Think the government will stop harping about how a recession won't happen, now?
February 16, 2008 6:56pm CST
http://www.reuters.com/article/ousiv/idUSN1556555920080215?sp=true ^ "Bleak economic reports signal recession" There's been bad signs for a little while now..and I personally have no doubts about it. We're in for some rough times ahead. What do you all think?
• United States
19 Feb 08
Those of us paying attention already know we are in a recession no matter what the man in the box is telling us. People would do well to turn off their TV's and do some research. A depression is afoot, and people best start preparing for it. Good find, btw.
• United States
25 Feb 08
Recession is quite a mild way to put it, I think. Between the billions we've spent on Iraq, the housing market implosion and the fact that our banks are going to foreign governments to beg for money, I'd say were headed back to people flinging themselves out of windows again. We have only two people to blame. Our illustriously incompetent government and ourselves. First off, Adjustable Rate Mortgages should be illegal. The government knew that the housing market was a house of cards. Especially at the exorbitant rates they charge. My own experience with buying a home nearly bankrupt me. The day we were supposed to go to closing. Sean from World Trade Mortgage called and said he couldn't do the 6.6% rate he promised. Instead, he tried to get me to finance the first 80% at 7.9% and the rest at 12.2%!!! How many Sean's are out there? And not very well regulated. Delaware's banking commission truly sucks donkey balls, they were absolutely no help. Capitalism is on the brink of implosion and government needs to protect its citizens from it. Next, Americans just dont save. We live in a society where most of us live paycheck to paycheck while the media glorifies wealth and possession. The message that, "If you dont have money you dont exist." rings loud and clear in the USA. Our great grandchildren will be paying off our debt, the way we are paying off the greatest generation's debt. What we, not the government, need to do is seize Big Oil's assets and redistribute their wealth amongst us, the people. Damn Bush, the house of Saud, and all the rest of the greedy bloodsuckers who have led us to this point !!