U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Economics
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 07-09-2008, 04:30 PM
 
Location: Texas
4,933 posts, read 6,969,328 times
Reputation: 5506

Advertisements

Quote:
Originally Posted by HappyTexan View Post
And they do that and all of a sudden certain items will become "tax free" for one reason or another to benefit one group over another and that list will grow and grow.

The rich will always find or buy their way to little to no taxes.
that would happen eventually (much like our special interest dominated current tax code), but at least we'd get some temporary relief from taxes on income. a tax on the fruits of your own labor is serfdom.
Reply With Quote Quick reply to this message

 
Old 07-09-2008, 05:17 PM
 
Location: Great State of Texas
86,068 posts, read 74,719,235 times
Reputation: 27602
The similarities between events that lead up to the Great Depression and what's going on today is eerie. They say history repeats itself.

Crashes: The Florida Real Estate Craze

Florida Real Estate Bubble

Quote from above link:
"Market crashes always occur in the same manner. Regardless of the market, the same simple psychological underpinnings are always at work. People who are caught up in a bubble never look back for historical examples. For this folly, they become paupers.
“Those who cannot remember the past are condemned to repeat it.”
"

Shortly after that..the stock market started to bubble and we all know how that ended.
Reply With Quote Quick reply to this message
 
Old 07-09-2008, 05:51 PM
 
Location: Tolland County- Northeastern CT
4,459 posts, read 6,611,313 times
Reputation: 1237
Thus far the bears who have been roaming for about 2 years or so have been right- all the 'Perma Bulls', Wall Street economists (most of them) 'Bubblelonians' as well as former Fed Chairman Greenspan and now Chairman Bernanke have all been proven wrong.

They have all been in denial. At this point I am glad I have kept my money in safe havens- and not listened to these shills.
Reply With Quote Quick reply to this message
 
Old 07-09-2008, 05:53 PM
 
Location: Mid-Atlantic east coast
5,524 posts, read 10,222,667 times
Reputation: 10742
Guess it's a good thing I listened to my Dad about his experiences in going through the Great Depression. I know "frugal" thanks to him...Thanks, Dad. Sorry you're not around to tell you how smart you were.
Reply With Quote Quick reply to this message
 
Old 07-09-2008, 06:31 PM
 
Location: Heartland Florida
9,324 posts, read 24,258,908 times
Reputation: 4927
I always agreed that history repeats itself. You cannot ignore the fundamentals, and from the beginnings of the RE bubble, and the war on "terror" I saw a real estate crash, high energy prices, and high inflation. It has been taking a long time to collapse, but when it does happen the results will be devastating. It's only a matter of how long the world is fooled by the US economy. Once the crash takes hold it will not be easily changed. The next depression will make the Great Depression look like a picnic. My parents were children during the 1930's and know all to well about rough times. Today with a larger population and energy issues it will be far worse.
Reply With Quote Quick reply to this message
 
Old 07-09-2008, 09:30 PM
 
655 posts, read 757,225 times
Reputation: 240
Quote:
Originally Posted by tallrick View Post
I always agreed that history repeats itself. You cannot ignore the fundamentals, and from the beginnings of the RE bubble, and the war on "terror" I saw a real estate crash, high energy prices, and high inflation. It has been taking a long time to collapse, but when it does happen the results will be devastating. It's only a matter of how long the world is fooled by the US economy. Once the crash takes hold it will not be easily changed. The next depression will make the Great Depression look like a picnic. My parents were children during the 1930's and know all to well about rough times. Today with a larger population and energy issues it will be far worse.
I'm not one of these compound David Koresh nuts jobs, but the last sentence in your post is exactly why I've kept my firearms all these years. I sincerely fear a day when knowing how to defend yourself and your family will be essential to survival. I sincerely hope it NEVER comes to this and unlike the nuts living in the mountains, I hope it never does. But I also realize it is possible. If this country goes through another great depression, it will be so ugly most won't be able to comprehend it. Imagine the "gang culture" unleashed, unchecked upon the suburbs and society across this country. We are so spoiled and naive. The Ipod generation will cry and beg for mercy but there will be none. The anti-gun sandal wearing, granola crunching left wing liberal will be devoured without so much as a whimper.
Reply With Quote Quick reply to this message
 
Old 07-10-2008, 04:46 AM
 
Location: Tolland County- Northeastern CT
4,459 posts, read 6,611,313 times
Reputation: 1237
Anything that comes close to the great depression, or the recession of the late 70s and early 80s is going to make allot of people in this country not used to this type of economic downturn really hurt- this is true for people 40 and younger.
Reply With Quote Quick reply to this message
 
Old 07-11-2008, 09:18 AM
 
Location: Heartland Florida
9,324 posts, read 24,258,908 times
Reputation: 4927
Quote:
Originally Posted by travelmate38 View Post
I'm not one of these compound David Koresh nuts jobs, but the last sentence in your post is exactly why I've kept my firearms all these years. I sincerely fear a day when knowing how to defend yourself and your family will be essential to survival. I sincerely hope it NEVER comes to this and unlike the nuts living in the mountains, I hope it never does. But I also realize it is possible. If this country goes through another great depression, it will be so ugly most won't be able to comprehend it. Imagine the "gang culture" unleashed, unchecked upon the suburbs and society across this country. We are so spoiled and naive. The Ipod generation will cry and beg for mercy but there will be none. The anti-gun sandal wearing, granola crunching left wing liberal will be devoured without so much as a whimper.
Knowing how to harness waste as energy, grow food and innovate will be important. Knowing how to deal with people, and having a network of friends is even more important. Being armed and ready to defend yourselves would be critical. The Government has worked so hard to dumb us down, take away our chemicals and disarm that the criminal gangs would have easy pickings if the system breaks down. I remember the looting after hurricane Andrew and the "wild west" days where I was helping a friend repair his home and keep looters at bay. After that storm I realized just how fragile the United States is. As for liberal people I have been amazed how many of them cry to the local government when they do not like something. It is also amazing that a gun brings so much hate from some people. To me it's no different than any tool, made for select purposes. I hope to never use them for anything except target practice, but time will tell. Thankfully I am not spoiled and have been expecting disaster for a long time.
Reply With Quote Quick reply to this message
 
Old 07-11-2008, 09:45 AM
 
655 posts, read 757,225 times
Reputation: 240
Keeping in theme with the original question......After today, I am leaning towards, yes, this is the big one. Things are looking very bad out there. War with Iran, talk of banks failing, talks of Freddy, Fanny failing and so on. My gut tells me things are on the brink of truly hitting the fan.
Reply With Quote Quick reply to this message
 
Old 07-11-2008, 09:48 AM
 
55,047 posts, read 43,905,213 times
Reputation: 34446
Quote:
Originally Posted by John23 View Post
The Chinese are becoming engineers, Brazil is feeding the world commodities....and we sit here and watch stupidity.
The US is the world leader in agricultural efficiency and production. I'm guessing you live in a city, near the coasts and have never really thought about what goes on out in the middle of the country?

One reason the US is so successful is that we have an amazingly small portion of our wages go to food.
Reply With Quote Quick reply to this message
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.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top