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Geek Culture / [LOCKED] Heading towards a recession?

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Frankie Pawnage5
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Posted: 23rd Oct 2008 03:59
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hey!
Im a little concerned about something, is this country going to go into another depression?
Appearently the stock markets are going way down, so they say were heading towards a recession,
Who believes this?

dude if you really want a turkey sandwich, then make one, and make ham.sdaF?
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Xenocythe
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Posted: 23rd Oct 2008 04:02
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My father is an economist, and he believes that we'll be able to pull ourselves out of this little deficit spending whole our government has created. I mean, the whole mortgage/forclosure situation isn't exactly helping us out, but America is a smart country. We can 'deal' with this.

3.11 We do not tolerate posts made for the purpose of putting down another forum member, group of members, religion, our company, our staff or any of our moderators, past or present.
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Frankie Pawnage5
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Posted: 23rd Oct 2008 04:03
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Well im not sure i mean it happened once to this country that you say is so smart, why wouldnt it happen again?

dude if you really want a turkey sandwich, then make one, and make ham.sdaF?
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BiggAdd
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Posted: 23rd Oct 2008 04:06
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H.... Hav.... You........ You only just noticed?

That may be the case unless the government bails out the banks.
Unless you are riding on a wave of high credit/debt, I don't think there is much to worry about.

House prices will fall and no doubt the price of fuel will increase.

To be honest the most sensible thing to do is invest in a few shares while they are still low.
Things can only go up from the bottom

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AlanC
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Posted: 23rd Oct 2008 04:38 Edited at: 23rd Oct 2008 04:53
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We have pretty much been in this hell hole for awhile.

Wall street = Wal-Mart Street.

Retro Gaming.
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Venge
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Posted: 23rd Oct 2008 04:39
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Quote: "why wouldnt it happen again?"


Because after 1929, the government passed a lot of laws and set up safety measures to make sure it couldn't happen again, at least not as completely as it did back then. On the plus side, the fear of recession has led to lower gas prices! (currently $2.30/gal here). Other than that, this whole economical crisis really hasn't affected me, probably because a) I'm not a homeowner, nor will I be one until after college at least, and b) I haven't invested in the stock market or any of the banks that failed.

I have CDO. It's like OCD, but the letters are in alphabetical order, like they should be.
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tha_rami
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Posted: 23rd Oct 2008 05:13
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Yes, a depression is coming up. In no time, people will go mad and call each other names over things as futile as eleven dollar.


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Yodaman Jer
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Posted: 23rd Oct 2008 05:31 Edited at: 23rd Oct 2008 05:31
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Wow, if I weren't a minor (for just a little longer), I might say something political, but I'd probably get slapped. So I'll just say,
if there's going to be another depression, there's going to be another depression. It's that simple. Even in the year 3000, I predict there will be a threat of another depression. Economy's can't stay stable forever. It's impossible.

Yodaman Jer

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Sid Sinister
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Posted: 23rd Oct 2008 05:59
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*Makes some sort of 2012 joke*

Whether we hit a depression or not depends a lot on the next man elected into the white house. This will be my first presidential election I'm voting in!

Question to all those over seas...

It's a fact that America is having tough economic times right now. America is in many ways the hub for business and trade in the world. How has our economic instability affected your country and your government? Have you guys noticed anything? What's going on over there?

"If I have seen a little further it is by standing on the shoulders of Giants" - Isaac Newton
-Computer Animation Major @Baker.edu-
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Agent Dink
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Posted: 23rd Oct 2008 06:14
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All I know is the recession seems to be a good thing for me for now... Gas prices went down. Property values are low, meaning this is an excellent time to buy into real estate, which is exactly what me and a cousin are considering doing.

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Jeku
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Posted: 23rd Oct 2008 09:40
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Quote: "Whether we hit a depression or not depends a lot on the next man elected into the white house. This will be my first presidential election I'm voting in!"


No-- regardless of who gets in next month the U.S. economy is still going low. The economy of dozens of countries are in the tubes now, not just America's.

But I'm having fun shorting companies every day and making money that way. No one says you have to lose money when the market goes down


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Sid Sinister
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Posted: 23rd Oct 2008 10:16
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Quote: "But I'm having fun shorting companies every day and making money that way."


What?

And I disagree. McCain and Obama have two very different ideas on the economy. Not just about revitalizing it, but how our tax system should work. Their plans could make or break the system if they get passed by congress. It all depends on how much support for it either candidate (depending who gets in) can garner, and that depends on a lot on the American people.

"If I have seen a little further it is by standing on the shoulders of Giants" - Isaac Newton
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Matt Rock
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Posted: 23rd Oct 2008 11:01 Edited at: 23rd Oct 2008 13:09
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It depends on how you're doing financially. Many economists say we're already in a recession. Some go so far as to say the next depression is right around the corner. The legislation that existed to safeguard us against that repeating has been deregulated to a frightening point. We're at a very scary crossroads in this country, and it seems that there are a number of people out there who don't see the severity of the situation because they believe their safe currently from the pitfalls of a struggling economy.

This is one of those topics that absolutely must go political, because it's administration policy that drives the economy of any country. I'll start a thread on MINet about it, lol. After the religious debate went so smoothly, with no flaming or immaturity, I feel safe in giving it another go, and that will help stave off AUP violations on TGC. That being said, I can't really comment any further on this issue here on TGC, not without seriously violating that rule and viciously assaulting the people who are definitely to blame for the economic issues we're facing today.

So I'll leave it with this... my girlfriend and I are having a very difficult time finding a nice apartment in a nice neighborhood, because people who used to own homes are all getting apartments now. Not scum-of-the-earth people who couldn't afford those homes, either. I'm talking about decent, hardworking people who lost their homes because the banks are doing some foul, foul things here in the US, things that wouldn't have been possible had it not been for deregulation.

Edit: The afformentioned political thread is here. It isn't about the recession so much as it's broadly about the election and politics in general, so if anyone feels the need to rant about politics, do it there, so long as you can remain mature and respectful of the opinions of others, of course. This worked pretty well with the religious thread, or so I and (I assume) the participants thought anyway, so I figured it would work with the politics thing as well. If anyone thinks it's lame, tell me and I won't do it when future debates come up.

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Grandma
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Posted: 23rd Oct 2008 11:33
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You've been in a recession now for a few years I believe. I'm less optimistic about the outcome, with a total of $53 Trillion in public debt. No country is immune to recession or even depression as Yodaman Jer said. It also doesn't help with the private fed system increasing the inflation every time they print money. Things are getting to us too, ours and Swedens currency have been losing value. We've also had this "bailout" package.

I have more thoughts on the issue, but I'll leave it be for mentioned AUP-related reasons.

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Seppuku Arts
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Posted: 23rd Oct 2008 13:11
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Quote: "The economy of dozens of countries are in the tubes now, not just America's. "


Yup, and the UK is one of them, you can see the price of food just rising - but I don't know if it'll end in a depression, I mean it's a problem we can see from afar, it's happened before and it should be easier to sort out - but then I suppose it depends on how good the people in power are with the economy, I have little confidence in the current people in office - but I won't go much into that, after all Jeku would probably have to point me in the direction of the AUP.

Quote: "I'll start a thread on MINet about it, lol. After the religious debate went so smoothly, with no flaming or immaturity, I feel safe in giving it another go, and that will help stave off AUP violations on TGC"


Yes, I think I might have to recommend your forums - I quite like seeing debates like that going off well; I wish we could have them here, but I know for certain reasons that we can not.

You sir have the moral ambivalence of a mutated shrimp!
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Alucard94
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Posted: 23rd Oct 2008 13:26
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Well Sweden for one, has seemingly a "planned" financial down/up time. Basically it shifts every ten years for some reason, we have ten years of good, ten years of bad, and it's been this way for a long time now, and just about now starts the new ten years when it (According to the "statistics") is supposed to be bad.
I have no idea why though.


Alucard94, the member of the future of the past.
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BatVink
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Posted: 23rd Oct 2008 15:19
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Quote: "is this country going to go into another depression?"


Just for reference, this is a multi-national audience, and the forum is actually in the UK You could replace "country" with "World", and the answer would be the same.

Depression and recession are not the same thing. A recession is 2 consecutive quarters where there is no financial growth in the business sector of one country. A depression affects many economies, and is wider spread.

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mamaji4
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Posted: 23rd Oct 2008 15:55
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One common misconception is that the stock markets LAG the economy. Actually they LEAD the economy. When they turn around you will know that the country is going to come out of recession.
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NeX the Fairly Fast Ferret
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Posted: 23rd Oct 2008 15:57
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I blame bonuses. Bradford and Bingley's (a struggling UK bank) CEO received a 571% bonus bringing his already obscene salary up to £22.1 million according to Private Eye.

Just what do you do with £22.1 million whilst the people below struggle? I call for a 20% bonus cap.

Should I continue coding or focus on my art? Vote here:
http://www.polldaddy.com/p/953461/
NeX, the creator of a billion failed projects.
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Robert F
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Posted: 23rd Oct 2008 16:20
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Quote: "On the plus side, the fear of recession has led to lower gas prices! (currently $2.30/gal here)."


I actually think that's a good thing, because it saves money for many. More money = more items bought. More items bought = wealth.


^ Click on my SIG! ^
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General Reed
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Posted: 23rd Oct 2008 17:27
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Quote: "hey!
Im a little concerned about something, is this country going to go into another depression?
Appearently the stock markets are going way down, so they say were heading towards a recession,
Who believes this?"


Lol, this was probably just a genuine mistake, but i do tend to find you americans have an idea that america, is the whole world.

This is a UK(manchester) based forum, so to alot of people, this question is vague.

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Grandma
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Posted: 23rd Oct 2008 18:45 Edited at: 23rd Oct 2008 18:47
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Quote: "Lol, this was probably just a genuine mistake, but i do tend to find you americans have an idea that america, is the whole world."

I've seen that too, from many wasted hours on youtube. In comments and videos, people saying ~"this country" without specifying. Some few without any hint of nationality in their profile. Of course, it is easier to know what country they are talking about in videos, but it tends to be annoying with comments when you always have to check their profile.

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JoelJ
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Posted: 23rd Oct 2008 19:10
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Quote: "i do tend to find you americans have an idea that america, is the whole world."

isn't it?

and no, we're not going to go into another depression. I think the biggest problem is the media talking about it like it's horrible, and people watching their stocks fall and panicing, thus causing them to fall more.

People just need to sit tight, and live life normally.


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Zombie 20
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Posted: 23rd Oct 2008 19:27
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If it happens it happens, we'll get through it.


As for jobs and money, well fed-ex will always have people needed.


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zenassem
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Posted: 23rd Oct 2008 19:27
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Quote: "i do tend to find you americans have an idea that america, is the whole world"


No not the whole world, just the part that matters!

"When I look at that square... I wish FPSC noobs would stay on their side of the forums and stop polluting these boards." - Benjamin
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General Reed
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Posted: 23rd Oct 2008 19:41
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Quote: "No not the whole world, just the part that matters!"

Typical american. Has no idea how corrupt america is, or even the fact that america takes all of its ideas from other countrys, and claim them as their own. You americans need to stop taking credit for other peoples stuff, and open your eyes. Life is just as easy, if not easier, in the UK and France. Here we dont have to worry about health care s**t, we have GOOD education as standard, and our prime minister is not a warmonger'er. In france its supposed to be even better, parents of a young child, can actualy get a baybysitter for free, 4 hours a day. Im america "the land of the free", you get none of this. You have to pay insane amount for health insurance, that is if you manage to get it. People like bush are constantly fooling you to beleive the war in iraq is actualy neccesery, when anyone in any other country can see otherwise.

No.. Its not the land of the free, its the land of profit and war. The only reason america was founded, was because a few idiotic people were unable to cope with the laws in england at the time, and so imagrated to america.

I understand that not EVERY american sees the world this way, but that sad truth is, that most people, including zeanassem do... You people need to wake up.

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Grandma
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Posted: 23rd Oct 2008 19:47
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@ General Reed

Zenassem was obviously making a joke there.

You're gonna get slapped me thinks, or worse.

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Deathead
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Posted: 23rd Oct 2008 19:51
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Quote: "and our prime minister is not a warmonger'er"

Our prime minister is also really bad at the job.


"Your greatest teacher is your harshest critic"-Butterfingers
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General Reed
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Posted: 23rd Oct 2008 19:55
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Quote: "Our prime minister is also really bad at the job."

Yes he sucks, but hes not content on driving the country into war, for the profit of himself, as bush is, for the federal reserve.

Quote: "You're gonna get slapped me thinks, or worse."

Why? What have i done wrong? Can noone speak their mind on this forum?

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Deathead
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Posted: 23rd Oct 2008 19:56
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Quote: "Why? What have i done wrong? Can noone speak their mind on this forum?
"

You swore. And also it was deliberate to put down others.


"Your greatest teacher is your harshest critic"-Butterfingers
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mamaji4
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Ok. I've been trading the markets for some time now and here's my analysis and prognosis.
The Dow is headed southward for the next 5-6 years, when it should bottom out at around 5000. It won't break the last top for a long, long time. That's the prognosis. In a nutshell and to the point.
Look out for a very long recession.
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zenassem
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Posted: 23rd Oct 2008 19:58 Edited at: 23rd Oct 2008 19:59
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It indeed was a joke, hence the .

However I guess my joke was an ultimate fail. These must be very sensitive times. I remember when we could all laugh a bit at ourselves around here.

"When I look at that square... I wish FPSC noobs would stay on their side of the forums and stop polluting these boards." - Benjamin
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Cong
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Posted: 23rd Oct 2008 19:58 Edited at: 23rd Oct 2008 19:59
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Quote: "Yes he sucks, but hes not content on driving the country into war, for the profit of himself, as bush is, for the federal reserve."


so hes an idiot then

england has a SCOTTISH pm

o yerh maybe i want to be the american president i wonder if they would let me

england is a push over country

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Grandma
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Posted: 23rd Oct 2008 19:59
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Quote: "Why? What have i done wrong? Can noone speak their mind on this forum?"

You broke 2 or 3 points of the AUP. Speaking your mind is great, as long as it is within the rules. I know they are strict here, I would like them less-so, however I think it's better this way in the end.

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Deathead
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Posted: 23rd Oct 2008 20:00
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Quote: "
england is a push over country "

And so it is, but only because of labour. Labour is a group of Idiotic money grabbers.


"Your greatest teacher is your harshest critic"-Butterfingers
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Cong
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Posted: 23rd Oct 2008 20:01
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Quote: "And so it is, but only because of labour. Labour is a group of Idiotic money grabbers"


that is so so true
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zenassem
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Posted: 23rd Oct 2008 20:07
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... And soon Microsoft will buy TGC, and db/dbp too will be an American developmnent!!

Pay particular attention to the " " in the above post.

"When I look at that square... I wish FPSC noobs would stay on their side of the forums and stop polluting these boards." - Benjamin
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Dextro
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Posted: 23rd Oct 2008 20:34 Edited at: 23rd Oct 2008 20:34
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Dude, take a hint. Zenassem was joking.
PS:
Nice to have you back Zen.
edit:
Oops, posted too late, please dismiss.
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Cong
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Posted: 23rd Oct 2008 20:35
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at time likes these i wonder what animal id like to be instead of human

a gorrila maybe
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zenassem
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Posted: 23rd Oct 2008 20:36 Edited at: 23rd Oct 2008 20:38
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Quote: "at time likes these i wonder what animal id like to be instead of human"


THIS cat ftw!!!


"When I look at that square... I wish FPSC noobs would stay on their side of the forums and stop polluting these boards." - Benjamin
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General Reed
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Posted: 23rd Oct 2008 20:41
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Quote: "And so it is, but only because of labour. Labour is a group of Idiotic money grabbers."

Yes, but then conservatives are even worse. Green party all the way!

@Zenassem - Sorry, i did not realise it was a joke. Ive met so many americans, who would say exactly that type of thing, but not joking.

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zenassem
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Posted: 23rd Oct 2008 20:47
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No problem General Reed!

"When I look at that square... I wish FPSC noobs would stay on their side of the forums and stop polluting these boards." - Benjamin
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Venge
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Posted: 23rd Oct 2008 20:56
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Wow...Did anyone else glance at that cat picture and think "THIS IS SPARTA!!!" ?

I have CDO. It's like OCD, but the letters are in alphabetical order, like they should be.
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mamaji4
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Some more analysis.
The DJIA is approaching a very major support level, so there might be a pullback from current levels, which will give the impression that the "bull" has returned. However, its not advisable to go long on retracements.
Also when checking for economic indicators, its best not to try to weigh too much on the fundamentals. The price discounts all fundamental factors, and is the true indicator of economic sentiment.
I have read previous posts where people give undue importance to political, social or other fundamental factors like the price of oil. Believe me none of these are the CAUSE of what happens in the market. The market is purely based on the cause of SUPPLY and DEMAND and if you look at any factors in isolation, you will surely be deceived as to the actual dierction of the market and therefore the economy as a whole.
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Alucard94
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Posted: 23rd Oct 2008 21:39
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Why does it seem as every time General Reed comes into a thread he makes it go awfully off-topic?

Anyways, if America is following Sweden's weird economical up and down times it should start about now.


Alucard94, the member of the future of the past.
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Cong
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Posted: 23rd Oct 2008 21:40
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you dont see the little men on the moon complaining so why should we?
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Satchmo
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Posted: 23rd Oct 2008 23:17
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Amurica is the future. You guys need to get out of your igloos and bear tents and come to the land of freedom.

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Yodaman Jer
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Posted: 23rd Oct 2008 23:25
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Quote: "And i think that if this country goes into a depression, It will stay like that for years, because people will go crazy and that wont help it, which will only make it last longer."



Well, if that's the case Mr. Minor, I'll just live in my little fall-out shelter. Come on, we got through the last one, we'll get through the next one. It's coming, but it won't be as bad as people say. And if it is, well then I'll be prepared.

Quote: "Im only 13"


DO NOT POST YOUR AGE!!!

Yodaman Jer

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Cong
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Posted: 23rd Oct 2008 23:26
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yes back to the mud huts
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General Reed
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Posted: 23rd Oct 2008 23:27
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Quote: "Amurica is the future. You guys need to get out of your igloos and bear tents and come to the land of freedom.
"

I assume that was a joke.

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