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View Full Version : Forbes predicts economic recession



Lionmane
06-19-2006, 09:30 PM
http://www.forbes.com/newsletter/2006/06/06/stack-recession-in_js_0606soapbox_inl.html

Now is the time to get out of debt.

mw

sean
06-19-2006, 09:55 PM
Well the Mormon's have been saying it for years... but isn't that a bit like me predicting a war in Iraq? It started a while ago... I mean I know the Dow had a REALLY good day the other day and gas prices have been dropping for a week or so, but aside from this week, hasn't the economy been in a slump for a couple of years?

edit: And I know a slump is different from a recession, but I know I heard all this talk about being in a recession on the news talk shows, so when exactly was that recession considered "over" - cus I certainly didn't hear about it...

gcn_zelda
06-19-2006, 09:59 PM
Haha, Sean. You're amazing.

SniperSAS
06-20-2006, 03:05 PM
uh oh guys is this going to be the sequel to the great depression

whiteflags
06-20-2006, 03:21 PM
No, the Great Depression probably can't happen again for lots of reasons. One of them being the existance of the FDIC.

Govtcheez
06-20-2006, 03:38 PM
lionmane posts alarmist story, news at 11!

SniperSAS
06-20-2006, 03:52 PM
oh wait he is the guy that posted the crappy prequel to my excellent "your government will maintain control" thread

guys remember he said "facist states of america"

edit- VV yes VV

SlyMaelstrom
06-20-2006, 04:18 PM
You mean the kind of guy that complains about everything but come election day doesn't get off his ass and vote?

Lionmane
06-20-2006, 11:19 PM
It's spelled "fascist":
http://dictionary.reference.com/browse/fascism

And there's no law preventing the Great Depression from happening again. However it won't be like last time because our next depression will mark the dissolution of America (specifically the Constitution).

America *has* to be dissolved to make way for the emerging global government.

mw

SlyMaelstrom
06-20-2006, 11:23 PM
Well, he's not that smart... but you gotta admit, it is kinda fun to see what he'll say next.

Lionmane
06-20-2006, 11:25 PM
Sorry, when I said "depression", I should clarify:

The recession coming this/next year is just the beginning. It will grow into a depression.

mw

whiteflags
06-20-2006, 11:51 PM
And there's no law preventing the Great Depression from happening again. Of course.

However it won't be like last time because our next depression will mark the dissolution of America (specifically the Constitution). [...] it will grow into a depression
Uh hu, extraordinary claims require extraordinary evidence. How are you so sure? You read one article, and decide that you are an expert on economics. The world economy has experienced recessions before. So no matter how much you hate it, the United States will not simply disappear from existance because of a recession. It's a natural part of the economy. You might as well have told CProg to start hiding money under thier mattresses.

The economy also has nothing to do with democracy AFAIK.

Lionmane
06-20-2006, 11:56 PM
The dissolution of America was just my opinion.

It's based on my impressions of American citizens. I feel certain that Americans will not tolerate freedom when faced with economic hardship.

mw

major_small
06-21-2006, 12:01 AM
The dissolution of America was just my opinion.

It's based on my impressions of American citizens. I feel certain that Americans will not tolerate freedom when faced with economic hardship.

mw
go outside... you'll like it.

VirtualAce
06-21-2006, 12:15 AM
That article equates to one man's opinion on the current status of the stock market and his predictions for the future.

To get a much broader view you would have to consult many many sources concerning the issue and when you do so I believe you will find that the theories presented in the article would come under heavy fire from many people. You would also find some that might agree with him.

However basing your entire economic viewpoint on one article is not smart. Economics is a huge field with a lot of differing opinions floating around, just like pretty much everything else.

With the release of the XBox and PS2 there were magazines predicting doom and gloom for the PC, especially because MS got into the console battle. But we see again that the PC
doomsday predictions have not come true.


Interesting note in my local paper today was that gas prices have dropped, not due to the market, but due to oil companies and OPEC losing money due to falling demand. Falling demand in the middle of summer in the US? So the doomsday oil predictions won't come true either because the prices will have to drop if people stop buying it because they cannot afford it. At the point that the prices are so high no one can buy it, they will fall significantly, that is, if by that time alternate energy sources and fuel have not made significant inroads into the economy. Oil will run itself out of business long before we run out of oil. Again, doomsday predictions are wrong.

Doom and gloom is rarely, if ever, the complete truth.

And time to get out of debt eh? When is there NOT a good time to get out of debt? Do you have any idea what percent of the population here in the U.S. is in debt to either credit card companies, loan companies, etc, etc? Guess what chief? Debt is what makes our economy tick. If everyone stopped buying items because they did not want a loan or payment per month, I bet the market would go belly up quickly.

Your type of reactionary rhetoric is exactly what caused the Great Depression. A perceived scare or threat in the economy can wreak havoc, even if it is an incorrect perception.

Lionmane
06-21-2006, 12:18 AM
Bubba,

That is certainly the most intelligent response I've seen in reply to any of my posts.

Thank you.

mw

Govtcheez
06-21-2006, 05:32 AM
Can kermi or alex or someone ban Lionmane from GD, please?

edit: Bubba's post, while true, shouldn't be anything earthshattering if you have even a basic grasp of economics or how the world works.

axon
06-21-2006, 06:29 AM
and ban gc for the lack of a "normal" avatar. grrrrrr at gc and his creativity.


;)

sean
06-21-2006, 06:20 PM
If I recall, govtcheez was that freak in the '30's who still wanted freedom when the price of a Moon Pie rose above a nickel...