"World Economy Crumbling!"

[thegame07]

there's a simple solution we just have to make more monies and then if inflation happens we just make more and more monies..... its a plan that cant fail.

 

[bladerx]

You're just being paranoid, I know what it's like living in a country where everything goes up almost every week and government funds are being stolen on a regular basis, but as you can see, I still have all the 'needs' and some 'wants'.

Same goes for my country, politicians are the worst breed of the vilest of creatures.

 

[Renegade_R]

Pro tip:

Learn Chinese

 

[OrR]

Surprisingly good advice in this thread!

This had to happen some time and as far as I can tell it doesn't bother me...

 

[The Worst]

You're just being paranoid, I know what it's like living in a country where everything goes up almost every week and government funds are being stolen on a regular basis, but as you can see, I still have all the 'needs' and some 'wants'.

Same goes for my country, politicians are The Worst breed of the vilest of creatures.

 

[lastdual]

Pro tip:

Learn Chinese

China is still largely dependent on US trade. A 20% tariff on Chinese imports would cripple their economy. In any case, if any major nation/trade zone goes down, it'll trigger the same across the world.

The fact is we need some hard times. Spending is good, but only if it's money you have. Spending yourself into debt using credit is extremely bad, and that's exactly what we've been doing as a nation. It's time to wake up to that fact, and unfortunately people are going to have to learn the hard way.

Credit needs to tighten. We have to stop screwing over the future generations by spending ourselves into oblivion. The current financial instutions are only the tip of the iceberg. Both Medicare and Medicaid are on track to be bankrupt within a decade. We can't afford free medical care for the 50 million people we already give it to, but despite that we're still talking about expanding it to 300 million.

Our debt is enormous. You could seize the wealth of every billionaire in the nation, and it wouldn't pay one tenth of it (and all our corporations would just get bought-up by foreign billionaires, as is already happening). We need to stop recklessly spending, plain and simple. And we need to rethink our unilateral free trade agreements. No one likes the term "protectionism", but the fact of the modern world is that countries that are protecting domestic production are growing rich with huge trade surplusses, while countries that practice one-way free trade are getting fleeced.

 

[science]

I'm not scared, I have no stocks. All mah monies is in teh bank

OH SHIT

 

[Panzer Tacticer]

MUUUUhhaahahaha and now for your history lesson.

The great depression created the conditions that gave rise to the wonderful lad we call Adolf Hitler. Oh that was lots of laughs.

But look on the bright side, after the world was done killing several millions of people and destroying numerous countries in a protracted war, the US and Canada experienced a massive economic boom and a surge in babies.

Sooooo for those of you still alive in 10 years, life is going to be awesome, and you will all get to have nice big families.

 

[NeSchn]

I just hope that I get 99 firemaking in Runescape before teh intrawebzzors is gone.

The stocks are up right now so maybe its going back up. Maybe not, probably not. Oh well.

 

[EmperorOfCanada]

The good news is, we can still afford DS games

 

[BurlyEd]

Your timelines are unrealistic.
The financial crash started in 1929, but the Depression lasted until the mid 40's.

I doubt that things will be bad enough for another year to tell for sure how bad and how long this thing will be.
I was born in 1938. I am an eye witness. It was not nice.

 

[beefymeatloaf420]

Well, I think that if this was actually true, I'd still have the same face on that I did when I woke up. And that's just because my facial expression is usually the same anyway :b

Your timelines are unrealistic.
The financial crash started in 1929, but the Depression lasted until the mid 40's.

I doubt that things will be bad enough for another year to tell for sure how bad and how long this thing will be.
I was born in 1938. I am an eye witness. It was not nice.

You're 70 years old? Gasp! Epic Win.

 

[Prophet]

Yeah it's going to get "really bad." Of course, really bad in the US is still relatively good by comparison to the vast majority of the globe.

None the less I'm going to give it to you straight, you might want to sit down for this (if you are sitting then why not get up and stretch a bit? It's good for the spine. Then after you are done, sit. It's about to get serious). I hate to break it to you... but... we might have to buy generic brands of groceries. If it goes on too long, we might even *gulp* have to drive our old cars instead of buying the latest shiny model. We might even have to... buy only what we need and cut back on useless shit. Gadgets, Appliances, Lattes, you name... we might lose it.

I advise you to pray. Pray to god, ask him to skip over the child soldiers of Sudan, Pray that he pays no mind to the Afghani orphans, Pray that he turns a blind eye once more to the AIDs epidemic, Pray that instead he comes to the USA. Pray that he saves our 300 cable tv stations, our high speed Internet connections and our x-amount of “anytime-minute” cellphone plans. Pray?

... it seems that I can hear God saying to America, "You're too arrogant. If you don't change your ways, I will rise up and break the backbone of your power, and I will place it in the hands of a nation that doesn't even know my name." - Martin Luther King

 

[Renegade_R]

Who knows...maybe in the near future the world's power will be taken away from the United States and be placed with an alien race that will enslave us and prosecute us until we lose all hope and we end up placing our remaining faith in a theoretical physics professor weilding a crowbar.

 

[PizzaPasta]

This kind of shit always happens during a Presidential Election. The news whips everyone up into a frenzy and I think it's so people will kind of pay attention to what is going on.

Don't get me wrong, I mean shit probably really is fucked but I don't think that it will be as bad as the Great Depression, maybe just as bad as the 1980s. Who knows.

 

[Psyfira]

Spending is good, but only if it's money you have. Spending yourself into debt using credit is extremely bad, and that's exactly what we've been doing as a nation. It's time to wake up to that fact, and unfortunately people are going to have to learn the hard way.

I can agree with that. I can't help but feel a little bit bitter about this whole situation to be honest, considering I don't have and have never owned a credit card. I'm not loaded, I just live within my means. But we're all affected by the fallout.

 

[Prophet]

The fact is we need some hard times. Spending is good, but only if it's money you have. Spending yourself into debt using credit is extremely bad, and that's exactly what we've been doing as a nation. It's time to wake up to that fact, and unfortunately people are going to have to learn the hard way.

I can agree with that. I can't help but feel a little bit bitter about this whole situation to be honest, considering I don't have and have never owned a credit card. I'm not loaded, I just live within my means. But we're all affected by the fallout.

Ditto. I doubt people who are accustom to living within their means are going to see any issues in the near future. If anything we might benefit. The way I look at it is this; all the people who live way beyond their means are going to start being a bit more conservative with their money. This is going to lead to a increase in recession-wary aimed goods, which is to say that companies will be reducing prices on their products and cutting costs wherever they can; all in hopes of competing for the few dollars that people will still have to throw away. Now, for people who know how to save their money, this is going to feel like a huge clearance sale. Luxury items that we were too frugal to buy, we can now snatch up for cheap (if we so choose). Just look at the price of houses right now, ridiculously low. Of course I'm no economist, but it does stand to reason. No?

 

[hogg]

Actually, the Fed does not have an unlimited balance sheet, and they know it.

They are not as stupid as they are forced to be in public.

At the end of the day, they know that a “run on the dollar” will mean a “reboot” of the system, and they are as anxious as you or I to avoid that. It would mean the end of their power, and if there’s one thing you should know about power, it’s that at the end of the day, it is more interested in preserving its own power than anything else in the world.

 

[Mangofett]

Then again, I have a "I can survive anything thrown at me" attitude, which is probably why I'm so calm

I'm a survivor (what),
I'm not gonna give up (what),
I'm not gon' stop (what),
I'm gonna work harder (what),
I'm a survivor (what),
I'm gonna make it (what),
I will survive (what),
Keep on survivin' (what),
I'm a survivor (what),
I'm not gonna give up (what),
I'm not gon' stop (what),
I'm gonna work harder (what),
I'm a survivor (what),
I'm gonna make it (what),
I will survive (what),
Keep on survivin' (what)

 

[The Worst]