How low can we go?

**~~Scar Face~~** · February 02, 2009, 05:42 PM

I was just reading an article on the website "portfolio" about economic predictions: Apparently most economists predict a moderate recession into mid to late 2009. However, most people working in the financial business (77%) think the economy is in a state of crisis, and is the worst they've seen ever. A slim majority of the American public think we could or are already heading for a depression (55%). I don't know, a moderate recession seems way too optimistic to me. So, anyone with a better grasp of the economy [JP?] how bad should this recession get? I know before people gave largely optimistic answers, but, well with the recent stimulus package and all, variables have changed to a degree.

**Heathen Hammer** · February 02, 2009, 05:44 PM

Depends on what ruling class will benefit. If more sewere economic crisis would somehow be their goal, than it will happen.

**~~Scar Face~~** · February 02, 2009, 05:52 PM

So I take it you believe in some kind of world wide conspiracy...?

**Zephyrus** · February 02, 2009, 05:58 PM

Originally Posted by Scar Face

So I take it you believe in some kind of world wide conspiracy...?

I've heard from a recruiting officer that they would stop recruiting new people into the military by early 2010.

Their goals are already being met, and yet more people are asking for those jobs.

**Heathen Hammer** · February 02, 2009, 06:04 PM

Originally Posted by Scar Face

So I take it you believe in some kind of world wide conspiracy...?

Depends on what you call a conspiracy. Canada is capitalist and therefore has ruling class.

**♔Jean-Luc Picard♔** · February 02, 2009, 06:00 PM

We'll bottom out in mid-late '09 and start back on the upswing. Hopefully.

**Zephyrus** · February 02, 2009, 06:04 PM

Originally Posted by Skandranon Rakshae

We'll bottom out in mid-late '09 and start back on the upswing. Hopefully.

"Hope" and "change" don't feed the hungry.

We have to do better for America. I say somebody should organize a protest to make these losers in washington know whats really going on with their constituents.

**touchmaster** · February 02, 2009, 06:10 PM

Originally Posted by Zephyrus

"Hope" and "change" don't feed the hungry.

We have to do better for America. I say somebody should organize a protest to make these losers in washington know whats really going on with their constituents.

Like Protests actually work? Look at all the Anti War protests that went on over the years. Did those work? No, Bush didn't listen and we are still over there.
All it is about is showing your opinion and feelings... They don't really care what the average citizen thinks.

Personally I don't think Obama will give a

anyway.

**Zephyrus** · February 02, 2009, 06:15 PM

Originally Posted by touchmaster

Like Protests actually work? Look at all the Anti War protests that went on over the years. Did those work? No, Bush didn't listen and we are still over there.
All it is about is showing your opinion and feelings... They don't really care what the average citizen thinks.

Personally I don't think Obama will give a

anyway.

This seems to be the case here.

**Platon** · February 02, 2009, 07:17 PM

Originally Posted by touchmaster

Like Protests actually work? Look at all the Anti War protests that went on over the years. Did those work? No, Bush didn't listen and we are still over there.
All it is about is showing your opinion and feelings... They don't really care what the average citizen thinks.

Personally I don't think Obama will give a

anyway.

Without those protests maybe the US would be in Iran already...

Oh.. and I think were going straight down.. those billion dollar packages just delays the crash!! A big war is the only way to save capitalism now..

**touchmaster** · February 02, 2009, 07:41 PM

Originally Posted by Platon

Without those protests maybe the US would be in Iran already...

Oh.. and I think were going straight down.. those billion dollar packages just delays the crash!! A big war is the only way to save capitalism now..

I agree, I'm all for the right to protest it's just they don't really mean anything (I mean they mean alot to the protesters) but the politicians don't give a

.

**Admiral Piett** · February 03, 2009, 01:25 AM

Originally Posted by touchmaster

Like Protests actually work? Look at all the Anti War protests that went on over the years. Did those work? No, Bush didn't listen and we are still over there.
All it is about is showing your opinion and feelings... They don't really care what the average citizen thinks.

Personally I don't think Obama will give a

anyway.

You're very wrong, touchmaster. This single issue, along side the whole economy thing, is what caused an embarrassing defeat for an entire political party a couple months ago. That's like saying the freedom to express your opinion should be discouraged because it accomplishes nothing and should have no influence on federal policy.

The hippies won in the end. The war ended in 'Nam. Richard Nixon resigned the Presidency in shame. Later on, an old hippie started PC building. Do you ever wonder why the internet was called the "World Wide Web"?

**~~Scar Face~~** · February 02, 2009, 07:24 PM

I'm listening to a lot of peter Schiff, and hes been predicting all of this **** for years now, and hes proclaiming great depression like problems.

**Hunter Makoy** · February 02, 2009, 10:50 PM

I don't think the market will actually go much lower, its just a question of when it will actually go up. The Dow has been dipping a bit below 8,000 every once and a while for months now, it seems to be the artificial floor for this one. What worries me is that we haven't been able to really even get above 8,500 for a long time now. We're stuck in this margin that we need to get out of.

As far as who and how it will be fixed: alot of it will have to do with how we do business. we can't repeat the mistakes of forcing banks to give loans to people who can't possibly afford them. If the banks want to redline, let them redline. I don't care if it looked like racism to some, it kept us from getting in a financial crisis that we're now in.

As far as predicitions: well i can predict right now that in five years the economy will be booming, and i'll be right. It will always be cyclical, and our time was coming. When you couple that with the fact that with the willy nilly hand out of loans that the banks were doing, the dollar weakening at the time, and the continuing dismal results of the auto industry, the writting was on the wall in a lot of ways.

I think we're in too late and too deep now for another stimulus package to do any good. Especially when a bunch of it isn't stimulus. Infrastructure is a good idea, but its still temporary and artificial creation of jobs, and wont be long term. The answer will ultimately be a combination of all these, with responsible spending, saving, and ethics. If Americans don't learn how to control what they spend their money on, it will be hard to truely have a full turnaround.

**bushbush** · February 02, 2009, 11:45 PM

it really depends on what kind of policy is being put forward. Historically speaking, certain policy have dragged the economy deeper into recession (like the inter-war attempt to bring back gold-standard) and others accelerated recovery (post-ww2 policy like free trade and marshall plan).