ECONOMIC MELTODOWN...DEVALUATION OF THE DOLLAR...U WOKE UP YET?

by What-A-Coincidence 40 Replies latest jw friends

• 

  Highlander

  YAWN....

  I think some people here either have failing memories, or were too young to remember how bad the economy can really get and still survive. Early 80s recession anyone? I was very young, but I remember my dad losing his job and having to go on food stamps to feed us. Dad has professional skills and yet he lost his job. Mom wasn't working as she was taking care of us kids. It was a tough time for many families, yet we all survived.

  There simply weren't any jobs around at that time. Unemployment was in the double digits. I believe interests rates were above 20%. My parents have seen fuel rationing in their lives. I'm 33 yrs old, I've never seen this! The products we buy here in the US are so unbelievably cheap. Go to any other country and you'll find their prices are equal to, or higher than what we pay for vehicles, fuel, electronics, etc. They pay higher prices despite having much less income than the average US worker.

  It remains to be seen if our current economic slowdown is a recession and if so, how bad or mild it turns out to be. I do believe our current problems in the credit and housing markets have the potential to cause serious damage. However I don't see it duplicating or exceeding the problems of the early 80s recession.
• 

  IP_SEC

  Goerge W. Bush in all his glory........

  No fan of Geo here, but can you explain to me what impact the pres has on the economy? He has no direct control over the economy. He doesnt "manage" the economy. Its not his job. Now indirectly, if anything, his outrageous spending has kept things afloat 'til now.
• 

  watson

  I lean toward Juni's thinking.
• 

  SacrificialLoon

  It'd be interesting to see what the unemployment and inflation is if they used the same formulae to calculate them that they used in the 80's. IIRC the formulae were changed about 10 years ago, or maybe a bit more recent.
• 

  Robdar

  So, Ron Paul was correct. Nobody wanted to listen to him though. I wonder how many on this thread took the time to vote for him?

  We've gotten the government we deserve.

  Jeffreywhat:

  Haahaahaaa
  
  I love it, the age of america is over!!!
  
  :-)

  Message to Jeffreywhat: I've been to your country and it's nothing to write home about. It's mostly a bunch of foul tempered drunks running around screaming about the evils of the U.S., all the while gobbling up all things American. If you didn't have England, you'd be nothing. Kiss my American ass.
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  Elsewhere

  What I find amazing is that congress still refuses to pass a Balanced Budget Amendment to the Constitution.

  It should be illegal for the Federal Government to spend more money than it takes in.

  There is also plenty of blame to go around for American citizens. After WWII ended Americans went on a Credit Spending Spree. If you have spent more money than you make, you are to blame too!

  It's time to Pay the Piper!
• 

  SacrificialLoon

  Does the piper take Mastercard?
• 

  Homerovah the Almighty

  Bush's administration has always presented a weak economic policy since taking office along with his foreign polices.

  If there ever was a need for a progressive change in Washington it is probably now.

  How that idiot got into office for 2 terms is still an amazement to me and probably to others as well.
• 

  Elsewhere

  How that idiot got into office for 2 terms is still an amazement to me and probably to others as well.

  Simple: He used religion to get into office. He devided the country along religious lines, made promises to the Fundamental Christians and they put him into office.

  What we are seeing today is the result of "Faith Based" government. (And people wonder why religion scares the hell out of me)

  What I find most fascinating about devout religious people is that they respond most strongly to ideas and rhetoric that appeals to the evolutionary ape within.
• 

  IP_SEC

  There is also plenty of blame to go around for American citizens. After WWII ended Americans went on a Credit Spending Spree. If you have spent more money than you make, you are to blame too!

  Elsewhere, fundamentally I agree with you but the problem in not private debt. Government and Corporate debt makes the private debt look like chump change.

  Listen folks. Without an ever increasing amount of debt, there would be NO economy under the current system. I dont understand how more plain I can put it. The problem is that money is not MADE by working at your job. Money is CREATED when you/they borrow money. Only then can it become part of the monetary system. If you did not care to watch the videos I posted, then at least do some research on your money system. You will be shocked. You will be pissed off that this is being done to you.

  I suggest you start with researching Reserve Banking & Fiat money. Once you understand that, you WILL understand the current state of the economy.