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View Poll Results: I think the US economy is...

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  • Going strong. (I've been living in a cave the last few months)

    0 0%
  • Just going through a slow down.

    5 21.74%
  • Is in a recession.

    13 56.52%
  • Is heading toward collapse/depression.

    4 17.39%
  • It's the end! Run to Canada or Mexico while you can!

    1 4.35%
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Results 11 to 20 of 25

  1. #11
    only bites when provoked
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    cafe: That's inflation. The fed is steering us toward a crash, but will probably keep it to a mere depression.

    Even my company seems to have slower sales than usual, and we keep laying people off, so there must be something going on. I have a friend (one of my very few in person) that got laid off from his company a couple months ago and he hasn't found any interest from any employers yet.

    Crashing house prices will cause people that bought after the mid-late 90s to see a numerical loss, not even counting inflation. This will ripple through the economy, which has been propped up by debt for the last decade or more. Due to the low risk, they're happy to just walk away, so it's going down faster than anyone could have expected.

    The market is vibrating, up steep, down steep... It shows extreme uncertainty.

    All the government and the fed has done is make the situation worse. The only fix for this is raising interest rates to the high levels seen in the 80s. It'll cause a rash of collapses among shaky banks that shouldn't be alive anymore, kill the ARM idiots, interest-only idiots, etc. There's a lot of that to shake out in the next 5 years or so. It'll happen anyway, but this corrects the problems faster. The bitter pill we need to fix it.
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    Disclaimer: The above is my opinion and mine alone, it does not mean I cannot change my mind, nor does it guarantee that my comments are related to any deep-seated convictions. Take everything I say with a whole snowplow worth of salt and call me in the morning, if you can.

  2. #12
    Senior Member cafe's Avatar
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    The increase in food and fuel is tied to high oil prices, Wolf. Is that the same as inflation?
    “There are two novels that can change a bookish fourteen-year old’s life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.”
    ~ John Rogers

  3. #13
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    High oil prices are related to a long chain that comes from inflation, yes. It's only slightly related to the obvious - our currency devaluation due to the perpetual printing they're authorizing in DC - because most of our suppliers are more-or-less pegged to the dollar. Since inflation is running faster than most things can keep up with, the market is bidding up energy/gold/oil, which is one of the things pushing the price up, along with others consuming it like we are, which also bids the price up. It's a rather finite commodity and nobody is investing in new production infrastructure.
    I 100%, N 88%, T 88%, J 75%

    Disclaimer: The above is my opinion and mine alone, it does not mean I cannot change my mind, nor does it guarantee that my comments are related to any deep-seated convictions. Take everything I say with a whole snowplow worth of salt and call me in the morning, if you can.

  4. #14
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    JMHO but we haven't seen the worst yet. The oil crisis will hit... no it hasn't yet. Countries not historically using so much oil are making higher demands for it with their growing economies... ie: China were autos are becoming increasingly popular. Those growing oil prices are affecting every area of our economy and its going to get worse.

    All of our bills have gone up and I'm not just talking about food although that jump has been significant. The satellite, waste, electricity, gas heat, phone (house and cell), storage, pest control, etc. have all gone up and the companies blame it on oil prices. Its unclear how much of that is capitalizing on the notoriety of the oil situation but the bottom line is they've gone up. With less money to spend on items we would otherwise spend it on, it can be seen there is a "domino" effect. This is only the tip of the ice berg and pretty scarey.

  5. #15
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    Quote Originally Posted by Seanan View Post
    JMHO but we haven't seen the worst yet. The oil crisis will hit... no it hasn't yet.
    So true. This is going to get a lot worse before it gets better.
    I 100%, N 88%, T 88%, J 75%

    Disclaimer: The above is my opinion and mine alone, it does not mean I cannot change my mind, nor does it guarantee that my comments are related to any deep-seated convictions. Take everything I say with a whole snowplow worth of salt and call me in the morning, if you can.

  6. #16
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    I think we're headed to a depression, because of the inflation/devaluation and dependency on oil.

    People complain that prices go up faster than wages as if it were reasonable to raise wages to fix this. In reality, if they increased wages, they'd just inflate the prices of goods according to the amount the wages increased in order to make the same profit. So it's not as helpful as people think.

    I'm sure the nation will survive, but in a pretty lousy state. People will most likely be reduced to subsistence living, dependent on government regulation to maintain order. There won't be room for any frivolity, personal expression, or even education. The government will still have computers and such, I'm sure... but electricity and other technologies will become commodities that only the government and extremely wealthy can afford (much as they were when they were first introduced). There won't be an Internet like the one we have.

    I'm mainly worried about being expected to live in primitive conditions without the technology which I've bothered to learn so much about. I mean, I've spent all this time learning about the Internet, and now there might not even be one? In fact, I'll probably be lucky if I can still find books to read. Idiots will probably burn them for heat. I could care less what kind of food I have to live on, as long as it isn't harmful and keeps me alive. I might starve for days to buy a book or something if I had to, but it wouldn't even matter because no one would be there to make them.

    Such a depressing idea... I hope I die before we start feeling the effects of this. Maybe I'll get lucky and be struck by lightning. At least I would get to die in the presence of electricity, then.

    So, is it the end? For people like me, we'll be wishing it was. ESxx's will probably be okay.

  7. #17
    Senior Member cafe's Avatar
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    I think that executives oughtn't to receive pay increases and possibly take pay cuts until they have adjusted their employees' wages for the cost of living. Then they could do it without having to raise prices a lot.
    “There are two novels that can change a bookish fourteen-year old’s life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.”
    ~ John Rogers

  8. #18
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    When I think about it, I get terrified. I'm sure it's going to get a lot worse before it gets better. Maybe we're going to entirely collapse like the Roman Empire and others before us.

  9. #19
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    Clear-cut recession, more sanguine about the long-term prospects for the economy. I am actually going to be getting into the stock market later this year, once it calms down a bit and I have the extra cash. The stock market has never been down for a 10-year period. However, the Fed really needs to strike a careful balance with interest rates, as inflation is always ready to start accelerating whenever there are rate cuts. In the long-term, new investment regulations will be necessary to prevent crises such as the subprime mortgage debacle, Americans will need to learn to actually SAVE MONEY, and the government will need to cut both revenue and spending while not printing so much damn money. I am far more concerned about the rapidly approaching retirement of the Baby Boomers and the ensuing explosion of spending on Medicare and Social Security (which are already 1/3rd of the federal government's budget). Without reform, that could be disastrous.
    Who wants to try a bottle of merc's "Extroversion Olive Oil?"

  10. #20
    Glowy Goopy Goodness The_Liquid_Laser's Avatar
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    Recession + stagflation
    My wife and I made a game to teach kids about nutrition. Please try our game and vote for us to win. (Voting period: July 14 - August 14)
    http://www.revoltingvegetables.com

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