Financial Woes - Page 3

**El Subestimado** · 07-15-2008, 07:48 AM

So as I was flipping around the Internet radio dial today and I tuned into NewsRadio KNX 1070 in California. Looks as if they have one hell of a bank crisis there.

First, the story from KNX 1070's latest breaking news.

Angry Mob at Encino IndyMac
Police have been called in to tame an angry throng of IndyMac Bank customers trying to pull money out of the Encino branch on Day 2 of a federal bank takeover.

At least three police squad cars showed up early Tuesday as tensions got heated outside the San Fernando Valley branch of Pasadena-based IndyMac.

Federal regulators seized Pasadena-based IndyMac on Friday and they opened yesterday under the control of the Federal Deposit Insurance Corporation. Deposits to $100,000 are fully insured by the FDIC.

And now, KNX Business Hour 7.14.2008
KNX - KNX Business Hour 7.14.2008

Now, taking all of this into account, the fed is still saying that our financial system is "basically sound". What do you think?

**Opunaya** · 07-18-2008, 04:21 AM

It sure as fuck feels like a recession to me.

**El Subestimado** · 07-18-2008, 06:14 AM

And for everyone that doesn't feel the pain in the pit of hteir wallets just yet, give it time.

*in Don LaFontaine voice*
Just when you thought it was safe to go back to the bank. As a false sense of security looms over the country, a crisis of epic proportions comes back to rear its ugly head, and this time, it comes back with a vengance.

Recession.
Rated R
Now playing in select cities.
Coming soon to a bank branch near you.

GentleSpikeResort · 07-18-2008, 08:30 AM

I only buy groceries, which still could empty my wallet pretty quick. But it's not so bad for now. Sale items and non-commercial brands is what I usually aim for. Smart shopper is I.

But once I get my license... I'm going to feel everyone's hell.

**Opunaya** · 07-18-2008, 08:36 AM

^ I do that same thing for my shopping as well.

I R DANIEL (Sin · 07-18-2008, 12:57 PM

Quote:

Originally Posted by Brother of Yeshua

GO READ THIS including all the stuff it links to. Explore some more on your own if you want.

Anyway, that's some good reading to start with, then get back to us.

Also, how does your assurance outrank our opinions and the supporting evidence we present? Show me some news that doesn't show a weak economy. Oil has dropped twice in the last week because of a slowing US economy. Someone recently stated that the US is headed into a "deep recession" and not some douche like Harry Reid, someone who's actually an economist and qualified to make such statements. I'll dig it up if you really want to read it. Anyway, show me something that justifies your hypothesis.

He may have got the decade wrong, but he was right about the similarities. It's on an even larger scale now than it was then. We're globalized baby (almost completely now).

EDIT (hit post too soon)

Anheiser-Busch just got bought out by some European company. The American Beef Industry just got bought up by someone in Brazil to the tune of over 500 BILLION DOLLARS! Remember, these are the same people saying how much they suffered because of ethanol and feeding their cattle, meanwhile, their net worth and profits have been skyrocketing over the last 5 years, and they make half a trillion dollars off it, enough money to pay off approx 1/114 of our projected 53 trillion dollars in obligations we've made as a side note on our economic plight.

We've maxed out our credit cards and all the rich fuckers are abandoning ship and selling out to the monstrosity fascist communistic (you can have both at the same time, if you don't agree you can do your own homework for that one) global state that's forming and expanding each and every day.

Not to mention government bailout after government bailout after government bail out. That's OUR MONEY they're using to prop up false wealth and corrupted corporations. We're spending and spending and spending, and the general population sinks further and further into poverty, while the upper class, investing class, and political class grow in power and control of the resources at hand.

I'm not trying to be a doom and gloomer, but, well.....we're fucked.

my assurance outranks other's opinions becuase i study business and economics at a university. i dont think most people on this board even go to school.

yes, the US economy as slowed down a bit. but that does not mean that we are headed into a recession or a depression. and the slowdown of the US economy has nothing to do with the price of oil. the US economy has been slowing down for the last 5 years. and yet the price of oil went higher. which would contradict you're opinion on the pricing of oil. (and oil has just recently beginning to drop this week. last week it reached it's peak at about 140).

and what Anheuser-Busch being bought out has nothing to do with the well being of the economy. that was strictly a good business decision. and there are thousands of popular companies in the US that were bought out by foreigners. it's not a bad thing. and it's not a good thing. people selling their business doesn't mean their business failed. and infact, selling one's business is irrelevant in comparison to the health of a country's economy. especially MNE's like Anheuser-Busch who have markets all over the world.

and if we're fucked, then the whole world is fucked. b/c many other countries are experiencing the same exact problems we are.

4n7hr4x · 07-18-2008, 05:37 PM

Quote:

Originally Posted by I R DANIEL (Sin

my assurance outranks other's opinions becuase i study business and economics at a university. i dont think most people on this board even go to school.

yes, the US economy as slowed down a bit. but that does not mean that we are headed into a recession or a depression. and the slowdown of the US economy has nothing to do with the price of oil. the US economy has been slowing down for the last 5 years. and yet the price of oil went higher. which would contradict you're opinion on the pricing of oil. (and oil has just recently beginning to drop this week. last week it reached it's peak at about 140).

and what Anheuser-Busch being bought out has nothing to do with the well being of the economy. that was strictly a good business decision. and there are thousands of popular companies in the US that were bought out by foreigners. it's not a bad thing. and it's not a good thing. people selling their business doesn't mean their business failed. and infact, selling one's business is irrelevant in comparison to the health of a country's economy. especially MNE's like Anheuser-Busch who have markets all over the world.

and if we're fucked, then the whole world is fucked. b/c many other countries are experiencing the same exact problems we are.

I'll let you in on a little secret. Anyone who tells you that they study the economy and that they understand it (beyond the basics of supply and demand) is full of shit. And if anyone has been able to accurately predict the economy it is only because they just so happened to make their prediction during a time when nothing really changed.

The truth is economics are helpful in trying to figure out how an increase in the cost of oil will impact other areas, what it is not good for is trying to predict what it will do next. You're under the assumption that everything just happens on its own, following a certain pattern or rules that can be predicted. I'm under the assumption that our economy is under the control of a small group of well connected and very wealthy individuals, and since the two sectors of the economy that are acting the strangest are oil and the FED, that leads me to believe that the people involved work in those two fields.

Oil has gone up even though "we" (US based oil companies) now own all the oil in Iraq. Oil companies are screaming that its a supply and demand issue, just to shift blame from the real cause, even though full tankers of oil just sit and wait outside large oil refineries, more so than in the past. There is no shortage of oil, merely the illusion of it, and why would someone want to do that?... didn't Bush just close the ban on drilling in protected waters?... Hmmm I wonder why.... I'm sure Daddy's company will be the first one to buy up all that open land...

Brother of Yeshua · 07-18-2008, 06:49 PM

Quote:

Originally Posted by I R DANIEL (Sin

my assurance outranks other's opinions becuase i study business and economics at a university. i dont think most people on this board even go to school.

yes, the US economy as slowed down a bit. but that does not mean that we are headed into a recession or a depression. and the slowdown of the US economy has nothing to do with the price of oil. the US economy has been slowing down for the last 5 years. and yet the price of oil went higher. which would contradict you're opinion on the pricing of oil. (and oil has just recently beginning to drop this week. last week it reached it's peak at about 140).

and what Anheuser-Busch being bought out has nothing to do with the well being of the economy. that was strictly a good business decision. and there are thousands of popular companies in the US that were bought out by foreigners. it's not a bad thing. and it's not a good thing. people selling their business doesn't mean their business failed. and infact, selling one's business is irrelevant in comparison to the health of a country's economy. especially MNE's like Anheuser-Busch who have markets all over the world.

and if we're fucked, then the whole world is fucked. b/c many other countries are experiencing the same exact problems we are.

Anyone who has a good professor of economics would have taught that many things are not hard and fast rules, but theories and guidelines to see market trends and how the market reacts to itself during times of change. It's not like basic math where 2+2 is always 4.

I'm just saying what others have said, I don't know enough about it to make a super educated decision, but this makes sense to me.

My point wasn't that businesses are being sold off because the business is failing, but simply the economy is collapsing in on itself, and money is about to be extremely devalued. Only the wealthiest 15-30% would have enough money to meet basic needs in the event of a major economic catyclysm of the American dollar. The trends are the same as they were before the Great Depression, and if you don't know that, you need to go to a different school for your degree.

BTW, I'm returning to school for my master's, and schooling doesn't guarantee intelligence either.

Also, what do you do with the fact that the government has said we owe over 450K a household because of their bullshit?

EDIT: Here's something from Reuters you should read.

I R DANIEL (Sin · 07-18-2008, 11:09 PM

Quote:

Originally Posted by 4n7hr4x

I'll let you in on a little secret. Anyone who tells you that they study the economy and that they understand it (beyond the basics of supply and demand) is full of shit. And if anyone has been able to accurately predict the economy it is only because they just so happened to make their prediction during a time when nothing really changed.

The truth is economics are helpful in trying to figure out how an increase in the cost of oil will impact other areas, what it is not good for is trying to predict what it will do next. You're under the assumption that everything just happens on its own, following a certain pattern or rules that can be predicted. I'm under the assumption that our economy is under the control of a small group of well connected and very wealthy individuals, and since the two sectors of the economy that are acting the strangest are oil and the FED, that leads me to believe that the people involved work in those two fields.

Oil has gone up even though "we" (US based oil companies) now own all the oil in Iraq. Oil companies are screaming that its a supply and demand issue, just to shift blame from the real cause, even though full tankers of oil just sit and wait outside large oil refineries, more so than in the past. There is no shortage of oil, merely the illusion of it, and why would someone want to do that?... didn't Bush just close the ban on drilling in protected waters?... Hmmm I wonder why.... I'm sure Daddy's company will be the first one to buy up all that open land...

lol do you know how much oil iraq has? of the 12 members of OPEC, Iraq's production ranks 9th. and it's not even that much oil. not to mention, Iraq is part of OPEC. so american companies can't do anything about the production of oil in iraq, because it is a set amount.

and it is a supply and demand issue. along with a weakening dollar, and along with speculation, and the commodities bubble.

china raises tax on gas, demand goes down, oil drops in price

saudi arabia agrees to increase production, supply goes up, oil drops in price.

see a pattern here?

Quote:

Originally Posted by Brother of Yeshua

Anyone who has a good professor of economics would have taught that many things are not hard and fast rules, but theories and guidelines to see market trends and how the market reacts to itself during times of change. It's not like basic math where 2+2 is always 4.

I'm just saying what others have said, I don't know enough about it to make a super educated decision, but this makes sense to me.

My point wasn't that businesses are being sold off because the business is failing, but simply the economy is collapsing in on itself, and money is about to be extremely devalued. Only the wealthiest 15-30% would have enough money to meet basic needs in the event of a major economic catyclysm of the American dollar. The trends are the same as they were before the Great Depression, and if you don't know that, you need to go to a different school for your degree.

BTW, I'm returning to school for my master's, and schooling doesn't guarantee intelligence either.

Also, what do you do with the fact that the government has said we owe over 450K a household because of their bullshit?

EDIT: Here's something from Reuters you should read.

the key word in this whole post that proves my point, is market trends. or more importantly, business cycles. after years of prosperity during the 90's, we are now experiencing a downturn. the media, and people like you, scare people into thinking that the economy is a lot worse than it is. until unemployment hits 10%, our GDP declines, along with inflation, i, along with many other people, will continue to agree that it is just a business cycle. so the housing bubble burst. it was bound to happen. whether it was 10 yrs ago, or 20 yrs from now.

and i don't know about the whole 450k a household. if you're talking about national debt/population, then that's a different matter, and off topic. but it does relate to my point on business cycles.

seriously, times aren't even close to rough right now. i'd say if you guys were saying this in the 70's, i'd probably have to agree. but times are different. look at the economic history of the U.S. these things come and go. ask an economist, call up a financial adviser.

and by the way, if the U.S. economy was in such bad shape, i doubt that it would receive 1.96 trillion dollars (the highest in history) in foreign direct investment. now, i highly doubt that other economist and investors would be investing in a withering economy, unless they, along with their financial advisers were betting on a turn around of the US economy.

Brother of Yeshua · 07-22-2008, 09:41 AM

I'm not trying to scare anyone, I think people just need to be aware that it's a distinct possibility that we will either have another depression like era, or also possibly be forced into a new international currency, but that's not on topic.

The national debt does play a role, because the government is part of the economy. The bailouts they take part in are essentially them fucking with the market. Leaders (in general) in this country refuse to deal with the economic consequences of some of the bad choices made by either companies themselves or by policy voted in. We prop up bad decisions instead of allowing the natural course of the market to take effect.

You're right about the housing bubble, but that's just one of many bubbles we've been keeping afloat. What happens when they all start popping, as they inevitably will?

**Ginevra** · 07-22-2008, 03:03 PM

I had been wondering exactly what FDIC stood for. Haven't heard anything about banks here.

Also, on the bubble thing, those bubbles started somewhere, I'd guess that with that idea that it's just death and rebirth, new bubbles are made, old ones die, assuming nothing stops the new ones.