EPTUS Economy: How worried are you?? - Page 2
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MiniRoman
Canada3953 Posts
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Jibba
United States22883 Posts
http://money.cnn.com/2008/07/15/markets/oil/index.htm When the oil market does crash, like the housing and stock markets did, it'll likely be a tremendously good thing for our economy. | ||
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QuanticHawk
United States32075 Posts
On July 16 2008 02:01 Jibba wrote: http://money.cnn.com/2008/07/15/news/economy/senate_banking/index.htm http://money.cnn.com/2008/07/15/markets/oil/index.htm When the oil market does crash, like the housing and stock markets did, it'll likely be a tremendously good thing for our economy. The oil drop today seems like more of a correction than anything. With the way the prices had been inflating over the last few months, a drop to a more realistic number was a matter of time. But I really can't see how the oil market would crash, unless we suddenly got a new, viable source of energy that didn't cost a gazzilion dollars? If anything, it seems like it would just continue going up, or at best, come down a lttle and stabalize | ||
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Boblion
France8043 Posts
 .Euro is rising so it makes my poker br bigger. That is cool. | ||
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Hitokiri
Spain306 Posts
On July 16 2008 01:02 {88}iNcontroL wrote: Wow you are so fucking bad ass. ROME IS BURNING (and other epic quotations signifying an awesome stance on crumbling economies or "empires") Nero did nothing and blamed others...sound familiar? | ||
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useLess
United States4781 Posts
so ya, its something to worry about, but im not gonna worry about it | ||
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Caller
Poland8075 Posts
On July 16 2008 01:05 nA.Inky wrote: Thanks InControl, you are so fucking badass too! I'm just an realistic optimist, that's all. We can all mourn the fact that we will all die one day, or be glad to be alive today. I'm excited to be alive at such a crazy point in the history of the world. Happy to be a witness to it. here's an idea live forever using biotechnology problem solved actually life extentionist therapies are set to come about in the next 10 years or so according to this guy who i forget whom advocates these therapies As for the economy, it's screwed. It's been screwed for a while, and trying to keep everything afloat is just going to throw us deeper down the gullet. I'm going to be a university student though, and possibly pre-med, so idc. But Obama and Mccain are going to f*ck up the economy no matter who wins. One will make everybody poor and support foreign regimes, the other will oust foreign regimes and make everybody poor. The best government is one that doesn't do anything and leaves us alone. and anyone that blames the great depression on market forces clearly hasn't examined all of the government interference that led to the credit boom. Same with the 1980's crisis, and now today. edit: there is still a shit load of oil out there. There's like, 4.6 trillion barrels in the North American landmass alone, and the only reason we haven't gotten that far yet is b/c we're a few steps short of technology that will get over it. I'd also like to point out that market forces favor environmentalism. People tend to buy from more "eco-friendly" companies, even if it costs a little bit more, so thus companies will lean towards being eco-friendly and the environment will improve overall. What damages the environment? Government subsidies to allow companies to get away with damaging the environment, and overzealous environmentalists that hail a "solution" (i.e. biofuels. Oh wait, why do we suddenly have a water shortage in California and a food shortage in Europe?). | ||
Bill307
Canada9103 Posts
So the US gov't, which is already trillions of dollars in debt thanks to Bush's 2 terms, is now giving or lending out money to these mortgage companies which are also in debt or heading towards it? | ||
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QuanticHawk
United States32075 Posts
On July 16 2008 02:23 Bill307 wrote: Let me see if I understand this... So the US gov't, which is already trillions of dollars in debt thanks to Bush's 2 terms, is now giving or lending out money to these mortgage companies which are also in debt or heading towards it? Yeah, that's why I bolded it. It fucks us, I'm pretty sure the result of not doing it would completely fuck out country in a way that couldn't be repaired for a long time. Half of the country's mortgages would be bad. | ||
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Jibba
United States22883 Posts
On July 16 2008 02:19 Caller wrote: Take your pick of explanations. The Hawley-Smoot tariff was obviously a big mistake, but everything else is up for debate. and anyone that blames the great depression on market forces clearly hasn't examined all of the government interference that led to the credit boom. Same with the 1980's crisis, and now today. edit: there is still a shit load of oil out there. There's like, 4.6 trillion barrels in the North American landmass alone, and the only reason we haven't gotten that far yet is b/c we're a few steps short of technology that will get over it. I'd also like to point out that market forces favor environmentalism. People tend to buy from more "eco-friendly" companies, even if it costs a little bit more, so thus companies will lean towards being eco-friendly and the environment will improve overall. What damages the environment? Government subsidies to allow companies to get away with damaging the environment, and overzealous environmentalists that hail a "solution" (i.e. biofuels. Oh wait, why do we suddenly have a water shortage in California and a food shortage in Europe?). It's really up to Congress and the Fed not to fuck up the economy and halt a recovery, not the next president. And I trust the Fed far, far more than I trust Congress. | ||
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himurakenshin
Canada1845 Posts
I'm not worried at all, because in people didn't realize, the US's economy is miles ahead of every other nation out there, and incase you didn't realize, the US is run by friggin geniuses. If anybody actually thinks that the government is run by the president, then I guess you really don't know much about how countries are run. America just invaded a country and did what they wanted to do regardless of what any other country said, including the United Nations. The US just wants you to think that the "stupid" George W. Bush , or the president actually runs the country. In reality, the President does little at all as far as the country is concerned. He is just a figurehead, just like the King or Queen of England. Also note, I'm not directing this at anyone, so please nobody take offense to this. | ||
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KwarK
United States42973 Posts
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Zalfor
United States1035 Posts
give it a year or two. [edit] but everyone should care because the US economy effects the world economy. | ||
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Piste
6179 Posts
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a-game
Canada5085 Posts
-------- regarding the OP: i kind of agree with inky in so far as i am excited at the prospect of some much needed turnover - but i'm very sobered by my worry about myself and my family being able to make ends meet, going forward. pinch hasn't hit me too hard yet but i suspect it will reach here soon enough =/ ----- himurakeshin - for me anyways i've never doubted the 'intelligence' of the US government. what i doubt is their sanity. | ||
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Caller
Poland8075 Posts
On July 16 2008 03:00 a-game wrote: caller i agree biofuels are dumb, on another point though how can a customer verify a products claimed eco-friendliness without government regulations? -------- regarding the OP: i kind of agree with inky in so far as i am excited at the prospect of some much needed turnover - but i'm very sobered by my worry about myself and my family being able to make ends meet, going forward. pinch hasn't hit me too hard yet but i suspect it will reach here soon enough =/ ----- himurakeshin - for me anyways i've never doubted the 'intelligence' of the US government. what i doubt is their sanity. If you had asked that 40 years ago, the answer would be you're right. If you ask that now, we have the internet. More importantly, how do we know what the government regulators are seeing, i.e. corruption? | ||
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Ancestral
United States3230 Posts
On July 16 2008 01:09 SwaY. wrote: I'm a hippy, therefore I am more worried about global warming. I don't know if you're serious or not, but so am I. Worried about large particle pollution, emissions, the ozone layer, carbon dioxide, diminishing natural resources, as well as trash. | ||
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DoctorHelvetica
United States15034 Posts
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Funchucks
Canada2113 Posts
When this happens in other countries and in the past, commerce breaks down. The economy falls apart because nobody can figure out how to trade without money. But that's not going to happen in the USA. There will be some emergency measures, and a general mess for a few months (during which nobody will actually starve), and after that, people will have switched over to an electronic system for trading diverse valuables such as commodities and stocks. Meanwhile, the American government will have printed up as many worthless dollars as it needs for itself, and given away as many dollars as its citizens need for everybody to get out of debt. It has always held this option in reserve, and it will exercise it when it is necessary or advantageous. In the end, the US economy will be working better than ever, on a sound rational basis and starting from a debt-free clean slate, and the world will quickly follow the new model (places such as the EU and Canada will make the transition in an orderly fashion, without the temporary emergency in the US). The technology's there. We don't need fiat money anymore. All we need is a crisis to force the transition. The crazy universal debt spiral can end, and the sooner it does, the better. I am optimistic that we are approaching that time. | ||
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Nitro68
France470 Posts
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