No they aren't but I'm not pointing out they are the same, just that this is not some small "cyclical" event. I want to hear you say one way or another.Originally posted by: LegendKiller
No two economic cycles are the same, if they were, we'd be able to counter them quite easily.Originally posted by: PC Surgeon
Yes economic downturns are cyclical but you must admit this one is different. The inflation of the past 8 years, most of Americas wealth in jeopardy (housing), fiscal mismanagement, constant over spending, banks failing etc.Originally posted by: LegendKiller
It's all cyclical.
BB has done a lot of research on the GD. There were many contributors, but a massive cause was the US worrying about its currency more than its people and their ability to stay liquid and get credit when needed.
No? Gold/Silver/Oil tripling in value because of the weak dollar doesn't show inflation? Come on LK, you can do better than that.Inflation wasn't horrible the past 8 years.
This isn't just individual wealth LK, this is home values across the board, Americas wealth in general.Most of America's wealth isn't even close, considering the base of the problem is close to 0% equity in housing, and there is little/no recourse to other "wealth", then the only "wealth" at risk is that of the owners of bonds, which you guys claim are all "rich people" so who cares, right?
As if you don't know and need to be told. Government.Fiscal mis-management and overspending, by whom?
Well we wouldn't have to worry if they didn't have liquidity because the FED would just bail them out. Thats the lesson these banks learned this year.As far as banks failing, the weak will fail, the strong will survive. It's pretty simple. Lehman Brothers has about 100bn in liquidity lines that are untapped. They probably won't fail like BSC because of that.