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View Full Version : With the economy the way it is...


Lusankya
October 10th, 2008, 12:32 PM
They had to redesign the dollar bill.

http://i300.photobucket.com/albums/nn24/soundtechman/thenewAmericandollar.jpg

So tell me, what do you think about the economy? What should be done? Is the bailout the right move? What will it take to get banks to start lending and people to invest again? Which presidential candidate has the better plan? How has the recession affected you? Let's talk economics...

Josephine
October 12th, 2008, 05:17 AM
I haven't got a clue what's going on, I don't particulary follow the news, but I saw this on the BBC website and I'm guessing things ain't going so great?

http://img522.imageshack.us/img522/6558/worldphailda5.png

Cassino
October 12th, 2008, 10:37 AM
I've seen seeing a lot more stuff about the stock market on the news... whatever that is. What's funny is nobody seems interested in finding out what's caused this crash.

Not that it effects me though, I've not noticed any of the alledged increases in prices, except for in fuel but then I don't drive.
If only communism worked in practice.

What the hell is up with banks, by the way? All I expect a bank to be doing is storing money so why are they all kicking up a fuss?

Lusankya
October 12th, 2008, 11:15 AM
Bank do far more than store money, they make money by investing money in stuff, and now that what they're investing in is going sour (especially mortgages) they are too.

Brien
October 12th, 2008, 11:20 AM
My parents retirement money is basically worth a third of once it was,

when I went foodshopping, it cost over 200 dollars for enough food for about 1-2 weeks for my family.

The inflation of this is ridiculous,

As soon as I am finished high school, I intend on going to move to either NYC or Philly, to spend the rest of my life working for mediocre wages and riding my bike to kindgom ka and back.

Virtual Chatot
October 12th, 2008, 11:31 AM
This isn't just about America, the whole global economy was teetering on the verge of collapse. Albeit the United States does uphold the global economy to an extent.

You cannot point a finger at anyone or anything, there were many factors which contributed to this whole fiasco. Wall Street screwed up, the Banks screwed up, Congress screwed up, and President Bush Screwed up. The people who were supposed to be in charge and protect us simply did nothing while the economy was taken advantage of by the greedy pigs on Wall Street and the banks who were giving loans to people who simply couldn't pay them back. If people continue on with this mentality that Government is just going to bail you out if you come up against any trouble, this country is in serious trouble.

Now with the United States' economy close to crashing, I really don't see how imposing Global Health Care and increasing taxes in general is going to do to help turn the economy down at this point. Not to say those are bad things, but they do put a strain on the economy, and we are already on the tipping point.

If only communism worked in practice.If only my friend, if only :(

Midnight Beat
October 12th, 2008, 11:48 AM
I've seen seeing a lot more stuff about the stock market on the news... whatever that is. What's funny is nobody seems interested in finding out what's caused this crash.

You can blame it on a lot of things, wall street, congress, Bush, the housing market, ect. Granted all those things contributed to the crisis, but there's no way that that's all. The fact is, no one know what exactly happened. :\

Joey the Cockroach
October 12th, 2008, 11:50 AM
well every country is going into a downward spiral, hong kong, singapore, uk, germany, usa, every country, and its not known who or what caused it.

Virtual Chatot
October 12th, 2008, 11:52 AM
well every country is going into a downward spiral, hong kong, singapore, uk, germany, usa, every country, and its not known who or what caused it.

Actually the Asian markets have managed to mostly bounce back from this, and I still think the Russian have their market locked. XD

But no, we do know what factors caused all this, we just won't know how badly we're hurt for a while.

Joey the Cockroach
October 12th, 2008, 12:04 PM
oh, i didnt seem to realise. so it is mostly europe, and North and South America that is in the red now?

Netto Azure
October 12th, 2008, 12:18 PM
This isn't just about America, the whole global economy was teetering on the verge of collapse. Albeit the United States does uphold the global economy to an extent.

You cannot point a finger at anyone or anything, there were many factors which contributed to this whole fiasco. Wall Street screwed up, the Banks screwed up, Congress screwed up, and President Bush Screwed up. The people who were supposed to be in charge and protect us simply did nothing while the economy was taken advantage of by the greedy pigs on Wall Street and the banks who were giving loans to people who simply couldn't pay them back. If people continue on with this mentality that Government is just going to bail you out if you come up against any trouble, this country is in serious trouble.

Now with the United States' economy close to crashing, I really don't see how imposing Global Health Care and increasing taxes in general is going to do to help turn the economy down at this point. Not to say those are bad things, but they do put a strain on the economy, and we are already on the tipping point.

If only my friend, if only :(

Well...Obama's Healthcare and Education plan's might pay off in the Long-term but it has a large upfront cost in the short term, so it won't fly right now. Why can't both candidates admit that both their campaign promises can't be implemented because their hands are tied to the Economy for the next 4 years? Eh probably because it's the home stretch of the election and they have to stick to the smears and campaign points. D=

You left out the people who bought houses just to refinance it and then sell it for a higher price. Also what about our addiction to debt.(aka eating more than we could chew) >_> so everyone's to blame....

Now that I think about it, we were very lucky for not buying a house during the housing boom. I mean we are still living in the same apartment for around 8 years now. I was like, just buy a house already, but I guess it was for the better that my parents were in a dead-lock on where, how big a house to buy.
So now during this economic crisis we might be more able to weather it and keep our lower-middle class lifestyle.

Communism: If only so that it practically works. But were humans...Were easily corrupted by power...

So realistically I prefer a social democracy with responsible oversight on the free-market system.

Edit: With the economy as it is...We could finally put President Bush in the Dollar Bill! (Joke)!

Also I've heard that the Philippines and the Asian markets are able to weather this Financial crisis since they learned their lesson on the 1990's Asian Financial crisis and became more conservative (and frugal)

Lusankya
October 12th, 2008, 01:31 PM
Actually the Asian markets have managed to mostly bounce back from this, and I still think the Russian have their market locked. XD

But no, we do know what factors caused all this, we just won't know how badly we're hurt for a while.

No, the Asian markets are failing pretty badly too. And yeah, Russia still hasn't opened their markets, because every time they do it drops about 20% in a day.

Cassino
October 12th, 2008, 02:04 PM
You can blame it on a lot of things, wall street, congress, Bush, the housing market, ect. Granted all those things contributed to the crisis, but there's no way that that's all. The fact is, no one know what exactly happened. :\
I'm not American, mind you.

Bank do far more than store money, they make money by investing money in stuff, and now that what they're investing in is going sour (especially mortgages) they are too.
Shame... once upon a time banks were an alien concept, now an account is required for most things. I'd be better off living back then. D:

Virtual Chatot
October 12th, 2008, 02:52 PM
You left out the people who bought houses just to refinance it and then sell it for a higher price. Also what about our addiction to debt.(aka eating more than we could chew) >_> so everyone's to blame....
They fall under the ones who the loans were giving loans to, I didn't forget them, but its the banks responsibility nonetheless.
Communism: If only so that it practically works. But were humans...Were easily corrupted by power...
Basically the reason why the Soviet Union failed, they put to much money into the Military and not into the people.

You use .'s too much :P

No, the Asian markets are failing pretty badly too. And yeah, Russia still hasn't opened their markets, because every time they do it drops about 20% in a day.Ah, I haven't being updated on the Asian markets, I remember at the beginning of this whole ordeal the Asian Markets were holding out. I guess they eventually got hit -_-'

Lusankya
October 12th, 2008, 03:07 PM
I listen to NPR while driving to school and back, and every day they keep posting up about the stock markets and all that other economical news. In the States, there's basically only two news stories now: The Economy, and the Election. The Japan index was doing okay at the start, but now all the stock markets are lower than they've been in years. Wall Street has just lost about 10 years worth of major growth in half a year.