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I also live by the "if it's in the news then the likely will happen" mantra. I'm on the fence on this one.... mainly because I was predicting a much worse recession would happen any day now. So, if the media agrees with me, does that make me right or time to switch my outlook? Not sure.Quote:
Originally Posted by LDAHL
Who was it who said "be fearful when others are greedy and greedy when others are fearful"?Quote:
Originally Posted by Catwoman
I'm pretty sure that was Warren Buffett.Quote:
Originally Posted by LDAHL
I am not doing anything until the US debt ceiling is raised. If it is not or if really large cuts are made to the budget we could have another Great Depression. The bond market will panic if the US defaults on it's debt.
Which I think both parties understand even while attempting to make hay. And, if they don't, just remember, we the people elected them to represent us (well, that's the going theory anyway).Quote:
Originally Posted by freein05
The US won't default. We can pay the interest using somewhere around 10% of the *budget. But it looks like we also won't stop spending so the bigger question is, will we incur more debt or will we have to start issuing IOU's in lieu of entitlements?
* a word used figuratively as we haven't had one since 2009.
I think we've been in the Great Depression part II for 3 years, that being said, I'm wondering what changes everyone is seeing out there.
I hear people enjoying the simpler things, I'm hearing folks who no matter what their purse looks like agree to help someone in need.
No one seems so judgemental about giving up cable TV or cutting back to one good car, shopping at the second hand store.
There's a young group of housewives and new mothers who've discovered coupons, and savings. Leftovers have become quite chic.
And packing your lunch...the newest and smartest thing.
What are you seeing...
Mrs.B
Looking back from the future, I believe that our current economic problems will be called a depression.
I'm not a doomer. Once houses become cheap enough for the average person to buy, and the U.S. dollar becomes cheap enough that people elsewhere find our products to be incredible buys, things will straighten up.
While Americans don't seem interested in marketing our country's goods and services abroad, immigrants will sell them in their home countries around the world if there's money to be made.
Community gardens and little garden plots in the yard are way, way up around here.Quote:
Originally Posted by Mrs.B
We should probably all remember that a Presidential election is coming up next year, and at least one side has a lot to gain by wringing their hands and talking down the economy.
Remember the "we have to burn down this village to save it"? We haven't learned a lot since then. I expect we will be seeing lots and lots of Chicken Little's who will be telling us the sky is falling (and of course, it's all BHO's fault), so get used to it. We're about to head into Silly Season, regardless of any REAL difficulties with the economy, so fasten your seatbelts, because it's going to be a bumpy ride.
The Republicans seem perfectly prepared to run the country back into the ditch.......anything, to regain power. And if we forget who drove it into the ditch in the first place, then more fools us. Hint......it wasn't President Obama.
Does this mean that our country doesn't face a lot of serious problems? Of course not. But.......I realize that President Obama is a superman, but he WAS handed a country on the brink of a total financial collapse, a huge deficit and two wars (at least one of which was unnecessary) sucking hundreds of billions of dollars of taxpayer dollars, not to mention a banking/financial system that had to be shored up, like it or not. Now, he's managed to stabilize those situations, get the economy moving again, however sluggishly, AND get Osama bin Laden, but............ ;-)