America's Financial Crisis

[Sip]

Re: America's Financial Crisis

I'd love to revisit this thread in about 5 years. It would be interesting to see how these typical "dooms day" scenarios will come to fruition and in what ways

Until then, Mr. Armenian, feel free to call me any names you wish. Only time will tell ... and until then, I know know ... you are amazingly smart and everyone else who disagrees with you is a dumb redneck. So what else is new?

Would you be willing to render a guess on what the shape of the US economy will be in 5 years from this day? Let us put this amazing intellect and "vision of the world" (bias?) of yours to a true test if you are man enough.

[Anoush]

Re: America's Financial Crisis

Sip, you are unfortunately not being realistic.

I totally agree with Armenian as I can see the market and the politics with it and where it's headed to. We are heading into depression and it is very unfortunate but it is the realistic picture. There's a full fledged recession with the housing and the realestate going bankrupt; why people in here are even selling their cars because they cannot make the payments. The market sucks and so is the world politics. We are headed into depression. It's too bad but that's what it looks like in most likelyhood.

[jgk3]

Re: America's Financial Crisis

Would you be willing to render a guess on what the shape of the US economy will be in 5 years from this day? Let us put this amazing intellect and "vision of the world" (bias?) of yours to a true test if you are man enough.

Do you think anyone was able to predict the rise of Russia during the Yeltsin years?

The requirements of the US to stabilize economically are clear, it must abandon it's empire agenda, and to do this, a political administration must steer the country in this direction, what does this have to do with predictions for 5 years down the road? We either get such an administration, or we don't, it's simple enough no?

[Armenian]

Re: America's Financial Crisis

I'd love to revisit this thread in about 5 years. It would be interesting to see how these typical "dooms day" scenarios will come to fruition and in what ways

Dear Sip,

You are acting silly, again. It can easily head to a doomsday scenario, but it does not have to. And there are no time frames in this discussion. Everything is dependent upon various domestic and international factors. But what are you basing your great optimism on? Obviously not the political and financial experts. Perhaps Fox News experts?...

We have been living in a post World War Two America (The American Dream), when the country was riding high and was the epicenter for politics and commence. Well, it's all but over now and this is only the beginning. Global geopolitics as well as the global financial system is gradually changing. America's inevitable collaspe as a global power may take a few decades to fully come about or a few years, it may be catastrophic or simply bad, nonetheless, there 'will' be a drastic decline in America's economic and political capabilities.

Like I told Yerazhishda, it does 'not' have to be this way. We 'don't' need a xxxxing empire. Empires live big and they die big. If this nation down sizes, tightens its belt, eats less, wastes less, purchases less, lives simply, lives within their means, stops borrowing money unnecessarily, stop using credit cards, recognizes that the financial system is utterly corrupt, recognizes that the Federal Reserve is ruining the nation, recognizes that US politicians don't serve the people they serve special interests, recognizances that globalism is ruing the nation, recognizes that we are fighting wars overseas to feed the mouths of a select few, recognizes that our relationship with nations like Israel and Saudi Arabia are major liabilities, recognizes that the trillions spent of wars and dictators overseas can be better spent in the nation, recognizes that the nation needs alternative energy... we might just pull through this mess.

Like individuals, nations have to live within their means. The US, like its citizens, has been living way beyond its real means for a long time now. And like when individuals who are living beyond their means go bankrupt when times are rough, so can nations. That is where the US stands today. In short, the bigger your liability is the harder will be your eventual fall.

And there is a growing fear of a major global war. Like I told Skhara, their profound fear of loosing their wealth and power will force them to react in violent and unpredictable manner. The wars in Serbia, Iraq and Afghanistan and the future war in Iran and their rabid hate of Russia are inherently tied to their desire to protect their global hegemony.

I'm going to leave you with one of my favorite Wall Street saying: "Past performance does not guarantee future results"...

Think about it.

Your financial Guru

Armenian

[Sip]

Re: America's Financial Crisis

If this nation down sizes, tightens its belt, eats less, wastes less, purchases less, lives simply, lives within their means, stops borrowing money unnecessarily, stop using credit cards, recognizes that the financial system is utterly corrupt, recognizes that the Federal Reserve is ruining the nation, recognizes that US politicians don't serve the people they serve special interests, recognizances that globalism is ruing the nation, recognizes that we are fighting wars overseas to feed the mouths of a select few, recognizes that our relationship with nations like Israel and Saudi Arabia are major liabilities, recognizes that the trillions spent of wars and dictators overseas can be better spent in the nation, recognizes that the nation needs alternative energy... we might just pull through this mess.

I completely agree with this. My position thus far which seems to have resulted in me being labeled a "red neck" is my inherent optimism in the outcome.

I'm going to leave you with one of my favorite Wall Street saying: "Past performance does not guarantee future results"...

But doesn't history repeat itself? Isn't that the whole premis behind why so many like to repeat this cliche about empires eventually "falling"?

For the 5-year revisiting sake, there is no doubt Globalism is a reality ... China and India will continue to force huge shifts in how things are done. But in the long run, it is going to come down to the old producer/consumer factor. If you produce more than you consume, you'll probably be in a better shape than the reverse ... and in US's case, no doubt the consumption has been blowing out of proportion but it does have the ability to catch up in terms of production (in the broad sense of the term). Of course cutting back on consumption (again broad sense of the word) wouldn't hurt at this point.

[Sip]

Re: America's Financial Crisis

Sip, you are unfortunately not being realistic.

I totally agree with Armenian as I can see the market and the politics with it and where it's headed to. We are heading into depression and it is very unfortunate but it is the realistic picture. There's a full fledged recession with the housing and the realestate going bankrupt; why people in here are even selling their cars because they cannot make the payments. The market sucks and so is the world politics. We are headed into depression. It's too bad but that's what it looks like in most likelyhood.

There have been economic recessions and depressions in the past. We have recovered from them just fine. Why is this one any different? The housing market was just exploding out of control and now it has gone through a very serious correction. Of course the negative effect was highly amplified by the sub prime disaster and the severe over-lending.

[Sip]

Re: America's Financial Crisis

Do you think anyone was able to predict the rise of Russia during the Yeltsin years?

The requirements of the US to stabilize economically are clear, it must abandon it's empire agenda, and to do this, a political administration must steer the country in this direction, what does this have to do with predictions for 5 years down the road? We either get such an administration, or we don't, it's simple enough no?

It certainly wouldn't hurt the US to step away from the "Republican" agenda for a few years. That's for sure. I am not one to believe much in conspiracy theories but if I didn't know how dumb the general voting public in the US actually is, I would seriously have considered such a theory on how the hell Bush ended up in office for 2 terms.

[Lamb Boy]

Re: America's Financial Crisis

Man some ppl here are amazingly simple minded. FYI we are not even in a recession yet. If you actually understand what has to take place in order for us to actually be in a recession. We will go into a recession no doubt but we are not there right now. Talking about depression like it's already happening is ignorant. Welcome to a free market society you pansies. What is happening right now is a market correction. Most of the companies that are folding are doing so because their administrative finance employees decided to invest huge amounts of money into mortgages. So the correction started when ppl decided they were not going to buy homes at the current market values. Ppl defaulted on their mortgages and now we are where we find ourselves. That coupled with this hurricane season and oil prices means our economy has been insanely unlucky lately. Watch the U.S. government come out on top after buying these companies dirt cheap. Right now is a great time to buy which is another way our economy will balance out. Ppl with the capacity to invest right now will do so and then come up BIG once the market returns to its old self.

[Armenian]

Re: America's Financial Crisis

But doesn't history repeat itself? Isn't that the whole premis behind why so many like to repeat this cliche about empires eventually "falling"?

Yes, silly thing, "history" repeats, not the economy's performance.

There have been economic recessions and depressions in the past. We have recovered from them just fine.

The empire has over eaten, its going into cardiac arrest. If it survives, I'm pretty sure it will, it will require longterm therapy and a drastic change of lifestyle and eating habits.

When the US went into its economic depression in the 1930s it was not as vulnerable as it is today. The US was an industrial powerhouse back then. The US government was not in deep debt. The US did not have countless serious problems around the globe. The US financial system was not as dependent on foreign exchange. It was not as dependent on foreign energy. And other than western Europe (who were close trading partners) the US did not have any serious financial or political competitors on earth. Today, the US is too fat, too bloated, too stupid, too shallow to withstand a deep and lasting recession. You must be a total 'idiot' if they think that this economic mess is simply a result of the mortgage crisis. The fundamental problems in the economy were there for may years. We saw a little introduction in the year 2000, at a time when the mortgage sector was doing very well. Then came the wars, Afghanistan and Iraq, to remedy the problems. Since the wars have not gone as planned, the situation seems to be getting worst. Today's mortgage crisis is the trigger not the cause.

Federal Reserve Chairman Ben Bernanke said today - the system could be days away from total collaspe.

The Fed is in essence forcing the government to somehow come up with trillions of dollars to remedy this problem. One problem, however. The US government does not have the money, it has to borrow it at the tax payers expense. And guess who it has to borrow it from? The Federal reserve, oil producing Arab states, China, Europe, Russia... America is for sale. The current national debt which will have to be payed sooner or later in one way or another is already about 10 trillion dollars. If you can't see the severity of the current crisis, you must be deaf, dumb and blind. Again, the mortgage crisis is not the problem, it's simply the trigger that set things in motion. Thus far, all the mayhem remains in the investment sector and the housing sector. If not checked properly it could get out of control like wildfire and ravage the entire country.

Listen to what the 'real' president of the US had to say today:

Bernanke Warns of 'Deep and Extensive Recession' If Feds Don't Take Action

Federal Reserve Chairman Ben Bernanke told House Republicans Friday morning that the country is facing its “most severe post-war” financial crisis, and warned of a “deep and extensive recession” if nothing is done. Sources who participated in the phone call briefing with Treasury Secretary Henry Paulson and Bernanke told FOX News that details of the federal government’s proposed rescue package are thin. But Bernanke described the situation as “quite dire,” as he suggested conditions were the worst since World War II. Sources said Paulson described stress in the financial infrastructure as "significant" and "spreading." He said that if the government doesn't act soon it would be "nothing short of a disaster" for the markets. Paulson and President Bush warned Friday morning in separate press conferences that it would take a “significant” infusion of taxpayer dollars to correct the economy. Lawmakers and members of the Bush administration are meeting over the weekend to draft a rescue plan, which Paulson says he hopes will pass through Congress next week. However, while Bernanke and Paulson briefed Republicans, there has been no such meeting with Democrats. The briefing could be indicative of complaints on the GOP side that they have not been kept in the loop on the administration’s rescue of Freddie Mac, Fannie Mae and this week American International Group.

Source: http://www.foxnews.com/printer_frien...425501,00.html

[Anoush]

Re: America's Financial Crisis

Man some ppl here are amazingly simple minded. FYI we are not even in a recession yet. If you actually understand what has to take place in order for us to actually be in a recession. We will go into a recession no doubt but we are not there right now. Talking about depression like it's already happening is ignorant. Welcome to a free market society you pansies. What is happening right now is a market correction. Most of the companies that are folding are doing so because their administrative finance employees decided to invest huge amounts of money into mortgages. So the correction started when ppl decided they were not going to buy homes at the current market values. Ppl defaulted on their mortgages and now we are where we find ourselves. That coupled with this hurricane season and oil prices means our economy has been insanely unlucky lately. Watch the U.S. government come out on top after buying these companies dirt cheap. Right now is a great time to buy which is another way our economy will balance out. Ppl with the capacity to invest right now will do so and then come up BIG once the market returns to its old self.

Sheep Boy, FYI did you hear what Armenian just informed us? Read it very carefully and digest it intelligently if you understand it, that is..... I hope.....

If we aren't in a recession, I don't know than what this horrific economy is about.... it's been a year now that there's a great shortage of jobs available... people left and right are selling their houses, people now have started selling their cars in a state where cars get you around and about as buses are not the norm and far and between, soon thanks to the shortage of money and jobs people will start vandalyzing and stealing from each other, and you don't call this a recession? We are living in one silly boy. Our political immaturities by going into wars like Iraq and now they want to go into war with Iran too has double worsened the economical turmoil that we're in right now. Get up from your hibernation and smell the coffee.