Xebedee

Dollar disappearing up its own backside.
Foreign policy borrowed from Goring's outhouse library.
OPEC mulling over pricing in Euro's & Gold at $900/oz.
Education and Employment - the working poor.
Debt, national and consumer.
Pending recession.

The Great Depression came really quite fast, the history books tell us. The scars are still with us. Can it really happen again?

Or is America so freaking BIG and powerfull, that we are effectively immune from a total disaster?






Oh, and happy Tuesday.

YankeeDaz

But don't forget the Democrats are sure to win the next election so America will once again find its feet. Well, fingers crossed anyhow!

Xebedee

Oh, cheers.
Feeling much better now.
What was I worried about?

YankeeDaz

LOL. At least someone answered!

Xebedee

No one cares.


Like the song says:

"I might be going to hell in a basket - but at least I'm enjoying the ride"


Rhubarb, rhubarb.
Rhubarb.

anotherlimey

I've heard they will be ordering companies to move call centers back the US.

And they are going to require all cars sold in the US to be made in the US.

Hiro11

Things have been much worse in days past. For example, we weathered:
- 8-9% unemployment
- 9-11% inflation
- 12-15% average mortgage interest rates
- 3 dollars to the pound
- Multi-year recessions
...circa 1977-1980 (during a Democrat's time in office ).

We had another multi-year recession during 1990-91 and again (a milder one) in 1999-2000. Also, the 80s S+L crisis was much bigger than the current sub-prime mortgage meltdown. Surely things aren't so bad now.

Sophia68

It's all quite scary, eh?

Ultimately, I think the US will just about scathe above a total recession and through it's current [bad] economic status....the US dollar is one of the most powerful currencies in circulation....we'll get over it once Bush is out of the White House.

lapin_windstar

If this smacks the inefficiency and wastefulness out of the US economy (and consumer goods in particular), then it'll be a tough few years that will pay off in the long term.

paddingtongreen

None of those indicators means diddley. It's entirely psychological, self-fulfilling prophesy. If people believe there will be a recession, they will behave as though there is one and thereby cause one; if they don't believe it, there won't be one.

Sophia68

I agree and I really hope so.

meauxna

Yeah, love you too!

My next door neighbor is 92 next month. He's taught me a lot about re-using aluminum foil and saving string. We're set for the next GD because he's got 2 freezers full of the preserves he (still) puts up every year!

meauxna

hear hear to that.

Giantaxe

I doubt it. The credit crisis - and credit is ultimately what grows the US economy - is real enough and not likely to go away any time soon. With banks less willing or unable to lend to businesses, the economy as a whole will feel a sting.

paddingtongreen

I don't know. Warren buffet is going to re-insure government bonds, two new programs to save people's ownership of their houses, Fanni May and Freddie Mac can cover much bigger jumbos. Those should make money more accessible.