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Old 10-23-2008, 01:56 PM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,835,178 times
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Gallery: The Greatest Depression, as Seen on the Covers of The Economist

It's always fun to get slammed by a disaster and then to look back and discover that some people had been warning you about it forever.
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Old 10-23-2008, 09:02 PM
 
Location: Los Angeles Area
3,306 posts, read 4,156,146 times
Reputation: 592
Yeah, I'm getting sick of hearing the "hindsight is 20/20" line. Many people were predicting this disaster. They didn't always agree on how it would play out, but they all agreed that troubled times were right around the corner.


People put their head in their rear end and then when something happens they say "Well no way I could've known", "I don't have a crystal ball", etc.
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Old 10-23-2008, 09:35 PM
 
Location: Sputnik Planitia
7,829 posts, read 11,790,682 times
Reputation: 9045
well so far the economy is still going strong, people are out there spending and having the time of their lives. If there is a recession I cannot see it, infact it has become much busier than normal. I just can't seem to get a parking spot at any mall around here and the restaurants are packed full even on weekdays. Not sure what is going on. Also, many people are going on vacations and talking about buying houses.
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Old 10-23-2008, 09:43 PM
 
Location: Charlotte, NC (in my mind)
7,943 posts, read 17,256,347 times
Reputation: 4686
Quote:
Originally Posted by k374 View Post
well so far the economy is still going strong, people are out there spending and having the time of their lives. If there is a recession I cannot see it, infact it has become much busier than normal. I just can't seem to get a parking spot at any mall around here and the restaurants are packed full even on weekdays. Not sure what is going on. Also, many people are going on vacations and talking about buying houses.
The company I work for, a tried and true department store, will soon go belly-up because people aren't shopping anymore. Its definitely a recession. Maybe not at Wal-Mart, but the high-end stores are really feeling it.
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Old 10-23-2008, 10:18 PM
 
Location: Los Angeles Area
3,306 posts, read 4,156,146 times
Reputation: 592
Quote:
Originally Posted by k374 View Post
well so far the economy is still going strong, people are out there spending and having the time of their lives. If there is a recession I cannot see it, infact it has become much busier than normal. I just can't seem to get a parking spot at any mall around here and the restaurants are packed full even on weekdays. Not sure what is going on. Also, many people are going on vacations and talking about buying houses.
The facts are contrary to your observations. Really though the number of people at a mall in no way indicates how much money they are spending at the mall.
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Old 10-24-2008, 05:07 AM
 
707 posts, read 1,293,389 times
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The real economy is just starting to feel it. Unemployment is still relatively low but it's gonna go to 9-10% and those same malls will be empty.
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Old 10-24-2008, 06:03 AM
 
Location: Londonderry, NH
41,479 posts, read 59,791,864 times
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Judging the health of an economy by the amount of cash flowing through a mall is one of the biggest problems. Cash flow is not accumulated wealth. As most is financed it is debt and debt destroys economies.
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Old 10-24-2008, 06:17 AM
 
Location: Raleigh, NC/ West Palm Beach, FL
1,062 posts, read 2,252,446 times
Reputation: 840
Quote:
Originally Posted by k374 View Post
well so far the economy is still going strong, people are out there spending and having the time of their lives. If there is a recession I cannot see it, infact it has become much busier than normal. I just can't seem to get a parking spot at any mall around here and the restaurants are packed full even on weekdays. Not sure what is going on. Also, many people are going on vacations and talking about buying houses.

That is like being informed that a category 4 hurricane is about 300 miles away from the shores and heading straight towards your coast and someone says "I am at the beach and it is sunny, I don't see a hurricane coming".
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Old 10-24-2008, 09:53 AM
 
Location: In My Own Little World. . .
3,238 posts, read 8,790,523 times
Reputation: 1614
Quote:
Originally Posted by k374 View Post
well so far the economy is still going strong, people are out there spending and having the time of their lives. If there is a recession I cannot see it, infact it has become much busier than normal. I just can't seem to get a parking spot at any mall around here and the restaurants are packed full even on weekdays. Not sure what is going on. Also, many people are going on vacations and talking about buying houses.
And Nero fiddled while Rome burned.
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Old 10-24-2008, 10:02 AM
 
Location: Great State of Texas
86,052 posts, read 84,495,743 times
Reputation: 27720
Quote:
Originally Posted by Humanoid View Post
Yeah, I'm getting sick of hearing the "hindsight is 20/20" line. Many people were predicting this disaster. They didn't always agree on how it would play out, but they all agreed that troubled times were right around the corner.


People put their head in their rear end and then when something happens they say "Well no way I could've known", "I don't have a crystal ball", etc.
Not me..I listened and took action last summer to protect my investments.
I also warned some friends and family..some took action and thanked me.
They are now believers of alternate news sites too
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