Title: Seeds of a second Great Depression
Description: They're growing.
Lorpius Prime - July 15, 2007 04:49 AM (GMT)
Sometimes the advertising that gets put on this site actually leads to fascinating (or in this case, disturbing) reads:
http://www.economyincrisis.org/The Doha round of trade talks are essentially dead, and protectionist and nativist sentiments are on the rise in the United States. Now all we need is a war to drive us near to bankruptcy. <_<
RancerDS - July 15, 2007 05:00 PM (GMT)
| QUOTE (Lorpius Prime @ Jul 14 2007, 11:49 PM) |
| Now all we need is a war to drive us near to bankruptcy. <_< |
Oh, the trillion dollars the U.S. government spent on invading Iraq and Afghanistan doesn't count as that war leading to bankruptcy??
Kevin Beckman - July 15, 2007 11:04 PM (GMT)
Why do we practice free trade with people who don't want to give us the same consideration?
Lorpius Prime - July 17, 2007 02:26 AM (GMT)
| QUOTE (RancerDS) |
| Oh, the trillion dollars the U.S. government spent on invading Iraq and Afghanistan doesn't count as that war leading to bankruptcy?? |
No, Rancer, that's not what I was implying at all. :rolleyes:
| QUOTE (Kevin Beckman) |
| Why do we practice free trade with people who don't want to give us the same consideration? |
Because it's still the best policy. Free trade is the most beneficial when everyone plays along. But even if other countries are putting up their own barriers, we don't do ourselves any favors by responding in kind.
Kevin Beckman - July 26, 2007 09:33 PM (GMT)
DOW dropped over 300 points today over yet another drop in new home sales.
Are we there yet?
Lorpius Prime - July 27, 2007 04:25 AM (GMT)
| QUOTE (Kevin Beckman @ Jul 26 2007, 04:33 PM) |
DOW dropped over 300 points today over yet another drop in new home sales.
Are we there yet? |
No.
While we're definitely going through a market correction for overspeculation in real estate, and are probably on the brink of another one for overspeculation on credit, a true global depression, if there is one coming, is still a ways off yet. We're just now starting to lay the groundwork as the global free trade regime is succumbing to bickering and protectionist sentiment. And the national debt, while huge, is still nowhere near the level that this economy can absorb before it reaches a critical mass.
RancerDS - July 27, 2007 06:52 AM (GMT)
As Lorpius probably already knows, our economy affects the world economy... and vice versa. Noticed this article on BBC Business News...
| QUOTE (Excerpt) |
Worrying conditions
The Nikkei lost 418.28 points to end the week on 17,283.81.
On Thursday, New York's Dow Jones Industrial Average lost 311.5 points, or 2.3%, dropping to 13,473.57, while the S&P 500 shed 2.3% to 1482.66.
In London, the FTSE 100 closed 203.1 points, or 3.2%, lower at 6,251.20. |
The full article is
here.
** While a financially-wisened economist would gauge this as bad news, it is only an indicator. Just like reports of unemployment and percentage change in durable goods' sales, it isn't a full guage of whether it is all bad or all good news... in my opinion. The stock markets are secondary markets in the valuation of company ownership which is highly jaded by perception and is often misleading in either a companies' financial reports or market activity on their issued stocks.
But yeah, it's a bad indication.
Kevin Beckman - July 10, 2008 03:33 AM (GMT)
Well it's almost been a year later. How are things looking now?
unitedcitizens - September 15, 2008 12:15 PM (GMT)
Lehman files chapter 11 and Merill Lynch sells out to BOA. Hmmmm.
