Getbig.com: American Bodybuilding, Fitness and Figure
Getbig Main Boards => General Topics => Topic started by: Cavalier22 on September 14, 2008, 07:26:30 PM
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Fact: 2007-2008 There have been 13 bank failures. Sound catastrophic??? Think again.
From 1999-2000 There were 15 bank failures.
20 years ago, in recession free 1988-89 there were 1,004.
In fact, since the end of the Great Depression the average number of bank failures has been 94.
Haha it's all some bullsh*t politicains throw around to scare people or to prove to them how bad things are... Just like when they say we are in a recession, when in reality we are not. Anyone who says we're in a recession, or heading into one- especially the "worst since the Great Depression"- is making up his own private definition of 'recession'. And probably for political purposes
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Yeah, U.S. economy is doing GREAT - only a fool would disagree ::)
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Who said great? I simply said we are not in a recession nor is it likely we will be soon.
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Greenspan: USA in 'once-in-a-century' financial crisis... www.drudgereport.com
Problem is that 3 or 4 of the largest banks in America are all failing in the same month.
This won't kill the dollar or anything, but this will cost most of us 20 to 40% of our 401k when all is said and done.
You can thank Bush and the 4.5 trillion he borrowed to grow the govt and fight the iraqi war... you can't borrow 4.5T and not expect the dollar to lose value. It's down 41% against Euro since he took office... and it's possible we'll see DOW at 9000 this week.
It'll recover, but our retirement will shrink this week.
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Fact: 2007-2008 There have been 13 bank failures. Sound catastrophic??? Think again.
From 1999-2000 There were 15 bank failures.
20 years ago, in recession free 1988-89 there were 1,004.
Junior, I dont know where the hell you were doing the late 80's but we had a Savings and Loan meltdown that almost BKed the FDIC.
The US (read-taxpayers) bailed out those S&L's to the tune of billions.
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I was 7 years old.
But glad to see things don't change (tax payers bailing out companies/industries)
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Greenspan: USA in 'once-in-a-century' financial crisis... www.drudgereport.com
Problem is that 3 or 4 of the largest banks in America are all failing in the same month.
This won't kill the dollar or anything, but this will cost most of us 20 to 40% of our 401k when all is said and done.
You can thank Bush and the 4.5 trillion he borrowed to grow the govt and fight the iraqi war... you can't borrow 4.5T and not expect the dollar to lose value. It's down 41% against Euro since he took office... and it's possible we'll see DOW at 9000 this week.
It'll recover, but our retirement will shrink this week.
What?
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I feel so much better now that some dopey kid has shown me the light.
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What?
www.drudgereport.com has a lot of info on the money crunch.
Former Fed Chairman Alan Greenspan says things are very very bad.
I'm not too worried... there's been a bubble, and homes are NOT worth as much as people foolishly bought them for, and it's resetting now.
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Cav everyone on here is a major Wall Street player, haha they have the inside scoop.
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The United States is mired in a "once-in-a century" financial crisis which is now more than likely to spark a recession, former Federal Reserve chief Alan Greenspan said Sunday.
The talismanic ex-central banker said that the crisis was the worst he had seen in his career, still had a long way to go and would continue to effect home prices in the United States.
"First of all, let's recognize that this is a once-in-a-half-century, probably once-in-a-century type of event," Greenspan said on ABC's "This Week."
Asked whether the crisis, which has seen the US government step in to bail out mortgage giants Freddie Mac and Fannie Mae, was the worst of his career, Greenspan replied "Oh, by far."
"There's no question that this is in the process of outstripping anything I've seen, and it still is not resolved and it still has a way to go," Greenspan said.
"And indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes.
"That will induce a series of events around the globe which will stabilize the system."
Greenspan was also asked whether the United States had a greater-than 50 percent chance of escaping a recession.
"No, I think it's less than 50 percent.
"I can't believe we could have a once-in-a-century type of financial crisis without a significant impact on the real economy globally, and I think that indeed is what is in the process of occurring."
The former Federal Reserve chairman also predicted that the financial crisis would see the failure of more major financial institutions, even as embattled Wall Street investment giant Lehman Brothers scrambled to find a buyer.
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Fact: 2007-2008 There have been 13 bank failures. Sound catastrophic??? Think again.
Unfortunately they are some of the very biggest financial institutions that have been around forever. In the end the world won't end but our taxes will likely double in the near future. The government and regulators have messed up big and it's up to the us, the taxpayer to bail them out. Our currency has been crushed the past 2 years and will remain on a downward trend. Overall, our standard of living WILL go down bad. Americans have had a bad habit of living well beyond what we can afford, and now during bad times it'll hurt us.
Funny Greenspan is talking about the horrible sub prime mess. His policies have lead to this. Poor Ben is left with the shaft.
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Greenspans hands are certainly not totally clean.
Dopey kid? I'd put my education credentials against yours anyday, if I cared enough to release my info on here
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Greenspans hands are certainly not totally clean.
Dopey kid? I'd put my education credentials against yours anyday, if I cared enough to release my info on here
Oooh. BA from the University of Virginia. I'm scared. ::)
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Greenspan: USA in 'once-in-a-century' financial crisis... www.drudgereport.com
Problem is that 3 or 4 of the largest banks in America are all failing in the same month.
Apparently Greenspan's a big part of the deregulation that led to this, so really is he a reliable source? For now it's just the usual necessary cleansing needed after the last unregulated round of gorging by various institutions that got fat off this shit in the first place, such as Lehman.
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Apparently Greenspan's a big part of the deregulation that led to this, so really is he a reliable source? For now it's just the usual necessary cleansing needed after the last unregulated round of gorging by various institutions that got fat off this shit in the first place, such as Lehman.
Methinks that the guy who built the boat would be the one to ask how fast it'll sink.
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I just wish we'd hurry up and get fucked, all this dragging it out is losing the *pop*, know what I mean?
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Methinks that the guy who built the boat would be the one to ask how fast it'll sink.
He didn't know how or want to build this particular boat.
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From this thread, it's fair to say that state schools will take just about anybody these days. :-\
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i have a masters now buddy. where did you go to school?
Where did you go to undergrad?
UVa: one of only 3 Public universities (w cal-berkely, michigan) in the top 25.
btw our football team sucks this year, wtf is that
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From this thread, it's fair to say that state schools will take just about anybody these days. :-\
:D
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From this thread, it's fair to say that state schools will take just about anybody these days. :-\
Lol. Yeah anyone who wastes their time on Getbig is suspect, I agree. Although I guess we are both in the same boat on that one
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Who said great? I simply said we are not in a recession nor is it likely we will be soon.
800 billion dollars/year trade deficit, 500 billion budget deficit, at chinas mercy, technological advantages being stolen/eroded rapidly, politicians who wont make any of the big/tough descisions needed to get our country back in line. could go on and on.
our troubles go way deeper than the fact that bullshit government cooked growth figures havent dipped below 0%.
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He didn't know how or want to build this particular boat.
he was fed chairman from 1987 to 2006. He knows his stuff. He admits the iraq war was about oil, he admits we're in the biggest mess in 100 years.
he has plenty of motive to downplay how bad it is (which he helped create with lax lending practice and friendly rates he approved).
Instead, he's admitting how bad it is.
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Greenspan and Reagan deregulation have spawned endless messes. Some dereg is good, but to the extent these dopes have taken it....
Volcker was great.
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he was fed chairman from 1987 to 2006. He knows his stuff. He admits the iraq war was about oil, he admits we're in the biggest mess in 100 years.
he has plenty of motive to downplay how bad it is (which he helped create with lax lending practice and friendly rates he approved).
Instead, he's admitting how bad it is.
what he doesnt metion is how big a role he had in creating the mess we're in. his policies completely distorted our economy away from productive means.
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My MBA was from an AACSB accredited school.
http://en.wikipedia.org/wiki/AACSB
I have no clue what that means.
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It means you'll be fine as long as you don't attempt to get into "educational credentials" posedowns with random people.
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It means you'll be fine as long as you don't attempt to get into "credentials" posedowns with random people.
To me, success in life is defined as how much goof-off time you can afford while still earning a good living.
A community college grad who earns 50k but has a happy life > working 80+ hours to make $200k.
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working 80 hrs/wk on an interesting project isn't half bad.
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working 80 hrs/wk on an interesting project isn't half bad.
If you want to call having no life and posting on GetBig an "interesting project", that's fine by me
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To me, success in life is defined as how much goof-off time you can afford while still earning a good living.
A community college grad who earns 50k but has a happy life > working 80+ hours to make $200k.
'the great thing about being rich is not being able to buy whatever you want, but to be able to do whatever you want' - some guy
but you could retire pretty young on 200k/yr.
working 80hrs a week making 200k and retiring at 30-40>>>making 50k/yr and retiring at 60-65
unless you really love your job of course.
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I agree, the ekonome is doing grate We arnt going to be a resession. All you guy's are stoopid.
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The United States basically has no money, plain and simple.
look for more and more global business relationships to form as a result. Not many domestic successful enterprises left with a leg to stand on.
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Who said great? I simply said we are not in a recession nor is it likely we will be soon.
we r soon to be in a depression...
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Haha anyone who thinks America is not in a recession or approaching a serious catastrophic depression is clueless. We are not talking about banks failing. We are talking about MAJOR fucking financial investment firms failing. AIG????? The biggest fucking insurance company in the world. Lehman? etc. are 150 year old companies. This is a perfect storm that is coming together. The entire U.S. economy has been built on debt. All those amazing last few years? A facade!!!!!!!! It was all pseudo economic prosperity. A house of cards. COMPLETE AND UTTER BULLSHIT! ALL DEBT! How can anyone who realizes that not understand what is going on. America is about to have a serious wake up call. The dollar is going to go extinct. And all our leaders will do is march us into more endless wars with Russia and Iran.
To the person that said deregulation was the cause of all this mess. Well yes but it has been going on since the last Great Depression. There was as much deregulation under Clinton as under any other President. I mean come the fuck on people.......quit blaming democrats and republicans.......THEY ARE BOTH RESPONSIBLE!!!!!!!!!!!!!!! WAKE UP! You think all the ex CIA holding powerful positions on WallStreet and the SEC really care if you label them a dem or repub. Haha they are laughing all the way to the bank. The U.S. taxpayer has just been anally gangraped with 9 inches of limp dick.
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So what do you suggest we do? I'm scared now...
Haha anyone who thinks America is not in a recession or approaching a serious catastrophic depression is clueless. We are not talking about banks failing. We are talking about MAJOR fucking financial investment firms failing. AIG????? The biggest fucking insurance company in the world. Lehman? etc. are 150 year old companies. This is a perfect storm that is coming together. The entire U.S. economy has been built on debt. All those amazing last few years? A facade!!!!!!!! It was all pseudo economic prosperity. A house of cards. COMPLETE AND UTTER BULLSHIT! ALL DEBT! How can anyone who realizes that not understand what is going on. America is about to have a serious wake up call. The dollar is going to go extinct. And all our leaders will do is march us into more endless wars with Russia and Iran.
To the person that said deregulation was the cause of all this mess. Well yes but it has been going on since the last Great Depression. There was as much deregulation under Clinton as under any other President. I mean come the fuck on people.......quit blaming democrats and republicans.......THEY ARE BOTH RESPONSIBLE!!!!!!!!!!!!!!! WAKE UP! You think all the ex CIA holding powerful positions on WallStreet and the SEC really care if you label them a dem or repub. Haha they are laughing all the way to the bank. The U.S. taxpayer has just been anally gangraped with 9 inches of limp dick.
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What we need to do is cutoff all the fucking money we give to foriegn countries especially i times of disaster. We are alwasy the first ones in foreign countries to help when there is an accident like earthquakes and such. How many of those countries help us. How much do we give to foriegn countries in aid and food. I say fuck all of them and keep the money here. Countries that depend on us for food like grain lets raise the price. Lets get of of Iraq and other places and keep the military here. If the countries who owed us money would pay us then maybe we wouldn't be in such debt. Why do we continue to ship shit to countries that owe us. Cut them off till they pay us. Maybe then we wouldn't be in such bad shape.
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What we need to do is cutoff all the fucking money we give to foriegn countries especially i times of disaster. We are alwasy the first ones in foreign countries to help when there is an accident like earthquakes and such. How many of those countries help us. How much do we give to foriegn countries in aid and food. I say fuck all of them and keep the money here. Countries that depend on us for food like grain lets raise the price. Lets get of of Iraq and other places and keep the military here. If the countries who owed us money would pay us then maybe we wouldn't be in such debt. Why do we continue to ship shit to countries that owe us. Cut them off till they pay us. Maybe then we wouldn't be in such bad shape.
Omg and you claim to be a business owner and a man of wealth.
WOW that post was some of the dumbest most ignorant shit i have ever read. You sir have no clue about what is going on.
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So what do you suggest we do? I'm scared now...
We need to start fighting for our right to use local currencies. We need to quit sending so much of our hard earned money to Washington. Less federal government.. People should just quit paying taxes for a while. But then they'll send the police to your door. HAHAH and we think we are free in this country? I'd rather live like a broke ass Fijian on the beach sipping coconuts and eating fish all day than an indentured slave in this country.
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In all honesty, I wouldn't. I'd miss my electronic goods too much.
We need to start fighting for our right to use local currencies. We need to quit sending so much of our hard earned money to Washington. Less federal government.. People should just quit paying taxes for a while. But then they'll send the police to your door. HAHAH and we think we are free in this country? I'd rather live like a broke ass Fijian on the beach sipping coconuts and eating fish all day than an indentured slave in this country.
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Interesting to see that no one has posted since Friday, the day that Bush announced a huge financial rescue plan by the federal government.
Going to cost the taxpayers a fortune. But the cost may pale in comparison to the average american in the future if no action was taken in the present.
I was wondering what took the feds so long to take action. Especially after Lehman bros.
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In all honesty, I wouldn't. I'd miss my electronic goods too much.
What electronic goods would you absolutely miss? Cell phone? DVD? Blender? Washing machine? Dish washer? Electric tooth brush? Ipod? Alarm clock? The only reason you'd miss these things is because you've grown up relying on them for your comfort and way of life. millions of people around the world do without those comforts and are probably a lot happier than Americans. In fact they say indigenous people are some of the "happiest" people in the world. Traditional eskimos were some of the happiest people in the world before white man started ruining their natural diet.
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What we need to do is cutoff all the fucking money we give to foriegn countries especially i times of disaster. We are alwasy the first ones in foreign countries to help when there is an accident like earthquakes and such. How many of those countries help us. How much do we give to foriegn countries in aid and food. I say fuck all of them and keep the money here. Countries that depend on us for food like grain lets raise the price. Lets get of of Iraq and other places and keep the military here. If the countries who owed us money would pay us then maybe we wouldn't be in such debt. Why do we continue to ship shit to countries that owe us. Cut them off till they pay us. Maybe then we wouldn't be in such bad shape.
China wants money back. :)
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Actually, a lot of the people around the world are happier because of a sense of community. We make up for that with electronic goods that can keep us company in absence of a live human being. Getting rid of these good would not automatically mean a happier life, although the opposite is true. Think of how much happier nerds are with the internet.
What electronic goods would you absolutely miss? Cell phone? DVD? Blender? Washing machine? Dish washer? Electric tooth brush? Ipod? Alarm clock? The only reason you'd miss these things is because you've grown up relying on them for your comfort and way of life. millions of people around the world do without those comforts and are probably a lot happier than Americans. In fact they say indigenous people are some of the "happiest" people in the world. Traditional eskimos were some of the happiest people in the world before white man started ruining their natural diet.
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6.1% unemployement and rising. Most economists would call that a recession.
People need to be cool and not start pulling out their small amounts of money scattered in commercial banks. If people start doing that then all the commercial banks will start failing along with the investment banks.
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Fact: 2007-2008 There have been 13 bank failures. Sound catastrophic??? Think again.
From 1999-2000 There were 15 bank failures.
20 years ago, in recession free 1988-89 there were 1,004.
In fact, since the end of the Great Depression the average number of bank failures has been 94.
Haha it's all some bullsh*t politicains throw around to scare people or to prove to them how bad things are... Just like when they say we are in a recession, when in reality we are not. Anyone who says we're in a recession, or heading into one- especially the "worst since the Great Depression"- is making up his own private definition of 'recession'. And probably for political purposes
your arrogance is your weakness.
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Omg and you claim to be a business owner and a man of wealth.
WOW that post was some of the dumbest most ignorant shit i have ever read. You sir have no clue about what is going on.
I never said I knew what is going on. That is how I think. And my wealth now is nothing like it was back in the 80's and 90's but I sure don't blame the government for that. It was my fault. I am currently starting another business that again sure isn't being affected by whatever is happening. And soon you will be able to read about it. One industry that does not fluctuate much during times like this is the fitness industry on my side. Last year was actually the first year in many (over 10) that any significant loss in membership has been shown and was just 3%. Whatever is happening we will pull through it. You just have to able to ride the storm. So settle down, you will be alright.
By the way, I have others to do things I don't know about.
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Omg and you claim to be a business owner and a man of wealth.
WOW that post was some of the dumbest most ignorant shit i have ever read. You sir have no clue about what is going on.
Why is my post dumb by the way. I don't keep up on this shit like you do so explain to me why it is dumb. I sure know we help other countries alot. I sure know they never pay us for it. Teach me ol' Yoda I want to learn
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what he doesnt metion is how big a role he had in creating the mess we're in. his policies completely distorted our economy away from productive means.
What you dont mention is how derek anthony destroyed your ass so you can no longer make your living from it :D