US Economy

O

Old Timer

Guest
How many people believe that we are headed for another great depression?

I believe that the economy in a downward death spiral and within the next 18 months it will be a full blown depression. Everything seems to be contributing to the downward spiral.
 
I don't know if we are that far along yet. If you look at the Carter years, the inflation %, interest rates, and unemployment % of that time, we are still nowhere near the numbers now that we were then.

But you are correct, I believe it could happen eventually.
 
Economy

If we are headed that way you might as well pull all of your money out of the bank and stock markets.
Then by gold, guns, and ammo lots of ammo or, primers, powder ,and bullets.
Remember without ammo all a gun is, a expensive club.
Rudy Manuel:eek:
 
During the Depression of the 1930s, was there a need for guns? Gold? Silver? I also thought that there was little to no inflation during that period. Simply a lack of money (employment) among a large percentage of the populace.
Having gold, silver, toilet paper, ammo, whiskey fuel reserves, etc. is a strategy to avoid the affects of hyper inflation, not survive times of Depression. The next President and Congress could send us on the path we saw about 30 years ago, with Carter, though.
Self sufficiency is the key asset to surving tough times. Avoiding unnecessary debt is also a very good idea.
 
Want to see where I'm conservative???

It looks more to me like a slow decline into a 2nd world country status unless we (1.) stop our corporations from selling us out to increase profits by exporting jobs, and (2.) convince our youth that they are not entitled to a high standard of living if they leave school with no marketable skills other than rapping, wearing their hats on sideways and their pants below their arses. There's an Indian or Chinese kid passing them in the fast lane while they are text messaging their posse about their latest violent video game Mommy bought them!! By the way, what dumb arse unreality show is on tonight?? :mad:

Want to see where I'm conservative? Here's a few areas!
 
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I agree with much of what Mr D said. I don't agree about the corps however. A corporation's job is to make money for its investors not subsidize some "what is the least I can do and stay on the payroll" drone. Actually, that is not the job of the gov'ment neither but it's a job the Dems have assumed so as to stay in office.
When Toyoto can make a car in Japan and pay for the shipping and import taxes and all other associated cost to bring it to market here and it still cost them less than the same car made in America, something is wrong. And Japan certainly isn't some slave labour, asian sweat shop country that the unions like to whine about.
We have priced ourselves out of competition.

Maybe we need to define depression.
 
The problem with the talk of a Recession is: That the very talk of a Recession causes individuals and companies to behave in a manner that brings about the very Recession that they fear.

If you stop your own discretionary spending, then those who you would have bought from start to see a Recession and stop their buying, in turn their suppliers begin to see a Recession and lay off workers, and the workers tell all their friends that they lost their jobs due to a Recession, and all their friends start to suck it in and cause even more Recession..... It's a dog chasing its tail issue. The only real solution is to shut up and get on with life. The media will in fact be the cause of any Recession that we see, because they make people start to fear spending money.....
 
I am more afraid of inflation then anything, I started my first gunshop in the 70's i got it going and was just starting to make it pay off when Carter came in, I had voted for him so I'll take part of the blame, with the high inflation rates people weren't spending money on toy's they were worried about the rising prices of food and gas and the loss of their savings. I stuck it out but it was a lean time for me, I became a Republican after that. Now I'm retired I sold my sporting goods stores for some good money and I have enough to last me for a few more years, but i know enough about business that if taxes go up you will see business close, or at least an increase in layoffs.

Corporations go overseas because of taxes and regulations more then the cost of employee wages. If we get the fair tax that will end.
 
My Mother and Father were married in Sept 31. That was about as depressed as it got. There was not a lot of inflation. The dollar was still tied to gold and it could not be printed like today.

My father told me at that time one could buy a pork loin for 50 cents. Problem no one had 50 cents to buy it with.

What would happen today with a store full of groceries and no one had any money?
 
It might

and might not. Market speculation drives most of it. Look what speculation has done to the price of gas. Saving as much as possible now, and cutting back on spending might be a good thing to do right now. It doesn't have everything to do with it, but the spending during time of war is a big culprit. Remember the fighting with America and the Brits? They finally agreed it was destroying the economy in both countries and put an end to it. They happen to be our greatest allies also. We have helped one another through tough times before, and we'll do it again.
 
Zenith

Beemanbeme

I think we may have priced ourselves out of the comp. However if we were not competing with third world countries that would not be the case.

We have just let too many jobs exit the country.
America needs to rely on America. Keep those companies and jobs here. If we let Zenith go to Mexico, (and they did in 1987 and I lost my job) then when we decide to make TV's here we have to compete with the Mexicans.

OT
 
langenc said:
My Mother and Father were married in Sept 31. That was about as depressed as it got. There was not a lot of inflation. The dollar was still tied to gold and it could not be printed like today.

My father told me at that time one could buy a pork loin for 50 cents. Problem no one had 50 cents to buy it with.

What would happen today with a store full of groceries and no one had any money?
Click to expand...

Yep,and President Hoover promised to put a car in every garage,he suceeded,there was no money to buy gas and no gas,so they put them in their garages.
Yep,i remember my granddad talk about buying a piece of meat for a nickle,double cola was 3 cents and eggs was the best thing to trade.
 
Mr. Koginam

I've been gone for two weeks, and didn't know you or know of you before I left, but with your mention of the fair tax, I believe we can be friends. I urge everyone to read both the fair tax books, the books themselves and not what someone wrote about the books, with an open mind. I believe that this program is the answer to impending recession, and to keeping jobs in this country. As I said, read the books, with an open mind, and I truly believe that the intelligent among us will be persuaded. It should not be a partisan issue, other than the fact than one party generally has a higher IQ level than the other. Mr. D. especially, I know you to be an intelligent, fair minded individual, and we have had this discussion before, so what about it? Well, glad to be back, Africa was great, the hunting, the hospitality, the food, everything. RUSTY CARR ( CAP LOCK IS STUCK)>
 
Good to see you back Rusty.

When you get time, tell us about your trip in a fresh post. Photos and all.

Concho Bill
 
Rusty

where in Africa? I spent many years there flying for Pan Am and had the opportunity to understand the African mind set and see that certain new policies here would make us Zimbabwe North. For those of you not familiar, that nation once fed the continent but now it is ruined with rampant inflation and food shortages---. figure out why, Friends. The climate, soil and markets have not changed--.

As to our state of affairs, Newsmax, 7 July 08 has a new article confirming that high oil prices are going to be a fact of life for us , US --unless of course--Mr. Change is going to change the Law of Supply and Demand. Government stupidity is the problem; not the answer; consequently the investment markets are going south--- as they go so go jobs. It is that painful and that factual.

Old Timer - a Good Job, Sir. Cordially, Overbore
 
There is so much out of anyone's control that there is no telling what the future holds. I think a period of higher inflation is inevitable.

Real wages need to increase because everything is costing more due to higher oil prices. When the wages increase somebody has to pay that money and it will be the consumer. This means that his higher wage will still have less buying power than before.

Disposable income will be the first thing hit. Then people start to lose jobs in the entertainment sector, hotel industry, travel industry, boating, hunting, shooting, etc. This will send big ripples out to the rest of the economy.

And what happens when the middle east finally blows up ? Somewhere along the way Iran will either be attacked or will get the bomb and use it directly or indirectly [ extortion ]. What is going to happen to oil prices then ?

How long before we start looking back at the Cold War as 'the good old days' ?
 
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