The future state of the United States economy (NWS image in thread)

clevohardcore - 9-22-2008 at 08:22 PM

I am not optimistic. I am not an expert, but things do not seem to be heading in the right direction very quickly.

defstarsteve - 9-22-2008 at 08:43 PM

I have just watched shit get worse and worse...

MarkV - 9-22-2008 at 08:53 PM

it will get better. The economy goes in cycles. Things got better after the Great Depression, they'll get better again.

SS76 - 9-22-2008 at 09:07 PM

i agree with the scatqueen

defstarsteve - 9-22-2008 at 10:09 PM

start collecting hope in one hand and shit in the other
whichever fills up first is what you will get out of this economy

clevohardcore - 9-22-2008 at 10:36 PM

DISGUSTING

Siczine.com - 9-22-2008 at 10:37 PM

I don't have high hopes. Really, the best you can hope for is for things to go back to "things us usual," and that isn't good either. I think you need you need some corporations to fall, it's bullshit that the big companies get a free pass if you will, when the average joe gets put on the street if he mismanages his money.

clevohardcore - 9-22-2008 at 10:51 PM

Quote:

Originally posted by Siczine.com
I don't have high hopes. Really, the best you can hope for is for things to go back to "things us usual," and that isn't good either. I think you need you need some corporations to fall, it's bullshit that the big companies get a free pass if you will, when the average joe gets put on the street if he mismanages his money.

^^^^^^^ SO FUCKING TRUE. The Republican regime is the first to say. You made the mess now get YOURSELF out of it. Well when they make the mess WE bail them out of it. Every fucking time and it really fucking burns this time around more than ever. These fucks are STILL even though they get out of this debt THEY STILL get the big severance packages and bonus'. Why the fuck no one is going off about this is beyond me.

I know what do you do? I have no idea but something.

Siczine.com - 9-22-2008 at 11:00 PM

I would rather have the $700 billion that they are going to give away to all these big corporations to the general people in the way of schools and health care. I understand there are ramifications if the big, giant lenders fall but let them. let them fall hard. They and the rich made their bed, let them lay in it. The average American will suffer more in the long run from bailing these companies out than if we let them fall on their face. I am sick and tired of hearing people say that if don't save these companies it will be the end of America's economy. Let the shit fall and rebuild itself, it will be a helluva lot better for the average American than this bullshit.

DaveMoral - 9-23-2008 at 01:09 AM

wait a minute. Why do I have a vote all for myself? I mean, I'm flattered but I'm baffled why number 2 doesn't apply to me. Only I'd say not just the entire country, the entire WORLD. That's how it's looking.

CR83 - 9-23-2008 at 12:27 PM

I am an optimist and I hope things will start turning around. I think our country needs to focus more on ourselves, our needs and our domestic issues vs. trying to "help" other countries. The focus needs to be more internal now. It is time to repair. We need a uniting cause, the war has not united us. We support our loved ones in battle but I'm not sure our country is behind the war "effort".

UNITY!

moron - 9-23-2008 at 01:17 PM

Things will work themselves out. Having the government bailing out these banks isn't ideal and it might not even be the ultimate solution, but man... I can't imagine what it would be like if those banks just went belly up.

As for the CEOs and the other heads of those banks who made bad decisions, I had heard on the radio that THEY won't be helped by the government or bailed out. What that actually means... I don't know, but supposedly they're being held accountable.

Either way, things will work out eventually. This isn't the first crisis the economy has had to deal with. I think lots more people are gonna be hurting before this is over, but it's not the end of this country. In the end Im sure some good will come out of all of this in terms of a more stable banking system and less risky lending practices.

MarkV - 9-23-2008 at 03:31 PM

If those big corporations/banks, etc went completely tits up, this country would be more fucked than any of you could possibly imagine.

moron - 9-23-2008 at 04:39 PM

here's some info I stumbled upon about the potential bailout proposal:

http://money.aol.com/news/articles/_a/bbdp/details-of-bailou...

(Sept. 23) -The Bush administration is asking Congress for $700 billion to buy up troubled assets from financial institutions. Congressional Democrats are proposing to add several limits and requirements. Here are the main elements of both plans:
Bush administration plan:
- Give the Treasury secretary broad authority to buy up to $700 billion in troubled assets from any financial institution if he decides, in consultation with the chairman of the Federal Reserve, that it's necessary for market stability.
- Raise the $10.6 trillion statutory limit on the national debt to $11.3 trillion.
- Allow the Treasury secretary to buy, hold and sell the assets in any way he sees fit. That includes the ability to go outside normal government contracting practices to hire private companies to manage them.
- Require the government to report to congressional budget, tax-writing and financial services committees within three months of using the authority and every six months thereafter.
- Shield rescue program from judicial review.
- Expire two years after enactment.
House Democrats' proposed changes:
- Require that companies benefiting from the bailout don't give so-called "golden parachutes" to executives and have rules to revoke bonuses awarded based on bogus claims.
- Allow the government to take an equity stake in participating companies to share in future profits.
- Require that the government draft a plan to renegotiate the mortgages it purchases to help homeowners avoid foreclosure.
- Allow judges to rewrite the terms of bankrupt homeowners' mortgages so they can afford to stay in their homes.
- Create a congressional oversight panel to scrutinize the rescue program and subject it to court review.
- Limit the program to financial institutions with "significant operations" in the United States and exclude foreign central banks and companies owned by foreign governments.

JawnDiablo - 9-23-2008 at 08:48 PM

I deleted the shiteater so yous can look at it at work.
my bad.

DaveMoral - 9-24-2008 at 02:53 AM

^Thank you.