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Thread: Economic Recession good fer us?

  1. #1

    Default Economic Recession good fer us?

    Serious question: Is it? How'd we get into this mess? People buying things they can't afford and racking up a credit debt. We're too materialistic, and a lot of people (especialy people my age) don't have very good money management skills. This recession is going to remind us that life isn't going to be smooth sailing, and there will be bumps in the road and (if you can handle one more metaphor) we may sometimes need to save that money for times when we need to tighten our belts.

    Everyone I know between the ages of 14-18 has a cellphone, payed for of course by their parents. A lot of them, and adults, are reckless with their money. They want to buy, buy buy, without thinking about the consequences.

    Kind reminds me of the roaring twenties. Everyone was buying with credit. Then what happened? The economy went into the crapper and we got the great depression. Our grandparents came out of that a little bit wiser with their money.

    So, if this gets worse before it gets better, it's going to affect our society positively. We're going to learn better money management, and we won't buy crap we don't need. We'll sharpen the way we live and cut out all unecesary expenses. Oh, and it's healthier too. People don't eat out as much when a recession is going on. USATODAY.com - Recession is good for you?

    So, we suck it up for the next few months/years, and hopefully we'll all come out better people on the other side.

  2. #2

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    Well as all U. S. citizens are well aware, Canada is to blame, with their reckless logging, converting Canadian log money into Chinese Yen, which is used to buy up perfectly good U.S. mortgages, purposely inflated by Chino/Canadian added interest, and thus collapsing the world economy. Yes, once the Canadians got in bed with the Chinese, it was all over for the honest U.S. home buyer. Of course other, less responsible people have alternate theories, like Americans were total butt holes buying houses they couldn't afford, and evil banks financing Disney Land sized houses for people making $17,000. a year, knowing full well that Fanny Mae and Freddy Mac would buy these pieces of fantasy literature.

  3. #3

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    It will be "good" if we don't just end up making the same mistakes all over again. If we don't learn from our mistakes, then it is no good at all. And many people would prefer that we just go back to the way things were and make the same mistakes.

  4. #4

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    Well, if we don't learn from our mistakes, we'll fall. For good, maybe. If history has taught us anything, it's that every good things and all great empires will eventualy come to an end.

  5. #5
    Mako

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    Quote Originally Posted by dogboy View Post
    Well as all U. S. citizens are well aware, Canada is to blame, with their reckless logging, converting Canadian log money into Chinese Yen, which is used to buy up perfectly good U.S. mortgages, purposely inflated by Chino/Canadian added interest, and thus collapsing the world economy. Yes, once the Canadians got in bed with the Chinese, it was all over for the honest U.S. home buyer.
    First, source on how it caused the collapse. Second fuck off, Canada is not a colony of the United States. We can trade with any damn nation we want, we don't need your approval and consent.

    Your country screwed up, take some damn responsibility. Your banks made idiotic loans backing them with a reckless and retarded formula.
    Recipe for Disaster: The Formula That Killed Wall Street
    American bankers and investors dug there own damn grave, Canadian bank did not buy into sub-prime mortgaging, and we have much better regulatory systems in place. Thats why our country hasn't been devastated, by the use of common sense.
    Don't sell something unstable that doesn't account for variables and failure.

    We also learned from our mistakes, that we have to make our economy less reliant on the U.S. so if you go under, we can still prosper and not be dragged down too.

  6. #6

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    I have spent my working career saving and living frugally. I've also spent years in schooling to learn a very specialized corpus of knowledge.

    My years of saving went out the door, especially in the last quarter of 2008. My years of schooling won't matter when there are no jobs.

    In effect, I think that this kind of a collapse only benefits those who helped create it.

    In short, it won't "help" me to live within frugal or reasonable bounds; that's what I've done my whole working life. It will also not "help" people who were reckless with their money improve, as they are being rewarded with mortgage re-negotiations. Frankly, I'm going to take it up the butt three times for this: once for not living outrageously in the first place and getting the multiple plasma-screen TVs that folks who poured their paychecks into recreation got; and again when I have to rebuild (somehow) my retirement accounts that are now devastated; and finally when I get a job with a significantly lower earning potential than it had when I went into school - if at all.

  7. #7

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    Quote Originally Posted by Mako View Post
    First, source on how it caused the collapse. Second fuck off, Canada is not a colony of the United States. We can trade with any damn nation we want, we don't need your approval and consent.

    Your country screwed up, take some damn responsibility. Your banks made idiotic loans backing them with a reckless and retarded formula.
    Recipe for Disaster: The Formula That Killed Wall Street
    American bankers and investors dug there own damn grave, Canadian bank did not buy into sub-prime mortgaging, and we have much better regulatory systems in place. Thats why our country hasn't been devastated, by the use of common sense.
    Don't sell something unstable that doesn't account for variables and failure.

    We also learned from our mistakes, that we have to make our economy less reliant on the U.S. so if you go under, we can still prosper and not be dragged down too.

    ...I think he was being sarcastic...

  8. #8

    Default

    To the OP:

    I want to amend my past post.

    Namely, that this is a wonderful thing for we in the USA to go through.

    Just brush up on your Chinese.

  9. #9

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    That was sarcasm, man... The guy was just making a joke, poking some fun, that's all. Thought it was rather obvious, being so rediculous.

  10. #10

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    Quote Originally Posted by Chillhouse View Post
    That was sarcasm, man... The guy was just making a joke, poking some fun, that's all. Thought it was rather obvious, being so rediculous.
    I'll tell you what's ridiculous, the way you spell "Ridiculous." Hahaha, Play me off Johnny!

    Really though, I think that the overly greedy have kind of screwed over those who save their money and otherwise practice safe spending. I certainly hope that they learn from their mistakes. But come on, what are the odds of that?

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