someone explain this economy shit

[yourchamp23 10+ year member]

• Banks loan money to people that don't pay it back
  
• Banks lie about how much money they have vs how much they didnt get paid back
  
• Government launch probe into banks and discover they are out of money and can not even pay back the money that they borrowed to lend
  
• People need money to buy a house but banks don't have it to lend
  
• Houses that were built dont get sold because ppl can get a loan
  
• Builders now can not pay for material they purchased
  
• Companies go out of business because of non payment
  
• People lose jobs because of it.
  

Yadda yadda yadda..

 

[Flipx99 5,000+ posts]

I definitely understand that angle, the writing was on the wall though, and if you are already living beyond your means you really needed more than just consolidating credit card debt only to run cards up again.


Thats why I kind of support paying for my neighbors mortgage via fed bailout of shitty home owners...tired of my home value dropping

Hard to keep up with the Jones' without credit. Or you can be like me...I found a free car:

 

[duece212 5,000+ posts]

Hard to keep up with the Jones' without credit. Or you can be like me...I found a free car:

I'm all about that man. I'm selling off all my shit so I can sell my truck and pick up a couple thousand dollar little single cab s10. I gotta admit, I've been a glutton for too long, I'm a late comer to the idea of fiscal responsibility

 

[Flipx99 5,000+ posts]

I'm all about that man. I'm selling off all my shit so I can sell my truck and pick up a couple thousand dollar little single cab s10. I gotta admit, I've been a glutton for too long, I'm a late comer to the idea of fiscal responsibility

Indeed. I found that thing for free as a hedge against higher fuel costs. Sure I could go out and borrow $10k to get a nicer gas friendly car. But with a lew trash bags, few interior pieces, a new head, and I have a nice daily driver under $500. And 30mpg is 30mpg. It doesn't matter that it is older than some of the members on this forum.

I used my housing credit money to pay off some CCs. Now all I owe is student loans and my house...and I am okay with that. But yeah, I have become x100 more conservative in the last year.

 

[thegreatestpenn 5,000+ posts]

Greed brings every great nation down, lets hope it is not America's turn.

 

[TNTR70 10+ year member]

something to look at to besides the 7% uneployment rate is this. people that are commissioned base or mom and pop type self-employed people that aren't out of work but their income is down 60 to 70% because of the economy. you figure thier debt ratios at 40% of their income and now they are quickly sinking. thats alot of non-spending that isn't showing up on the 6 o'clock news

 

[Flipx99 5,000+ posts]

I will be helping the economy. I plan to get an iPod on Friday.

 

[newusername 10+ year member]

2 points:

1. High oil prices were driven by consumers and rampant speculation, not Democrats. The idea you're hinting at is the Democrats unwillingness to drill in restricted areas; the reality is that these drilling projects were too late, are slow to develop, and would only temporarily solve the problem. What you're seeing right now, with respect to oil prices, is a decreased demand and, again, speculation.

2. If the US reported unemployment like most other countries, it would actually be higher. Speculatively speaking, about 2-3% higher, probably. Really, that only matters for comparison against other countries; of course comparing it against other historical US figures makes that irrelevant.

 

[duece212 5,000+ posts]

2 points:
1. High oil prices were driven by consumers and rampant speculation, not Democrats. The idea you're hinting at is the Democrats unwillingness to drill in restricted areas; the reality is that these drilling projects were too late, are slow to develop, and would only temporarily solve the problem. What you're seeing right now, with respect to oil prices, is a decreased demand and, again, speculation.

2. If the US reported unemployment like most other countries, it would actually be higher. Speculatively speaking, about 2-3% higher, probably. Really, that only matters for comparison against other countries; of course comparing it against other historical US figures makes that irrelevant.

We need to pull out of Iraq and invade Canada, your oil is closer

 

[Flipx99 5,000+ posts]

2 points:
2. If the US reported unemployment like most other countries, it would actually be higher. Speculatively speaking, about 2-3% higher, probably. Really, that only matters for comparison against other countries; of course comparing it against other historical US figures makes that irrelevant.

I wish they would report a number for those who are employed but no longer working 40 hour weeks.

Then you'd get a better picture.

 

[IgnoreMe 5,000+ posts]

**** this thread. i regret making it.

 

[duece212 5,000+ posts]

I wish they would report a number for those who are employed but no longer working 40 hour weeks.
Then you'd get a better picture.

Or working for 1/2 or 1/4 the wages they were 6 months ago

**** this thread. i regret making it.

You made it, you deal!

 

[Flipx99 5,000+ posts]

**** this thread. i regret making it.

why?

 

[newusername 10+ year member]

Obama's plans for a cap system on emissions (which will travel north), as well as the environmental regulations impending (ditto), will be damaging to our oil sands, which is about 95% of that reserve.

edit: Oil prices also must be much higher to make it worthwhile. Depending on the method used, it costs $40-$80/barrel to produce.

 

[duece212 5,000+ posts]

Obama's plans for a cap system on emissions (which will travel north), as well as the environmental regulations impending (ditto), will be damaging to our oil sands, which is about 95% of that reserve.
edit: Oil prices also must be much higher to make it worthwhile. Depending on the method used, it costs $40-$80/barrel to produce.

Aren't you guys the 2nd or 3rd volume importer of oil to the US?

Currently, that is