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How Fucked is the US Economy?, by Filipino Box Spring Hog on Sept 15, 2008 17:03:31 GMT 1, Lehman Brothers declares bankruptcy! AIG is down 65% and falling, seeking a bailout, and Merrill Lynch has been sold to Bank of America Corp.
We're in for a rough ride over here .... and honestly nothing is safe....
on brighter news, the sun is shinning and global warming should help to keep down those winter heating bills 
Lehman Brothers declares bankruptcy! AIG is down 65% and falling, seeking a bailout, and Merrill Lynch has been sold to Bank of America Corp. We're in for a rough ride over here .... and honestly nothing is safe.... on brighter news, the sun is shinning and global warming should help to keep down those winter heating bills |
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How Fucked is the US Economy?, by mose on Sept 15, 2008 17:21:52 GMT 1, If this turn of events results in the US economy reorganizing into a pruduction economy, as opposed to a paper-shuffling shell game economy, than I really don't think things are that bad.....
Time and time again, the US economy has shown the ability to get itself in trouble by being stupid(greedy, lazy, too comfortable, etc.), adapt, and prosper. I don't think we are going to see anything different here.
If this turn of events results in the US economy reorganizing into a pruduction economy, as opposed to a paper-shuffling shell game economy, than I really don't think things are that bad.....
Time and time again, the US economy has shown the ability to get itself in trouble by being stupid(greedy, lazy, too comfortable, etc.), adapt, and prosper. I don't think we are going to see anything different here.
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How Fucked is the US Economy?, by dh on Sept 15, 2008 17:27:47 GMT 1, Lower oil, gas and electric prices will be a the good thing to come out of this.
Lower oil, gas and electric prices will be a the good thing to come out of this.
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lee3
New Member
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November 2009
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How Fucked is the US Economy?, by lee3 on Sept 15, 2008 17:30:29 GMT 1, >>> and honestly nothing is safe....<<<
Cash is safe. And anyone that thinks this is only a US problem is kidding themselves.
>>> and honestly nothing is safe....<<<
Cash is safe. And anyone that thinks this is only a US problem is kidding themselves.
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funster
Junior Member
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October 2006
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How Fucked is the US Economy?, by funster on Sept 15, 2008 17:35:53 GMT 1, Mmm, this will be an interesting thread. There are so many micro and macro economic variables that have played into the situation that we currently face it would be a) impossible and b) foolish to try and make a fair and leveled assessment of what's going on using such a forum. I could however give a full assessment, but it would be boring.
Mmm, this will be an interesting thread. There are so many micro and macro economic variables that have played into the situation that we currently face it would be a) impossible and b) foolish to try and make a fair and leveled assessment of what's going on using such a forum. I could however give a full assessment, but it would be boring.
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funster
Junior Member
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October 2006
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How Fucked is the US Economy?, by funster on Sept 15, 2008 17:36:56 GMT 1, >>> and honestly nothing is safe....<<< Cash is safe. And anyone that thinks this is only a US problem is kidding themselves.
Even cash isn't immune from inflation risks, ask people in Zimbabwe.
>>> and honestly nothing is safe....<<< Cash is safe. And anyone that thinks this is only a US problem is kidding themselves. Even cash isn't immune from inflation risks, ask people in Zimbabwe. |
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bmjt
New Member
Posts โข 908
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April 2008
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How Fucked is the US Economy?, by bmjt on Sept 15, 2008 17:37:00 GMT 1, If, for the sake of argument, all the banks were to go tits-up, or at least the ones who could ( if they exist) Fight-club style, what would happen?
If, for the sake of argument, all the banks were to go tits-up, or at least the ones who could ( if they exist) Fight-club style, what would happen?
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How Fucked is the US Economy?, by Filipino Box Spring Hog on Sept 15, 2008 17:37:22 GMT 1, Lee, I consider you to be a wise person from the little I know of you based on your posts here.
I agree with you that the US needs to go back to a production based economy, but, the companies here need to stop farming out their work overseas...it's killing us.
I hope cash is safe.....cos' I've got $10 bucks left in my pocket I'm holding for an emergency.
Lee, I consider you to be a wise person from the little I know of you based on your posts here.
I agree with you that the US needs to go back to a production based economy, but, the companies here need to stop farming out their work overseas...it's killing us.
I hope cash is safe.....cos' I've got $10 bucks left in my pocket I'm holding for an emergency.
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RBK
Junior Member
Posts โข 2,924
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Member is Online
September 2006
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How Fucked is the US Economy?, by RBK on Sept 15, 2008 17:37:42 GMT 1, MER being bought by BAC is actually a very good thing.
The others...... DOH!
MER being bought by BAC is actually a very good thing.
The others...... DOH!
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How Fucked is the US Economy?, by giiiant on Sept 15, 2008 17:41:57 GMT 1, wonder how bad the economy would be if people hadn't kept going on about how bad the economy is
wonder how bad the economy would be if people hadn't kept going on about how bad the economy is
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funster
Junior Member
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October 2006
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How Fucked is the US Economy?, by funster on Sept 15, 2008 17:43:22 GMT 1, If, for the sake of argument, all the banks were to go tits-up, or at least the ones who could ( if they exist) Fight-club style, what would happen?
Depending on which country you live in there are various safe guards. I would be very, very surprised though if we were to see a situation that put every day peoples bank account money at risk though. The media thrive on gloomy news, it's worth looking at what's behind everything though 
If, for the sake of argument, all the banks were to go tits-up, or at least the ones who could ( if they exist) Fight-club style, what would happen? Depending on which country you live in there are various safe guards. I would be very, very surprised though if we were to see a situation that put every day peoples bank account money at risk though. The media thrive on gloomy news, it's worth looking at what's behind everything though |
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How Fucked is the US Economy?, by manchestermike on Sept 15, 2008 17:43:57 GMT 1, AIG going... can't say I'm sorry... hope the rest pull through though ;D ;D
AIG going... can't say I'm sorry... hope the rest pull through though ;D ;D
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jam
Junior Member
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November 2006
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How Fucked is the US Economy?, by jam on Sept 15, 2008 17:46:38 GMT 1, MER being bought by BAC is actually a very good thing.
Agree 100%. People miss the big picture with this deal, but I strongly believe it will prove to be a brilliant purchase on BAC's part.
As for the rest, things aren't as bad as people believe. I think there is a bit of hysteria going on because the majority of people that hear the news from Wall St do not understand economics and just buy into the doom and gloom reporters trying to sell commercial spots. Greed and "creating wealth without any perceivable increase in value" has a way of coming full circle... frankly I am surprised it lasted this long. The positive thing is that the US economy is resilient and will use this trying time to sort the wheat from the chaff in our finance markets.
MER being bought by BAC is actually a very good thing. Agree 100%. People miss the big picture with this deal, but I strongly believe it will prove to be a brilliant purchase on BAC's part. As for the rest, things aren't as bad as people believe. I think there is a bit of hysteria going on because the majority of people that hear the news from Wall St do not understand economics and just buy into the doom and gloom reporters trying to sell commercial spots. Greed and "creating wealth without any perceivable increase in value" has a way of coming full circle... frankly I am surprised it lasted this long. The positive thing is that the US economy is resilient and will use this trying time to sort the wheat from the chaff in our finance markets. |
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How Fucked is the US Economy?, by Filipino Box Spring Hog on Sept 15, 2008 17:50:51 GMT 1, There are 167 homes in Rumson, NJ in forclosure - this is the richest part of NJ which is a state full of tremendous wealth! That # is before the breaking news today....
I agree that psychology shakes, moves and has the potnential to break down the economy more so than any company going under....and the media loves to spread the hype.....folks need to keep their chins up and start making smarter decisions.
There are 167 homes in Rumson, NJ in forclosure - this is the richest part of NJ which is a state full of tremendous wealth! That # is before the breaking news today....
I agree that psychology shakes, moves and has the potnential to break down the economy more so than any company going under....and the media loves to spread the hype.....folks need to keep their chins up and start making smarter decisions.
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funster
Junior Member
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October 2006
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How Fucked is the US Economy?, by funster on Sept 15, 2008 17:57:40 GMT 1, AIG going... can't say I'm sorry... hope the rest pull through though ;D ;D
IMO it's disatrous, even though they're a terrible company to deal with. The fallout from the fall in consumer/investor confidence is serious for all involved.
AIG going... can't say I'm sorry... hope the rest pull through though ;D ;D IMO it's disatrous, even though they're a terrible company to deal with. The fallout from the fall in consumer/investor confidence is serious for all involved. |
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funster
Junior Member
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October 2006
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How Fucked is the US Economy?, by funster on Sept 15, 2008 18:02:05 GMT 1, And just to qualify my remark, I don't really care about 'normal' investors so much, you have to roll with the punches and understand what you're getting into. However, I really don't think a lot of people realise they're investors when they are - take pension funds as an example, especially for people approaching retirement. These are the people that are amongst the most seriously affected by the current happenings.
And just to qualify my remark, I don't really care about 'normal' investors so much, you have to roll with the punches and understand what you're getting into. However, I really don't think a lot of people realise they're investors when they are - take pension funds as an example, especially for people approaching retirement. These are the people that are amongst the most seriously affected by the current happenings.
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eddiedangerous
Junior Member
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October 2007
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How Fucked is the US Economy?, by eddiedangerous on Sept 15, 2008 18:03:35 GMT 1, AIG going... can't say I'm sorry... hope the rest pull through though ;D ;D
another shirt sponsor bites the dust, not more black tape!!!
AIG going... can't say I'm sorry... hope the rest pull through though ;D ;D another shirt sponsor bites the dust, not more black tape!!! |
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funster
Junior Member
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October 2006
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How Fucked is the US Economy?, by funster on Sept 15, 2008 18:05:06 GMT 1, AIG going... can't say I'm sorry... hope the rest pull through though ;D ;D
Only just worked out your reasoning ;D
AIG going... can't say I'm sorry... hope the rest pull through though ;D ;D Only just worked out your reasoning ;D |
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brun
New Member
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December 2007
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How Fucked is the US Economy?, by brun on Sept 15, 2008 18:15:40 GMT 1, lucky i have no investments but a awful pension and some worthless art .........its a sad day to see the rich suffering . they show so much concern for others when they are not ! running us over in their cayennes !
yes no doubt we will suffer too , we are made to suffer by the banks who lend out the money in the first place to fools who think they can live like john paul getty .......
WHU MAN U who next ? never liked that 888.com ..........
lucky i have no investments but a awful pension and some worthless art .........its a sad day to see the rich suffering . they show so much concern for others when they are not ! running us over in their cayennes !
yes no doubt we will suffer too , we are made to suffer by the banks who lend out the money in the first place to fools who think they can live like john paul getty .......
WHU MAN U who next ? never liked that 888.com ..........
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brun
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December 2007
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How Fucked is the US Economy?, by brun on Sept 15, 2008 18:17:03 GMT 1, ps dave how will lower oil and gas come out of this ? will george invade iran ?
ps dave how will lower oil and gas come out of this ? will george invade iran ?
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How Fucked is the US Economy?, by veralynn on Sept 15, 2008 19:13:31 GMT 1, If, for the sake of argument, all the banks were to go tits-up, or at least the ones who could ( if they exist) Fight-club style, what would happen?
Perhaps you'd get 'micro economies' emerging, such as the one that the people of Lewes, Sussex have started as advertised on the BBC this morning. Even though such systems are unlawful as they exist outside of the taxation statute of this country.
Profitable business that fails due to circumstance outside its control is a disaster and you have to feel for the 'people' affected here, they're not all on ยฃ200K a year, there's back office staff, cleaners, security, the whole shooting match. For those that are, hope you've saved up enough to ride the storm and I hear that headhunters have more candidates than last year already.....
If, for the sake of argument, all the banks were to go tits-up, or at least the ones who could ( if they exist) Fight-club style, what would happen? Perhaps you'd get 'micro economies' emerging, such as the one that the people of Lewes, Sussex have started as advertised on the BBC this morning. Even though such systems are unlawful as they exist outside of the taxation statute of this country. Profitable business that fails due to circumstance outside its control is a disaster and you have to feel for the 'people' affected here, they're not all on ยฃ200K a year, there's back office staff, cleaners, security, the whole shooting match. For those that are, hope you've saved up enough to ride the storm and I hear that headhunters have more candidates than last year already..... |
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How Fucked is the US Economy?, by Filipino Box Spring Hog on Sept 15, 2008 19:16:53 GMT 1, I have a friend who is a headhunter - his business is booming!
I have a friend who is a headhunter - his business is booming!
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How Fucked is the US Economy?, by dh on Sept 15, 2008 19:45:43 GMT 1, ps dave how will lower oil and gas come out of this ? will george invade iran ?
US Crude fell below $100 on this news, concerns over a slowing world economy mean less demand so lower prices.
ps dave how will lower oil and gas come out of this ? will george invade iran ? US Crude fell below $100 on this news, concerns over a slowing world economy mean less demand so lower prices. |
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chappkp
New Member
Posts โข 170
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May 2006
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How Fucked is the US Economy?, by chappkp on Sept 15, 2008 21:27:25 GMT 1, Lehman Brothers declares bankruptcy! AIG is down 65% and falling, seeking a bailout, and Merrill Lynch has been sold to Bank of America Corp.
My 403B is through AIG. am I gonna be Fuct?
Lehman Brothers declares bankruptcy! AIG is down 65% and falling, seeking a bailout, and Merrill Lynch has been sold to Bank of America Corp. My 403B is through AIG. am I gonna be Fuct? |
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Francis
Junior Member
Posts โข 2,571
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September 2007
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How Fucked is the US Economy?, by Francis on Sept 15, 2008 21:59:30 GMT 1, Where will all the douchebags go now that they can't work at investment banks?
Where will all the douchebags go now that they can't work at investment banks?
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funster
Junior Member
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October 2006
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How Fucked is the US Economy?, by funster on Sept 15, 2008 22:01:06 GMT 1, Where will all the douchebags go now that they can't work at investment banks?
Tesco's.
Where will all the douchebags go now that they can't work at investment banks? Tesco's. |
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How Fucked is the US Economy?, by mose on Sept 15, 2008 22:02:41 GMT 1, Where will all the douchebags go now that they can't work at investment banks?
Many will collect unemployment, sit for a while once unemployment runs out, and then go alternate-route and become teachers.
I've seen several cycles of it already.
Where will all the douchebags go now that they can't work at investment banks? Many will collect unemployment, sit for a while once unemployment runs out, and then go alternate-route and become teachers. I've seen several cycles of it already. |
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How Fucked is the US Economy?, by sahoria on Sept 15, 2008 22:10:54 GMT 1, other economies/rich families/businesses couldnt see the us economy collapse.... even though really difficult times right now they are still the only remaining super power... (not from usa by the way). obviously there is china and india which are growing and russia re-establishing itself as the dormant super power but no matter how some will say on its last legs to much money in the world is attached to the dollar so no doomsday scenario will happen...
market correction will and is occuring but i dont see them changing how the fundermentals of there economy is set up... there will be talk of it but dont think will get done.... then next thing you know will be in new cycle and there will be money to throw around again and people will remind everyone else what happened now but everyone will get carried away again...people that have lost jobs recently through banks going bust feel sorry for as like someone stated here they are not all on 200k a year... some i doubt pick up past 45k...s
other economies/rich families/businesses couldnt see the us economy collapse.... even though really difficult times right now they are still the only remaining super power... (not from usa by the way). obviously there is china and india which are growing and russia re-establishing itself as the dormant super power but no matter how some will say on its last legs to much money in the world is attached to the dollar so no doomsday scenario will happen...
market correction will and is occuring but i dont see them changing how the fundermentals of there economy is set up... there will be talk of it but dont think will get done.... then next thing you know will be in new cycle and there will be money to throw around again and people will remind everyone else what happened now but everyone will get carried away again...people that have lost jobs recently through banks going bust feel sorry for as like someone stated here they are not all on 200k a year... some i doubt pick up past 45k...s
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Pure Evil
Artist
Junior Member
Posts โข 1,338
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December 2006
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How Fucked is the US Economy?, by Pure Evil on Sept 15, 2008 22:39:58 GMT 1, Where will all the douchebags go now that they can't work at investment banks?
They are all going to open up street art galleries.. its a better investment
Where will all the douchebags go now that they can't work at investment banks? They are all going to open up street art galleries.. its a better investment |
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Billy Sport
Junior Member
Posts โข 1,252
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February 2008
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How Fucked is the US Economy?, by Billy Sport on Sept 15, 2008 23:15:30 GMT 1, Where will all the douchebags go now that they can't work at investment banks?
my wife works for them,
Not everyone who lost their jobs today were rich douchebags
there's a lot of "little people" in organisations like this and its us/them who take a huge hit. this will have a massive knock on effect, money lending criteria will tighten, more industries will suffer and the economy will slide closer to a recession. Still at least its good for a joke eh?
Where will all the douchebags go now that they can't work at investment banks? my wife works for them, Not everyone who lost their jobs today were rich douchebags there's a lot of "little people" in organisations like this and its us/them who take a huge hit. this will have a massive knock on effect, money lending criteria will tighten, more industries will suffer and the economy will slide closer to a recession. Still at least its good for a joke eh? |
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