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| "The US Collapse of 2009" | |
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| Topic Started: Feb 28 2009, 03:50 AM (457 Views) | |
| Sayf Udeen Ismaeel | Feb 28 2009, 03:50 AM Post #1 |
Icon by meagan_chelsea @ LJ
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Yes. I am aware Faux News are notorious scaremongers, and this is quit epossibly just another exaggeration. But I don't know. What do you all think? |
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| stupidstuff | Feb 28 2009, 09:52 PM Post #2 |
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I think Glenn Beck is more than a bit touched. The funny thing is that he mentions the Great Society and the bank bailout and yet not the mamoth spending for the military or any other conservative monetary sinkhole. How does Beck expect the USA to continually equal the combined military spending of the rest of the world without, in whatever ratio, continually printing money and continually diving into debt? So like with just about everything else I see on Fox I consider it to be propaganda that loses whatever relevence it could have had due to its mindset. I don't like the theme that powers Beck's/FOX's fantasies: primarily it's that the poor is the enemy. it's the Great Society that is to blame for excessive paper money being in circulation. It's the poor and Fannie Mae and Freddie Mac to blame for the housing crisis that jump started the current economic mess in the USA... it's always the fault of those who have been left behind. They have a hatred for programs that try to help the economic "losers" of capitalism - and these will always be the programs to blame for whatever ails the nation. So ask Beck how much we should cut back on military spending... since he's, you know, turned this into a matter of morality. Edited by stupidstuff, Feb 28 2009, 09:53 PM.
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| Redneck | Mar 2 2009, 08:24 PM Post #3 |
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I think Beck is over playing this a little, but he is right in that we should be concerned. Our whole economy is based on faith pretty much and what happens when there is no longer any faith in our money? The Stock market crashes and those Benjy's are worth the same as toilet paper. The one thing he is missing though, is even with all this spending the US still has more gold and silver in it's reserves than what we have spent. Gold and Silver still have a value and are tangible value unlike paper money which is just faith value. But we have to be running close to the point were the fake money(paper) is going to out number the real money(Gold/Silver). I listen to Beck sometimes when I'm sick of my hillbilly music and because he's the only remotely sane talk show host on the radio here and he's always paranoid about this shit. I remember in December of 07 he was screaming basically how the world will end in 2008 and we need to vote for Mitt Romney and what not. He's basically nothing more than a doomsdayiest who has a political radio show. |
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| Sayf Udeen Ismaeel | Apr 19 2009, 05:18 AM Post #4 |
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Icon by meagan_chelsea @ LJ
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'The worst of the great recession is over' Hold on ... the worst of the recession could be over.
TOP U.S. officials have offered reassurances that the worst of the economic downturn is likely over, helped by unprecedented efforts to keep credit flowing, though the recovery will be slow. Two Federal Reserve policy-makers, Vice Chairman Donald Kohn and New York Fed chief William Dudley, both pointed to signs that measures taken by the U.S. central bank are indeed working to help revive the economy. And Paul Volcker, a senior economic adviser to the Obama administration and a former Fed chairman himself, said the rate of the economy's decline is set to slow. Mr Volcker, who like the other officials spoke at a conference of policy-makers and academics at Vanderbilt University, said, however, that the economy faces a "long slog" toward recovery. Fed officials often stress that there is a lag before the economy responds to measures taken to support growth, such as interest rate cuts, and that those lag times can vary. Since the financial crisis erupted in 2007 the Fed has slashed its benchmark lending rate from a peak of 5.25 percent, reaching the current range of zero to 0.25 percent in December 2008. The Fed has also created an alphabet-soup of programs to support credit markets and revive lending in different segments, especially home mortgages. While the central bank's emergency measures have caused the Fed's balance sheet to balloon to over $2 trillion, Mr Kohn and Mr Dudley dismissed worries that the measures could lead to inflation down the road, saying they have plenty tools to drain excess cash from the system when necessary. The Great Recession Mr Volcker, known for aggressive interest rate hikes to combat spiraling inflation when he was the Fed chairman in the 1980s, said the unprecedented tumble in economic activity in late 2008 may not have left the United States in a Great Depression but has left it "in a great recession for sure." "None of us has seen a decline in economic activity at the rate of speed seen late last year," Mr Volcker, who has been enlisted by Obama as part of a heavyweight economic team, said . Most economists see the fourth quarter of 2008, when gross domestic product shrank by 6.3 percent, and the just-ended first quarter of 2009 as the low point. Mr Kohn stressed that the current recession is "global, and will require a global response." He said the era of relying on the free-spending U.S. consumer was over and that the phenomenon was "never sustainable." Now, "U.S. consumers are pulling back, obviously, and are going to be amassing savings by not spending," he said. But even with the United States now in its sixth quarter of recession, Mr Kohn said the central bank's attempts to heal ailing credit markets and spur an economic recovery have been working gradually. "The situation in financial markets and the economy would have been far worse if the Federal Reserve hadn't taken the actions we did," he said. Mr Volcker, meanwhile, said troubles in the financial system continue to work against the economy, and vice versa: "The lack of a good strong recovery works against a strong financial system." The financial system, he said, "is not quite comatose, but it's on life support." Mr Dudley, president of the most important regional Fed bank, said that while the emergency programs were in general working to stabilize markets, some are being undermined by a perceived stigma attached to their use. Political outrage over lavish bonuses at banks has made some investors wary about taking part in the Fed's ambitious new program to spur consumer and business lending. Some investors have worried that they could become the focus of political outrage if they were seen as profiting from the program, or that there would be hidden strings attached. "It is worth emphasizing (that) actions that lead investors to shun taking risk, especially in this environment, are ultimately detrimental to the ability of households and businesses to secure credit at reasonable borrowing rates," Mr Dudley said. http://www.news.com.au/business/story/0,27753,25354779-462,00.html |
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| Redneck | Apr 19 2009, 06:05 AM Post #5 |
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Things are actually starting to get better here and I've been seeing signs of improvement. I've been looking for a real job since I got out of college, and have finally been getting interviews and seen more places hiring. This is good because one problem of this meltdown has been unemployment. getting people back to work is just the first part of getting them spending again. |
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| Sayf Udeen Ismaeel | Apr 26 2009, 09:42 AM Post #6 |
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Icon by meagan_chelsea @ LJ
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Recession 'deeper longer' than expected Outlook ... The global recession will be deeper and longer than many expected just a months ago, says Treasurer Wayne Swan.
THE global recession is likely to be deeper and longer than previously thought, Treasurer Wayne Swan said today. He made the comments after G20 and International Monetary Fund meetings with fellow finance ministers in Washington. "Talking to finance ministers here this weekend, it's pretty clear this recession is deep and it will probably go for longer than many had anticipated only a short time ago," Mr Swan told Channel 10. "Many felt that this episode had some way to go." However, other world finance leaders agreed yesterday there was a "break in the clouds" of the economic storm. "We have serious problems. We are taking very serious measures, but things are beginning to look up," said Youssef Boutros-Ghali, who chairs the IMF's steering panel, the International Monetary and Financial Committee. "Carefully, cautiously, we can say there is a break in the clouds," said Mr Boutros-Ghali, echoing the guarded optimism expressed a day earlier by the Group of Seven rich nations. Mr Swan said the sobering outlook reinforced the need for further "urgent co-ordinated international action" and continued economic stimulus on the domestic front. "That's the responsible way to go," he said. Mr Swan said media reports that it would take almost twenty years to pay back the debt it's accumulating was nothing more than "wild speculation." Mr Swan, speaking from Washington, also denied it was inevitable the government would have to raise taxes to help pay down the deficit. Last week, Prime Minister Kevin Rudd hinted the government could target high-income earners as a way of funding other spending initiatives, including an increase in the aged pension. However, Mr Swan said taxes wouldn't rise "on average''. "I'm not going to speculate (on the budget) ... but what I can repeat is our commitment to keep tax levels below the levels we inherited for 2007-08 on average,'' he said. The Treasurer also promised to boost the aged pension in the federal budget, but would not comment on reports the rise will be less than the expected $30-a-week increase. It's been suggested the federal government is considering increasing the single aged pension by only $20 a week so it can also boost unemployment benefits. Mr Swan said Labor would "deal with'' the pension increase in a financially responsible way. "We've recognised there is a problem with the base rate of pension,'' the treasurer told Network Ten from Washington. "We have said that we will deal with it in this budget and deal with it we will. http://www.news.com.au/business/story/0,27753,25388240-462,00.html |
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| gingerwitch28 | Apr 26 2009, 12:12 PM Post #7 |
twenty-first century ennui
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... Will someone make up their damn mind? 
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| Sayf Udeen Ismaeel | Apr 26 2009, 01:17 PM Post #8 |
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Icon by meagan_chelsea @ LJ
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I will admit. I'm more inclined to believe the second article. The first just got my hopes up. 
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| Bunny | Apr 27 2009, 05:59 AM Post #9 |
A Godless life seems sweeter
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I have a friend who lives off her smartitude with the stock market and interest, after she divorced her d!ck of a husband. She reckons that it will be at least 5 years, and I"m inclined to agree if you look at other recessions in history. |
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| Sayf Udeen Ismaeel | May 5 2009, 02:13 AM Post #10 |
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Icon by meagan_chelsea @ LJ
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...Nope... [@BUNNY: 5 years seems to be the consensus among those in the know.  ]Top US officials see recession ending this year THE US recession will likely end this year and policymakers must be ready to act quickly to ensure inflation does not take hold when the economy recovers, two top Federal Reserve officials said. Richmond Federal Reserve President Jeffrey Lacker and Kansas City Federal Reserve President Thomas Hoenig offered slightly different views on when the world's biggest economy will begin to grow again. Mr Lacker, speaking to business leaders the US, said that given the resilience of US consumers and the unprecedented stimulus injected into the US economy by the Fed, he expects growth to resume by year end. Mr Hoenig, speaking in New York, was less confident saying the economic outlook remained "uncertain" and it would take "most of the rest of the year" to move out of recession before starting on a path of "steady, slow" recovery in 2010. Housing and construction data released on Monday added to other recent signs that the worst of the longest recession since the Great Depression may be over, driving the S&P 500 stock index into positive territory for the year. Last week, the Federal Reserve monetary policy committee said the outlook for the US economy has improved a bit in recent weeks but that low interest rates would be needed for some time to ensure it recovers from its deep recession. http://www.news.com.au/business/story/0,27753,25431940-31037,00.html |
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