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The news media is telling us that we are currently in the biggest economic collapse since the 1930s. But:
Most of us who want to work are going to our jobs every day (unemployment is up but near an historical low)
Our bank accounts are secure (unlike the 1930s)
The American Dollar is rising against foreign currencies
The world economic leaders and federal reserve are working to solve the problems (unlike the 1930s)
Property values have not changed much in the last six months
Business are still making relatively good profits
Our ATM and credit cards are still working
There is still lots of things to buy and people will still be buying things for Christmas
The Airports are jammed and my local travel agent is still getting lots of calls.
People are still going to the stores and buying computers, DVDs and Plasma Televisions.
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Sure, times are tough for some of us but this is hardly like the Great Depression or the Reagan Recession in the early 1980s.
Last edited by Refugee56; 10-08-2008 at 09:40 AM..
the world ecconomy is colapsing, what are you talking about. The only way to save the world is new leadership, if that doesnt work, then maybe we can try "saving the cheerleader" next
The news media is telling us that we are currently in the biggest economic collapse since the 1930s. But:
Most of us who want to work are going to our jobs every day (unemployment is up but near an historical low)
Our bank accounts are secure (unlike the 1930s)
Property values have not changed much in the last six months
Business are still making relatively good profits
Our ATM and credit cards are still working
There is still lots of things to buy and people will still be buying things for Christmas
The Airports are jammed and my local travel agent is still getting lots of calls.
People are still going to the stores and buying computers, DVDs and Plasma Televisions.
Sure, times are tough for some of us but this is hardly like the Great Depression or the Reagan Recession in the early 1980s.
You are correct that the storm is (still) at higher levels than over half of America. Mostly a top-end problem -- and that is why The Powers That Be have their panties in a roll. And makes it sort of funny to me. But wait a while -- when the toilets really back up it is the lower floors that are really in deep . . . .
At least they started the end game with the "Stimulus Package" for the peons. If they give the bottom a dime, it might make them complain less when the top end starts stealing the dollars.
the world economy is collapsing, what are you talking about. The only way to save the world is new leadership, if that doesn't work, then maybe we can try "saving the cheerleader" next
The only problem I can see with replacing the current world leadership is trying to find any "leaders" who haven't been corrupted to one degree or another.
I wonder how we are going to fix our problems at the local & state level as well.
The news media is telling us that we are currently in the biggest economic collapse since the 1930s. But:
Most of us who want to work are going to our jobs every day (unemployment is up but near an historical low)
Uhh actually unemployment Real unemployment is between 9-11%
Our government decided to recalculate these numbers during the Clinton administration.Look it up.
Our bank accounts are secure (unlike the 1930s) Yeah,we have insurance,too bad the FDIC only has about 43 Billion left in their account to pay up.Basically,they can only handle one more large bank failure.
Property values have not changed much in the last six months
A new report just came out today I believe and while sales are up,prices are down.That actually is a good thing because the inflated values of the past we not sustainable.
Business are still making relatively good profits
Really? Quite a few reports that have came out have said otherwise.Except for Wal Mart and Costco at least.
Our ATM and credit cards are still working
Yeah today they are.Wait until these banks that issued CDS's find out exactly how much they really owe. Lehman Brothers CDS auction is Friday.Yippee.
There is still lots of things to buy and people will still be buying things for Christmas
On Credit?
The Airports are jammed and my local travel agent is still getting lots of calls.
On Credit?
People are still going to the stores and buying computers, DVDs and Plasma Televisions.
Once again,on credit? Do you know how many people are actually paying CASH?
Sure, times are tough for some of us but this is hardly like the Great Depression or the Reagan Recession in the early 1980s.
Nope this definitely will be a whole new ballgame. I'm afraid not in a good way though......
Well; I guess I am part of that 10% who is suffering----------my work has been down 25-30% compared to this time last year. I am an auto alignment technician.
Well; I guess I am part of that 10% who is suffering----------my work has been down 25-30% compared to this time last year. I am an auto alignment technician.
jmho, for your business, it is mostly a market-you-are-in problem.
Again, jmho, but presently gas (and diesel) autos are on the wrong side of history. Think buggy and buggy whip makers. Did not all go under in one day, but by 1910 the future of that industry was already written. Get out of gas and diesel automobiles while you still have other options.
The streets were full of people going to work this morning. The large company I work for is still hiring and a large number of people came in for orientation yesterday. The restaurants near where I work are full and there were lines at the movie theatre this weekend. Hardly a scene out of the great depression.
People are using credit cards because they want the points!
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