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Originally posted by anotherdad
reply to post by grimreaper797
I love it when funny and awesome come together as one. I say we give the OP until Tuesday. 24-48 Business hours.
Originally posted by antmax21
Another ..doomsday thread.
Well hopefully...all of this is wrong and we can live another day. The thing is, is that ...there is no credible source here. We cannot fall down just at the notice of one statement, be calm, research, and always be prepared.
Originally posted by themamayada
My Dad is an economic/financial/accounting guru who doesn't read the internet conspiracy stuff (hence, very unbiased).
The global financial crisis is turning into a bigger drain on the U.S. federal budget than experts estimated two weeks ago, ballooning the deficit toward $2 trillion.
The 2009 budget deficit could be close to $2 trillion, or 12.5 percent of gross domestic product, more than twice the record of 6 percent set in 1983, according to David Greenlaw, Morgan Stanley's chief economist.
Treasuries have fallen the past four days even as stocks sank, a sign investors are preparing for bigger U.S. government borrowing. Benchmark 10-year note yields rose to 3.82 percent at 7:49 a.m. in New York, from a close of 3.45 percent Oct. 6.
Payments the government allocated to keep vital companies solvent are beginning to look insufficient.
The additional borrowing could push the national debt well past 70 percent of GDP, the highest since the immediate aftermath of World War II, when the U.S. was still paying off war debt.
Originally posted by grimreaper797
Well its officially the weekend. The market has not crashed.
The news of this weekend with Morgan Stanley, Goldman Sachs, and the G7, will determine next weeks Dow future. I believe that the FSME rang a false alarm on us here.
Modern journalists didn’t view the economy or stock market in the same light as their predecessors. They invoked the history of the market with little understanding of how journalism had covered it. Journalists compared current economic circumstances to the Great Depression more than 40 times in the first four months of 2008 and had made similar comparisons in 2006 and 2007.
As economist Gary L. Wolfram explained, “These numbers are so far afield from what we are experiencing today that it is difficult to comprehend their magnitude.” Wolfram, a Business & Media Institute adviser and the George Munson Professor of political economy at Hillsdale College, explained that the Great Depression had a sweeping impact and wasn’t just a U.S. event. “The Great Depression was a period of decline that involved not just the economy of the United States but that of the entire world. The economy began to falter in 1929. When it hit bottom in 1933, world production had fallen by one-half, with the United States economy declining by 29 percent.”
Originally posted by Trayen11
reply to post by SuperSecretSquirrel
i mean come on,realistically if the US goes down, good luck showing me one country that is self sustaining enought to ride the coming storm that would ensue.....I cant think of one, save perhaps Isreal