The End of Prosperity/Fasten your seats, its going to be a bumpy ride

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MzMia -> The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 6:57:00 PM)
Okay I am not even going to start much with the "700 Billion Dollars" that Congress just gave to the "powers that be". All indications and indicators, are telling US, we are in a heap of trouble, and rolling downhill faster than old Speed Racer. Really now? didn't many of us see this coming? I have been listening to the author Stephen Moore talk about his new book called, guess what? "The End to Prosperity!". Interesting points of view here. End of Prosperity, Arthur B. Laffer, Book - Barnes & Noble Now I look at the cover of Time Magazine, similar theme. The End of Prosperity? - TIME Let's see the dollar is losing its value as I type this, Wall Street is on a rollar coaster ride that no one knows when it will end, unemployment is going up daily, job's are being lost as I type, we all know about the housing/mortgage crisis, we all know about the oil situation, we all know about our National Debt, we all know about the 700 billion, we all know about how hard it will soon be for many to get any type of credit or loan, inflation is getting ready to take off even more folks! and we all now know that we are up the fucking creek. MzMia is thinking you don't need to be a rocket scientist these days to figure out we are in deep, deep fucking trouble. I learned the definition of a Depression, tonight. The definition of a DEPRESSION is a recession, that lingers for years. Well welcome to the beginning of the NEW DEPRESSION era, cause all indicators are showing that this ain't going away any time soon, and will last for years. Again, I am saying we are heading for a DEPRESSION. Any thoughts, idea's and opinions welcome.

slaveboyforyou -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:13:01 PM)
A depression is a lot more complicated than a "recession that last for years." The last depression had unemployment rates peaking at around 25%. We're not even at 5% unemployment, and I don't see us getting anywhere near 25% in the foreseeable future. We have safety nets that did not exist in the 1930's or the Long Depression that occurred for almost 20 years at the end of the 19th Century. We are almost assuredly headed for a recession, and it's going to hurt. It's not going to be pleasant. It's anyone's guess as to how long it will last. But we are not looking at another Great Depression.

Alumbrado -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:15:01 PM)
All indicators... you mean like the media, and people selling books? Well, I suppose they couldn't print it if it wasn't true, hmmmm?

MzMia -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:15:34 PM)
quote: ORIGINAL: slaveboyforyou A depression is a lot more complicated than a "recession that last for years." The last depression has unemployment rates peaking at around 25%. We're not even at 5% unemployment, and I don't see use getting anywhere near 25% in the foreseeable future. We have safety nets that did not exist in the 1930's or the Long Depression that occurred for almost 20 years at the end of the 19th Century. We are almost assuredly headed for a recession, and it's going to hurt. It's not going to be pleasant. It's anyone's guess as to how long it will last. But we are not looking at another Great Depression. Thanks for the reply, slaveboy! We are not in a DEPRESSION, yet! We are on the way! As I said, a DEPRESSION is a recession that keeps gettting worse and worse and goes on for YEARS. As I heard tonight, they did not think or know they would be in a Depression in 1929, but the situation, kept getting worse. Riddle me this? Is our country and our situation NOT getting worse every day? Humm, maybe I am the only one around here watching and listening to the news. [8\|]

Sanity -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:21:54 PM)
Nah, we'll elect the great Obama and through the power of hope and change and a powerful speech at a rock concert and it'll be just like the roaring twenties, almost as if by magic or something.

MzMia -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:26:16 PM)
quote: ORIGINAL: Sanity Nah, we'll elect the great Obama and through the power of hope and change and a powerful speech at a rock concert and it'll be just like the roaring twenties, almost as if by magic or something. Sorry, Sanity even Obama can't fix this overnight. All indicators are showing it will take at least 3-5 years for Obama to make a dent, in the country at this time. Maybe, after 8 years things will be a lot better. [;)] At least with the shit hitting the fan now, people can't blame Obama for this country's economic nightmare. The value of the dollar is dropping as I type these words. The citizens of the USA are getting ready to enter a period, that many have not experienced before. Sad thing is, many don't see it coming, and many are not going to know what hit them. Many have seen this coming for years, but the "powers that be", have not dealt with it. Even throwing 700 fucking billion does not appear to be making much of a dent. What next? Throw in 200,000 billion more dollars into it? With all the crap going on now, many STILL are saying, "No worries! No big deal!" Denial is certainly not just a river in Egypt. This country is getting many wake up calls, and many are going to have to dig their heads out of the sand.

bestbabync -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:41:59 PM)
well i read the other day that the depression lasted so long because FDR raised taxes to fund all the programs for the poor. instead of lowering taxes for companies and small businesses which would boost the economy by creating jobs, he taxed the businesses to death causing many to fail or cut back so much. all of this increased the unemployment rate....duh!!!!! then i remember Jimmy Carter! oh god, that man raised taxes during a recession! the unemployment rate reached 12%. i remember my friends and i graduating high school and there were no jobs, none! thankfully we could get a student loan or grant and attend school. but no job to be had once we graduated!

MzMia -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:46:01 PM)
quote: ORIGINAL: bestbabync well i read the other day that the depression lasted so long because FDR raised taxes to fund all the programs for the poor. instead of lowering taxes for companies and small businesses which would boost the economy by creating jobs, he taxed the businesses to death causing many to fail or cut back so much. all of this increased the unemployment rate....duh!!!!! then i remember Jimmy Carter! oh god, that man raised taxes during a recession! the unemployment rate reached 12%. i remember my friends and i graduating high school and there were no jobs, none! thankfully we could get a student loan or grant and attend school. but no job to be had once we graduated! Great points bestbaby, I enjoy an acutal discussion, here. I heard today that it will soon be a lot harder to GET a student loan, I shudder to think about the ramifications of that. Anything regarding obtaining credit is goint to get a lot harder. I read also during the Depression, the middle class and the working poor had to use more and more of their money to just survive! Riddle me this? Aren't many working people spending the majority of their paychecks for shelter, food, gas and basic expenses these days?

Sanity -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:46:05 PM)
Actually, Obama pushed hard as an activist lawyer and succeeded in forcing lenders into making the exact loans that are causing all the current foreclosures And Obama took millions from the companies tied to the bailout - he's right in the middle of this mess with his head, both hands and both feet still stuck in the cookie jar quote: At least with the shit hitting the fan now, people can't blame Obama for this country's economic nightmare.

MzMia -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:48:15 PM)
quote: ORIGINAL: Sanity Actually, Obama pushed hard as an activist lawyer and succeeded in forcing lenders into making the exact loans that are causing all the current foreclosures And Obama took millions from the companies tied to the bailout - he's right in the middle of this mess with his head, both hands and both feet still stuck in the cookie jar quote: At least with the shit hitting the fan now, people can't blame Obama for this country's economic nightmare. Many people have their hands in the cookie jars. Point IS, Obama has NOT been the Commander in Chief for the last 8 years. Who has been the Commander in Chief for the past 8 years? Oh excuse me? Just last month, we were being told, "The economy is great". President Bush, August 2008 ---> The Swamp ---_The fundamentals of the Amerikan economy are just fine. Damn if President Bush did not say this, 7 weeks ago. Don't you dare try to blame Senator Obama for this fucking nightmare our country is now in.

bestbabync -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:50:27 PM)
quote: ORIGINAL: MzMia quote: ORIGINAL: bestbabync well i read the other day that the depression lasted so long because FDR raised taxes to fund all the programs for the poor. instead of lowering taxes for companies and small businesses which would boost the economy by creating jobs, he taxed the businesses to death causing many to fail or cut back so much. all of this increased the unemployment rate....duh!!!!! then i remember Jimmy Carter! oh god, that man raised taxes during a recession! the unemployment rate reached 12%. i remember my friends and i graduating high school and there were no jobs, none! thankfully we could get a student loan or grant and attend school. but no job to be had once we graduated! Great points bestbaby, I enjoy an acutal discussion, here. I heard today that it will soon be a lot harder to GET a student loan, I shudder to think about the ramifications of that. Anything regarding obtaining credit is goint to get a lot harder. I read also during the Depression, the middle class and the working poor had to use more and more of their money to just survive! Riddle me this? Aren't many working people spending the majority of their paychecks for shelter, food, gas and basic expenses these days? Miz, i am one of the working class and that is exactly where my paycheck is going. i am paid once a month and once i pay my mortgage, car payment, utilities & food, i have just enough left for gas back & forth to work. i am single, so i am worried what i will do if things get worse.

bestbabync -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:52:34 PM)
quote: ORIGINAL: MzMia quote: ORIGINAL: Sanity Actually, Obama pushed hard as an activist lawyer and succeeded in forcing lenders into making the exact loans that are causing all the current foreclosures And Obama took millions from the companies tied to the bailout - he's right in the middle of this mess with his head, both hands and both feet still stuck in the cookie jar quote: At least with the shit hitting the fan now, people can't blame Obama for this country's economic nightmare. Many people have their hands in the cookie jars. Point IS, Obama has NOT been the Commander in Chief for the last 8 years. Who has been the Commander in Chief for the past 8 years? Oh excuse me? Just last month, we were being told, "The economy is great". [8\|] Miz, the economy WAS great when that statement was made. compared to what is ahead, it WAS good! we are so spoiled. but all that is gonna change!

Sanity -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:53:24 PM)
George Bush and the Republicans have been calling for tighter control over the offending institutions for years now, and Democrats like Barney Frank and Chris Dodd have killed every such legislative effort in committee. quote: ORIGINAL: MzMia Many people have their hands in the cookie jars. Point IS, Obama has NOT been the Commander in Chief for the last 8 years. Who has been the Commander in Chief for the past 8 years? Oh excuse me? Just last month, we were being told, "The economy is great". President Bush, August 2008 ---> The Swamp ---_The fundamentals of the Amerikan economy are just fine. Damn if President Bush did not say this, 7 weeks ago. Don't you dare try to blame Senator Obama for this fucking nightmare our country is now in.

bestbabync -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:54:40 PM)
the blame game should end! what we need to look at now is which plan will keep us from starving to death!!!

MzMia -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:55:46 PM)
Well Sanity, according to Bush and McCain, the economy was FINE and great up until a few weeks ago. Sorry, your statements are not computing. [;)] The National Economy Bush 2007: Economy is great!, Bush 2008: Economy is about to implode! \| Crooks and Liars

HarryVanWinkle -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:55:52 PM)
quote: ORIGINAL: slaveboyforyou A depression is a lot more complicated than a "recession that last for years." The last depression had unemployment rates peaking at around 25%. We're not even at 5% unemployment, and I don't see us getting anywhere near 25% in the foreseeable future. We have safety nets that did not exist in the 1930's or the Long Depression that occurred for almost 20 years at the end of the 19th Century. We are almost assuredly headed for a recession, and it's going to hurt. It's not going to be pleasant. It's anyone's guess as to how long it will last. But we are not looking at another Great Depression. I wish I could agree with you, but I can't. I think this one is going to make the 1930s look like good times in comparison.

bestbabync -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:59:03 PM)
if that is true, i do not want it to last 20 years!!! i believe our government needs to tighten it's belt and cut spending! pull us out of the war, cut every damn budget and cut taxes now!

HarryVanWinkle -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 8:59:57 PM)
quote: ORIGINAL: bestbabync the blame game should end! what we need to look at now is which plan will keep us from starving to death!!! I agree with you, Baby. When the soup lines start forming and half of us are living in Hooverville, what difference does it make who's "fault" it is.

MzMia -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 9:00:41 PM)
quote: ORIGINAL: HarryVanWinkle quote: ORIGINAL: bestbabync the blame game should end! what we need to look at now is which plan will keep us from starving to death!!! I agree with you, Baby. When the soup lines start forming and half of us are living in Hooverville, what difference does it make who's "fault" it is. HarryVanWinkle, sad thing is, many STILL don't see the shit that is coming. Riddle me that?

Sanity -> RE: The End of Prosperity/Fasten your seats, its going to be a bumpy ride (10/6/2008 9:02:05 PM)
What we've got is a crisis of confidence - so what do you expect the President to say, "Everybody panic!"? I don't recall Barack Obama claiming we were in the middle of a great depression two weeks ago... and how would it have helped or made a difference if any of them had. What's your point? quote: ORIGINAL: MzMia Well Sanity, according to Bush and McCain, the economy was FINE and great up until a few weeks ago. Sorry, your statements are not computing. [;)] The National Economy Bush 2007: Economy is great!, Bush 2008: Economy is about to implode! \| Crooks and Liars

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