#1442664 - 04/06/08 03:31 AM
This hold any truth?(financial stuff)
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delanisdjd
Over the Hill
Registered: 03/18/03
Posts: 1422
Loc: Lakeland , FL
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I just got done reading an article titled;
"How to survive the Great Depression of 2008 - 2009"
By Bob Hoffman
I really don't know what to think of it.Does any of it hold weight or is it some nut job rambling?
link; http://www.politicalgateway.com/news/read/140497
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#1442864 - 04/06/08 12:10 PM
Re: This hold any truth?(financial stuff)
[Re: Ryan81986]
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PantherP73
Over the Hill
Registered: 06/19/05
Posts: 4660
Loc: Southwest PA
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Nor is the economy anywhere near booming, either.
_________________________
 2004 Ford Crown Victoria P73- The Beige [censored] 3.73 gears, track-lok, Marauder airbox, 80 mm MAF, '04 PI zip tube, 70 mm throttle body, ported intake plenum, dual exhaust, Xcal 2 with 91 octane tune, 10" 3600 rpm stall torque converter, B&M auxilary transmission cooler, j-mod, aluminum driveshaft, one step colder spark plugs, 180 degree thermostat, 21 mm rear swaybar, 235/60 R16 Michelins, Powerslot rotors with Hawk HPS pads, 700 watt stereo system, custom interior work. Best ET: 14.94 @ 89.77 with a 2.06 60'. Beige [censored] profile video
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#1442877 - 04/06/08 12:23 PM
Re: This hold any truth?(financial stuff)
[Re: Moby_Vic]
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AKA_Rizzo
Posting Addict
Registered: 03/06/04
Posts: 21438
Loc: Romulus,MI
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Use 3 tbsp per gallon of water.
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#1442891 - 04/06/08 12:36 PM
Re: This hold any truth?(financial stuff)
[Re: JohnnyMac1]
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2000_cvp71
Member
Registered: 11/11/04
Posts: 473
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Ha, the guy says oil is going back to $34 a barrel. He needs to stay off the crack.
_________________________
1989 CVLX. 5.0
2006 PI rear springs, 2002 PI rear shocks, 2002 PI front springs and shocks, 225/70/15 Cooper Cobra Radial GT's.
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#1443074 - 04/06/08 05:03 PM
Re: This hold any truth?(financial stuff)
[Re: 2000_cvp71]
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CathyInBlue
Over the Hill
Registered: 10/16/07
Posts: 4402
Loc: Terre Haute, IN, USA
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The issue with the real Great Depression was a circa 20% unemployment rate. We're hovering at 5%. 1930s, 2008, not remotely comparable... other than the federal [censored] government is following the playbook it wrote in the 1930s to seemingly be driving the economy toward depression. You don't bail out failed financial experiments. Sub-prime mortgages? Let them fail. It will teach all concerned an important lesson. Bail them out, and everybody learns another lesson, there are no bad consequences to bad financial ideas/deals, so go out and make MORE OF THEM.
The Federal government's bail out of Bear Sterns was textbook out of the run-up to the Great Depression.
_________________________
1988 Ford Escort Pony 4-spd Eeyore (died of old age)
1993 Ford CVLX Ol' Blue (technicly totalled, now parts car)
1981 Suzuki GS550LX Blue on Black (eBay Special, still cleaning it up)
2003 Ford CVPI Morgan (former Morgan Co, IN sheriff's cruiser)
"The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man." -- George Bernard Shaw
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#1443205 - 04/06/08 07:16 PM
Re: This hold any truth?(financial stuff)
[Re: CathyInBlue]
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rbohm
Over the Hill
Registered: 12/22/01
Posts: 1121
Loc: tucson,az/luray,va
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a lot of bad advice for this day in age. remember that prospective employers look at your credit report, among other things, to determine if you are a responsible person. a bad credit report means that the good job you were looking at is gone for you. you will be stuck working at micky d's flipping burgers for 7 years before you can get back into the industry you were working at. congress is to blame for the sub prime lending market, and the lenders themselves are to blame for arm's, interest only payments(with the required balloon payment 10 years in), etc. but we also have to blame the people who signed the mortgage for more than they were able to pay back, ever. there is plenty of blame to go around, but the outlook isnt as bleak as he portrays. in 1929 the stock market was wildly overvalued, and credit was wildly overextended. taxes were going up, as were interest rates, since the economy was overheating. also the US economy wasnt the only one in trouble. europes economy was tanking along with japan and south america. at that time the US economy was proping up the world economy, and we couldnt keep it from collapsing. when it did, it took ours with it. these days other economies around the world are in decent shape, though slowing due to the drag caused by the US dollar. once we get over the rough spots, assuming we can keep congress from screwing things up even more, our economy will bounce back, and yes oil prices, along with gold and silver prices will fall, but not as fast or as far as this guy thinks.
_________________________
64 falcon
66 mustang
77 olds delta 88
dont just believe in miracles, rely on them.
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#1443240 - 04/06/08 08:11 PM
Re: This hold any truth?(financial stuff)
[Re: CathyInBlue]
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DodgeRider
Formerly 2004CVPIDave
Over the Hill
Registered: 03/18/05
Posts: 3977
Loc: Kansas City
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The Federal government's bail out of Bear Sterns was textbook out of the run-up to the Great Depression.
Pure ignorance... do some more research Cathy. The government did no such thing. The government only provided special funding for JPM Chase... but didn't bail out Bear Stearns.
_________________________
Real men do it in 4 doors! - 1991 Suzuki Katana 750 (Cyan/Magenta) - 21K - 748cc, 13,000RPM 2006 F150 SuperCab 4x4 (Black) - 55K - 5.4L 3V, 3.73 LSD, Chrome Pkg 2005 Chebby Malibu (2.2L) - 65K - Lady's Car (Mods: RainX, Winter Washer Fluid, Anco Wipers)
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#1693175 - 02/19/09 01:08 PM
Re: This hold any truth?(financial stuff)
[Re: DodgeRider]
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delanisdjd
Over the Hill
Registered: 03/18/03
Posts: 1422
Loc: Lakeland , FL
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