12 replies to this topic

[bigfoot]

will be in light of the market reaction to the bailout?

[Thomas]

We''re hosed.nm

[bigfoot]

Well, at least that was succinct.

[milobear2]

I don''t think there is a name for what we are going through. Calling it a recession is a way for the media to imply we have gone through this before and it has a limit and as usual we come out all right on the other side.

[bigfoot]

It kind of seems like we are in a situation where we will be in much worse shape for a very long time.  Maybe more like the fall of an empire sort of thing.  Man, I hope I''m wrong.

[bearking]

big banks look like crap, but some of the little community banks look OK.  Stocks aren''t wildly overvalued and American business are still the best run in the world. The consumer, however, is tapped out.

Plan for the worse; hope for the best.

[onecontrarian]

When the only positive news is a bailout

[tanstaafl]

Of course, I''m an optimist.

[onecontrarian]

When the only positive news about the economy is a bailout you have to wonder. The bailouts, not that they will work, mainly address the problems with wallstreet.  While on main street there is record debt, record unemployment on the way, overgrown retail and retail and housing, no positive prospects whatsoever.  Energy and commodities did spur some job creation while the fun lasted, but at the expense of more pain for the consumer.  Credit, which finances most consumer purchases, which is supposedly 70% of the economy, is drying up.  The housing ATM is gone.  Emerging markets are dying.  The Talibanization of nuclear Pakistan will turn into another crisis where our troops are needed.  Where will the money come from to finance these wars and the new bailouts?

I think GD II will be far worse than GD I.  America was the leader in manufacturing and was the world''s greatest creditor nation during GD I.  People respected law and order more in the old days.  There is now a greater disparity between the rich and poor, conservatives and liberals, and many people live a hand to mouth existence from the government, but the government is broke.  This will cause a lot of social unrest.  

The victim mentality is rampant.  No one takes personal responsibility for their actions.  Little respect for law and order.  Courts and prisons hopelessly crowded.  Far more gangs and people in prison today.  Unfortunately, in GD II, I believe society has a much greater chance of breaking down.  

The bottom is a long ways away IMO, and there will be some very uncertain and dangerous times ahead.  Could be something like the LA riots coming to a city near you.

[TheWolf]

Hard Times

[gjohnsit]

I''ve been doing it for 6 months and I''m not going to stop now.

[aussiebear]

By the hundreds will mark the bottom of this one if you''re lucky. Martial law and fracure of the union if you''re not.

[SuperCycleBear]

than the Great Depression of the 1930s