THE BORE

General => The Superdeep Borehole => Topic started by: Rman on November 14, 2008, 11:26:45 AM

Title: :usacry (US Economy is f@#ked thread)
Post by: Rman on November 14, 2008, 11:26:45 AM
Major layoffs are being announced by all kinds of corporations, the auto industry is about to die, states and municipalities are in the verge of bankruptcy.  I'm usually level headed, but is anyone starting to worry now?
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Brehvolution on November 14, 2008, 11:29:06 AM
Just wait til after xmas when all the sales forecasts come up short.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: CajoleJuice on November 14, 2008, 11:33:39 AM
I tried, I bought an HDTV.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: MrAngryFace on November 14, 2008, 11:34:25 AM
http://www.huffingtonpost.com/2008/11/12/mark-haines-thinks-treasu_n_143315.html -- haha thats about right.

Ill keep buying for America, but i'll probably shove a bit into savings for the first time. FEAR is the great motivator, my friends.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Van Cruncheon on November 14, 2008, 11:35:25 AM
this is just the unwinding after the bank failures. who thought it was gonna be pretty? next two quarters will be rough, and then we'll see the uptick, hopefully.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Olivia Wilde Homo on November 14, 2008, 11:40:08 AM
...
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Rman on November 14, 2008, 11:41:19 AM
this is just the unwinding after the bank failures. who thought it was gonna be pretty? next two quarters will be rough, and then we'll see the uptick, hopefully.
Yeah, I know it would not be pretty, but actually living through this is strange.  Most of us were to young to care about the S&L crisis or even the crash of '87, but most of us our now gainfully employed or looking be after college so the sense of panic may be magnified.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Human Snorenado on November 14, 2008, 11:56:18 AM
Most of my freelance work has dried up, it's a good thing I have few expenses and close to 30k in the bank.  I plan on coasting for the next year or so and hopefully getting a new govt. job, since I'm convinced that that will be the only way to get the economy moving again.

I also think we should start a "2 Great 2 Depressing Blog" where we write up stuff about how to survive the coming disastrophe. 
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Olivia Wilde Homo on November 14, 2008, 12:44:50 PM
In terms of personal anecdotes, my sister is having trouble finding any kind of work.  In the town she lives in, the economy boomed (thanks to casino monies) and now, most of the businesses there are just barely hanging on.  That means hiring freezes, and one employer told her that even though they haven't even opened up their doors yet, they're not sure how they're going to make it.  Her husband's employer cut all overtime so now they're depending on the same hourly wage I make as an intern.

That is the worst case so far but it isn't exactly dire for them.

As for me personally, I got a job I was hired for but haven't started yet.  It sounds pretty recession proof but who knows.  I'm looking for a second job in the area to work weekends to make sure I have extra cash on hand if I ever need it.  I don't think things will ever get that bad but I won't be taking that risk either.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Human Snorenado on November 14, 2008, 12:47:58 PM
Let's have some awesome flashbacks, shall we?

http://www.youtube.com/watch?v=2I0QN-FYkpw

http://www.youtube.com/watch?v=2I0QN-FYkpw

All of those people other than Peter Schiff should be dragged out into the street and beaten to death with limp sausages.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Bocsius on November 14, 2008, 12:51:01 PM
US Economy? Pfft. We'll bring the world down with us.

 :american
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Eric P on November 14, 2008, 12:56:59 PM
thank god my company is built to be solvent from the bottom up.  we're good, we're as we are continuing to sign new businesses.

i'm concerned because having plotted out my expenses (just got my first paycheck today) vs my income, i will be living a very monkish life for a while having killed a few of my extravagances.

thankfully this will motivate me to go through my back log of books and games.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Robo on November 14, 2008, 01:08:46 PM
My employers seem to be optimistic about our future.  I feel relatively safe, but if it comes down to cutting, the fact that I'm browsing the internet right now instead of working probably makes me considerably more expendable than I would like to believe.

Not having much of a problem with expenses either.  I'm still going all out for Christmas.  :american
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: CajoleJuice on November 14, 2008, 01:11:59 PM
My employers seem to be optimistic about our future.  I feel relatively safe, but if it comes down to cutting, the fact that I'm browsing the internet right now instead of working probably makes me considerably more expendable than I would like to believe.

Not having much of a problem with expenses either.  I'm still going all out for Christmas.  :american

I'm in almost exactly the same situation. :rock
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Brehvolution on November 14, 2008, 01:14:11 PM
The company I work for makes software for large companies that shows them how to mind and expand the bottom line. I feel pretty safe. :)
My wife is a teacher, I don't think she has anything to worry about.
Shit is still tight though. Anytime we close to being able to save some money, something pops up and takes it away. We would be really fucked if something major broke in our house.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: BlackMage on November 14, 2008, 01:17:22 PM
Since i work in the medical field, i think im alright. I feel bad for my sister, though. she is a hairstylist and used to make a hell of a lot of money. now her customers are much fewer and she and her husband are going through a rough time.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: CajoleJuice on November 14, 2008, 01:18:53 PM
I also think we should start a "2 Great 2 Depressing Blog" where we write up stuff about how to survive the coming disastrophe. 

I wonder if it would last longer than Year of PS3.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Robo on November 14, 2008, 01:19:53 PM
Houses are more trouble than they're worth.  The Money Pit taught me so.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Eric P on November 14, 2008, 01:42:37 PM

Shit is still tight though. Anytime we close to being able to save some money, something pops up and takes it away. We would be really fucked if something major broke in our house.

that kept happening with my car

pain in the ass.  put over 2k into it in 6 months
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Phoenix Dark on November 14, 2008, 01:49:08 PM
Accounting :bow
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: cloudwalking on November 14, 2008, 02:33:39 PM
i'll be spending my precious swiss tourist money on your filthy american soil come christmas. but not even tourism can breathe life back into the weak, hollow shell of the US economy
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: CajoleJuice on November 14, 2008, 02:34:25 PM
Accounting :bow

Actuarial Science :bow

(if anyone knows what the fuck that is)
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Tauntaun on November 14, 2008, 02:44:58 PM
i'll be spending my precious swiss tourist money on your filthy american soil come christmas. but not even tourism can breathe life back into the weak, hollow shell of the US economy

 :-\  I would call you homo or queer but....women are gay already.   :'(   When you visit do you maybe want to go to a store and lick the carpet?  We could be pals, then we can spank Jarosh with my special Tauntaun Paddle TM.  :hyper
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Howard Alan Treesong on November 14, 2008, 02:56:58 PM
I need to save some more

I've decided to get more aggressive about using Netflix
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: CajoleJuice on November 14, 2008, 02:57:53 PM
I need to save some more

I've decided to get more aggressive about using Netflix

do you have an exit strategy
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Tauntaun on November 14, 2008, 02:58:44 PM
I need to save some more

I've decided to get more aggressive about using Netflix

do you have an exit strategy

It's called pulling out and letting loose on your face/chest.  :-*
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Oblivion on November 14, 2008, 03:07:31 PM
I work at a publisher that thrives on Wii's and DS's success, so seems I'm pretty safe for now. Plus I got a promotion recently.

:bow Nintendo :bow2
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: duckman2000 on November 14, 2008, 03:09:52 PM
I really wish they'd just let the auto industry die. As things are right now, there won't be any new car companies, and no industry can function and progress under those nearly monopolistic circumstances. So let GM and Ford die, something new, and probably better, will appear.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Howard Alan Treesong on November 14, 2008, 03:10:26 PM
my job is okay ;)
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: drew on November 14, 2008, 03:11:20 PM
if the auto industry dies we will likely go into a depression
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: duckman2000 on November 14, 2008, 03:12:27 PM
if the auto industry dies we will likely go into a depression

So? Sometimes you have to let shit burn in order to renew the soil. Let them crash, the nation will survive, and will probably rise up many times stronger. These temporary bail-outs and mergers certainly haven't helped to halt the momentum towards ruin, so let it go this time.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Olivia Wilde Homo on November 14, 2008, 03:13:46 PM
I really wish they'd just let the auto industry die. As things are right now, there won't be any new car companies, and no industry can function and progress under those nearly monopolistic circumstances. So let GM and Ford die, something new, and probably better, will appear.

There are a lot of jobs and hundreds of billions of dollars in revenue are tied to those industries.  Letting them go would pretty much cause a significant amount of unemployment.  That would definitely end any chance Detroit had at improving itself.

I'm not a fan of letting heavy industry collapse.  I'd rather the government or stockholders try to drive out the current leadership and start anew.  I'm sure there are some Board members or senior executives that have the right idea.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: drew on November 14, 2008, 03:15:30 PM
my dad works for Merrill Lynch

hence my bias
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: duckman2000 on November 14, 2008, 03:17:14 PM
I really wish they'd just let the auto industry die. As things are right now, there won't be any new car companies, and no industry can function and progress under those nearly monopolistic circumstances. So let GM and Ford die, something new, and probably better, will appear.

There are a lot of jobs and hundreds of billions of dollars in revenue are tied to those industries.  Letting them go would pretty much cause a significant amount of unemployment.  That would definitely end any chance Detroit had at improving itself.

I'm not a fan of letting heavy industry collapse.  I'd rather the government or stockholders try to drive out the current leadership and start anew.  I'm sure there are some Board members or senior executives that have the right idea.

Detroit will never improve. The auto industry can either die a slow death, and hinder any progress and block any plans for future growth while it takes its time to merge, collapse, merge some more, all in some effort to help the people with a stake in the company land comfortably. The alternative is a quick, decidedly traumatic event, but one that would release more talent and more investment money faster, likely then fast enough for new opportunities to form in the wake. It's not as if the auto industry will die, it will just be a very different one. If that requires the sacrifice of the Detroit area, then so be it.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Olivia Wilde Homo on November 14, 2008, 03:22:14 PM
IMO, if Black Friday falls short of reasonable expectations, we're fucked.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Olivia Wilde Homo on November 14, 2008, 03:25:38 PM
moreso than what we thought is what I meant
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Fresh Prince on November 14, 2008, 03:32:27 PM
I have a graduate position it should be fairly safe but I get worried that it'll be made redundant or I'll get sacked within the first 90 days etc. Moving out of home to somehwhere more expensive also adds to my trepediation. Thank god I didn't apply to any banks.

The auto inductry is not only GM, Ford, Chrysler but the many smaller and medium businesses that are linked in the supply chain as well.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Howard Alan Treesong on November 14, 2008, 03:32:46 PM
my dad works for Merrill Lynch

ah, he's a a g-man
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: drew on November 14, 2008, 03:36:25 PM
haha
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Fragamemnon on November 14, 2008, 03:51:04 PM
awful 4th quarter contraction, more malaise-but not drastic contraction- in the 1Q next year, then up and down for the next six months or so. This is all conditioned on the notion that government does the right thing and spends what is has to keep things from getting too much worse, and then after this is all blown over simply assfucks via taxes the segment of the population who got us into this mess in the first place.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Van Cruncheon on November 14, 2008, 04:59:48 PM
awful 4th quarter contraction, more malaise-but not drastic contraction- in the 1Q next year, then up and down for the next six months or so. This is all conditioned on the notion that government does the right thing and spends what is has to keep things from getting too much worse, and then after this is all blown over simply assfucks via taxes the segment of the population who got us into this mess in the first place.

yup. libor and t-spread are loosening, credit is slowly moving, banks are refactoring the accounting process. we're back on the shoal, and now the victims of all this bank and investment mismanagement -- the retailers who couldn't get credit for the last three months -- are unwinding and shaking out the dead pool. consumer confidence index is starting to climb again now that the bank run panic has largely passed, and we're moving into the last phase -- 2-3 quarters of raised unemployment thanks to first the bank failures and then the asphyxiated retailers. the death of the big 3 will be not be that quick -- even if they declare bankruptcy, they will remain operational in some capacity for at least a couple years, and while they will make the employment marketplace more toxic with their wheezing, they'll only protract and augment the pain of recovery, but they ultimately won't drag us down. well, the midwest might go into a weak depression. lol midwest.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Van Cruncheon on November 14, 2008, 05:02:49 PM
hey, they can add PLEASE GIVE US MONEY to their laundry list of things jesus needs to do for them, including STOP THOSE HORRIBLE GAYS FROM MARRIAGE-ING and END THE MURDER OF FETUSES BY LIBRULZ
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Van Cruncheon on November 14, 2008, 05:05:07 PM
the dow is no guidance right now -- you could run on the floor screaming BOB FROM GOLDMAN HAS THE SYPH!!!! and it'll tank by 200. turn around and shout PONIES IN THE STREETS FOR EVERYONE and it'll go up 300 more.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Van Cruncheon on November 14, 2008, 05:07:17 PM
sorry, fa, but you guys depend on blue state money, and we hafta look after our own! also, your industry verticals are sooo narrow and your supply chains so undiversified :'(
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: MrAngryFace on November 14, 2008, 05:39:41 PM
http://www.physorg.com/news145892750.html
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: MrAngryFace on November 14, 2008, 05:42:56 PM
Lets just say im gonna put some money into savings right now
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Oblivion on November 14, 2008, 05:47:46 PM
Thank god no one here works in tech...heh... :-\...:'(

Fortunately the vidya games industry is recession proof.




...right?
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Eric P on November 14, 2008, 05:51:25 PM
we'll just start up Evilbore Consultancy.

Title: Re: :usacry (US Economy is f@#ked thread)
Post by: CajoleJuice on November 14, 2008, 06:04:17 PM
Lets just say im gonna put some money into savings right now

i believe this is the fifth sign of the apocalypse

spoiler (click to show/hide)
how many signs are there anyway?
[close]
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: MrAngryFace on November 14, 2008, 06:06:04 PM
Well I still have money to spend, but this time ill have money in my savings account too :p
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Robo on November 14, 2008, 06:40:34 PM
Lets just say im gonna put some money into savings right now

i believe this is the fifth sign of the apocalypse

spoiler (click to show/hide)
how many signs are there anyway?
[close]

we can all sleep peacefully knowing that until you get some sex, there will always be at least one more
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: MrAngryFace on November 14, 2008, 06:41:28 PM
Since I started paying on my student loans I've only been able to save a couple hundred a month.  And, well, "save" is a bit of a misnomer. 

oh shit I need to pay my student loan :(
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: CajoleJuice on November 14, 2008, 06:44:43 PM
Lets just say im gonna put some money into savings right now

i believe this is the fifth sign of the apocalypse

spoiler (click to show/hide)
how many signs are there anyway?
[close]

we can all sleep peacefully knowing that until you get some sex, there will always be at least one more

good show
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Don Flamenco on November 14, 2008, 06:46:43 PM
if the auto industry dies we will likely go into a depression

So? Sometimes you have to let shit burn in order to renew the soil. Let them crash, the nation will survive, and will probably rise up many times stronger. These temporary bail-outs and mergers certainly haven't helped to halt the momentum towards ruin, so let it go this time.


smh.  gotta love the "let them die" internet tough guys.  That doesn't solve anything.  Also the bail out wasn't an instant thing.   Companies don't get magically bailed out and back to normal when Nancy Pelosi waves her magic tits.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: demi on November 14, 2008, 06:47:27 PM
we'll all shack up in a house and have wacky adventures like Spaced

muckhole as mike :wub
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Rman on November 14, 2008, 06:48:37 PM
I'm down to only one student loan left.  Can't wait to pay that bitch off.  I'm aiming for next year.  
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: MrAngryFace on November 14, 2008, 06:50:06 PM
ah student loans cool, isnt due for 2 more days, ill pay it next paycheck. I did pay my phone and internet bill tho boom
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Rman on November 14, 2008, 06:50:55 PM
Buy threads are going to becoming very sparse. :-\
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Robo on November 14, 2008, 06:51:03 PM
Lets just say im gonna put some money into savings right now

i believe this is the fifth sign of the apocalypse

spoiler (click to show/hide)
how many signs are there anyway?
[close]

we can all sleep peacefully knowing that until you get some sex, there will always be at least one more

good show

:lol
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: MrAngryFace on November 14, 2008, 06:51:38 PM
Buy threads are going to becoming very sparse. :-\

I will not let that happen! Sure, I had a dry spell recently but I had to pay for new glasses!
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Rman on November 14, 2008, 06:54:53 PM
Buy threads are going to becoming very sparse. :-\

I will not let that happen! Sure, I had a dry spell recently but I had to pay for new glasses!
The game release window is drying up, though.  Finally.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: MrAngryFace on November 14, 2008, 06:55:27 PM
Yeah, that will lighten my load, its been argh
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Don Flamenco on November 14, 2008, 06:57:14 PM
Buy threads are going to becoming very sparse. :-\

grift/mug threads will be the new hotness.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: demi on November 14, 2008, 06:57:40 PM
"what did your homeless shelter serve today?"
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Olivia Wilde Homo on November 14, 2008, 06:57:45 PM
I'm $80k in the hole with student loans right now.  Fortunately my starting salary, combined with dirty poor quality living, along with a second job, I can have it paid off in a couple of years.

the midwest deserves it. 

HEY!

 :punch :punch :punch
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: MrAngryFace on November 14, 2008, 06:59:11 PM
80k? jesus. I went to a dumpy tech college and my dad taught there so it was half off so only 12k here. I cant imagine 80k
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Olivia Wilde Homo on November 14, 2008, 07:07:27 PM
Well, how I'm handling it is that since there is a six month grace period, I'll make sure all my other debts are paid off.  I have a signing bonus with my job, that should help out a bit.  Job also has profit sharing, although I'm not pinning my hopes on it.  I'm getting a second job so I'll be working every day, although I'm used to that by now.  With all that factored in, I should get around 70,000 a year.

It will suck for a couple of years, but I should be ok.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Rman on November 14, 2008, 07:14:54 PM
That's pretty good for entry level work, TEXP.  What industry are you in?

Edit: I forgot about the second job part.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Olivia Wilde Homo on November 14, 2008, 07:18:03 PM
Engineering Distribution
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: CajoleJuice on November 14, 2008, 07:25:08 PM
Buy threads are going to becoming very sparse. :-\

I will not let that happen! Sure, I had a dry spell recently but I had to pay for new glasses!

I'm going to contribute more than I ever did, so maybe that'll help.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Olivia Wilde Homo on November 14, 2008, 07:28:49 PM
What the fuck is engineering distribution?

Engineer of Distribution of Natural Gas.  Making sure everything is up to standards, making sure demand is met, meet with the Utilities Board twice a year, etc.  Should be interesting.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Brehvolution on November 14, 2008, 07:35:20 PM
We have a gas well on our land. Well, my father in law gave us the land and retained the gas rights. It's been pumping out for 8 years now. I hope he saved up a nice inheritance.  :D
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Fragamemnon on November 14, 2008, 07:56:43 PM
One more thing to note is that municipalities and states are going to need funds to cover their budget shortfalls and to encourage the infrastructure projects to keep people working.

In return, though, states need to be forced to rethink they way that they do budgeting-right now, they like to cut taxes and increase services instead of saving during the boom times because that's what makes for popular politics, and then they wind up in huge trouble when things go south. It's a huge problem.

I'd like to also note that this sharp downturn is going to have a harsh effect on governors who might be eyeing Senate or Presidential races. They are going to have to make some unpopular choices at home that will become extremely effective attack ads.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Mandark on November 14, 2008, 08:05:35 PM
Yep.

The incentive for governors, who are often looking to move up, is to take advantage of the good times and build a reputation.  All those wunderkind governors in the 90's weren't really a new breed of technocrat.  They were just riding the wave.

Also, a lot of states are constitutionally or provisionally restricted from deficit spending or raising taxes.  The balanced budget rules are the worst, because the time when you need the most government services are the same time when the revenue is dropping.
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Brehvolution on November 14, 2008, 08:05:56 PM
I'm just afraid that it will be so bad that Obama won't have enough money to do what he said he wanted to do. All to make it look like he was full of it and the repugs would have an advantage the next time around. It's all part of the master palinplan:-\

 :hans1
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Fragamemnon on November 14, 2008, 08:17:32 PM
I'm just afraid that it will be so bad that Obama won't have enough money to do what he said he wanted to do. All to make it look like he was full of it and the repugs would have an advantage the next time around. It's all part of the master palinplan:-\

 :hans1

He'll do what he wants to do. Honestly, stuff like health care reform and education is a backdoor stimulus to the middle class anyway, since it is those people that actually have to worry about paying for such things-it's just a small drop in a bucket to the privlidged.

The whole way that states manage their budgets is madness. They commit the most money to projects in boom times when costs are highest, and then cut them the most when costs plummet due to economic slowdown.

Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Olivia Wilde Homo on November 14, 2008, 08:18:53 PM
What do you think might happen with California?
Title: Re: :usacry (US Economy is f@#ked thread)
Post by: Mandark on November 14, 2008, 09:33:20 PM
The whole way that states manage their budgets is madness. They commit the most money to projects in boom times when costs are highest, and then cut them the most when costs plummet due to economic slowdown.

Plus the cuts are basically anti-stimulus.

That's why sending federal money to the states strikes me as a good idea.  Then again, it creates the same moral hazard problem that everyone's always bringing up with the bailouts.

States need to either be willing to run deficits during recessions or take their rainy day funds seriously.