Bank Crisis-- We are F'ed!!!

[Cromespyder]

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.

[240 is Back]

My MBA was from an AACSB accredited school.  
http://en.wikipedia.org/wiki/AACSB

I have no clue what that means.

[calmus]

It means you'll be fine as long as you don't attempt to get into "educational credentials" posedowns with random people.

[240 is Back]

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.

[calmus]

working 80 hrs/wk on an interesting project isn't half bad.

[titusisback]

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

[Cromespyder]

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.

[Bindare_Dundat]

I agree, the ekonome is doing grate We arnt going to be a resession.  All you guy's are stoopid.

[UPINTHEMGUTS]

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.

[ToxicAvenger]

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...

[MuscleMcMannus]

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. 

[dkf360]

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. 

[onlyme]

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.

[SUPREME BEING]

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.

[MuscleMcMannus]

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. 

[dkf360]

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. 

[UPINTHEMGUTS]

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.

[MuscleMcMannus]

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. 

[freespirit]

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. 

[dkf360]

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. 

[Camel Jockey]

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.

[big L dawg]

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.

[onlyme]

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. 

[onlyme]

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

[JohnnyVegas]

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