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Discuss what's fucking going on, and which programs are best and worst. One-time "program" announcements from "established" webmasters are allowed. |
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#1 |
Downshifter
Industry Role:
Join Date: Dec 2002
Location: Road trip
Posts: 16,413
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Worst of financial crisis yet to come: IMF chief economist
Time to pack, go to a cheaper palce, shove canned food in the storage, buy couple guns and sit tight surfing porn till it comes.
"The worst is yet to come," Blanchard said in an interview with the Finanz und Wirtschaft newspaper on Saturday, adding that "a lot of time is needed before the situation becomes normal." Will it ever be like before? Nothing changed to good after 9/11. This start-up is dying. http://timesofindia.indiatimes.com/B...ow/3746893.cms
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#2 |
Fake Nick 1.0
Industry Role:
Join Date: Oct 2005
Location: Rent free, your head
Posts: 27,655
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The IMF IS the problem. How can you not have funds when all of it is fake. All this fuckwit is doing is warning you they aren't going to solve the problem.
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#3 |
ICS Graphics Dude
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Join Date: Aug 2006
Location: SACTO
Posts: 3,438
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The current economic situation isn't as bad as you are being told... the ecomony was in FAR WORSE shape in the mid 80's!!!
People have such short term memories... I guess some more econ & history would have been beneficial in school.
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#4 |
Downshifter
Industry Role:
Join Date: Dec 2002
Location: Road trip
Posts: 16,413
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Ive been thru that asslike '98 one so im fucking scared of this deepshit news. Our currency is going to drain losing 5% each day comparing to US dollar.
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#6 | |
ICS Graphics Dude
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Join Date: Aug 2006
Location: SACTO
Posts: 3,438
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Quote:
Things could get really bad... if the governements continue to try to fix things through regulation, then it will stay worse for even longer. The thing to be weary off, is if we continue to see this recession turn into serious deflationary phase. If thats the case, I would not be surprised to see 15-20% unemployment in the USA. There will be companies closign down left and right.
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Was a graphics master for Lensman @ Adult.com but now... I can't tell ya cause it aint top secret. ........... DOUGRIDLEYDESIGNS [email protected] ICQ: 303-498-056 skype: whiplashdug |
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#7 |
Too lazy to set a custom title
Industry Role:
Join Date: Oct 2006
Location: Earth
Posts: 30,986
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makes one wonder why the chief economic officer is saying this type of thing. Thought they'd all have gag-orders
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#8 | |
Too lazy to set a custom title
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Join Date: Oct 2006
Location: Earth
Posts: 30,986
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Quote:
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#9 |
Confirmed User
Join Date: Nov 2007
Posts: 937
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The depression WAS the fix.
The fix to a bloated economy that was created by the US printing more money than it actually had. The depression was caused ( On purpose ) by the fed taking money out of circulation, by the end of it there was $14 for every man, woman, or child. but much like today, that wasn't spread evenly, Some had fortunes while others starved. After they got everything back under control, they printed amounts that were more realistic and "fixed" the depression. |
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#10 |
Vidi Vici Veni
Industry Role:
Join Date: Nov 2002
Posts: 6,308
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The next great depression is coming. Accept it and prepare.
I prepared 3 years ago when I moved to Panama. ;-) |
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#11 |
So Fucking Banned
Join Date: Oct 2008
Location: philly
Posts: 5,099
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The great depression lasted till 1940. Black Friday was 1929... long ass fix man. No shit though the economy is big time in the pooper
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#12 |
Fake Nick 1.0
Industry Role:
Join Date: Oct 2005
Location: Rent free, your head
Posts: 27,655
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This is going to be a bit different than the depression. I'll tell you the way I see it playing out if we don't put a stop to it. As of right now the Federal Reserve (a private bank) holds 80% of the US mortgage loans right now (in leu of the government). Once they unload this next round they will be in the mid to high 90's. They will flood the market with cash. This will throw the prices of goods into hyper-inflation. Those that did prepare or had homes paid off will have to draw on those homes to live. Those that didn't will default. Eventually all resources tapped. Everyone is dependent on the Government.
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#13 |
Registered User
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Join Date: Feb 2006
Posts: 22,511
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it's funny how the date of the recovery keeps getting bumped back. we'll find ourselves in 2018 and still in a recession ...
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#14 |
So Fucking Banned
Join Date: Oct 2008
Location: philly
Posts: 5,099
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#15 | |
Confirmed User
Join Date: Jan 2005
Location: Chicago, IL
Posts: 8,452
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#16 | |
Ah My Balls
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Join Date: Feb 2007
Location: Under the gold leaf ICQ 388-454-421
Posts: 14,311
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Quote:
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#17 | |
frc
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Join Date: Jul 2003
Location: Bitcoin wallet
Posts: 4,663
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Quote:
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#18 |
Moo Moo Cow
Join Date: Mar 2004
Location: Washington State
Posts: 14,748
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Strange, I don't remember any banks failing in the 80's.
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#19 | ||
Confirmed User
Join Date: Oct 2003
Posts: 1,653
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Quote:
So whatever the govt says the unemployment rate is, add several percent ... and the mismatch between the govt stated rate and real rate of unemployment will likely grow even larger next year ... ie. say hypothetically in Mar-2009 the govt reports 8%, the actual will likely be more like 15% ... And unemployment numbers don't include under-employment ... add that in, and the unemployment rate is even worse. Bottom line is that 1980s high levels of unemployment is much closer to reality than many realize. Quote:
Back in the 1980s, an experienced accountant / financial analyst could look at most any bank and determine with much confidence what their assets and liabilities were. Fastforward to now ... even the best and brightest in the business can't make heads or tails of what the status of many banks are; even the banks themselves often have no idea. Speaking of the 1980s, the government loan (bailout) of Chrysler back around then (1979; repaid by 1983) to the tune of around $1 billion (that amount even in 2008 dollars would still be single-digit) was a very big deal. These days, the government is handing out tens, even hundreds, of billions every week as if it's just another routine thing. I remember the 1980s very well - what we're experiencing now is very different, and likely will end being up far worse. Ron
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#20 |
Confirmed User
Join Date: Jan 2004
Location: Uranus
Posts: 2,808
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Lots of crazy ideas out there. The fact is that the global financial system has fundamentally changed. Things are looking extremely, extremely grim.
The best advice I can give out is that if you haven't closely been following the economy for the past 2 years, be extremely cautious. The mass market stuff is pure bullshit (Fortune magazine, Henry Paulson.) |
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