America's in trouble :/

[ENNO]

Well I dunno if most of you know this but I was doing some research and talking to a few people and am sure that America is going to go into recession. So why am I thinking this? well yesterday the stocks went down 3% in Ireland, 7% in other EU countrys and 10% in Japan(thats huge!!). why? because of speculation of recession in America everyone was selling , selling and selling...all due to the fact that they dont know how long or bad the recession is going to be.

America has also caused the sub prime in major EU banks namely northern rock and has caused a credit crunch where banks are afraid to trade and sell with each other because of these dodgy loans floating around....I just find this crazy, and if you still find this hard to swallow then have a look at this. The Euro is worth $1.50 now and the english pound is DOUBLE!!

What are your toughts on this??

[oO DARKSAINT Oo]

I can tell you first hand that we are going into a recession. What gets me is all the Politicians spewing there crap because it's a election year. Alot of people are loosing their homes in here in California because of that stupid 'interest only' loan. We were about to buy a home about two years ago, then I saw a guy named Jim Cramer on msnbc, saying not to trust these new loans. I'm glad I took his advise, I'm in construction, there is no work. I made $25,000 less this year than I did two years ago. We can barley make rent let alone a Mortgage payment. Things will get better for us, just not this year. Things always dip in an election year, compound that with a weak economy and a dollar that isn't strong, it doesn't look good. When America goes down, unfortunately we take everyone with us.

[AzraelPC]

I can tell you first hand that we are going into a recession. What gets me is all the Politicians spewing there crap because it's a election year. Alot of people are loosing their homes in here in California because of that stupid 'interest only' loan. We were about to buy a home about two years ago, then I saw a guy named Jim Cramer on msnbc, saying not to trust these new loans. I'm glad I took his advise, I'm in construction, there is no work. I made $25,000 less this year than I did two years ago. We can barley make rent let alone a Mortgage payment. Things will get better for us, just not this year. Things always dip in an election year, compound that with a weak economy and a dollar that isn't strong, it doesn't look good. When America goes down, unfortunately we take everyone with us.

Listen to everything that this man says when it comes to money because he is telling the absolute truth! If he is wary about something, you should be paying attention, period.

Regarding the recession talk, I fully agree with both Enno and DS. This is bloody ridiculous when CitiGroup, the richest company on the planet, is writing off unnecessary items to cut costs. Whoever wins this election needs to seriously figure out how to get the unemployment number down and fast. I know I'm going to get flamed for this, but the last thing that we as a nation need to be worrying about it getting the troops out of the Middle East. What we as a nation need to be focusing on is how to employ all of these hard-working Americans that are seeing their services not needed anymore.

CREATE MORE JOBS PEOPLE!!!

[oO DARKSAINT Oo]

Everyone thinks the troops need to come home. They just don't have the balls to say it anymore. Most just hide behind the 'support our troops' saying. The problem is, If you want them to come home, your not supporting them. If you think they need to stay for stability in the east, Your greedy and you want the oil. There really is no correct answer. Thats why the politician have avoided the war(sorry 'Conflict') in the run for the White House. The troops have done a incredible job over there, but it's time, come home. (sorry if we don't have any job for you though when you get home)

[masterninja]

Yeah i heard about America going into a recession few days ago on the news over here it seems like the most obvious scenario to happen.

Also heard Bush in a desperate attempt to stop it or at least lessen the blow is giving every household like an 1100 euro worth cheque right?
Thinking everyone will spent it like crazy and hopefully give the economy a push in the right direction.

I just wonder how this will turn out..

[tbone4690]

You know govt, is trying to hide employment problems, when you go into a store that has signs everywhere saying they are hiring, and are giving imediate interviews, then when you have interview they say they have no positions, place I know people are told to keep the now hiring signs up, even though they are not hiring, the govt must be trying to hide what is really going on. I applied at walmart and got nothing, and they hire everyone!

[SeSsIoNz 07]

< Canadian.

HAHA.

I LAUGH AT YOU ALL.

< goes into microsoft office and writes up a letter telling george bush to give the country to meeee >>>>

I'll fix money problems and increase crime rate.

[DutchMike]

Good job by the FED to drop 3/4 point on the interest rate....NOT!!!! :eek:

Using the central bank to reassure the stockmarket only expands the bubble and makes the bang louder.
I'll stick with the EU's way of handling it.

[ROADKILL]

It is much worse then what they are letting on. When the media tells you not to invest in the stock market but to save 10% of every paycheck. That is a good sign of recession heading into a depression. It is going to get really bad not only for the U.S. but the whole world.

[DutchMike]

It is much worse then what they are letting on. When the media tells you not to invest in the stock market but to save 10% of every paycheck. That is a good sign of recession heading into a depression. It is going to get really bad not only for the U.S. but the whole world.

And I choose to buy a new house and start my own company in this mayhem! :eek:

[gebbie]

< Canadian.

HAHA.

I LAUGH AT YOU ALL.

< goes into microsoft office and writes up a letter telling george bush to give the country to meeee >>>>

I'll fix money problems and increase crime rate.

how is INCREASING the crime rate helping :confused: lol

p.s. YOUR FROM FLORIDA:p

[tbone4690]

well the stock market did go up today, and recovered. So I guess what happened yesterday was just from fear.

[masterninja]

And I choose to buy a new house and start my own company in this mayhem! :eek:

haha just hold it out.....in the meanwhile import goods from the U.S.A. to make you feel better....

[ENNO]

well the stock market did go up today, and recovered. So I guess what happened yesterday was just from fear.

well that what I said, they went down because of people expecting this...and its gone down again...as of now its inevitable that there will be a recession. Its just a matter of how bad it will be. and I also fear for third world countrys and developing countrys as they "owe" america for arms and supplies so what happens when they want it? repossession?

[ROADKILL]

Ooooh, That is a scary thought!!! George Bush the repo man!!!! Thats it!!! I'm going to go build a hobbit hole in the woods and live free from society!