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2
Joined: 07 Sep 2007
Posts: 151
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| Posted: Fri Jul 11, 2008 9:22 pm Post subject: Is the USA bankrupt? |
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| Some think we are in the middle of an economic collapse that will surpass the Great Depression. |
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BigDiesel
Joined: 01 Apr 2007
Posts: 1203
Location: Space... The Final Frontier
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| Posted: Fri Jul 11, 2008 10:36 pm Post subject: Re: Is the USA bankrupt? |
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2 wrote: Some think we are in the middle of an economic collapse that will surpass the Great Depression.
You must be listening to the Truckin' Bobo..... :lol: |
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ben45750
Joined: 23 Apr 2005
Posts: 1759
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| Posted: Sat Jul 12, 2008 7:04 am Post subject: |
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| They tried to re-create Woodstock, it just wasn't the same 30 years later. I doubt we will ever see a depression like they did in 29. |
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Windwalker
Joined: 22 Oct 2005
Posts: 3098
Location: Holiday, FL
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| Posted: Sat Jul 12, 2008 7:07 am Post subject: |
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ben45750 wrote: They tried to re-create Woodstock, it just wasn't the same 30 years later. I doubt we will ever see a depression like they did in 29.
I'm not so sure about that. We can not keep spending $20 Trillion a year on foreign oil without running out of money at some point.
( I can't be out of money... I've still got checks left in my checkbook...)
:lol: :lol: :lol: |
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DaveP
Joined: 03 Mar 2007
Posts: 350
Location: "The Shoals", Alabama
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| Posted: Sat Jul 12, 2008 10:25 am Post subject: |
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Windwalker wrote: ben45750 wrote: They tried to re-create Woodstock, it just wasn't the same 30 years later. I doubt we will ever see a depression like they did in 29.
I'm not so sure about that. We can not keep spending $20 Trillion a year on foreign oil without running out of money at some point.
( I can't be out of money... I've still got checks left in my checkbook...)
:lol: :lol: :lol:
We're not creating true "wealth"...
We just keep printing more paper. Instead of "In God We Trust" they may as well replace it with I.O.U.
Somewhere along the line somebodies gotta pay...and pay BIG! |
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2
Joined: 07 Sep 2007
Posts: 151
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| Posted: Sat Jul 12, 2008 11:40 pm Post subject: Re: Is the USA bankrupt? |
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BigDiesel wrote: 2 wrote: Some think we are in the middle of an economic collapse that will surpass the Great Depression.
You must be listening to the Truckin' Bobo..... :lol:
Yep.
CNBC, and a few others, too.
That's what's got me worried.
Except Larry Kudlow - He was about the last to acknowledge any problem at all, with the economy.
There were a lot of folks who saw the real estate collapse, as much as 4 or 5 years back.
Things sure do seem different, this time.
You cannot mismanage things so bad, without a purpose. And, the purpose appears to be to kill this great experiment of a representative republic.
If your not worried, your not paying attention.
Evidence abounds. You just don't get it, from ABC, CBS, NBC, CNN nor Fox.
Lou Dobbs is the exception, on CNN. |
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Colts Fan
Joined: 10 Aug 2007
Posts: 578
Location: Indianapolis, IN
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| Posted: Sun Jul 13, 2008 6:14 pm Post subject: |
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We are not even in a recession. Our GDP has grown the last 2 quarters. Just don't listen to all the doom and gloom from the media.
I don't watch news on the major networks. I'd probably have an ulcer if I did. |
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2
Joined: 07 Sep 2007
Posts: 151
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| Posted: Sun Jul 13, 2008 8:07 pm Post subject: |
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Colts Fan wrote: We are not even in a recession. Our GDP has grown the last 2 quarters. Just don't listen to all the doom and gloom from the media.
I don't watch news on the major networks. I'd probably have an ulcer if I did.
Quote: If your not worried, your not paying attention.
Evidence abounds. You just don't get it, from ABC, CBS, NBC, CNN nor Fox.
Lou Dobbs is the exception, on CNN |
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countryhorseman
Joined: 04 Jan 2005
Posts: 732
Location: The Great State of Texas - Seguin
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| Posted: Sun Jul 13, 2008 8:17 pm Post subject: |
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Colts Fan wrote: We are not even in a recession. Our GDP has grown the last 2 quarters. Just don't listen to all the doom and gloom from the media.
I don't watch news on the major networks. I'd probably have an ulcer if I did.
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whatsmynameagain
Joined: 04 May 2008
Posts: 41
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| Posted: Sun Jul 13, 2008 9:57 pm Post subject: |
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| there has been a large job reduction every single month of the year so far, energy prices are out the roof, housing market is in the crapper and banks are starting to go under(indymac in california just went belly up) and the GDP growth you speak of has been microscopic and I am not even sure if I even trust the numbers the government is putting out there and you dont think we are touching recession? Kinda hard to base not being in a recession on those microscopic gains in the GDP when it is slowing down to a crawl and every other thing around it is going down the toilet if you ask me. |
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ben45750
Joined: 23 Apr 2005
Posts: 1759
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| Posted: Mon Jul 14, 2008 5:34 am Post subject: |
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Colts Fan wrote: We are not even in a recession. Our GDP has grown the last 2 quarters. Just don't listen to all the doom and gloom from the media.
I don't watch news on the major networks. I'd probably have an ulcer if I did.
Thank you Colts fan. I think we are just fine and yeah, the major media BLOWS !! |
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Windwalker
Joined: 22 Oct 2005
Posts: 3098
Location: Holiday, FL
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| Posted: Mon Jul 14, 2008 6:18 am Post subject: |
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Colts Fan wrote: Our GDP has grown the last 2 quarters.
Why are we using GROSS DOMESTIC PRODUCT these days?
It used to be GROSS NATIONAL PRODUCT (GNP).
In fact, the GNP has been going down for more than five years in a row now. It's not convenient to use GNP anymore, so they swtched to GDP. Just like the unemployment figures. Unemployment isn't very high, but look around you and see how many people there are that have gone beyond the benefits. The total unemployed has been going up. Even the "indicators" they've switched to do not look all that good. The indicators they've left behind look bad. In the past year, I've seen things I have NEVER seen before. Things I've only seen in pictures from back in the '30s. It isn't effecting all areas of the country equally, but do a search on "housing forclosures". They've been up at near record levels for two years now. They went down shortly after the Bush administration announced cutting a deal with the mortgage companies, but they've also gone back up again. A couple of guys that have made their living by speculating on houses have stopped because while there are a record number of houses they can buy, they can not sell them anymore. Nobody is buying. One of the guys is now working the cash register at a self-serve gas station. The first time he's got a "regualr job" in more than ten years.
Get the numbers for yourself, and compare that to the proppaganda from ANY news media, and we're already in the crapper and going down. Recession? We're in it. What do you suppose is next? |
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ben45750
Joined: 23 Apr 2005
Posts: 1759
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| Posted: Mon Jul 14, 2008 2:22 pm Post subject: |
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Windwalker wrote: In fact, the GNP has been going down for more than five years in a row now.
Here are the GNP Numbers and they are going up.
Units of Measure Billions
Oct-2000 $10,008.40 $9,941.60
Jan-2001 $10,060.20 $9,913.60
Apr-2001 $10,173.50 $9,949.80
Jul-2001 $10,151.80 $9,887.70
Oct-2001 $10,300.90 $9,983.10
Jan-2002 $10,359.50 $10,004.10
Apr-2002 $10,443.30 $10,048.60
Jul-2002 $10,557.00 $10,119.70
Oct-2002 $10,641.10 $10,143.80
Jan-2003 $10,744.90 $10,163.80
Apr-2003 $10,888.40 $10,266.90
Jul-2003 $11,139.80 $10,449.90
Oct-2003 $11,297.30 $10,540.50
Jan-2004 $11,501.70 $10,633.00
Apr-2004 $11,683.10 $10,701.40
Jul-2004 $11,862.30 $10,804.90
Oct-2004 $12,001.10 $10,844.40
Jan-2005 $12,224.00 $10,941.90
Apr-2005 $12,385.10 $11,014.70
Jul-2005 $12,645.70 $11,151.20
Oct-2005 $12,755.00 $11,151.10
Jan-2006 $13,027.50 $11,294.00
Apr-2006 $13,218.90 $11,362.50
Jul-2006 $13,311.90 $11,375.90
Oct-2006 $13,452.40 $11,447.80
Jan-2007 $13,615.10 $11,466.70
Apr-2007 $13,839.40 $11,580.00
Jul-2007 $14,071.60 $11,744.60
Oct-2007 $14,222.10 $11,799.10
Jan-2008 $14,321.90 - |
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Windwalker
Joined: 22 Oct 2005
Posts: 3098
Location: Holiday, FL
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| Posted: Mon Jul 14, 2008 11:25 pm Post subject: |
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| Don't know where you got that, but what I read didn't say that. And, yes, I do understand what the graph says. |
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StevenD
Joined: 01 Sep 2006
Posts: 26
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| Posted: Tue Jul 15, 2008 7:58 am Post subject: Put It All In Perspective... |
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War in Iraq, high fuel prices, housing market in a slump, personal debt, all these are individual indicators for the current economic problems, NOT unsolvable, and not historically causes for recession. In addition, look at every election cycle in your lifetime, the economy is/was affected by candidate rhetoric and voter fears of what the next administration will do.
If your world veiw is prone to be doom and gloom, you will find so many flaws with simple reasoning that you deserve what you get, a dark clowd that inhibits you from seeing all the good around you.
On the other hand, you believe that every decade has it's bumps and that even with a combination of factors does not indicate a national recession (as most economists do), then your outlook is unaffected and you put it all into proper perspective.
This may seem an oversimplification of the current situation, which indeed it is. keep in mind "Opinions are like belly buttons, everyone has one."
Steve |
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