2008 American Recession goes global/Stock market crashing

Girshwin · 10-10-2008, 02:51 AM

This has been a long time in coming, and there isn't a lot we can do except ride it out- it's a cycle in the market. Although there's certainly a lot of blame to go around.

Homeowners, lenders, and the government all did a lot of silly things, and Obama's "Main Street did everything right, Wall Street screwed up America" mantra, while perhaps politically popular, is a lie.

Quote:

Originally Posted by Elusive

Yeah United States of America is corrupt.

Nah. The world is.

But, heh heh heh, if we go down the rest of you guys go down too! :P

ambienteternity · 10-10-2008, 03:11 AM

this shouldnt be much of a surprise.

download the article from this link and read it. it should spur some decent thread-related conversation.

Fannie Mae eases credit lending.doc

Hrundi · 10-10-2008, 03:33 AM

Yeah I wasn't really too informed of what's happened to the market, but by the sound of it, the bailout plan doesn't fit well with me.

On the other hand, my economics professor discussed this and noted that a similar bailout plan saved Sweden's economy when it was in a similar situation, and the bad economy of Japan in the 90's was due to the fact that they didn't adopt this kind of plan right away. Japan also evidently used a similar strategy to eventually overcome this recession.

Japan and Sweden: A tale of 2 gov't bailouts - washingtonpost.com

EDIT: Oh yeah, and about that AIG "retreat", apparently after those antics the government doled out another handout to AIG for ANOTHER $37 billion!

spoiled brats...

DIGID · 10-10-2008, 03:44 AM

The bailout bill increases economic regulation, which will probably help unfreeze the markets. A similar period of federal power and economic regulation occurred to finally get out of the Great Depression in the U.S. Although I suppose I support it, I uneasily favor any bill of this kind of concept.

Hrundi · 10-10-2008, 04:04 AM

We don't know that for sure though. The New Deal may have helped eventually, it may not have... but it took WWII to pull America's industry together and get America out of the depression.

GreenSLime11 · 10-10-2008, 04:07 AM

Quote:

Originally Posted by Xiahou Dun

Disregarding the absolute stupidity of the claim for a second.

How can any party that costs 400 thousand be possibly described as "little".

I know seriously its not little

blah · 10-10-2008, 04:24 AM

Did the 700 billion even put a dent in it?

We should put all of our money in banks in diffrent countries eh?

ambienteternity · 10-10-2008, 04:47 AM

Quote:

Originally Posted by blah

Did the 700 billion even put a dent in it?

We should put all of our money in banks in diffrent countries eh?

put a dent in what?

it stopped the banks from closing

people should really download the article that i added to my above post. i couldnt link it since i received it from my grandmother.

Kiigora Lord of Pirates · 10-10-2008, 05:28 AM

Quote:

Originally Posted by pontius

All of this media attention is not helping the market, either.

True. Even with the media attempting to spin things sometimes the public can be too smart for its own good. If nobody spends we spiral deeper down into this recession. But I try not to worry, I don't think humanity let itself get screwed just yet.

Quote:

Originally Posted by girshwin

This has been a long time in coming, and there isn't a lot we can do except ride it out- it's a cycle in the market.

Another good point. Recessions are inevitable in a capitalist system.

Quote:

Originally Posted by bl00d

The CEO's of AIG spent around 400,000 for what the media calls "retreat."

Yeah that was rather special. I think the exact figure was around $440,000. The point being it was a shameless move.

Quote:

Originally Posted by girshwin

But, heh heh heh, if we go down the rest of you guys go down too!

Yeah the whole world is in trouble. See: Iceland

Wizzy · 10-10-2008, 05:19 PM

If obama doesn't become president, i'm bailing out to canada.

Second great depression is upon us.

10-10-2008, 03:11 AM	#12 (permalink)
ambienteternity Hatching D/P team eggs Join Date: Jul 2006 Location: Bethlehem, Pennsylvania Posts: 6,293	this shouldnt be much of a surprise. download the article from this link and read it. it should spur some decent thread-related conversation. Fannie Mae eases credit lending.doc __________________

10-10-2008, 03:33 AM	#13 (permalink)
Hrundi stuff of myths Join Date: Jun 2006 Location: The New World Posts: 446	Yeah I wasn't really too informed of what's happened to the market, but by the sound of it, the bailout plan doesn't fit well with me. On the other hand, my economics professor discussed this and noted that a similar bailout plan saved Sweden's economy when it was in a similar situation, and the bad economy of Japan in the 90's was due to the fact that they didn't adopt this kind of plan right away. Japan also evidently used a similar strategy to eventually overcome this recession. Japan and Sweden: A tale of 2 gov't bailouts - washingtonpost.com EDIT: Oh yeah, and about that AIG "retreat", apparently after those antics the government doled out another handout to AIG for ANOTHER $37 billion! spoiled brats... __________________ _______________________________________________________________________ Last edited by Hrundi; 10-10-2008 at 03:36 AM.

10-10-2008, 03:44 AM	#14 (permalink)
DIGID Tim Duncan for 3! Join Date: Dec 2006 Posts: 3,568	The bailout bill increases economic regulation, which will probably help unfreeze the markets. A similar period of federal power and economic regulation occurred to finally get out of the Great Depression in the U.S. Although I suppose I support it, I uneasily favor any bill of this kind of concept. __________________

10-10-2008, 04:04 AM	#15 (permalink)
Hrundi stuff of myths Join Date: Jun 2006 Location: The New World Posts: 446	We don't know that for sure though. The New Deal may have helped eventually, it may not have... but it took WWII to pull America's industry together and get America out of the depression. __________________ _______________________________________________________________________

10-10-2008, 04:24 AM	#17 (permalink)
blah Reprimanded Join Date: Jan 2008 Location: NJ, TE, CK, and 110th - taoblah__@hotmail.com Posts: 1,824	Did the 700 billion even put a dent in it? We should put all of our money in banks in diffrent countries eh? __________________ Gifts: Batsmasher \| Duraza \| Angel Of Sorrow \| Angel Of Sorrow 2 \| LOL M_A_D \| Golden Dildo Award \| LIEK ZOMGZORZ!

10-10-2008, 05:19 PM	#20 (permalink)
Wizzy Reprimanded 2 Join Date: Sep 2006 Location: MUNCH Posts: 402	If obama doesn't become president, i'm bailing out to canada. Second great depression is upon us.

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