86,068 posts, read 74,637,745 times
Reputation: 27602

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I'm gonna agree with Travelmate38. We are in a place where we have never been before. Europe and the rest of the central bankers want to raise rates to fend off inflation. That is what should be happening but the US Fed can't do that because the US banks are in such a bad shape that an increase in rates will send them over the brink.

The US is caught between a rock and a hard place here.

The US dollar will start getting dumped in favor of the Euro if we don't raise rates.

This did not happen in previous recessions.
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Old 07-02-2008, 06:30 PM
 
Location: Charlotte, NC (in my mind)
7,946 posts, read 15,390,015 times
Reputation: 4544
Quote:
Originally Posted by travelmate38 View Post
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.
The world will be fine. Its America thats in trouble. I say there is a 50/50 chance of America not surviving to 2020 as a nation. We will either split, be dissolved into a larger union, or go into a dark period of anarchy.
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Old 07-02-2008, 07:50 PM
 
48,509 posts, read 86,088,090 times
Reputation: 18105
You don't seem to have paid attention to the world markets lately. Things are slowing evrywhere but even then its nothing comapred to teh 70's. Even uemployment is limited to certain sectors and regions.
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Old 07-02-2008, 09:14 PM
 
Location: Chicago
38,690 posts, read 91,033,017 times
Reputation: 29523
Quote:
Originally Posted by bchris02 View Post
The world will be fine. Its America thats in trouble. I say there is a 50/50 chance of America not surviving to 2020 as a nation. We will either split, be dissolved into a larger union, or go into a dark period of anarchy.
Are you always prone to this kind of ridiculous hyperbole? This country has survived far more trying times than anything we are facing now.
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Old 07-02-2008, 09:41 PM
 
6,342 posts, read 8,946,775 times
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Quote:
Originally Posted by Drover View Post
Are you always prone to this kind of ridiculous hyperbole? This country has survived far more trying times than anything we are facing now.

THANK YOU!

So...the Nazis, the Japanese and the Depression COMBINED was not enough to destroy America...but paying a dollar extra at the pump is?

GIVE ME A BREAK!

We are not yet in a recession, so says Mody's, as we did have positive GDP growth last quarter. The dollar is falling, but so what? The Franc was always lower than the dollar, but did France dissolve as a nation?

And even if we are in a recession, BIG DEAL! We've been through them before...remember 1990? Unemployment was actually allot higher then than it is now.

Sorry, but barring nuclear war or astroid impact, I don't see the end as being near.
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Old 07-02-2008, 09:51 PM
 
Location: San Diego CA
1,029 posts, read 2,123,270 times
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Quote:
Originally Posted by victorianpunk View Post
THANK YOU!

So...the Nazis, the Japanese and the Depression COMBINED was not enough to destroy America...but paying a dollar extra at the pump is?

GIVE ME A BREAK!

We are not yet in a recession, so says Mody's, as we did have positive GDP growth last quarter. The dollar is falling, but so what? The Franc was always lower than the dollar, but did France dissolve as a nation?

And even if we are in a recession, BIG DEAL! We've been through them before...remember 1990? Unemployment was actually allot higher then than it is now.

Sorry, but barring nuclear war or astroid impact, I don't see the end as being near.
I agree, And 1-2% of home foreclosing nationwide is not a lot.

The MEDIA likes to make it look 1000x worse!

My household is fine plus 1 rental
My mom's home is fine plus 1 commercial property
my grandparents home is fine
My siblings home is fine Plus 1 new biz going strong
My Dads home is fine plus 1 commercial property and 3 more rentals

The media like to make it seem like the end of utopia!
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Old 07-02-2008, 10:26 PM
 
655 posts, read 756,887 times
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Quote:
Originally Posted by Mugsy View Post
I agree, And 1-2% of home foreclosing nationwide is not a lot.

The MEDIA likes to make it look 1000x worse!

My household is fine plus 1 rental
My mom's home is fine plus 1 commercial property
my grandparents home is fine
My siblings home is fine Plus 1 new biz going strong
My Dads home is fine plus 1 commercial property and 3 more rentals

The media like to make it seem like the end of utopia!
It's an election year and the media is doing all they can to make sure Obama is elected. What more would you expect. That being said, things are bad and getting worse. I don't think it is the end of times, but most of us will cry out "UNCLE" before it is all said and done.
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Old 07-08-2008, 02:54 PM
 
55,021 posts, read 43,857,810 times
Reputation: 34427
Quote:
Originally Posted by bchris02 View Post
The world will be fine. Its America thats in trouble. I say there is a 50/50 chance of America not surviving to 2020 as a nation. We will either split, be dissolved into a larger union, or go into a dark period of anarchy.
Dissolved into a larger union?
Are you sure it's a 50/50 chance? why not 30/70 or maybe 90/40?
Those all seem like viable options you might have chosen given your extensive thought process on the topic.
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Old 07-08-2008, 04:35 PM
 
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,248 posts, read 21,876,353 times
Reputation: 3587
We will be fine
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Old 07-10-2008, 12:19 AM
 
Location: Up in a cedar tree.
1,618 posts, read 6,056,843 times
Reputation: 562
Sounds like, soon everyone is going to live under rocks, trees and caves (I got 1st dibs on the cave). Then the only source of food is to hunt each other (the hunted).

Makes me laugh!!



Quote:
Originally Posted by travelmate38 View Post
Nothing but bad news folks and getting worse, much worse by the day. Something evil is brewing in this market, worldwide for that matter. The mass layoffs coming over the next 6 months will be unlike any of us have seen in our lifetimes.

Oil is all but now guaranteed to spike past $170 this year and probably won't stop there.

Airlines will go belly up laying off 100,000s of workers.

Trucking companies shutting down and or refusing to transport goods.

Banks are now on the verge of going under. Many financial institutions have sell and strong sell ratings on banks. I'm talking major US banks.This will lead to bank failures, as well as tens of thousands of job losses. When banks start going under, watch out people, you know it is bad then!

I traveled across the country these past 3-weeks, coast to coast. All the typical touristy areas are dead, quiet and businesses are beginning to close, one by one.

Repos spiking nationwide.

Stock market collapsing and the worse it yet to come. Try Dow 7000 on for size. I beleive it will happen

All energy costs are doubling, some almost annually.

GM, Ford, Chrysler, all just rated as strong sells with credit failures expected! They will all go under over the next 18 months, leading to over 1 millions layoffs worldwide.

Dollar still sinking

Food and basic daily living expenses up 30% and rising by the minute.

Remember, all these factors and the hundreds more I did not mention, trickle down into all aspects of the economy and WILL affect you, not matter what profession you work in.

I get the feeling we are in for a huge depression in this country and perhaps worldwide for that matter. I've followed investing and the markets for decades and this is not the typical bump in the road folks. Feel free to disagree, but I believe we are right in the mists of a financial meltdown.
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