The Economics Discussion Thread - Progressive Rock Music Forum

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johnobvious View Drop Down

Forum Senior Member

Joined: May 11 2006
Location: Nebraska
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Points: 1367

Posted: December 11 2008 at 12:59

Atkingani: well at least one of the major forces who ran us into the ground is gone and that is Alan Greenspan. The most overrated government official in quite some time was nothing but a fraud. If that guy sleeps at night, I would be even more mad than I am now.

Edited by johnobvious - December 11 2008 at 12:59

Biggles was in rehab last Saturday

johnobvious View Drop Down

Forum Senior Member

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Location: Nebraska
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Posted: December 11 2008 at 12:54

I usually at least leaf through the Wall St Journal every day and it is depressing and becoming a vicious cycle. People losing their jobs, people spending less so more places have to cut jobs and so on and so on. The United States has built it's economy on people wanting to own so much superfluous crap and others building businesses and employing people to sell them that crap that once we all opened our eyes and realized that maybe we only need essentials, it is like a house of cards come crumbling down. And when we buy less stuff, we are also importing less stuff so that affects other countries as well who have built up industries on American's desire to own.

Bailout or no, I think we are in the dumper for quite some time. The only hope we have is the that Americans pull themselves up by their bootstraps and start buying crap again.

Biggles was in rehab last Saturday

Atkingani

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Joined: October 21 2005
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Posted: December 11 2008 at 12:45

I'm not sure if oil prices were the only responsible for the economical downturn that we are seeing recently. Actually other factors seem much more guilty for the present depression.

I'm quite sure that in 2 years ahead things will return to normality

with the same people that sank the boat still commanding the helm of the economy only to sink another boat 3 or 5 years later. In the end, those without voice, everywhere, will lose and suffer and those with a big mouth will gain and laugh.

Guigo

~~~~~~

Slartibartfast View Drop Down

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Joined: April 29 2006
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Posted: December 11 2008 at 11:58

Not on topic, but what's Blago hiding under that hair that covers his forehead?

Edited by Slartibartfast - December 11 2008 at 12:44

Released date are often when it it impacted you but recorded dates are when it really happened...

Epignosis

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Posted: December 11 2008 at 11:45

NaturalScience wrote:

The current, immediate issue right now in the U.S. is a federal "bailout" of our domestic auto industry. A bill has passed the House and must now be considered by the Senate to provide an emergency bridge loan to the so-called "Big Three" American auto companies.

The senate vote could be decided by whomever paid Blagojevich the most $$$. Wink

https://epignosis.bandcamp.com/album/a-month-of-sundays

Padraic

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Posted: December 11 2008 at 11:35

The current, immediate issue right now in the U.S. is a federal "bailout" of our domestic auto industry. A bill has passed the House and must now be considered by the Senate to provide an emergency bridge loan to the so-called "Big Three" American auto companies.

Epignosis

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Posted: December 11 2008 at 11:34

I'm one of millions of unemployed people here in the USA, which has an unemployment rate sitting right under a scary 7%.

I lost my job as a teacher in July (which had nothing to do with the economic at all, but with major property tax cuts). I've applied to over 75 positions, and had two interviews that went nowhere.

And companies continue to lay off workers, or as the British say, the "redundancies."

I hoping things take a turn for the better come January. At least gasoline is under two dollars a gallon.

Edited by Epignosis - December 11 2008 at 11:35

https://epignosis.bandcamp.com/album/a-month-of-sundays

The Pessimist View Drop Down

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Joined: June 13 2007
Location: United Kingdom
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Points: 3834

Posted: December 11 2008 at 11:16

After readin through the Political Discussion Thread, I decided to create an Economical Discussion Thread, as I know almost nothing about politics

However, I am planning to take an economics degree at University. I'm highly interested in it and I know a fair bit also.

So as you all know, many countries are in a downturn at the moment, the main culprit being oil prices in my opinion. Zimbabwe has perhaps the highest rate of inflation in the world at a mammoth rate of 231,000,000%. Unemployment is also a pretty big issue in the UK, and if we are not careful with the bank bailouts, we may be in a rare deflation state.

Please discuss, all of you who are pretty hot on the world economy

I would also love to know what's going on in other countries as well, e.g. The U.S., Germany and the like.

"Market value is irrelevant to intrinsic value."

Arnold Schoenberg