The Economy

[NeverendingAbyss]

I'm like whoa. Economic Armageddon...
Have your say about this problem!

[browneyedgirl]

http://www.chycho.com/?q=node/1864

Does not sound good. Sometimes I get really scared because my job is just hanging by a thread. I'm even more scared about my son because he has a baby on the way, due in less than a month. Thankfully my son has a secure job for now, but I do not know about the future. I learned many survivalist skills from my Ex, but if the economy falls totally I don't know how much they'd help.

I think Obama could change things if he is elected, but the mess will take a couple years to straighten out or even longer.

Its not just a USA problem now, but all markets worldwide are faltering. Its not a pretty sight&it will probably get worse before its better.
My parents are retired and doing better financially than they ever have---for now. They are worried, mainly about Medicare being cut even though they also have regular insurance, too. In times of economic downturn the very old and very young are the ones to usually suffer.

Electrity and gas(both heating&automotive)are going up, so are many food items. I have 2 freezers almost full of food&I am in the process of stocking flour, meal, rice, coffee, sugar, oil, and canned goods now. I also have a wood-burning stove I can use if worse comes to worse. I also have a kerosene heater, but shit, kerosene is $5 a gallon!

[icecab21]

The preventability of this problem is sick. Lots of credit to go around for there being no credit to go around. Too much of the USA is all about having negative cash flow and a high debt to income ratio and them gambling with it all. Whole systems built on unstable ground with nothing to create checks and balances to keep things accountable. I’m not sure what solutions there can be since systems are all about subjectivity and consumer/producer confidence levels. There is no way to separate who gets affected so and the only way out is through working together instead of against each other.

[browneyedgirl]

http://www.reuters.com/article/topNews/ ... JK20081007

http://news.mobile.msn.com/en-us/articl ... d=27078582

The whole world is rushing to drop the dollar.
Also, in some circles talk of a worldwide common currency in the future is being seriously discussed.

The day of people living beyond their means to impress others is over. Now, its just getting by, surviving, and being thankful&happy for what you do have. Being frugal does not mean sacrifice, but a person does have to exercise common sense in how they spend money.
Save now, have later.

[AGAG]

Save now, have later.

That's not an option in here, you have to live that way.

[NeverendingAbyss]

That's not an option in here, you have to live that way.[/quote]

That's true. Personally, I blame the recession to global warming. This creates more hurricanes and houses are destroyed. Not only do we lose an unbelievable amount of money because of that, but insurance companies cannot pay the damage to all the houses at the same time.

[AGAG]

Well, this crisis was just a matter of time, world's economy is structured so clumsily and in such a stupid way...

[CottonCandy]

http://www.bloomberg.com/apps/news?pid= ... refer=home

Iceland has almost totally collasped economically.

[JensJohansson]

I believe this week's cover of The Economist sums it up ....

[Keyssion]

I believe this week's cover of The Economist sums it up ....

*picture*

Hahah I think I'd believe that too. Iceland really seems to be in some trouble. Luckily Finland has so far not suffered too much.

[NeverendingAbyss]

When people say that good times are coming, prepare for the bad times instead.

[stratoplayer]

I wonder if some politicians will try to make the best of this and try to pass legislation to limit the availability of credit and loans....

[icecab21]

while bootlegs can’t help create more, those 20 cents a song Russian websites can help spread the great messages in the music already out there. The more happiness people find with fewer resources the better

To me having the government help in research and development is a good thing as people can pool their resources to get things done without the short sighted sort term whim of the stock market getting in the way of incentives. We could have put money into solving energy problems and creating efficiency and making the most out of economies of scale, but now we have to pay trillions to fix a problem instead of spending to create development and solutions.

Too much is said of creating efficiency and too little is done. Too many theories are being passed with too much randomness to results and too many factors to make the theory’s scientific laws. Both presidential candidates talk as if they can actually have the power to change how Washington is run. I wonder what makes them think they will succeed when everyone has failed at making an efficient Washington. One side with have smart regulation to insure accountability as the solution, the other side talks about less regulation but more regulation as the same time. It’s great to know that one wanted to do with health care what has been done with banking. Who knows what they all want now?

[NeverendingAbyss]

Dow fell under 9000 points... tough luck

[browneyedgirl]

Russia is not having it so great, either.

http://biznes.onet.pl/7,1839974,wiadomosci.html

I hope that link is right.

If worse comes to worse I can cash in all my jelly jars which are full of quarters, nickels and dimes, plus the 2 gallon jugs of pennies I have hidden away.
Well, thats how rednecks get by don't cha know.

[icecab21]

if worse comes to worse usa dollor will hyper inflate

[browneyedgirl]

if worse comes to worse usa dollor will hyper inflate

yes, it could get worse which I hope it does not! I cringe now every time I read the news or watch it on TV. We all need to just think about happy things to help us get through this frightening period.

[NeverendingAbyss]

For those who are trying to buy new homes, wait for at least a couple years...

[browneyedgirl]

Poor George!

[AAAAAAAAAA]

if worse comes to worse usa dollor will hyper inflate

Will they still fit in my wallet?
HAAAAAAAAAAAHAHAHAHAHA

[icecab21]

I guess it’s the federal reserves way of making everyone a millionaire. If people can’t reach a bar, lower the bar unless they are playing limbo.

[CottonCandy]

IMF chief warns of global financial meltdown
http://news.mobile.msn.com/en-us/articl ... d=27129830

[NeverendingAbyss]

Bush and his leadership:

[browneyedgirl]

It will probably take 8 more years to clean the mess up.
BTW, although Obama wants us out of Iraq, he mentioned shifting troops to Afghanistan. WTF? Spending for war is spending for war!
I want my share of those taxes back!!!!!!!

[icecab21]

today was incredable for the stock market so i hope the rest of the week lets it catch back up to the normal number. investors today are having the day of their lives.

[NeverendingAbyss]

It will probably take 8 more years to clean the mess up.
BTW, although Obama wants us out of Iraq, he mentioned shifting troops to Afghanistan. WTF? Spending for war is spending for war!
I want my share of those taxes back!!!!!!!

I don't support the war in Iraq, but I do support the war in Afghanistan because that's where the taliban is supposed to be hiding

[NeverendingAbyss]

http://articles.moneycentral.msn.com/In ... ?GT1=33009

this is crazy...

[AGAG]

Oh yes, I'll get my money on there right away!

[icecab21]

with volitility this high we are going to get record highs and record lows. the other times the stock market jumped this high was doing the great depression.

[NeverendingAbyss]

The economy bounces up and down like MAD!