US Economy in Recession

[anthony]

Where did they get the money? The US Government printed this specially... they actually created another $200 billion from the treasury and lent it to the credit companies in hope to inflate the economy. Bad move... they just scared the rest of the world by printing money they don't have.

I don't know anything about that... though it always baffles me that our internal affairs get so much attention internationally. Where do you get this stuff? Is it on the nightly Australian news or does the rest of the world read our papers online?

Yes, it makes world news because most countries rate their currency against the greenback (US Dollar). Most other countries dollars are now surpassing the US dollar, or getting close. Shit, the Australian dollar is at 95cents this morning to the US dollar. In a good economy the Australian dollar should be around 82 - 88 cents US. That is ridiculous.... and the way its going we may just surpass you where our dollar is worth more. Not a good thing for the world economy as a whole when a country the size of the US goes into recession.

Your US Government just screwed not only its country, but others as a result of its decision to print "new money" when it doesn't have the assets to do so in the first place. Some US guru's thought it would help the world, instead it just scared the world out of the market place entirely, where all world markets just lost billions from people pulling all their capital from US companies due to the stupidity of the Government decision to print new money in an attempt to solve the problem. Bad juju that one....

Gold last night hit $1000 per ounce, normally around the $150 - $200 an ounce mark, hit soaring heights because those pulling their funds from the US economy had to put it elsewhere that was more secure, so they put it in Gold. Obviously the price of Gold has stabilised back to near what it was, though a massive insurgence of cash went into it overnight to secure monies because the US is now definitely going further into recession with that stupid decision of printing new money to try and solve an existing problem, all when in trillions of debt already and has no assets to print against.

I also have cable... so I get more global news feeds and I love watching the news upstream. I like to know what is going on within the economy to ensure my own future prospects, and one country can affect another if the crash is large enough.... the US one being such.

 

[lrs]

If you think it is scary over there, you ought to be over here. And it ain't gettin better.

 

[upstream]

Thanks Anthony, I suddenly feel less apathetic.

I've been interviewing with a French and an Irish company, my friends have been telling me I should demand payment in Euros.

I agree with lrs. I miss the later Clinton days when there was so little to worry about in this country (for a lot of us) we decided to focus our attention on his sex life. Ever since 2001 it's felt like the Armageddon is coming.

I saw a great bumper sticker after the last election:

"Sorry world, we tried."
-Half of America

 

[linasmom]

Upstream,

I saw that bumper sticker, too and loved it! Did you, by any chance, check out an internet site (damn if I forgot the name) that was dedicated to videos of people apologizing to the rest of the world for the last election??!! It was FANTASTIC!!

Interesting, I didn't know that we were actually printing more money, thanks for the info, Anthony. Stuff like that doesn't hit CNN, but I sure did hear about Spitzer's hooker all day long. AS IF I gave 2 shi*s.

 

[upstream]

Rachel,

Never heard of it, but is sounds funny. If you see it again let me know where it is!

 

[TLight]

Can't deal with it

I prefer to sit in my cabin and meditate..........go to a place of peace.

I think the economy is supposed to be doing this, gas is supposed to be this high. Part of a good rebalancing to get Americans away from the rampant materialism that is evil for the whole world.

I don't want people to stress and hurt, but perhaps it will make them change some of their calous, self-centered ways.

I hurt for the families that are struggling though. I hope the stress doesn't cause abuse.

 

[JustJane]

This is an issue that I think causes me great concern. I have been in a big city, been a farmer and am now tasting life as a mountaineer. When I am in my happy place, I am just alone in the woods, but that's another story

As a farmer, you develop a mentality about your responsibility in providing for yourself, your crops and your livestock. You take to heart saving the things you know you will need and keeping a well-stocked pantry or larder. When you see a sale on something you always use, you get as much of it as your budget will allow. It's not just about food, it's also about toilet paper, bars of soap, deodorant, fabric, dog food, crayons or safety pins. If you use it, stock up on it.

When hard times come, these are things I will not have to buy, and can give my budget a breather. What might have been grocery money this time last year doesn't have to be used for groceries. I can use that money to fill the car.

I have often been thought of as a doomsayer and nothing is further from the truth. I'll be fine if the recession is finally admitted to be what it really is; a second Great Depression. No, I don't have dry goods and canned goods to last 10 years nor even one. But it gives me a boost in saving and rearranging my finances to cushion me a bit longer than the person who buys groceries as only when they are out of most everything.

If everyone in the country would adopt the farmer's mentality and take responsibility for themselves and be ready for hard times when they come, we could ease the burden on our overall resources.

What scares me is that the media is openly broadcasting that the US is "afraid" of China. What are they thinking?! Our undoing is at hand and we can pretty much thank the freedom of the press for taking us there on an express train. Imagine this country under Martial Law and food rationing with our mainland turned into a combat zone. How many people nationwide are ready for long term isolation?

Our government has been urging Americans to prepare and be ready (ready.gov) literally since 2001. I believe September is national preparedness month. I have to wonder how many Americans have seen the writing on the wall and are ready to shelter in place or get to a retreat when it all falls apart. How many will know how to grow a garden full of vegetables? How many will know how to can, dehydrate or preserve what they grow? It's as old as the story of the three pigs. I believe that was the earliest attempt to get people into the mindset of preparing for the future. Now that the future is here, it's a tad too late to start stocking up on those things you will need for a few months. And what happens when I tried to get others to see the wisdom in this? "You're paranoid!" One of my doctors said that, too. That's why he referred me to a psychiatrist.

I can't help wondering how many people diagnosed as paranoid were or are farmers.