More AMD layoffs
- Thread starter Idontcare
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Nemesis 1
Lifer
- Dec 30, 2006
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I am fairly old. and my my routes have stayed in place Since I was 2 years old. I live in a fairly poor area as its my HOME and I'LL not leave it. I have to say the talk on the streets is crazy. People talking about killing bankers and stock brokers. I have never seen or heard such things that a pouring from the average low income types ever.
I could never hurt anyone or thing on purpose . Thats now . I have had a rough past so its not always been the case.
Normally I would tell these types to stuff it. But for some reason part of me wants to grab a gun and go hunting . I fear terriable times are coming to the USA. Nothing like what we have ever seen since the cival war. May GOD have mercy on us. .
Pay cuts are already occurring. The government will not cut pay . Fact is government employees are getting a 5 1/2 % pay raise. Thats what will keep these people loyal to the government. Bribes > Pride/Honor.
May a sincerly wish all the best of luck in coming year as you will need it. As my life winds down . I can't help but pitty you all. I had some really good years. I am glad my time is ending. I hate to see human sufferrring . Brought about by the Rich greedy minority. Maybe it is time to get rid of this minority. You people will have to deal with the problem . Whilest the Lord deals with my spirit.
I could never hurt anyone or thing on purpose . Thats now . I have had a rough past so its not always been the case.
Normally I would tell these types to stuff it. But for some reason part of me wants to grab a gun and go hunting . I fear terriable times are coming to the USA. Nothing like what we have ever seen since the cival war. May GOD have mercy on us. .
Pay cuts are already occurring. The government will not cut pay . Fact is government employees are getting a 5 1/2 % pay raise. Thats what will keep these people loyal to the government. Bribes > Pride/Honor.
May a sincerly wish all the best of luck in coming year as you will need it. As my life winds down . I can't help but pitty you all. I had some really good years. I am glad my time is ending. I hate to see human sufferrring . Brought about by the Rich greedy minority. Maybe it is time to get rid of this minority. You people will have to deal with the problem . Whilest the Lord deals with my spirit.
It's easy to become part of the mob mentality and its also easy to scapegoat the banks and wall street because the TV and newspaper tells us to blame them.
What we are finding out now is that those 6 yrs of growth we enjoyed before the bubble burst should not have existed in the first place. Automakers were selling cars based on giving car loans to uncreditworthy people, same as mortgage dealers.
So when you cut out that part of the demand for those products (which is what happened post 2007, credit for uncreditworthy individuals evaporated) then you are left with the part of your economy that was really all that should have been there the prior 5 years as well.
We can blame whoever we want but it is us that we are blaming. Everyone who enjoyed the stock market recovery post 2001 (from 401k holders to day-traders) owes there past riches to the real-estate bubble. Now that the bubble collapsed and so too have our ill-gotten riches we all want someone to blame. People will always be people.
We can blame the banks and the politicians all we want but the fact remains people don't have savings accounts to weather the recession because of their own ineptitude...the same ineptitude they find unacceptable in the leaders of corporations and government.
I look at this recession as merely taking away that which should have never existed in the first place. We ALL benefited from the money swirled into the economy by people selling homes to folks who were taking out NINJA loans.
Those home-sellers who took receipt of the money from selling those homes turned around and invested or spent 100% of that money, which caused our GDP in general to increase and which caused our stocks to rise in value across the board.
So who do we blame for the recession?
dingleberrydorkbutt
Member
- Jan 13, 2009
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GW is merely a puppet in a play put on for the people. Almost all our financial woes can be traced to the money supply practices of the Federal reserve, which is no more federal than Federal express.
Nemesis 1
Lifer
- Dec 30, 2006
- 11,366
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I agree somewhat . But I believe Wall street has been stealing 401 $$ for years . Fact they stole so much that it was about to surface. Thats when the housing bubble broke . All that $$$ funneled from 401 K accounts moved to high risk investments morgage loans. The loans failed the brokers spent there stolen profits . With no means to replace stolen 401K $$$. So they put on this show for us. The money was stolen along time ago . The amount became so massive that it could no longer be hidden. These bastards belong in prison .
I don't want to get too far off topic for the video forum, but I think the economy tends to go in cycles... to tie this into the video forum, think about it like how Nvidia and AMD/ATi tend to trade the lead over time.
Whoever is in office at the bad cycle gets a lot of the blame. <- Unfairly gets the blame is how I meant for that to come acrossed.Oddly enough, other then my 401k taking a crap on me, I'm doing pretty well these days... well enough to buy a complete luxury item like an un-"needed" (but really wanted) video card anyway.
Originally posted by: SlowSpyder
I don't want to get too far off topic for the video forum, but I think the economy tends to go in cycles... to tie this into the video forum, think about it like how Nvidia and AMD/ATi tend to trade the lead over time.
Oddly enough, other then my 401k taking a crap on me, I'm doing pretty well these days... well enough to buy a complete luxury item like an un-"needed" (but really wanted) video card anyway.
Anyone that thinks the president has much effect on the economy needs a lesson or 5.
Even if this were true, and I'm not inclined to agree wit most of it, deflated 401k is not what causes a recession. Lack of consumer spending causes a recession.
So somewhere in the blame game we have to reconcile the fact that GDP is shrinking because people are spending less money now than they were in the past.
My argument is that we had no right to be spending as much as we were in the past, so we inflated the GDP in 2006 and now things are crashing back down to where they should have been all along.
If that means our economy was never good to begin with because we can't survive with it being 5% lower than last year then that suggests deeper issues as to what our economy is based upon.
Which again has nothing to do with wall street, everything comes back to mainstreet. Where people put their money in the past 5 years. Did they squander it on starbucks and iphones or is it tucked away in a paid-down mortgage or a paid off car loan or a set of FDIC insured savings accounts?
You are the only person speaking logically of anyone in this thread. The problem with mortgage bankers is just with how pushy they are. You can blame the used car salesman that sold you the lemon, but you are the one who bought it. How can you really blame your lack of savings on anyone other than you?
I know that I have had a hard time getting by for years, but I never went and tried to blame those that could get by. What would be the point? It isn't their fault that I didn't plan things out as well as I should have. It isn't their fault that I took on more responsibility than I could handle at the time. I have scaled back, and now I can comfortable afford what I have and what I need for the future.
If anything, the cost of oil influnced the economy tanking more than anything. The increase in gas prices caused the price and cost of everything to increase. Luckily OPEC has realized that they were the straw that broke the economic camels back, and brought prices back down to reasonable levels. Of course, it is too late to fix the bubble, as it already popped, but it does give us something stable to build off of.
These are just my opinions of course, and I am no expert on the economy. I am only telling it the way I see it, and if someone comes up with a more logical reason for what is going on, I will adopt that.
BTRY B 529th FA BN
Lifer
- Nov 26, 2005
- 15,099
- 312
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I think there is enough blame to go around at all levels. People were using easy credit to finance unsustainable lifestyles and take on debts they couldn't repay, but banks greatly loosened their lending standards and enabled these people to obtain mortgages they never should have had in the first place.
More like speculators decided there wasn't any more money to be made in commodities and pulled money of them en-masse. I'm not convinced OPEC has much control over oil prices. How many times have they claimed to have made "massive production cuts" in the past few months, despite the fact that the price of oil continues to slide?
This thread is becoming way too P&N for the CPU forum.
BTRY B 529th FA BN
Lifer
- Nov 26, 2005
- 15,099
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They were just the stem of the problem in that department. Alot of those loans from back when Bill Clinton was in office forcing loans to low income people caused some of what we are seeing today.
Originally posted by: soccerballtux
Originally posted by: SlowSpyder
I don't want to get too far off topic for the video forum, but I think the economy tends to go in cycles... to tie this into the video forum, think about it like how Nvidia and AMD/ATi tend to trade the lead over time.
Oddly enough, other then my 401k taking a crap on me, I'm doing pretty well these days... well enough to buy a complete luxury item like an un-"needed" (but really wanted) video card anyway.
Anyone that thinks the president has much effect on the economy needs a lesson or 5.
There is a lot of responsibility there, but a great deal more to spread around including the SEC, the FDIC, the Fed and an overall lack of Congressional oversight and regulation. Not to mention the Wall Street 'Pump and Dump' and corporate book-cooking (see the latest move by Citi and their off balance-sheet debt maneuvering).
In my life time the US has become a debtor nation living off credit. It should terrorize everyone here that personal debt and net worth (one high - the other low) is off the charts. Twenty percent of this country has zero or negative net worth.
The Federal gov't is nearly $11 trillion in debt and has paid $7+ trillion in interest alone on it's debt in the last 25 years.
The global bond market exceeds $65 trillion in debt. Financial derivatives may exceed 10 times that amount (Bookies never miss the mark and fancy financial algorithms never fail, right?). CDOs exceed $60 trillion - up tenfold since 2001.
Hey. I'm an optimist. But when folks blame simple poor folks and mortgages they can't afford for this mess I just have to LOL.
Originally posted by: soccerballtux
Originally posted by: SlowSpyder
I don't want to get too far off topic for the video forum, but I think the economy tends to go in cycles... to tie this into the video forum, think about it like how Nvidia and AMD/ATi tend to trade the lead over time.
Oddly enough, other then my 401k taking a crap on me, I'm doing pretty well these days... well enough to buy a complete luxury item like an un-"needed" (but really wanted) video card anyway.
Anyone that thinks the president has much effect on the economy needs a lesson or 5.
If you look at the $$$ wasted on the Iraq war, and the fact that the banks were forced to hand out sub-prime mortgages, you will see why GWB is 100% to blame for this mess we are in.
Originally posted by: SickBeast
Originally posted by: soccerballtux
Originally posted by: SlowSpyder
I don't want to get too far off topic for the video forum, but I think the economy tends to go in cycles... to tie this into the video forum, think about it like how Nvidia and AMD/ATi tend to trade the lead over time.
Oddly enough, other then my 401k taking a crap on me, I'm doing pretty well these days... well enough to buy a complete luxury item like an un-"needed" (but really wanted) video card anyway.
Anyone that thinks the president has much effect on the economy needs a lesson or 5.
If you look at the $$$ wasted on the Iraq war, and the fact that the banks were forced to hand out sub-prime mortgages, you will see why GWB is 100% to blame for this mess we are in.
Nobody was "forced" to sell subprime mortgages.
Nobody was "forced" to sign loan docs on a subprime mortgage.
I really dont know where some of this stuff comes from.
It's OK provided it stays in this thread. Even the matrix had to allow for the existance of imperfections in order for the other 99% of the simulation to remain under control. So we have one questionable thread roiling around in the CPU forum, I'm not going to call foul. Let the healing continue.
Nemesis 1
Lifer
- Dec 30, 2006
- 11,366
- 2
- 0
Na your young . You see from differant prospective. My generation the Baby boomers . Were starting to retire. I have said for years at least 20. That when we retire the brokers would steal our money befor we could collect. Thats exactly what happened. We been feeding the markets for 30 yers without withdraws. This is foney shit . Even today we baby boomers on a monthly bases is buy billions in stocks . This is pure BS and a lie. By wall street. Why was lehmans the sacrifical lamb. LOL Why no ballout for them . Prespective . You pay into the market for 30 years along with millions of other americans, Than watch stocks decline . 401 K money if it were in place and used for what it should be . We would be at Dow 30,000+ . The math is wrong any good economist should know this and they do . But their part of the problem so lieing comes as easy to these people as breathing does for yourself. The people who quit buying are the wall street bunch who stool are hard earned $$$.
I will tell ya this straight out . The blood is going to run deep on American streets. As the Government tries to protect the thievies. So once again in America it will be father against son and brother against brother. There is no fix . When all you can do is print more debt that has zero backing and is in fact worthless.
I live in CA, I've seen some of the mortgages people signed on to... then defaulted on. Some of them are relatives.
You can blame the banks for approving people for loans that they KNEW the people would not be able to afford. What kind of approval process only looks at the initial, low, fixed rate period for approval?
However I'm more prone to blame the people signing their name on loans that if they had half a brain they'd realize that they'd not be able to pay it back as soon as the adjustable rate period kicked in and pushed the rate up above what they'd have if their loan was 30 year fixed... if the economy stayed flat, let alone if there was any kind of dip.
People in the government helped this along dating back to Clinton era, but ultimately I think you have to blame about 2/3rds of the people who are defaulting on loans. It doesn't take a genius to figure out that if you can barely make the fixed rate period of an adjustable rate loan, that a year from now (or 3 or 5) when the low fixed rate period ends and the bank jacks up the rate to make it's money, you won't be able to afford the payments.
A lot of people I talked with just "around the water cooler" at work about their houses and loans and such legitimately thought that they were better off LONG TERM with an adjustable rate mortgage because they couldn't qualify for a 30 year fixed on their house. They did not realize that the payments would jump to higher than 30 year fixed value after the fixed period on their loan. Now the same people talk about their foreclosure process like it's just another normal life event.
I still know people barely making payments that are in loans they can't afford. They are holding on now, but it's only a matter of time before they default on their loan. In their case they have a ~380k loan and a house that's probably worth about 200k. How many of these people are left? Based on what I see, I think there are a lot of these people left and we've only seen the first half or so of the major bad sub-prime defaults.
Then there is all the people getting laid off who will have severance to cover them for another 6 months, then savings & unemployment for maybe another year. Like 12-18months from now, the fecal matter will REALLY hit the fan when these people start defaulting and / or going bankrupt.
TBH the AMD layoffs have to do primarily with the ATI takeover, paired with too many underperforming products - both GPUs and CPUs.
Another reason is probably because development of the Phenom 2 is finished, and they apparently will not have any new CPU designs for the next 2 years or so. It does not make sense to be overstaffed in terms of engineering while they are focused on selling what they have already invented.
Another reason is probably because development of the Phenom 2 is finished, and they apparently will not have any new CPU designs for the next 2 years or so. It does not make sense to be overstaffed in terms of engineering while they are focused on selling what they have already invented.
Originally posted by: Ocguy31
Originally posted by: SickBeast
Originally posted by: soccerballtux
Originally posted by: SlowSpyder
I don't want to get too far off topic for the video forum, but I think the economy tends to go in cycles... to tie this into the video forum, think about it like how Nvidia and AMD/ATi tend to trade the lead over time.
Oddly enough, other then my 401k taking a crap on me, I'm doing pretty well these days... well enough to buy a complete luxury item like an un-"needed" (but really wanted) video card anyway.
Anyone that thinks the president has much effect on the economy needs a lesson or 5.
If you look at the $$$ wasted on the Iraq war, and the fact that the banks were forced to hand out sub-prime mortgages, you will see why GWB is 100% to blame for this mess we are in.
Nobody was "forced" to sell subprime mortgages.
Nobody was "forced" to sign loan docs on a subprime mortgage.
I really dont know where some of this stuff comes from.
The government not only helped cause the sub-prime mortgage crisis, but their lack of regulations failed to prevent it as well.
A lousy president can and will cause the economy to fail.
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