Originally posted by: newnameman
Good luck with that...Originally posted by: ProfJohn
Can someone give a straight forward no political BS answer.
I thought the same but was pleasantly surprised. Good thread... :thumbsup:
Originally posted by: newnameman
Good luck with that...Originally posted by: ProfJohn
Can someone give a straight forward no political BS answer.
Originally posted by: Moonbeam
We need PC Surgeon tell us what will happen. He can see the future now.
Originally posted by: Mani
Most direct impact will be felt in consumer confidence. Lower consumer confidence -> less spending -> company cutbacks -> higher unemployment & lower wages. That's the simplest way I can put it.
Originally posted by: GrGr
The Fed is penniless. The US Government is broke. And that with another Great Depression looming. During the first Great Depression the US was at least solvent and had a strong manufacturing base. That is gone as well now.
Good luck.
Originally posted by: shira
One of the biggest problems in our financial system is that people are rewarded for short-term good results but not held accountable for longer-term bad results. So you have some fund manager walking off with millions for investing heavily in sub-prime-backed securities (leading to huge short-term profits), but when the fund collapses that same fund manager doesn't pay a dime.
Similarly, CEOs are given huge incentives for increasing stock prices, but if the company ultimately fails, that CEO is simply shown the door and given a golden parachute.
Originally posted by: IcebergSlim
Originally posted by: GrGr
The Fed is penniless. The US Government is broke. And that with another Great Depression looming. During the first Great Depression the US was at least solvent and had a strong manufacturing base. That is gone as well now.
Good luck.
Wasn't the fed created to prevent another "great depression" lol. The concept that the government can be bankrupt is seriously hilarious. Brazil had to start over with new currency 3 times over the last 30 years. Their economy is stronger than ever. We don't need the fed. The government has the right to issue its own currency.
Originally posted by: IcebergSlim
Originally posted by: GrGr
The Fed is penniless. The US Government is broke. And that with another Great Depression looming. During the first Great Depression the US was at least solvent and had a strong manufacturing base. That is gone as well now.
Good luck.
Wasn't the fed created to prevent another "great depression" lol. The concept that the government can be bankrupt is seriously hilarious. Brazil had to start over with new currency 3 times over the last 30 years. Their economy is stronger than ever. We don't need the fed. The government has the right to issue its own currency.
Originally posted by: LegendKiller
Originally posted by: IcebergSlim
Originally posted by: GrGr
The Fed is penniless. The US Government is broke. And that with another Great Depression looming. During the first Great Depression the US was at least solvent and had a strong manufacturing base. That is gone as well now.
Good luck.
Wasn't the fed created to prevent another "great depression" lol. The concept that the government can be bankrupt is seriously hilarious. Brazil had to start over with new currency 3 times over the last 30 years. Their economy is stronger than ever. We don't need the fed. The government has the right to issue its own currency.
The Fed was created before the GD for the intent of maintaining a liquid banking system.
Originally posted by: ProfJohn
The idea that we are heading to another depression is crazy.
It would take a string of bad decisions to get us even close to that type of economic situation.
If you actually study the great depression you will see that nearly everything the government did in response to it was wrong.
They tightened the money supply, they raised tariffs etc etc. You could almost take a list of what we did in the 1920s and use it to write a book on what NOT to do in an economic crisis.