Fergasun Posted October 18, 2007 Share Posted October 18, 2007 I dunno why I wanted to start this, but it seems like our economy is tanking and no one is really talking about it. I think we're going to be in for a long winter... and 2008... it's already getting pretty ugly out there for many of the housing and financial companies... but it's definately going to spread. Link to comment Share on other sites More sharing options...
Fergasun Posted October 18, 2007 Author Share Posted October 18, 2007 Here is a graph of the dollar vs. the euro for the past 1 year. I wish I could graph the price of oil in euros... Link to comment Share on other sites More sharing options...
Larry Posted October 18, 2007 Share Posted October 18, 2007 I'll freely admit that I've been seeing things for the last year or so that make me worry that things are being artificially propped up. Which, in turn, causes me to become, well, I guess the term is Norvous, that what's happening is that the market is trying to turn down, and it's being artificially inflated, and that eventually, the duct tape is going to fail, explosively. OTOH, I know a lot less about the economy and international banking than I know about, well, almost everything. Link to comment Share on other sites More sharing options...
Larry Posted October 18, 2007 Share Posted October 18, 2007 Here is a graph of the dollar vs. the euro for the past 1 year. I'm also remembering all the people who, a year ago, were assuring me that "those foreigners (like China) who own a lot of our monstrous debt will never pull their money out of the US, because that would cause the collapse of the US economy, and that would hurt them, too." Link to comment Share on other sites More sharing options...
twa Posted October 18, 2007 Share Posted October 18, 2007 The housing and financial problems are simply a correction to bad business practices ...the market will adjust(especially with the Fed propping them up) with those markets that shot up unreasonably(Cali) taking the biggest hit. Oil prices? a result of stupidity by government and consumers. It will likely continue. This concludes the Poor Boys business report. Link to comment Share on other sites More sharing options...
Larry Posted October 18, 2007 Share Posted October 18, 2007 This concludes the Poor Boys business report. If you're so smart, why ain't you rich? (Am I wrong, or are doing a tag-team comedy routine through about a half a dozen threads, today?) Link to comment Share on other sites More sharing options...
twa Posted October 18, 2007 Share Posted October 18, 2007 If you're so smart, why ain't you rich? (Am I wrong, or are doing a tag-team comedy routine through about a half a dozen threads, today?) I'm too lazy to be rich,it takes too much work to protect your money when someones always after it. And Yes, I'm stalking you :flowers: Link to comment Share on other sites More sharing options...
GibbsFactor Posted October 18, 2007 Share Posted October 18, 2007 It's scary. My gold is secure. I'll say no more. Link to comment Share on other sites More sharing options...
Enter Apotheosis Posted October 18, 2007 Share Posted October 18, 2007 If the depression hits I'm robbing GibbsFactor first... who's with me? Link to comment Share on other sites More sharing options...
GibbsFactor Posted October 18, 2007 Share Posted October 18, 2007 If the depression hits I'm robbing GibbsFactor first... who's with me? Did I say gold, I meant copper. :paranoid: Link to comment Share on other sites More sharing options...
Ancalagon the Black Posted October 18, 2007 Share Posted October 18, 2007 Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted October 18, 2007 Share Posted October 18, 2007 Yup, its going to get ugly pretty soon. Honestly make sure you have some marketable, unoutsourcable skill, such as plumbing Everyone needs a plumber and will be willing to hire one Link to comment Share on other sites More sharing options...
zoony Posted October 18, 2007 Share Posted October 18, 2007 well this is a happy thread. Jees, it's like some of you have never heard of a recession. It happens. They last six months to a year. Not the end of the world. The economy will bounce back. And no, you don't need to sell everything you have, buy gold, open a plumbing business, and live in a bomb shelter :doh: Link to comment Share on other sites More sharing options...
Ancalagon the Black Posted October 18, 2007 Share Posted October 18, 2007 well this is a happy thread.Jees, it's like some of you have never heard of a recession. It happens. They last six months to a year. Not the end of the world. The economy will bounce back. And no, you don't need to sell everything you have, buy gold, open a plumbing business, and live in a bomb shelter :doh: The size of the recession is proportional to the size of the boom. We've had a nearly uninterrupted 16-year boom of phenomenal magnitude. Bomb shelter? No. But conservative investments, hedging against a falling US dollar and making sure your industry is safe aren't awful things to be thinking about. Link to comment Share on other sites More sharing options...
zoony Posted October 18, 2007 Share Posted October 18, 2007 The size of the recession is proportional to the size of the boom. We've had a nearly uninterrupted 16-year boom of phenomenal magnitude.Bomb shelter? No. But conservative investments, hedging against a falling US dollar and making sure your industry is safe aren't awful things to be thinking about. I remember a recession in 2000, at least for part of the year. And the US Economy has been growing at a rate of less than 5%. I think you need to choose a better term than "boom of phenomenal magnitude" ESPECIALLY when our population has been growing at about 1.5% yearly. Compare that to Chinese Economic growth of over 10%, and Japan's economy out-pacing the United States and the EU in 2005. Know what I think? I think you're happiest predicting this kind of stuff, for whatever reason. Link to comment Share on other sites More sharing options...
Ancalagon the Black Posted October 18, 2007 Share Posted October 18, 2007 From 2000 to 2001, the US economy grew by 3.17%--sharply down from the 6% of the previous year, but far from a major recession. The following year growth was up to 3.37%, and it's been past 4% since. China is an emerging economy; it has more room to grow. Japan's economy has been stagnant for fifteen years; outpacing the American economy for one period isn't that impressive. Combine this with the fact that a lot of growth has been due to the real estate boom, and I think we have a problem. I am far from happy predicting a US recession. I want the good times to continue. I want to be able to move back to the States and get a ridiculously high paying job one day. Link to comment Share on other sites More sharing options...
zoony Posted October 18, 2007 Share Posted October 18, 2007 see... that's why the US Economy always recovers. Optimism for the future and a can-do attitude. We kick the pessimists out, they end up in places like Australia (better watch it SHF... or of to Pakistan you go) Link to comment Share on other sites More sharing options...
Larry Posted October 18, 2007 Share Posted October 18, 2007 Did I say gold, I meant copper. You'll never catch me, copper. (If you say it like a pirate, you can get in two cliches at once.) Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted October 18, 2007 Share Posted October 18, 2007 see... that's why the US Economy always recovers. Optimism for the future and a can-do attitude.We kick the pessimists out, they end up in places like Australia (better watch it SHF... or of to Pakistan you go) :laugh: I always brag in these threads that I have created more jobs in the last 5 years then the previous 5 presidents combined I certainly have an outlook that hey, we as Americans will get through it just fine. However the numbers and the facts simply show that something ugly is going to happen And when it does, off to Dubai I go :laugh: Link to comment Share on other sites More sharing options...
zoony Posted October 18, 2007 Share Posted October 18, 2007 And when it does, off to Dubai I go :laugh: Speaking of speculative bubbles ready to burst... If you go to Dubai, don't bring any sharp objects. Link to comment Share on other sites More sharing options...
SkinsHokieFan Posted October 18, 2007 Share Posted October 18, 2007 Speaking of speculative bubbles ready to burst... If you go to Dubai, don't bring any sharp objects. I think that is debatable right now, mainly because the Emir over there is doing it right (of course its my humble opinion only) He is spending billions on the infrastructure. He has made doing business there tax free. Workers making less then 80k are not taxed, so you are getting some very bright people to go over there, and the population is still small at about 1.3 million in the emirate. Oil accounts for only 6 percent of GDP So short term, 5-10 years, I think its a sound place to be. Now I'd rather not spend much more time then that in a 120 degree desert and like it here much more better, but why not head over there and clean up for a few years? Link to comment Share on other sites More sharing options...
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