Great Depression coming

[trish]

clinton...More like just a slick talker

Nothing slicker than a TEN YEAR BUDGETARY SURPLUS.

Nothing more idiotic than flushing it down the toilet.

[OneCoolGuy]

It's not coming but what is going to happen is all part of a one world government plan. This is the step to introduce the amero. Hope you people have your hearts in the right place cause things are going to get bad.

[Maximus25]

Wow I never thought I'd see the day when we would start talking about economics on HA but our economy is shitting the bed and everyone is worried. Now I do not think what we have is a 1930s style depression on our hands. From Economic journals I've read and talking to my current econ profs I say our situation is more similar to either stagflation of the 1970s or Japan's real estate and credit bubble bust in th early 1990s. Both of these situations were really bad. In the case of Stagflation, we had high inflation and negative economic growth.
As of right now, the Fed has cut every interst rate at its disposal (i am being a little facisious) to boost the economy and calm markets but at the same time inflation keeps rising. Inflation on consumer goods is up by 4% since last year and our CPI is at its lowest in over 6 years. However, I think our situation resembles Japan in the early 1990s. When their bubble their economy went into a tailspin and they were in recession for the next 14 years-yeah absurd! There is a great Economist article on this btw from 2 or 3 weeks ago.
The problem with the Great Depression analogy is there is not as much trade protectionism as there was during the 1930s. One of the reasons why the Depression was so severe was due to the Smoot-Hawriff Tarrif act and there is nothing like that in Congress. We are still trading in the global economy and freely I may add. The real question about the solvency of our economy and the financial system is whether we should embrace a Keyensian outlook and embrace regulation and spending on public works such as infrastructure. These are some tough times ahead.

[TSCURIOUS]

I guess Bush told the Mortgage industry to sell those BS mortgages? I guess Bush is setting gas and oil prices now. Oh - Bush also screwed Bears Stearns too. FUCKING MORONS! You MORONS are saying to stop spending but you're all out there with your grubby hands out looking for a handout and bailout. I save, live within my means and I can't wait until the market corrects itself so I can invest low and make a few coins. Stop blaming politicans and start looking at yourselves! When I was out of work, i didn't go on unemployment - I saved my money and got another job to make ends meet.
Wait until Obama gets in office - 28% Capital Gains!! 52% Income Tax You'll all be fucked (taxed) so much it'll hurt so bad you won't need a dick in you! Then what are you going to say? Universal Health Care? Why do the fucking Canadians come to this country to get better doctors?? It does not work! Heart attack in Canada? Good Luck! Heart Transplant? You're dead!
Just my .02 worth.
Enjoy your day!

[south ov da border]

republicans were democrats and democrats were republicans 150 years ago. That being said, you REALLY think that either party is going to fix anything?

The clintons did so many bad things for policy that they had to keep us entertained with his whole monica lewinsky thing. The aproval ratings for him were high, because he kept us distracted. Under him happened, World Trade Center episode 1, Oklahoma City, The invention of department of homeland securtiy before it became popular, and many other schemes and things that paved the way for Bush to reep the benefits laid before him. These are all corporate people. The issue won't just end because voters come out. These people have to sell out to a certain extent just to make it this far in the game. There's not going to be a saviour as it stands now.

WE NEED A NEW WAY OF DOING THINGS. Not a new System- which is latin for sewer, odd the words that have system attached to them resemble systems in function, right?

THey will just keep printing more $$$ which have no REAL VALUE, only a determined worth based on factors which aren't tangible.

EVERYONE BETTER START LOVING EACHOTHER AND COME TOGETHER. We need a change in our collective conscious.

[TSCURIOUS]

"The clintons did so many bad things for policy that they had to keep us entertained with his whole monica lewinsky thing. The aproval ratings for him were high, because he kept us distracted. Under him happened, World Trade Center episode 1, Oklahoma City, The invention of department of homeland securtiy before it became popular, "

The Clinton were useless. He single handily destructed all the defense systems Reagan put in place - then yes - World Trade Center 1, US Cole, Oklahoma City and others.

And back to my higher taxes rant - read this!

Based on using the actual tax tables (see link below), here are some
examples on what the taxes were/are on various amounts of income for both
singles and married couples. so let's see if the Bush tax cuts only helped
the rich. http://www.taxfoundation.org/publications/show/151.html

Taxes under Clinton 1999 Taxes under Bush 2008

Single making 30K - tax $8,400 Single making 30K-tax $4,500

Single making 50K - tax $14,000 Single making 50K-tax $12,500

Single making 75K - tax $23,250 Single making 75K-tax $18,750

Married making 60K - tax $16,800 Married making 60K-tax $9,000

Married making 75K - tax $21,000 Married making 75K-tax $18,750

Married making 125K - tax $38,750 Married making 125K-tax$31,250

If you want to know just how effective the mainstream media is, it is
amazing how many people that fall into the categories above think Bush is
screwing them and Bill Clinton was the greatest President ever. If any
democrat is elected, ALL of them say they will repeal the Bush tax cuts and
a good portion of the people that fall into the categories above can't wait
for it to happen. This is like the movie The Sting with Paul Newman; you
scam somebody out of some money and they don't even know what happened.

[dgtlmstry]

republicans were democrats and democrats were republicans 150 years ago. That being said, you REALLY think that either party is going to fix anything?

The clintons did so many bad things for policy that they had to keep us entertained with his whole monica lewinsky thing. The aproval ratings for him were high, because he kept us distracted. Under him happened, World Trade Center episode 1, Oklahoma City, The invention of department of homeland securtiy before it became popular, and many other schemes and things that paved the way for Bush to reep the benefits laid before him. These are all corporate people. The issue won't just end because voters come out. These people have to sell out to a certain extent just to make it this far in the game. There's not going to be a saviour as it stands now.

WE NEED A NEW WAY OF DOING THINGS. Not a new System- which is latin for sewer, odd the words that have system attached to them resemble systems in function, right?

THey will just keep printing more $$$ which have no REAL VALUE, only a determined worth based on factors which aren't tangible.

EVERYONE BETTER START LOVING EACHOTHER AND COME TOGETHER. We need a change in our collective conscious.

I have agreed with all of your last 3 posts. I think you have hit it right on the head. Political parties and wars are not going to change or stop the inevitable. And it is only inevitable because we have chosen it to be.

[Quinn]

Wow I never thought I'd see the day when we would start talking about economics on HA but our economy is shitting the bed and everyone is worried. Now I do not think what we have is a 1930s style depression on our hands. From Economic journals I've read and talking to my current econ profs I say our situation is more similar to either stagflation of the 1970s or Japan's real estate and credit bubble bust in th early 1990s. Both of these situations were really bad. In the case of Stagflation, we had high inflation and negative economic growth.
As of right now, the Fed has cut every interst rate at its disposal (i am being a little facisious) to boost the economy and calm markets but at the same time inflation keeps rising. Inflation on consumer goods is up by 4% since last year and our CPI is at its lowest in over 6 years. However, I think our situation resembles Japan in the early 1990s. When their bubble their economy went into a tailspin and they were in recession for the next 14 years-yeah absurd! There is a great Economist article on this btw from 2 or 3 weeks ago.
The problem with the Great Depression analogy is there is not as much trade protectionism as there was during the 1930s. One of the reasons why the Depression was so severe was due to the Smoot-Hawriff Tarrif act and there is nothing like that in Congress. We are still trading in the global economy and freely I may add. The real question about the solvency of our economy and the financial system is whether we should embrace a Keyensian outlook and embrace regulation and spending on public works such as infrastructure. These are some tough times ahead.

Maximus, great analysis. The Great Depression analogy is wrong for a number of reasons, not the least of which is that we aren't currently on the Gold Standard (Friedman had it right).

-Quinn

[south ov da border]

maximus is correct, just some more media fearmongoring, but not really based on an honest comparison.

Simpy put, when you play monopoly it doesn't matter how much cash you have when the game is over right? The only worth it has is during the game. Same can be said for the dollar. Funny how many people play that game and don't understand how true it is.

If people knew what REALLY lie ahead in this way of governance, they would be a lot more worried. I really feel that only supernatural intervention is the only savior. Be it ascention or rapture, mass landing, whatever you do or don't believe in.

I feel like we have too many choices and comforts to do what is best for the people as a whole. Something needs to come in and show us how much of a bigger picture there is.

The people I do speak with about these things say I remind them of Huey from the boondocks. I used to have a big afro too, so I guess it fits...

[trish]

I see...borrowing six trillion dollars from the Chinese to watch it spiral down a toilet of a war in the Middle East has absolutely nothing to do with the devaluation of the dollar. Putting anti-regulationists in charge of regulating banks has absolutely nothing to do with the collapse of the subprime. A continued policy of spend spend spend but never tax has nothing to do with our current circumstances. It's all Bill Clinton's fault. Yeah.