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Crash: The next Great Depression?

Discussion in 'Political Discussion' started by PatriotsReign, Jan 2, 2009.

  1. PatriotsReign

    PatriotsReign On the Roster

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    That's the name of a show on right now (10-11pm) on the History channel.

    Figured I'd get this out there in case anyone's interested.
  2. MrBigglesWorth

    MrBigglesWorth Rookie

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    just saw it 5 minutes ago
  3. Run DMC

    Run DMC Rookie

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    #24 Jersey

    PR, are we going to start out this joyous New Year on such a down note? You're bumming me out, bro.:(
    Last edited: Jan 2, 2009
  4. MrBigglesWorth

    MrBigglesWorth Rookie

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    cmon you know a stimulus check is coming. just enough to make you think the govt is helping you while they want to increase taxes on gas, contine to let corporations rape you on interest rates and brainwash you into thinking that you need to maintain your good credit.
  5. Run DMC

    Run DMC Rookie

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    #24 Jersey

    I make too much to be "stimulated". :mad:
  6. PatriotsReign

    PatriotsReign On the Roster

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    I'm not saying ANYTHING other than information on a show on the History Channel Mossed.

    Happy New Year to you brother! Hey, I think we all hope this talk is all for not and we can escape this crisis without having too much much suffering. Let's focus on the positives. This is waking up a country and an economy that has been running on auto-pilot for far too long.

    It's time for new direction, so let us set our sites on the setting sun of the old and welcome the new!

    There, does that sound better my friend?;)
  7. PatriotsReign

    PatriotsReign On the Roster

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    Same here and that pisses me off to no end. I'm not "rich" and I do not understand how our gov't chooses such low arbitrary incomes where they cut people off from getting a check.
  8. MrBigglesWorth

    MrBigglesWorth Rookie

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    talk about denial...:eek:

    they'll help out citizens just enough so they can continue to make money off their labors. afterall they are just perpetutating the system by giving money to the corporations. it's a trickle up system.

    why should corporations be given more money when they spent all their other money in the first place?
  9. PatriotsReign

    PatriotsReign On the Roster

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    In what area do you believe I'm in denial. You've posted on my economic threads for months now, so you know where I stand Biggles. I have been against bailouts from the beginning.

    I'm confident my perspective of our economic condition is pretty accurate.
  10. Run DMC

    Run DMC Rookie

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    #24 Jersey

    Happy New Year to you too, amigo! My New Year's resolution is to be a glass is half full kind of guy! That should last about a millisecond. The word for 2009 is "deflation". I like it!
  11. MrBigglesWorth

    MrBigglesWorth Rookie

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    this problem is alot bigger than we can imagine. you absolutely need to wathc that movie. the american people need to wake up to the fact that we are essentially indentured slaves. you will never be on the positive side of things. you will always be playing interest. why does a saving account or bong pay 2-3% interest yet credit card companies and mortgage companies get to charge 5-30% interest. doesn't seem fair. if the government really cared about you would they allow you to buy yoour own home for 2% interest?if the government cared for you it would have given you a portion of the bailout money.

    i recently wanted to see if i could refinance. i called my mortgage company which is under AIG. she looked up my acct then went onto say that they are no underwriting any loans now.

    so much for credit trickling down and opening the credit lines. they kept the money for themselves, day to day operations and ceo pockets.

    this country is headed for a major crisis and thigns are gonna get real bad. with a ton of ARMS expiring in 2009 and 2010 things are gonna probably fall apart.
  12. PressCoverage

    PressCoverage Banned

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    someone said it correctly here last week...

    expect brief and vague signs of modest recovery until april or so, and then, ... the bottom drops out...

    it's already being dubbed the "summer of hell" by some...
  13. PatriotsReign

    PatriotsReign On the Roster

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    Biggles, you didn't answer my question and you keep preaching about the "true" reality as if I don't know. I've studied economics for over 20 years and the things you're saying about mortgages continuing to fail are the same thing I was saying 6 months ago.

    If I pulled up some of my old threads from back then, I'd show you that it was YOU who was more optimistic than me. Let's say for the sake of argument that part of me believes that we are headed for armageddon. What good would it do me to focus on a worst case scenario? I'm CHOOSING to have hope because that is a better choice.

    If you want to sulk in your endentured slavery and "we're doomed" vision, go ahead. No one's gonna stop you. And even if you're right, what are you gonna do? Are you going to post on an internet that no longer exists that you were right?

    If you're looking to start a revolution and gather warriors, you're on the wrong website bro.
    Last edited: Jan 3, 2009
  14. MrBigglesWorth

    MrBigglesWorth Rookie

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    regardless, i believe in the next 4 years we will see a paradigm shift, a change in the collective conscious.

    time will tell.

    but a fake system of economy can not perpetuate itself indefinitely. watch the flik and we'll talk afterwards.
  15. Real World

    Real World Moderator Staff Member

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    you talking about the stock market, or the actual economy? I think the market could drop in the spring months, maybe even significantly (maybe), and that the economy will show some signs of rebound in the 3rd/4th qtr of this year. I think a lot will depend on what the Obama team does, where oil is, and whether or not people are still investing in the treasury.
  16. Patsfanin Philly

    Patsfanin Philly Rookie

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    #95 Jersey

    FWIW it is Armageddon week on the Discovery channel but one thing caught my attention that I hadn't seen referenced before. They stated/claimed that 1 out of 4 mortgages in this country is for more than the house is worth. If true that tells me that many people bought houses with little or no downpayment or housing prices have totally crashed. In some markets. like Vegas, Miami, Phoenix and California they've collapsed while in some other areas ( with low rates of liars loan or balloon payments) it's bad but not as severe such as Philly and the northeast where it's down 20% versus 40% or more out west....

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