Economy in Recession? More Liberal Lies?, page 2
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reply posted on 31-8-2008 @ 05:43 PM by mybigunit
Jamie

This economy is in a recession and a deep one at that. First thing is first assuming that your numbers are correct which I dont believe any of the numbers that come out from the government the GDP is based on consumption and not production and hasnt been for over 30 years. This number is only halfway high because of the high prices people are paying and because of the 178 billion dollar stimulus checks that we borrowed money from China to give out to people.

On top of this we are not a creditor nation we are a debtor nation which changes our position dramatically from the 70s and even other recessions we have had in the past.

We have no industrial base. All of our jobs are in India and China right now. Some of these jobs are good paying jobs that are no longer here.

If we are not in a recession then how do you explain the FDIC, the banking industry, the housing industry, the auto industry, and the airlines industry all begging for government bailouts. How can we bail them ou once again we dont have the money. Eventually they will get their bailouts we will print it and borrow it. Our taxes will eventually have to go to 50% and interest rates raised to 18% to fight the inflation for all of this money printing.

The fact is if you understood the fraction reserve system and our fiat currency it would be a no brainer we are in a recession. When you extend the kind of credit we did and then retract it the way we did it leaves a whole host of debt out there that needs to be paid with no where near the existing currency to pay it off.

This isnt a liberal conspiracy. This is your government putting a friendly face on a very ugly deal.


reply posted on 31-8-2008 @ 08:38 PM by ColoradoJens
reply to post by Elfworkz



Who claimed we are in a bad world? I hate doritos, I drive a 2000 Corolla, I work my ass off to be a responsible contributing member of society, I paid for and received my degrees, I have tenure, etc...I love my life and my family. I am not scrounging (although you said you were having hot wings, so maybe you are worse off than me) but I am recognizing the shifts in costs associated with raising a family. And this is because I have perception. Again, one bad accident, or something happens and you get laid off, it can be really tough. And how about that housing maket, eh? Great time to be an entrepenuer or start a family - two American traditions slowly vanishing.


reply posted on 31-8-2008 @ 08:44 PM by mybigunit
Originally posted by jetxnet

Hey Jamie, how much money do you make? Have you ever had to save money? I have two degrees from REAL colleges, my wife has one, we both are successful business people with kids, cars house, etc. Believe it or not, we more or less live paycheck to paycheck. And we make what I would call pretty good money.


Maybe you shouldn't drive your cars so much and cut back on eating. It's what Obama recommended you do in order to survive this "perceived" American recession.

The numbers are valid. In fact, China's economy is booming at nearly 10%, while the American economy stays around 3. It was up to 5 before this "2%" recession.

The only recession in America is with regard to Housing scandals and high Gas prices. High Gas prices are global, not just an American problem.

Don't forget to air up those tires now and maybe get a tune-up soon


lol Chinas economy is booming? Hehe China relies on American consumption and there is none right now. Nobody has any money but the top 1%. No body saves any money anymore. Saving is not the American way anymore remember? Remember Bush on TV a week ago telling people dont save your money in times like this spend spend spend us out of this "turmoil" Its obvious you didnt read my above statement. The fact is our reliance on the FED and out fractional reserve system the way we do is the direct cause of this situation. It is an ugly situation too. I dont feel like giving school lessons tonight but I recommend you read up about our monetary system to understand our current situation.


reply posted on 31-8-2008 @ 08:48 PM by ColoradoJens
reply to post by jetxnet



I'm sorry. I'm 6'4" 190. Does this sound fat to you? Maybe you should keep your snide lame comments to yourself. If you have no real desire in life to be anything and you play video games and get stoned or go fishing, or mountain biking because you have no balls to talk to a woman, or you wont get a job where you wear a suit beacuse, "that's gay!" and hell I'll keep living in this pathetic apartment because I wont work for the man and I'm a free guy and all those dopes with families and crazy schedules and bills and whatever -THEY ARE IDIOTS! To you I say, GROW UP.


reply posted on 31-8-2008 @ 08:50 PM by jetxnet
China's economy surpasses a 10% growth rate for the fifth straight year!

Source

No, don't give any school lessons, you'd be a bad teacher.

China does not rely on American consumption. It is long since past this stage. They have their own products out there now and lots of them, undercutting the American versions of similar products. It's why China replicated one of Dodge's vehicles and put a different name on it.

It's people like you who always thought China would be controlled by the US markets - how stupid you were. I've been saying this would happen since 2000, and it turns out i'm definitely right.



[edit on 31-8-2008 by jetxnet]


reply posted on 31-8-2008 @ 08:54 PM by mybigunit
reply to post by jetxnet



Hmm the Heng Seng hase lost 33% of its value in the past 52 weeks
finance.yahoo.com...^hsi

With the Dow losing around 22%
finance.yahoo.com...^DJI&t=1y&l=on&z=m&q=l&c=

On 14% inflation that is not helping also. God I hate always being right.
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