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Originally posted by Mr.Hyde
"What if the fear mongering on the economy is just a con job? "
- Very well written post, I enjoyed reading it. But...
The company I work for has cut over 600 jobs. That's not a con job but a fact. People are losing their jobs and in large numbers and on a regular basis. If the poor state of the economy is nothing more than a lie ... What does the PTB stand to gain from people losing their jobs? Movement to a one-world currency? We already have that...the Dollar. What does it stand to give the PTB to switch this to another countries currency or create a new one recognized by every country in the world (which would be very difficult)... that's very unlikely as the Dollar is already in place for this. So for this economic collapse to be nothing but a con job is very unlikely.
I don't see economic recovery from the 'bail-out'. Cap and trade only stands to make things much worse. Its as if the team of people calling the shots and making the decisions that will determine our future is committing to a sort-of economic suicide. What can we do about it though? Its really far out of the citizens hands. Tent cities and I-O-U's anyone?
[edit on 14-7-2009 by Mr.Hyde]
Originally posted by johnny2127
First of all, you are trying to say the MSM is pushing fear mongering. Not sure what MSM you are looking at, they are pushing hope down the throats of everything based on zero facts. This article I posted was one realistic one in a sea of crap. What I would like to point out to you, is that the people you say you work with are not the average persons in this country, AND there are not the epicenter of what the problems in the economy are.
Keep in mind, most consumers were not the problem. It was the role of banks, the govt, and a irresponsible portion of consumers.
So I would say, go talk to business owners whose success is driven by growth. I talk to them frequently given my business, and not one is optimistic, or seeing any growth or slowing for that matter. I am sure bankruptcy attorneys are doing amazing though.
But nothing has changed besides the banking system being pulled back from the brink, and placed on life support. They still aren't lending. And this fall commercial real estate lending will collapse followed closely by optionARM mortgages. We are far from the bottom my friend. Hope and gut feelings are nice, but the FACTS point a much different direction.
Thanks for your reply. This is what I'm saying, however. I do not live in an ivory tower. I am quite in touch with homelessness and unemployment in my communities, and I am telling you, they don't resemble by any stretch of the imagination the despair you describe in Michigan. The condition of Michigan is not sufficient evidence for the predicted demise of the U.S. economy.
What I am pointing out is that being vulnerable to the effects of a recession and the end of the world are a long way from one another.
Quantitative proof, actually. Shambles is colorful, but not real. Many people are continuing to do just fine. I'm not saying there is nothing going on. I'm saying shambles is not an adequate description of the economy at large.
Could you elaborate a bit on why you think Michigan is a bellweather for the U.S. economy?
Originally posted by Molan27
I live in Palm Harbor Florida which is right outside of Tampa. There are actually whole neighborhoods where there is hardly nobody living. The year long residents either got foreclosed on or gave it up too the bank and moved.. The seasonal residents have mostly put there houses on the market because they can't afford two homes any longer.. It's strange riding my bike through these beautiful neighborhoods with big homes all empty. There's for sale signs on just about every home. I know Florida is one of the hardest hit states in the US but man you really get a sense of the problem.
One benefit i noticed is the traffic is much better esp. during rush hour. The Florida job market is awful unless your in the medical field or your retired.
The HQ for the special ops is at Macdill AFB which is where I work.. So I see all the Delta and CIA teams coming and going in the C130's.
The real estate market should have leveled off, but it hasn't it hasn't even dipped, it's still rising and that's going to cause even more problems with the economy just because of Bank Greed! They will cause the crash because they want to always make a killing on the sales of real estate.
When you want to sell your house, who do you call? An appraiser, who does that appraiser work for? Either a bank or real estate agent(if owner is selling through the agent). They then tell you what your home is worth, they then Lend the money to another buyer, they set the price, they set the interest rates (Either bank or agent), Also even if you sell by owner, they look online for the amount their house is worth, that's usually an agent or bank, but really agents are just banks anyway, they are banks that only deal in real estate.
Most of the time the house isn't even worth half of that, yet they want to make a 100 percent profit and leave the sellers with next to nothing out of the sale of their OWN house. I know I have an aunt who worked in real estate and also I have watched the purchase of several houses.
They make a sh***load of money, they are all wranglers and you're a D**** IDIOT!
As for housing going down well, I ws talking about Florida here it IS in fact RISING! Take for instance this house three years ago(down the street from me) It's a dang wreck, it isn't livable, but it was selling at $189,000 Now this week it was listed at $600,000. It is a residential home, BUT the BANK has turned it over to COMMERCIAL land so that they can sell this crappy Piece of A&& at that price. Now tell me they aren't full of BS!
Originally posted by uswgo
I agree with that, The economy is getting worse and worse and all I see is Obama cutting more jobs under helping the environment, I just keep seeing things get worse and worse, How can this be change we can believe in?
Can anyone tell me if I am wrong and that California farms will be restored, and our countries jobs will come back from overseas?
or is our economy still in a bad freefall?