I thought that bailout was supposed to save us...
I thought that bailout was supposed to save us...
I thought that bailout was supposed to save us...Iit was supposed to just delay the inevitable not actually 'save' us
Jesus Christ, fucking Republicans scare me.
Obama isn't even fucking DOING ANYTHING YET, how is it the Obama Recession?
PS: I know people are joking, but still it pisses me off.
I don't know, there was an article in the WSJ today about how foreign manufacturers are having an increasing presence in the U.S. I could see some of them buying liquidated assets on the cheap and then employing non-union employees.
btw, the car companies can't really go into chapter 11 at this point. There's no lenders out there in this environment that are going to fork out the loans for debtor in poession financing given that it will take years for chapter 11 to untangle and even then they might not make it out. It's either government intervention or the midwest will face great depression era unemployment.
I don't know, there was an article in the WSJ today about how foreign manufacturers are having an increasing presence in the U.S. I could see some of them buying liquidated assets on the cheap and then employing non-union employees. Nomura, the japanese bank, is actually doing this right now
Pretty sure the Russian auto plant is to serve the Russian market, which has been growing at a rapid pace and which GM has been riding the wave of.
edit: Yes, the plant will build the Chevy Captiva (Euro only), Opel Antara (Euro only,) and Chevy Cruze (Europe only until a year later when production begins in the US)
KUWAIT CITY (AFP) – The United States has asked four oil-rich Gulf states for close to 300 billion dollars to help it curb the global financial meltdown, Kuwait's daily Al-Seyassah reported Thursday.
Quoting "highly informed" sources, the daily said Washington has asked Saudi Arabia for 120 billion dollars, the United Arab Emirates for 70 billion dollars, Qatar for 60 billion dollars and was seeking 40 billion dollars from Kuwait.
Al-Seyassah said Washington sought the amount as "financial aid" to face the fallout of the financial crisis and help prevent its economy from sliding into a painful recession.
The daily said the United States plans to use the funds to help the ailing automobile industry , banks and other companies suffering from the global financial turmoil.
The four nations, all members of OPEC, produce together 14 million barrels of oil per day, around half of the cartel's production and about 17 percent of world supplies.
The four states are estimated to have amassed close to 1.5 trillion dollars in surplus in the past six years due to high oil prices that rocketed above 147 dollars in July before sliding to just above 50 dollars.
The daily also said that the United States has asked Kuwait to forgive its Iraqi debt estimated at around 16 billion dollars.
I really see an opportunity for this country in "green" industries...that's going to be what pulls us out of this. It sure isn't going to be us relying on our endemic manufacturing that's for sure.I too have some big hope for the enviornmental solutions industry, one that's been waiting for decades to take off. The biggest problem though is that nearly all the companies that are already good at green tech, green power, aren't American companies.
Can we go ahead and kill the rich people yet?
Those who haven't seen it should watch this. (http://video.google.com/videoplay?docid=-9050474362583451279)
fuck this country and planet. Let's go to mars or some shit.
I'm no economist (but when has that been indicated good objective thought lately) but yeah this is going a depression.No it won't. It's a recession. A really really really bad recession. But this is no depression. We won't be lining up in the streets for pieces of bread.
it's not a depression -- in fact, we're experiencing deflation, and the dollar remains (relatively) strong. it will simply be the worst recession on the record.
Those who haven't seen it should watch this. (http://video.google.com/videoplay?docid=-9050474362583451279)
That video is like totally
(http://i219.photobucket.com/albums/cc315/fragamemnon/ronpaulisbatman.gif)(http://i219.photobucket.com/albums/cc315/fragamemnon/ronpaulisbatman.gif)(http://i219.photobucket.com/albums/cc315/fragamemnon/ronpaulisbatman.gif)
the faint upside is that this whole recession is a giant burn on the ron paul set
At least gasoline is back in the realm of being reasonably affordable, so it costs less money to go pick up unemployment benefits and food stamps. Win!
At least gasoline is back in the realm of being reasonably affordable, so it costs less money to go pick up unemployment benefits and food stamps. Win!
the faint upside is that this whole recession is a giant burn on the ron paul set
Is this the tinfoil hat way of things or is the money created greater than the actual money that exists to the US banks?
If you read the paper today, its as if the cost relative to the value of goods = deflation? Huge profits aren't being made because of what the people are willing to pay for something = deflation? After mass inflation, a sudden drop in price equals a bad thing? i"m getting conflicting reports here. :maf
If you read the paper today, its as if the cost relative to the value of goods = deflation? Huge profits aren't being made because of what the people are willing to pay for something = deflation? After mass inflation, a sudden drop in price equals a bad thing? i"m getting conflicting reports here. :maf
Deflation also can manifest itself through lower aggregate wages and economic activity for goods and services-as total demand goes off the cliff, so must prices in order for businesses to continue to engage in the activity of selling goods and services. We have been seeing monumental asset deflation for quite some time (years in the housing market, commodities and equities are now in the pooper too), so it's not too surprising that CPI-calculated goods and services are also experiencing some deflation as well.
that article can NOT be for real. did someone give pd a job at the wsj?
With the way a few of you are acting, its like the Dow is down to 1000.
At present around 43 firms, from one-man bands to giants employing thousands of workers, are collapsing every day.
Business lobby groups warned yesterday they fear the number could rocket to 140 a day if the Government and the banks do not send a lifeboat
Citi is about to choke :o
So will I be able to get away with not paying my $1100 credit card debt to them?
It is a depression.
I thought we may have been putting in a bottom, but I am frankly now of the opinion that this is not an economic cycle period, but the start of an era of negligible growth and high unemployment.
I have posted for years that I felt the best part of our nation's economy peaked in the 90s and our children would not have it as good as we did. I was unprepared for the speed with which things came unraveled.
As bad as stocks are, and companies...the real worry is two fold:
-govt deficits at Federal, State and local levels. They are very slow to adjust due to the entrenched stregth of unions, but we have promised them benefits we are no longer remotely capable of delivering. There will be massive layoffs and restructuring of public sector compensation. These areas are fat, inefficient and bloated. Altering them will be painful. These people are poorly situated for private sector.
-retirees. So much wealth has been destroyed. People were hardly well postioned for retirement before this depression. Now it is unmanageable. Govts do not have the monies to help.
The plus side...say goodbye to illegal immigration. Americans will soon be begging for the manual labor jobs they have shunned for decades. There will be no work here for people to sneak into this country for.
The real worry is public sector unions? Okay. Surprised he didn't mention the minimum wage.
I keep hearing about worker concessions. Why do I never hear anything about management concessions?
Fairfax newspapers reported today that in the book Mr Harvey said: "You could go out and give a million dollars to a charity tomorrow to help the homeless.Someone to make FoC proud.
"It helped to keep them alive, but did it help our society? No.
"Society might have been better off without them but we are supposed to look after the disadvantaged and so we do it. But it doesn't help the society."
Mr Harvey, the founder of the Harvey Norman retail chain, said the group had given money to charities, adding: "At the end of the day, the more quality individuals you develop in the community, the better off the community should be."
Citi is about to choke :o
So will I be able to get away with not paying my $1100 credit card debt to them?
You can say that society is responsible for the homeless or jobless all you want, but you cant say that any individual is. So why should individuals be punished. That being said, I donated enough clothes to goodwill so I wont have to pay any taxes this year.He says nothing about government or taxes. Just about charities.
Goodwill is better run that the government so I might as well give it to someone who will actually use the stuff wisely.
You can say that society is responsible for the homeless or jobless all you want, but you cant say that any individual is. So why should individuals be punished. That being said, I donated enough clothes to goodwill so I wont have to pay any taxes this year.He says nothing about government or taxes. Just about charities.
Goodwill is better run that the government so I might as well give it to someone who will actually use the stuff wisely.
Im talking about them bitch. Shit listen up son.What do you consider "helping society"? Why would you consider a homeless person (singular) a negative?
Hes talking about why giving shit to homeless people doesnt help society and then I elaborate because someone mentioned my name.