20 reasons the US economy is dying & not going to recover

[Trader666]

Because it would be like arguing with someone who thinks the earth is flat.

Quote from Misthos:

You didn't address the points I made, you just posted a wiki entry and a "get real" retort.

 

[TraderZones]

Quote from gastropod:

This is a far more desperate situation than the "Great Depression." Back then they "could" (and did) fall back from the gold standard onto a fiat "standard" - a "faith based" monetary system. Today, we cannot even do that. Yes, there could be a government ordered devaluation of the money...that would soon lead into hyperinflation and a worse result than having done nothing. "Bad" doom one way and "even worse" doom the other way.

this is all speculation. You cannot try to look into the future and have any clue about how to therefore prognosticate the present.

We are also far more productive and have far more wealth than that time.

 

[Bigpipn]

Quote from Misthos:

You didn't address the points I made, you just posted a wiki entry and a "get real" retort.

We are just entering this crisis. If we are to compare the Great Depression with today's crisis, then all we can do is to compare the beginning stages of each crisis. Today, we are entering a crisis extremely ill prepared compared to our situation entering the Great Depression.

Bingo.

This is going to be much, much worse than the Great Depression because of the size of the population (the sheer amount of people that see and understand the great disparity b/w the elite and the poor) and because we've levered every asset on the balance sheet. We, the people, are not prepared for what's to come. The government, however, is well-prepared and will continue to add more armed heads.

The more the gov't does to try to fix the cure the worse it will get. Obama can't restore housing prices, what are they going to do implement price fixes? LOL. They are already talking about a hotdog tax, what's next, taxing our subatomic particles? OH yeah...

 

[Thermactor]

Quote from Misthos:

There's a big difference between a standard ARM and an Option ARM.

An Option ARM has a minimum payment option the first five years, and the loan can go through negative amortization. After that 5 year period, the debtor has to make the fully amortized payment. Despite low rates, that will be a HUGE payment shock for many people that just got by on the minimum payment.

These loans were pretty normal in California and may have made sense for people planning to sell or refinance their homes within the first 5 years. They are now trapped, and face negative am. no way out.

Thanks for this post. We will have to wait and see what happens now.

 

[Misthos]

Quote from Trader666:

Because it would be like arguing with someone who thinks the earth is flat.

I give you historical facts and statistics to support my position. Your responses OTOH, are so well thought out that you don't need to support them with boring data.

Were you captain of the debate team in high school?

 

[just21]

Quote from Bigpipn:

Bingo.

. They are already talking about a hotdog tax, what's next, taxing our subatomic particles? OH yeah...

That's where carbon trading comes in. The government issues carbon permits to corporations which are sold at a profit, the profits are taxed. Corporations pass on the cost of the carbon permit to the consumer. Watch your electricity and gas bill go through the roof. In the UK the average electricity bill could go to £5,000 by 2020 to pay for all the windmills in the north sea.

 

[saliva]

Apparently the article left out the 21st reason. According to the Incas, the world will blow up on December 21st (get it?), 2012. So what the hell does it matter anymore?

 

[IanMacQuaide]

Quote from just21:

That's where carbon trading comes in. The government issues carbon permits to corporations which are sold at a profit, the profits are taxed. Corporations pass on the cost of the carbon permit to the consumer. Watch your electricity and gas bill go through the roof. In the UK the average electricity bill could go to £5,000 by 2020 to pay for all the windmills in the north sea.

The vast majority of Westerners can't afford that. Talk about your Revolution...!:eek:
I don't see this as realistic. But I've been wrong before.

 

[peilthetraveler]

Quote from TraderZones:

Back then, I am sure people wrote why the Great Depression was the end of the world also...

Actually back in 1930 people were writing about how we were through the worst of it...

 

[Trader666]

If you think that crap you gave is justification, I'd be surprised if you graduated high school. What I provided in the wiki link had WAY more substantive info. If you're not capable of understanding it, then I have neither the time nor the inclination to educate you.

Quote from Misthos:

I give you historical facts and statistics to support my position. Your responses OTOH, are so well thought out that you don't need to support them with boring data.

Were you captain of the debate team in high school?