Another Great Depression?
in Political Discussion
scott.mPosted at 07/11/2008 08:02PM Location:
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Another Great Depression?
There's been some talk of this for a while in the news and financial circles, but it feels especially relevant after the collapse of Fannie Mae and Freddie Mac earlier this week. What do you guys think? Personally, I'm thinking about learning how to farm.
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jamoncitoPosted at 07/11/2008 08:14PM Age: 23
Location:
Los Angeles |
The farmers didn't do any better during the great depression. No one bought their crops.
And just what land would you be farming anyway with all of the ultra subsidized mega farms of this common era. Our economy is in a dip. It's happened before. It will happen again. People throwing out speculation is what throws economies further into a downfall... not take us out of it. |
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scott.m Posted at 07/11/2008 08:27PM Location:
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Well, I meant that I'd learn how to farm so, if the worst happens, I could hitchhike to a fertile piece of out-of-the-way land and produce my own food. Live off the land and all that. And it was intended as a joke, but whatever.
I realize that our economic state is based mainly on the people's perception of it, but right now there are other problems at work, like a fabricated trillion dollar war against an idea that consumed enough of our country's resources to make our shifty mega-banks feel it necessary to try to cover it up by handing out cheap credit to anyone with a pulse. Remember, ignoring the presence of a problem won't help things, either. The way to resolution is obviously by reacting calmly and rationally and trying to fix things together, rather than rushing to pull our funds out of banks in unison. Unfortunately, the human race is seldom calm and rational. |
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scott.m Posted at 07/11/2008 08:37PM Location:
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Actually, the idea that economics are based on perception might just be the bright side to our manipulative news media. If they can keep a lid on this shit and make the general populace think everything is just fine and dandy, we shouldn't have a problem scraping through!
EDIT: On the flip side, they do love sensationalizing news to get ratings, so maybe they'll make such a huge deal out of it that a jaded populace will cast of their shackles in disbelief and learn to think for themselves. It's win win! Hey, I can dream. |
babarm87Posted at 07/11/2008 09:17PM Location:
Los Angeles |
unemployment was like 33% during the depression. i think people buy too much pointless crap these days for the unemployment to raise that high. because someone has to make all that crap!
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scott.m Posted at 07/11/2008 09:19PM Location:
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Too bad none of them live in this country, eh? |
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babarm87 Posted at 07/11/2008 09:20PM Location:
Los Angeles |
touche
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babarm87 Posted at 07/11/2008 09:23PM Location:
Los Angeles |
worst comes to worst, inflation rises and everyone joins the tourism industry.
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scott.m Posted at 07/11/2008 09:33PM Location:
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I could become a beer smuggler! Because I imagine that along with another depression, we'd have to endure prohibition again too. They both happened around the late 1600s, right? Coincidence? I think not.
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Mike DuchnowskyPosted at 07/11/2008 11:22PM Age: 27
Location:
West Haven, CT |
2012.
The Cityscape Burns Brighter By The Hour. |
NiCK JAMESPosted at 07/11/2008 11:30PM Age: 20
Location:
Lakewood, OH |
S'called a hippie commune brother. And I'm all for it. |
JohnnyLPosted at 07/16/2008 05:18AM Age: 30
Location:
Columbus, Ohio |
I really don't think there's any connection between the war in iraq and the banks giving out silly loans. Also, lets not just blame the banks. There were millions of people out there who were too ignorant to realize that their payments weren't always going to be low. If people would live within their means, we'd be fine. Recommending: Anberlin, Interpol, Chamberlain, House of Heroes |
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MariusDaFunk Posted at 07/16/2008 05:24AM Age: 25
Location:
Berlin, Germany |
Good to hear this thread's only about the economical situation in the Us. I first assumed Blindside would be putting out a part II.
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AenimaniacPosted at 07/16/2008 06:55AM Location:
East Lansing, MI |
As a red blooded American I refuse to do so. Investing wise I just keep telling myself I'm buying stock on sale right now, and pumping up my international a bit. And if it keeps getting worse, start buying Vice stocks, bad economy, good alcohol and gambling sales. |
Rick GebhardtPosted at 07/16/2008 07:17AM Age: 30
Location:
Minnesota |
I hate looking at my portfolio b/c it's in such a state of disarray, but at least my 401K and IRA will be enjoying all the cheap buying.
Personally, I really hope this situation makes the majority of US citizens examine their own personal fiscal policy. From what I see, both in reading financial analysis and looking at those around me, no one knows 2 shits about how to handle their money responsibly. It's pretty fucking sad if you ask me. With our gigantic negative savings rate, it was only inevitable that any economic downturn would exacerbate the "living on credit" problem. And the worst part about all of this... all the dumbfucks who bought houses outside their means will weasel out of any long term effects or get help from our gov't while all of the responsible people who do know how to manage money are punished for being responsible. It's a travesty, really, in that we reward bad behavior, which only reinforces it. Find me EVERYWHERE: |
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scott.m Posted at 08/18/2008 08:56AM Location:
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Whoa! Didn't realize that people had continued commenting on this. Rather than trying to argue/agree with all of you, I'll just say that of course economics are extraordinarily complex, and they're affected by everything going on in our culture and throughout the world. There's no singular cause.
Well, except the potency of idiots in large groups (including Bush ;)), but then, that's the cause of most of the world's problems. |
