One example of irony:
On the same day the Dow Jones average surges nearly 400 points,
A London newspaper’s headline reads: “USA 2008: The Great Depression.”
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Rick, maybe the Great Depression is a story about the Democrat Party right now, and it’s projected outlook over the next 5 months.
1. Big
That would be sweet, since it might also mean the DJIA shoots over 15,000 - how about on Nov. 3?
Sky’s the limit as the dollar grows more worthless every day.
I heard about that on the radio coming home tonight. So we are in the Great Depression, wait let me call my 81 yr old dad so he can fill me in on how to handle the Great Depression.
If people think things are bad now, just elect either of the two Dimwits and you’ll really see what BAD is and can be!!!
Rastus, what happens to the world economy in the event of a general economic collapse in the USA? Would any world currency be worth anything? Would any country in the world even be safe to live in if the USA told them sorry, we can’t afford to come and protect you anymore?
Rastus, in the event of a general economic collapse in the USA, there would only be 4 currencies worth anything: Food, water, ammunition, and medicine.
Can’t say that I disagree with you Mr. Big. Might add gold to the list, but that’s about it. However, it might be better for all concerned to try to avoid an economic collapse, but given the Congress’ apparent willingness to gloss over all the obvious distress signals and to continue spending to buy votes, it may be inevitable. Just like Social Security - nobody wants to talk about it even though the facts are on the table for anyone to see. Don’t mind telling you I’m concerned for the future of this country as a viable entity and beacon of freedom for the world to envy.
The press are always talking down the economy. I wonder if we could use the kind of ‘Talk Radio’, input to ask the Country to be upbeat and positive. It could be in a similar way to the drive-bys choosing candidates etc. and getting their noses out of joint when Rush actually pulls a stunt re: Operation Chaos; which makes their efforts look paultry. Lets get all the Radio Guys to talk UP the economy. Surely the perception is part of the problem anyway.
Gold would be worthless. You can’t eat it, and it’s not much good for anything else if there is nothing to buy.
Well, if there’s nothing to buy, then guess we are doomed anyway - as a wise man once said, gotta have food, water, ammo, and medicine from some source. If I’ve got a little extra of something, I might be willing to trade it for something else that I want or need.
Start rationing the potatoes, the 401(k)’s only grew by 3% this month. It shouldn’t be any surprise that the media is in this ’sky is falling’ mentality about the economy just in time for the election - it worked to get Bill Clinton elected in ‘92.
I’m not sure which is more ironic, the Great Depression vs. 390 point rally comparison, or the fact that a European country is commenting on our rising unemployment rate (that is still less than 5%).
German Unemployment Drops to Lowest in 15 1/2 Years
France hits a 24 year low in unemployment
Spanish unemployment is rising.
Still, they’re all way above the US.
Germany - 7.8%
France - 7.5%
Spain - 9.0%
Raider, my point was the sky is not falling, and if it does, you are screwed without the four basics - but the rest of the world is screwed too. Without the USA, there is worldwide chaos.
However,the baby boomers are moving into their prime earnings years. They have nowhere to really put their money for retirement other than the market. The market will have ups and downs. The value of the dollar will have ups and downs.
BUT unless it is your intention to invest in those commodities I mentioned above, you have nowhere else to put your money from growth than the market/401Ks. My bet is that the economy will not collapse. We have low inflation, low interest rates, low unemployment, transparency in investments, and public scrutiny of the markets. Doesn’t sound like a formula for collapse to me. And if our dollar isn’t good overseas, it’s still good at home. If we can’t buy goods from overseas, it will force the manufacturing of good here. By the way, while most manufacturing of good made by American companies takes place in foreign countries, the American companies OWN THE DIES AND MOLDS. That’s right. We can take our dies and molds and come back here and make our goods. Then they’d have to make their own dies and molds to compete, and would have to infringe on the manufacturing rights. Also, the brain trusts that come up with the designs are right here in the USA.
Add to that, if we aren’t there to police the bad guys, what happens to manufacturing, trade, and the supply of raw materials in world trade? The world has a vested interest in seeing America healthy, even if they don’t like us. After all, they are heavily invested here too. But let me know when foreign companies start bailing out of the USA.
#13 Thanks Hamous, my point exactly.
#14 True, the falling dollar can lead to more sales for ‘Made in America’ products. It can also lead to greater exports if foreign countries don’t place heavy tariffs against us, but that isn’t the case. We should be negotiating better trade deals overseas that aren’t so lopsided and stacked against us.
#1 It’s been proven over and over and over that the market performs better under a dem president and than a republican pres. Nice try though.
16.
Really? Maybe you can answer these question: Which party occupied the White House when the DJIA set an all-time record high? Which party occupied the White House during the “feel good” economic times of the 1950s? Which party occupied the White House during the economic boom of the 1980s?
Here we go again Houston Dem. I keep having to explain this to you over and over:
Okay, let’s review Pres. Clinton’s successess. During the first two years of his administration, when they controlled the House, Senate, and WH, the DOW went up 600 points. When the GOP took over the House in 1995, they forced reductions in the rate of GROWTH (Not spending cuts), and the market went up 3,000 points in 2 years. Pres. Clinton signed off on this over the tremendous objections by Democrats in the House and Senate (remember how the GOP was going to starve Grandma and Grandpa the children?). Then the GOP also gained control of the Senate in 1997 and forced further reductions in the rate of GROWTH (NOT spending cuts), and the DOW went up another 3,000 points. This was also signed of on by Clinton, again over the screams of liberals. Sadly, the GOP lost the Senate in the next election, and many of the reductions in the rate of GROWTH in spending were stopped. Consequently the DOW lost 1,000 points and the NASDAQ lost half its value before Pres. Bush ever took office. So tell me, what did Clinton do to help the economy? Name the specific policies he instituted that achieved this great growth. What did the Dems do to cause this? Name them specifically? Other than the largest tax increase at that time in history (and retroactively on the dead), I can’t think of one thing Clinton and the Dems did to help, other than signing off on GOP policies.