Is Rome Buring, do you believe we are REALLY in trouble?

6 Answers

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   Aegis of Freedom on Aug 06, 2010

   We are already destroyed, we just don’t know it yet. We are literally living on borrowed time.
   In 2000, Yahoo stock was worth about $20, but was trading for $200. This was unsustainable, and when the market corrected, it caused the tech bubble burst and the recession in 2000.
   In 2006, houses worth $100K were selling for $250K. This was unsustainable, and when the market corrected, it caused the housing bubble burst and our current recession.
   In the last couple of years (starting around 2006) the average American spent 130% of their annual income. Now that we are in a recession, that has dropped back to 98%. This drop in spending means the market MUST lose 3-4 million jobs. Unfortunately, Bush and Obama just rang up $6 trillion in debt to "save" these jobs. What that means, is that the jobs ONLY exist due to federal debt, there is no market to support them. When the federal money runs out, the jobs will go away again. But that is not good for politicans, so they won’t let that happen, they go trillions more into debt to keep these artificial jobs around. The result will be that very soon (2-3 years tops) that America will have about 10 million jobs that should not exist, but do ONLY because of federal debt. Just like Yahoo trading for $200 when it is only worth $20, the market will correct itself. But this bubble will be a jobs bubble. And when it bursts it will cost tens of millions of jobs and launch a Great Depression more terrible than you can imagine.

   A small recession hurts, but it allows the market to correct itself and then rebound. The market MUST be corrected, and by stopping that process now, it does nothing more than putting it off till tomorrow when it will be massively worse. Our government has killed us by trying to put off the jobs market correction, we just don’t know it yet. The market will correct, it always does. We are living on borrowed time.

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   rotorhead on Aug 06, 2010

   I don’t know about burning but we are in trouble. Unfortunately, the boobs who are trying to fix it don’t have a f*ckin’ clue.

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   NIkki on Aug 06, 2010

   We’re on the brink. People are responsible & caring. Govt, as always, is the problem. If they’d stand back & let us be, things would work themselves out.

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   Obama Cut the Cheese! on Aug 06, 2010

   I think as well that we are REALLY in trouble too. That’s why I’m buying a bigger home so that I can foreclose on the other one when Obama has dried up all of our remaining investments.

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   Joe on Aug 06, 2010

   yes

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   Olan Black on Aug 06, 2010

   I think that there are some elements in our country that would really enjoy seeing Americans panic. I asked a question yesterday about how much the current stock market loss has effected everyday life, and out of 18 answers, only two said they were mildly concerned about their 401K. I think people are getting too much information on things that they really don’t know much about (stock market, human cloning) I think that people that are really concerned or panicky are people with upper incomes. but they are worried about things like not being able to go on vacation, having to sell the summer home, can’t buy the new car. Poor people are ok, we always survive. don’t understand the hoarding of ammo and guns. who are they going to shoot, each other?