Economy Status
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Originally Posted by Jimmies,Nov 24 2008, 11:48 AM
It is really, really bad and for a lot of reasons.
-housing is in a terrible slump, and will only get worse
-banks are not lending to each other, let alone consumers and businesses
-with no access to credit, many companies cannot afford day-to-day business (commercial paper)
-the entire financial system is on the borderline of complete collapse
-the OTC derivative market is $600 trillion, larger than the GDP of the entire world (it's unregulated, and no one knows exposure levels)
-Our economy is 2/3 consumer spending, and consumers have stopped consuming
-half a million more layoffs each month
It is bad now, and it is about to get much, much worse. We are headed for a worldwide depression. There are no two ways about it. The Fed and Treasury cannot bail out the entire planet.
-housing is in a terrible slump, and will only get worse
-banks are not lending to each other, let alone consumers and businesses
-with no access to credit, many companies cannot afford day-to-day business (commercial paper)
-the entire financial system is on the borderline of complete collapse
-the OTC derivative market is $600 trillion, larger than the GDP of the entire world (it's unregulated, and no one knows exposure levels)
-Our economy is 2/3 consumer spending, and consumers have stopped consuming
-half a million more layoffs each month
It is bad now, and it is about to get much, much worse. We are headed for a worldwide depression. There are no two ways about it. The Fed and Treasury cannot bail out the entire planet.
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Originally Posted by tunerjetta29,Nov 24 2008, 03:53 PM
^^^ LOL did you just reference Wikipedia?
There's plenty to back my side up:
http://www.imf.org/external/pubs/ft/wp/2008/wp08258.pdf
http://www.financialsense.com/fsu/editoria.../2008/0627.html
http://www.bloomberg.com/apps/news?pid=206...id=aCFGw7GYxY14
http://www.wilmott.com/blogs/satyajitdas/i...Will-It-Unravel
This is the kind of crap (CDS in specific, derivatives in general) that is sinking the largest companies in the world. Do some reading. Learn.
The point (since you seem to miss it) is these OTC derivatives are even more dangerous given the number of defaults and amount of counterparty risk that exists now. The scary thing is nobody really knows how much exposure everyone has, since it is an unregulated market.
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From: Long Beach, CA
Originally Posted by Jimmies,Nov 24 2008, 02:48 PM
It is really, really bad and for a lot of reasons.
-housing is in a terrible slump, and will only get worse
-banks are not lending to each other, let alone consumers and businesses
-with no access to credit, many companies cannot afford day-to-day business (commercial paper)
-the entire financial system is on the borderline of complete collapse
-the OTC derivative market is $600 trillion, larger than the GDP of the entire world (it's unregulated, and no one knows exposure levels)
-Our economy is 2/3 consumer spending, and consumers have stopped consuming
-half a million more layoffs each month
It is bad now, and it is about to get much, much worse. We are headed for a worldwide depression. There are no two ways about it. The Fed and Treasury cannot bail out the entire planet.
-housing is in a terrible slump, and will only get worse
-banks are not lending to each other, let alone consumers and businesses
-with no access to credit, many companies cannot afford day-to-day business (commercial paper)
-the entire financial system is on the borderline of complete collapse
-the OTC derivative market is $600 trillion, larger than the GDP of the entire world (it's unregulated, and no one knows exposure levels)
-Our economy is 2/3 consumer spending, and consumers have stopped consuming
-half a million more layoffs each month
It is bad now, and it is about to get much, much worse. We are headed for a worldwide depression. There are no two ways about it. The Fed and Treasury cannot bail out the entire planet.
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From: Phoenix
Originally Posted by Fusiondynamics,Nov 24 2008, 01:01 PM
It doesn't help with the stupid media talking about it every day. If they shut the hell up. I don't think it would be this bad. They made everyone who had money to spend second guess their purchases.
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From: New York
Originally Posted by Kyushin,Nov 25 2008, 12:01 AM
I agree with your presentation of the facts. How bad do you think it will need to get before Americans actually do change their lifestyles and priorities from toys and pleasure to food and necessities?
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From: Quantico, VA
Originally Posted by Kyushin,Nov 21 2008, 04:30 PM
And also, I thought hummers were phased out and now lastnight I seen ads on tv for 2009 hummers, wtf?!
No wonder the rest of the world hates us.
Thoughs and opinions plz ^^
No wonder the rest of the world hates us.
Thoughs and opinions plz ^^
THESE ANIMALS ARE SO ****ING FUNNY! THEY MAKE ME WANNA MERGE WITHOUT LOOKING!