anybody else hear them announce that this morning on the news?
The Great Depression #2
anybody else hear them announce that this morning on the news?
Last edited by §treet_§peed; 01-08-2008 at 02:03 PM.
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Far from it, trust me. The great depression was global.. not just a housing market in the U.S falling apart.
Unless it was on FoxNews I didn't see it.
well heard about it form and friend and somehting about it real quick on the radio as i was getting out of the car. anyways it was somethig about America has only 2 more things to try and if they don't work we will be going into a recession...
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Was it in regards to the trouble on the stock market or real estate issues?
Because tony mentioned real estate, but you didn't say that.
The real estate fall isn't affecting the whole US, just different parts. NY has not seen one lick of housing issues, and is in a boom.
The real estate problem couldn't cause another depression, and people are too wealthy to let gas prices cause one either.
I'm not knocking your thread, just kinda thinkin aloud.
^ i got you and i'm not angry i was just wondering if anybody had heard anything about it. thats the whole reason i made this thread to see if anyone else had heard anything about it this morning
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i don't see how because up until this past week unemployment was around 4% the lowest it has been the stock market was growing and the hosuing thing is only effecting certian area's and certian price ranges in homes.
Epic Foxbody Thread Crew Member #10Originally Posted by Alan®
ahaha right, great derpression #2
Wii's sales are at an all time high, why we all sit in bread lines.
Its just a bodykit
Yeah I'm curiuos about it too, I was just going through the list of things in the news lately.
I'm not much into the stock market, so unless someone says something, like happened with you, or it's front page news, I'm not likely to even think about it.
But now with this thread I'm gonna do some research.
eh hell we know our "Leaders" are runing this country into the ground
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Meh, no matter who runs things in the US they are politicians.
Politicians are greedy and liars. It's just that.
So it's hard to imagine an average joe running a country and sympathizing with the common man.
A short lesson on the Economy here: The U.S economy works in cycles, there are times of great economic growth .. this is referred to as economic expansion. Economic expansion includes the recovery from a recession and peak economic activity. A recession in our economy is perfectly normal, all it is.. is the market correcting itself after it has reached its peak. (Recession in economic terms is defined as a reduction in Economic Activity) The recession is actually a very important part of the process since it typically regulates economic activity.. it is nothing to worry about.
Here is a graph of the Gross Domestic Product of the United States dating back to 1929. You get a good idea of how serious the Great Depression was in terms of any other recession we have had. Every time that black dotted line is headed downward that is an Economic Recession.. notice how common it is and that typically the Economy recovers and heads upward (Economic Expansion)
Notice how far down the black dotted line goes below zero after 1929.. that was the Great Depression so visually you get a good idea of how serious it was and how far from a great depression we are as of right now. I hope this helps make things a little more clear.
^good **** i was going to post something simpler than this but either way reps for your knowledge
Epic Foxbody Thread Crew Member #10
hmmm google?
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Haven't we been in a recession for a while now anyways?
^ thats what i thought but they said **** was about to really hit the fan if these last two things didn't help
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As shown by the graph recessions can last for years.
Learning everyday.
if i recall correctly we were in a recession until clinton came into office back in the early 90's and then when got out of it with his help, once the big eared dumbass got into office we started goin back into one especially after the war and attacks
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lol we need to put Clinton back in!!!!!!
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The economy prospered under Clinton purely because of George W. Bush senior and Reagan. He did NOTHING to deserve any credit.
THe economy is fine, the housing market is tanking but thats only because of the BANKS lending people money that were not QUALIFIED IN THE FIRST PLACE. so people got rich and now its coming to bite them in the ass.
once it corrects itself itll be back to normal.
Educate yourself guys, did you know that it takes an AVERAGE of 3 years when a law is passed to see its effects?
READ PEOPLE, EDUCATE YOURSELF ON THE ISSUES DONT JUST BELIEVE THE MEDIA
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HAHAHAH who thinks great depression is gonna hit?
Are you serious? We need more then just failing housing market and war spending.
Actually I wrote that off the top of my head (Economics is a special interest of mine) and a graph showing Gross Domestic Product is not hard to find so no.. not google.
The dot com boom was a big help in economic expansion during the Clinton years, that kind of innovation will make any president look good but we saw the end result.
dot com looked like girls gone wild but with added bonus at the end: Old ladies swinging their massive droppy tits and having lesbian sex. Everyone freaked and wanted to die.
By the way the immediate future is bleak, a good portion of sub prime mortgages due to reset were obtained in 2005.. not until now are we feeling the effects of that and Bush approving a plan that freezes interest rates only prolongs the process.
There is hope, with the fall of the dollar it does not make sense for companies to outsource like before.. this brings jobs back to the United States tackling the problem of unemployment.. more US citizens in the workforce will help stablize the economy and make a turn for recovery.
just because your dumb ass cant get a job dose not mean we are in a depression...you have no skills.
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Your scamming the social security and everyone else so GTFO of this thread old man in his C5 Corvette.
lol blow me tim. when did i say me not having a job has anything what so ever to do with this? i just simple said i heard something about it and i was wondering if anyone else had heard anything about it and yeah i do have skills. just not college.. and btw i do have a job, just a not a very good one right now.. also when are you gonna give me a ride in the vette?just because your dumb ass cant get a job dose not mean we are in a depression...you have no skills.
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LOL!!!!! @ Faux
HAHAHAHAH. i know right.
The Carbon Fibered R6
Just to clear things up on the Real Estate end(considering I'm in Real Estate)
The RESIDENTIAL market is low in area's but is making a turn around.The Commercial and Agricultural market on the other hand is just fine. Its not going to affect the entire country. And the Godfather is right, NY and other major area's seem to be okay, right now its just the southeast and parts of the mid-west.
and Mr.Kidd is also Correct when It comes to the comment on Clinton. Reagan turned this country around in the 80's. Because the Country was in all kinds of debt and the dollar was very weak after the 70's.
Great housing depression dammit.... im gonna have to stand in the breadline if this **** dont pickup
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^ and coffee and ciggarette lines too huh
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NY is ranked 9th in foreclosures in the country.. California being #2 and if I remember correctly Florida is #1.. Texas in the top ten as well, i think those are the major markets.
where does good ol GA stand?
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Had to look again, GA is #6
True, but what people don't take into account is the higher end sales, which make up for the amount of foreclosures. Considering you named some of the biggest states(more populated) in the country those numbers sound right.
The stock market was rising because of Inflation. Ironically, the housing market going down has put a big stop on Inflation. This means that we have entered a period of economic stability, which is BAD FOR THE NEWS. So, instead they must create a mass panic about how this has become a great depression, so they recieve viewership, who would otherwise not watch the mindless drivel coming from their newsrooms.
EARTH to the people of America. WHERE have you been. you think the real estate market being in the toilet ONLY affects the sale of homes? if you think that then you need to wake up. 450,000 homes are expected to go into foreclosure EVERY 3 months this year!! compared to last year thats 3-4x more houses in foreclosure. the real estate market is what drives the economy. if people dont have a house, they wont buy anything else which makes the other businesses suffer and end up going bankrupt. its happening as we speak, just open your eyes and your narrow mind a bit.
i did a research paper on it and im not making this up.
THE GREAT DEPRESSION was caused by the stock market collapsing, which was, yes, somewhat global. Countries are pulling their reserves in the dollar and going to the Euro which, if you didnt know is stable and increasing in value tremendously. when the Euro was first introduced the exchange rate was like $1.10 or something. now its $1.46( just checked). the value of our dollar is dropping, the cost of living is rising, we are TRILLLLLIONS of dollars in debt, and we have this never ending black hole of money called Iraq, that isnt going away.
I wouldnt be surprised a bit if there was another depression. And im expecting some form of a recession.
open your eyes people.....
EF SQUAD FTMFW!!!!
greed is what is causing all of the problems we are facing
the media is BS
EF SQUAD FTMFW!!!!
hmmmmm
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