U.S. Economy 2009!

m4a1mustang · 07-22-2009, 02:58 PM

*popcorn*

Pushing_Tin · 07-22-2009, 03:00 PM

Quote:

Originally Posted by m4a1mustang

*popcorn*

Lockdown within 2 days.

Pushing_Tin · 07-22-2009, 03:00 PM

Bush Administration Adds $4 Trillion To National Debt

Bush Administration Adds $4 Trillion To National Debt - Couric & Co. - CBS News

FuszNissan · 07-22-2009, 04:01 PM

^^Did you know it comes in 2 expressions.
There will be a lot of work to come; to unwind what he has done...lol that rhymed

GMZ · 07-22-2009, 04:07 PM

^^^Agree 100%, maybe 110%, except the banks/fed are in bed with the govt.

m4a1mustang · 07-22-2009, 04:10 PM

Threads like this are interesting to me because I like to see what people on "main street" are thinking. Whether I agree with it or think it's misguided, unfounded, or simply uneducated it doesn't matter... it's interesting!

fly yellow · 07-22-2009, 04:41 PM

After 9/11 interest rates were lowered to an unrealistic number to keep the economy moving. Credit standards were also lowered. Home prices soon inflated to an unsustainable number simply because people were buying homes based on payments, and the lower interest rates lowered the payments, plus you had more buyers in the pool due to the fact that anyone could get a home loan. Those that didn't buy still took advantage of the situation by cashing in on their newfound equity at a lower rate. The economy was firing on all cylinders, but it was fueled on nothing but debt. After a couple years the defaults came pouring in. Credit tightened up to a point where it has overcorrected. People can't take on anymore debt to fuel the economy, and their liquidity went out the window as the value of their assetts tumbled.

The current and past administrations both contibuted to government bailouts to artificially slow the downturn. That was and is a huge mistake. Soon we will have to pay the inflation piper.

Cap all of this off with the new entitlement generation, where people think they are entitled to a college education, and then they are entitled to a good job afterwards, coupled with businesses realizing that these people really didn't learn any real world skills in college and the fact that the economy has slowed to a standstill, and you have lost jobs that just aren't going to come back.

In shrot we are tremendously screwed. Recovery is going to be slow and very painful. The question is do you want the government to keep interfering with the free market which may make the pain hurt slightly less, but last years longer, or do you want to let the market correct itself and suffer more in the short term, but recover much quicker. I guess a good analogy would be would you rather someone follow you around for 5 years constantly tapping on the back of your head with a hammer, or would you rather just have them give you one good whack and let you spend a couple weeks in ICU getting back to normal.

BanningZ · 07-22-2009, 05:42 PM

Alexus · 07-22-2009, 05:46 PM

Quote:

Originally Posted by BanningZ

+1, really.

AARC51 · 07-22-2009, 06:59 PM

I believe it's only going to get worse. With the government refi plan it now makes sense to stop paying your mortgage for several months to qualify for the federally guaranteed lower interest rate.

GMZ · 07-22-2009, 07:29 PM

Quote:

Originally Posted by AARC51

I believe it's only going to get worse. With the government refi plan it now makes sense to stop paying your mortgage for several months to qualify for the federally guaranteed lower interest rate.

That's called moral hazard and there was plenty of it going on before all this mess.

frost · 07-22-2009, 07:45 PM

Wow, this thread has made it almost 6 hours? Surprising.

dad · 07-22-2009, 07:54 PM

Let's have socialized medicine.

GMZ · 07-22-2009, 08:20 PM

Quote:

Originally Posted by dad

Let's have socialized medicine.

No thanks, I can't think of anything the govt has gotten involved in that it hasn't screwed up

AARC51 · 07-23-2009, 12:40 AM

Quote:

Originally Posted by GMZ

No thanks, I can't think of anything the govt has gotten involved in that it hasn't screwed up

If anyone thinks the current situation is ideal they're either uninformed or stupid. I will break down the problems I've seen from the inside regarding the health system in this country in my own thread later on.

07-22-2009, 02:58 PM	#1 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6964	popcorn __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook!

07-22-2009, 04:01 PM	#4 (permalink)
FuszNissan A True Z Fanatic Join Date: May 2009 Location: St. Louis Posts: 14,275 Drives: Pure Sex Rep Power: 544	^^Did you know it comes in 2 expressions. There will be a lot of work to come; to unwind what he has done...lol that rhymed __________________ Mods: Too Many to list! LouFuszNissan ZDAYZ 2012

07-22-2009, 04:10 PM	#6 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6964	Threads like this are interesting to me because I like to see what people on "main street" are thinking. Whether I agree with it or think it's misguided, unfounded, or simply uneducated it doesn't matter... it's interesting! __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook!

07-22-2009, 04:41 PM	#7 (permalink)
fly yellow Enthusiast Member Join Date: May 2009 Location: Baltimore, MD Posts: 455 Drives: 09 yellow 370z Rep Power: 267	After 9/11 interest rates were lowered to an unrealistic number to keep the economy moving. Credit standards were also lowered. Home prices soon inflated to an unsustainable number simply because people were buying homes based on payments, and the lower interest rates lowered the payments, plus you had more buyers in the pool due to the fact that anyone could get a home loan. Those that didn't buy still took advantage of the situation by cashing in on their newfound equity at a lower rate. The economy was firing on all cylinders, but it was fueled on nothing but debt. After a couple years the defaults came pouring in. Credit tightened up to a point where it has overcorrected. People can't take on anymore debt to fuel the economy, and their liquidity went out the window as the value of their assetts tumbled. The current and past administrations both contibuted to government bailouts to artificially slow the downturn. That was and is a huge mistake. Soon we will have to pay the inflation piper. Cap all of this off with the new entitlement generation, where people think they are entitled to a college education, and then they are entitled to a good job afterwards, coupled with businesses realizing that these people really didn't learn any real world skills in college and the fact that the economy has slowed to a standstill, and you have lost jobs that just aren't going to come back. In shrot we are tremendously screwed. Recovery is going to be slow and very painful. The question is do you want the government to keep interfering with the free market which may make the pain hurt slightly less, but last years longer, or do you want to let the market correct itself and suffer more in the short term, but recover much quicker. I guess a good analogy would be would you rather someone follow you around for 5 years constantly tapping on the back of your head with a hammer, or would you rather just have them give you one good whack and let you spend a couple weeks in ICU getting back to normal. __________________ A severed foot is the ultimate stocking stuffer. Mitch Hedberg

07-22-2009, 05:42 PM	#8 (permalink)
BanningZ A True Z Fanatic Join Date: Nov 2008 Location: nowhere Posts: 5,478 Drives: 06' Nismo Frontier Rep Power: 30	__________________ Become a Premium Member: Click HERE MB 06' Nismo VQ40DE

07-22-2009, 03:00 PM	#3 (permalink)
Pushing_Tin A True Z Fanatic Join Date: Nov 2008 Location: Eugene, OR Posts: 2,875 Drives: E63 AMG Rep Power: 229	Bush Administration Adds $4 Trillion To National Debt Bush Administration Adds $4 Trillion To National Debt - Couric & Co. - CBS News

07-22-2009, 04:07 PM	#5 (permalink)
GMZ Enthusiast Member Join Date: Jun 2009 Location: Virginia Beach Posts: 304 Drives: 07 V8 4Runner 4x4 Rep Power: 17	^^^Agree 100%, maybe 110%, except the banks/fed are in bed with the govt.

07-22-2009, 07:45 PM	#12 (permalink)
frost Retired admin Join Date: Dec 2008 Location: Winterfell Posts: 106,613 Drives: Your Wife Crazy Rep Power: 0	Wow, this thread has made it almost 6 hours? Surprising.

07-22-2009, 07:54 PM	#13 (permalink)
dad Grand Prix of Endurance Join Date: Nov 2008 Location: Tennessee Posts: 3,476 Drives: Mulsanne Straight Rep Power: 27	Let's have socialized medicine. __________________ We can do without any article of luxury we have never had; but once obtained, it is not in human nature to surrender it voluntary.

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