CNN says More Bank Failures Coming

[Pressing-On]

Any comments on this clip?

Five Misconceptions About the National Debt

http://www.youtube.com/watch?v=YabLqJ0RwPQ

[TRFrance]

Originally Posted by RandyWayne

Pestilence!

Famine!

Cats and dogs!

Strong gusts of wind!

As Charlie Brown often said.... ARRRGGGHHHHHHHHH!!!

(I swear. The end MAY be near, but one of the big reasons I have been barely posting is the sadistic glee that so many people have wallowing in this stuff.)

I agree.

We need to be careful to maintain proper perspective regarding this stuff.

Pessimism for pessimism's sake is not productive or edifying to anyone.

[ILG]

Originally Posted by TRFrance

I agree.

We need to be careful to maintain proper perspective regarding this stuff.

Pessimism for pessimism's sake is not productive or edifying to anyone.

I don't think most here are looking at the economic crisis with a sadistic glee. Maybe some are figuring it will bring the end of the world and the antichrist or something. I think most are just looking at the facts. The facts are pretty pessimistic right now. I think calling attention to it and what we can do about it is positive.

[TRFrance]

Originally Posted by ILG

I don't think most here are looking at the economic crisis with a sadistic glee. Maybe some are figuring it will bring the end of the world and the antichrist or something. I think most are just looking at the facts. The facts are pretty pessimistic right now. I think calling attention to it and what we can do about it is positive.

I agree.
But the original post didnt do that. I think to some of us here, it seemed somewhat fatalistic, without suggesting any particular positive action for people to take.

[Withdrawn]

James 1.2, "My brethren, count it all joy..."

[Ferd]

somebody wake me up when we start to approach the 1000 number. thats how many failed in the 1980s. we arent there yet.


someone call me when unemployment break 9% thats what happened at the end of the carter blow out. we arent there yet

look people, things are looking like we are going to hit at least 2 quarters of negative growth (that is a recessioin). but that doesnt mean we are headed for depression.

it looks like 3rd quarter will be a negative quarter. guess what? that means we have 1 negative quarter thus far this year. This thing is going to shake out.

just remember to blame your friendly neighborhood democrat in congress for this mess.

[ILG]

Originally Posted by Ferd

somebody wake me up when we start to approach the 1000 number. thats how many failed in the 1980s. we arent there yet.


someone call me when unemployment break 9% thats what happened at the end of the carter blow out. we arent there yet

look people, things are looking like we are going to hit at least 2 quarters of negative growth (that is a recessioin). but that doesnt mean we are headed for depression.

it looks like 3rd quarter will be a negative quarter. guess what? that means we have 1 negative quarter thus far this year. This thing is going to shake out.

just remember to blame your friendly neighborhood democrat in congress for this mess.

I don't understand when people say "This is going to happen" and "That is going to happen". This is like a hurricane. We need to batten down the hatches and assess what to do in our personal situations. Nobody can say with assurety "This is going to shake out". It may or it may not. We may have a depression or we may not. But we can't stick our heads in the sand and say "This won't affect me" because I think it is going to affect everybody either in large ways or small.

[Ferd]

Originally Posted by ILG

I don't understand when people say "This is going to happen" and "That is going to happen". This is like a hurricane. We need to batten down the hatches and assess what to do in our personal situations. Nobody can say with assurety "This is going to shake out". It may or it may not. We may have a depression or we may not. But we can't stick our heads in the sand and say "This won't affect me" because I think it is going to affect everybody either in large ways or small.

Nobody said it wasnt going to affect us. It obviously is already affecting us. (see the 700 billion dollars we just spent).

But people are suggesting this is the end of America. This is going to be worse than the great depression.

First of all, there are vastly more controls in place that didnt exist in 1930. Our economy is vastly more diverse than the economy of 1930.

We are likely going to see a recession. It just might be the worse recession to hit since the 1970s. It also just might be a 2 quarter recession that requires a readjustment in the banking sector and we find ourselves all in a better position by summer of next year.

That doesnt mean that as individuals some of us might very well lose a job, maybe some will lose houses.

But I think i am on safe ground saying that America isnt going to be bulldozed next thursday nor are we headed to a period of 25% unemployment. Economic cycles happen every single time we get to this point, someone starts screaming about it being the "big one" then it doesnt pan out and so it will be the next one.

well, I really believe those that are saying this is the big one, will be saying the next one is going to be the big one.

they just might be saying that constantly for the next 100 years. Or not.

We are all eventually going to be ok. it may take time, somebody may have to take a job they dont like. Somebody might have to lose a home and start all over, but even with that, we will be ok.

[Ferd]

FDR's words still ring true.

All we have to fear is fear itself.

[ILG]

Originally Posted by Ferd

Nobody said it wasnt going to affect us. It obviously is already affecting us. (see the 700 billion dollars we just spent).

But people are suggesting this is the end of America. This is going to be worse than the great depression.

First of all, there are vastly more controls in place that didnt exist in 1930. Our economy is vastly more diverse than the economy of 1930.

We are likely going to see a recession. It just might be the worse recession to hit since the 1970s. It also just might be a 2 quarter recession that requires a readjustment in the banking sector and we find ourselves all in a better position by summer of next year.

That doesnt mean that as individuals some of us might very well lose a job, maybe some will lose houses.

But I think i am on safe ground saying that America isnt going to be bulldozed next thursday nor are we headed to a period of 25% unemployment. Economic cycles happen every single time we get to this point, someone starts screaming about it being the "big one" then it doesnt pan out and so it will be the next one.

well, I really believe those that are saying this is the big one, will be saying the next one is going to be the big one.

they just might be saying that constantly for the next 100 years. Or not.

We are all eventually going to be ok. it may take time, somebody may have to take a job they dont like. Somebody might have to lose a home and start all over, but even with that, we will be ok.

Your points are basically valid. But some people need to consider what they need to do about these things and I think it's good that it is getting some attention. It may help some people who otherwise have their heads in the sand to open their eyes and take some steps now, before they lose their house or job or whatever. Some will get hit regardless. You are right, we will adjust, even if it is a depression, we will adjust just like they did in the 30's.