financial hershey squirts.....

**0rion** · 09-17-2008, 10:02 PM

How long do you guys think it'll be before the country takes a huge financial shit? The writing is on the walls I think and the ball is a rollin'. I give it 12-18 months and the economic times we're in right now will feel like the high life.

**ls1camino** · 09-17-2008, 10:06 PM

All I'm hoping for is that the housing market stays god for buyers, because I'm looking to buy a house in the next year.

**The Manalishi** · 09-17-2008, 10:11 PM

It depends on if there are more "emergencies". Oil which drives the economy is still going down in price. There are still many healthy banks and investment firms. The mortgage market is slowly stabilizing in a lot of areas, the key word stabilizing. The old saying fools and their money will soon part ways is definitely being proven right now and there will be a lot of broke formerly wealthy people from this but I don't think it will crash our economy that fast.

**0rion** · 09-17-2008, 10:25 PM

Originally Posted by The Manalishi

It depends on if there are more "emergencies". Oil which drives the economy is still going down in price. There are still many healthy banks and investment firms. The mortgage market is slowly stabilizing in a lot of areas, the key word stabilizing. The old saying fools and their money will soon part ways is definitely being proven right now and there will be a lot of broke formerly wealthy people from this but I don't think it will crash our economy that fast.

The price of oil is going down at the moment but it's not enough and the drop in the price per barrel isn't showing up at the pumps and there's always a "reason" for it. I also think this drop in price will be short lived. Wait until x-mas rolls around this year and companies that depend on those sales to carry them through the year don't see it. People are scared shitless to spend money right now and it's going to compound. I just see bad things in our near future if something big doesn't happen to turn us around. The housing market is in shambles and the banks are struggling. Just a recipe for disaster.

**zero_proto** · 09-18-2008, 06:36 AM

the housing market is in shambles, sure. It will be like that for years and years to come, so many foreclosures. People are realizing the mistakes we made and that is slowly turning around. We are going to be in a crunch for a little while but it will not get much worse than it is right now. Hell all we have to do is stop buying shit from china, problem solved.

**ntimid8r** · 09-18-2008, 06:46 AM

Originally Posted by zero_proto

the housing market is in shambles, sure. It will be like that for years and years to come, so many foreclosures. People are realizing the mistakes we made and that is slowly turning around. We are going to be in a crunch for a little while but it will not get much worse than it is right now. Hell all we have to do is stop buying shit from china, problem solved.

I agree with not buying from out of the country. That's half the problem of our economy. Our U.S. owned companies are having their products made oversea's to cut down on labor costs to compete with prices. China has sweat shops, pay their people nothing and sell their product for cheap. So here we are putting our own people out of work to keep up with an unfair practice. It's a vicious circle but bottom line...the rich keep getting richer and the poor and just f***'d.

**tegaman111** · 09-18-2008, 07:49 AM

call your representatives and tell them to support the Fairtax! It will eliminate alot of these problems. if u do not understand- read both books!

**zero_proto** · 09-18-2008, 09:34 AM

fairtax?

**nuttyprofessor** · 09-19-2008, 03:48 PM

I think we might head for a great depression. I mean how the heck can this country support any more things.....war in Iraq, sagging economy, and large companies in shambles. The US economy was so poor last year that the US borrowed money from Russia, China, and the Middle East which amounted to almost 50% of teh US economy.

**JoshieDoom** · 09-21-2008, 01:52 AM

You can definately tell this in rural america. Lots of jobs are GONE. The biggest thing we have around here is the fact that the coal mines have opened up again. You can make
3k a week(cleared) working 40 hours where the minumum wage is 6ish bucks. Thats a 10 year thing though tops because there is only so much coal. Most places around here and cutting hours and increasing prices because gas isnt going down. 32 hour weeks suck balls. Im waiting on 1929 round 2.

**Sarge** · 09-21-2008, 02:45 AM

I'm having deja vu.....it is the 70's all over.

**SeVeReDiStOrTiOn** · 09-21-2008, 11:19 AM

Have you guys heard about that $700 billion buy out plan bush is going to pass?

**Sarge** · 09-21-2008, 02:00 PM

Needs to be a trillion.

**MysticZ28** · 09-21-2008, 07:43 PM

Originally Posted by Sarge

I'm having deja vu.....it is the 70's all over.

I think our choices are a do over on the 70s or a do over on the 30s. The 70s is to have the government buy up the bad debt, inflate the economy then sell off the bad debt for inflated dollars.

Or buy the debt and try to pay it off by raising taxes ... with the same result Hoover had, plunging the US/world into deep depression.

Think about those options when choosing our next president ...

**nuttyprofessor** · 09-22-2008, 03:55 PM

in the older days nearly 90% of the goods produced for the US were made in the US. It was then said that if the US produced less then 50% of its own goods then the US would be in trouble. Well, we have been there for quite some time, but it has always been stipled by other economic stimuli. Now that those are gone we are screwed.

Personally, I think that we are to blame for the state of the economy....we have become an I want country instead of an I need country. Why else would a retard who makes 35k a year even try to buy a 450k home?????

**0rion** · 09-22-2008, 03:58 PM

Originally Posted by nuttyprofessor

in the older days nearly 90% of the goods produced for the US were made in the US. It was then said that if the US produced less then 50% of its own goods then the US would be in trouble. Well, we have been there for quite some time, but it has always been stipled by other economic stimuli. Now that those are gone we are screwed.

Personally, I think that we are to blame for the state of the economy....we have become an I want country instead of an I need country. Why else would a retard who makes 35k a year even try to buy a 450k home?????

back in about the 6th grade I had a teacher tell us that the U.S. was moving away from a producing based economy and was moving towards a consumer based economy. He said that at some point in the future everyone in the room would be sitting around a table selling each other insurance.

He really wasn't far off I don't think. That was in '81 or '82.

**SeVeReDiStOrTiOn** · 09-22-2008, 04:00 PM

Originally Posted by nuttyprofessor

in the older days nearly 90% of the goods produced for the US were made in the US. It was then said that if the US produced less then 50% of its own goods then the US would be in trouble. Well, we have been there for quite some time, but it has always been stipled by other economic stimuli. Now that those are gone we are screwed.

Personally, I think that we are to blame for the state of the economy....we have become an I want country instead of an I need country. Why else would a retard who makes 35k a year even try to buy a 450k home?????

Damn skippy we're to blame...well not me because I pay my fucking bills but all these other dipshits that bailed on their mortgages. God I hope they're living on the streets eating out of trash cans...screw'em.

**0rion** · 09-22-2008, 04:09 PM

Originally Posted by SeVeReDiStOrTiOn

Damn skippy we're to blame...well not me because I pay my fucking bills but all these other dipshits that bailed on their mortgages. God I hope they're living on the streets eating out of trash cans...screw'em.

wonder how many of those people that bailed on mortgages were people that got roped into those interest only bullshit schemes? I bet more than a few.

**1MileCrash** · 09-22-2008, 09:09 PM

one of the problems is that credit has been give out WAY too liberally over the last 10 years. people who couldn't afford a $100k home got it anyway because of some funky number crunching by the einsteins. well they fucked up their facts and figures. they didn't take into account what would happen if the middle class would get destroyed by high gas and food prices.

the bail out is a start but we can't be bailing out everyone all the time. this one...probably needed cause lord only knows what things could turn out to be if we let some of the largest banks shut down.

aside from that we really, really, really, really...x5 billion need to invest heavily immediately in solar, wind, wave, biomass, nuclear (fusion and fission), and fuel cell energy. we must get off the dependence on oil...be it foreign or domestic. when we lead the world in the new technological energy direction we will get our economy back on track. i hate my natural resources prof cause he is a miserable, intolerable left wing hippie nutjob with some radical views on civilization but he did make ONE good point...the stone age didn't end because they ran out of stones...the stone age ended because they discovered metal worked better. we can't wait until oil runs out to figure out what we will use next.

we need to stop giving credit out to every tom, dick, and harry and we need to stop giving out all these second mortgages for this or that most of which is frivolous crap.

there is also way too much home building construction going on. in my town we just lost a mill and will probably lose the other two mills in our area in the coming years...and yet the home building continues. it needs to stop now. yes new houses are built but you are left with either an old property that nobody wants and sits and deteriorates or you end up with a new place that is too expensive for anyone to afford. i even heard a plan where the government would consider purchasing homes and destroy them to get them off the market to moderate supply and demand. interesting idea...who knows if it would work or not.

**0rion** · 09-22-2008, 09:20 PM

someone smarter than me explain this to me. I read/hear about how the defaulted mortgages are a driving factor behind this. What I don't understand is how the cycle gets so out of shape. Typically real estate is a good place to be. So when someone defaults on a mortgage and the property becomes the banks how are the banks losing enough to collapse? I realize the housing market is down right now but it's still physical property so I don't understand how that's driving this collapse so heavily. I would think the market, particularly oil and oil futures, is what's driving the majority of it by creating a panic amongst consumers and causing people to spend less overall.