Eye on the US Economy.

Censport

Well-Known Member
Joined
Jul 23, 2008
Messages
595
Location
Nashville TN, USA
Car(s)
Xterra, '63 Corvair, '06 Yamaha FZ6

smib

is a big honkin' homo
Joined
Aug 31, 2007
Messages
6,465
Location
Connecticut, USA
Car(s)
2010 Mazda3
what exactly does this have to do with obama?

He's black, so it's obvious he stole the money from the banks. Poor little old bankers and executives were walking home from shops and Obama and his darky hooligan friends mugged them. Duh.
 

Censport

Well-Known Member
Joined
Jul 23, 2008
Messages
595
Location
Nashville TN, USA
Car(s)
Xterra, '63 Corvair, '06 Yamaha FZ6
^ $15,000/month of lobbying? That's not much of a connection.

James Johnson and Franklin Raines were chief executives at Fannie Mae. That won't keep Obama from throwing them under the bus the moment they're inconvenient. But the mindset that ruined Fannie/Freddie is pervasive throughout the DNC and is inescapable.
 

LeVeL

Forum Addict
Joined
Jun 16, 2007
Messages
13,265
I thought I was the only one who listened to Beck. Isn't it funny how he has warned us about this since way before the housing bubble collapsed and people were saying, 'the economy is great.'

Gotta love Glenn

What happens next:
a) Massive price increase for Oil, Gold, brinding USD lower and lower and expanding American deficit even more.
b) When USD is low enough, the 3 largest investors in US economy, which are in that order, China, Japan, Russian Federation, are going to ask for their money back.
c) US will not be able to pay them (and those investments are guaranteed by the Federal Governement) all they can do is announce a default.

1929 on a global (as opposed to national) scale
 

RUU-CHAMA

Well-Known Member
Joined
Feb 27, 2007
Messages
551
Location
USA
Car(s)
Mazda6
What happens next:
a) Massive price increase for Oil, Gold, brinding USD lower and lower and expanding American deficit even more.
b) When USD is low enough, the 3 largest investors in US economy, which are in that order, China, Japan, Russian Federation, are going to ask for their money back.
c) US will not be able to pay them (and those investments are guaranteed by the Federal Governement) all they can do is announce a default.

Let me continue:

d) Governments will consider uniting under one financial banking system and one world currency.
e) .........Well, you know.
 

Scooby5

Active Member
Joined
Mar 24, 2005
Messages
439
Location
A Scot in Singapore
Car(s)
2015 Infiniti Q50 2.0L Turbo
Let me continue:

d) Governments will consider uniting under one financial banking system and one world currency.

They can't even manage that in Europe.

There is always at least one country working outside limits set by the ECB. The Euro survives because the problem is somewhat ignored.

The best thing to do is go the Star trek route and do away with currency altogether with everybody working for the good of mankind...... no wait, that sounds too much like communism.
 

ViperVX

Well-Known Member
Joined
Dec 27, 2005
Messages
1,404
Let me continue:

d) Governments will consider uniting under one financial banking system and one world currency.
e) .........Well, you know.

Will never happen. With American on the fall there is no need to give up the independence of the strongets western economy left standing. What might happen, and the idea has been announced by Nicolas Sarkozy, Europe is planning to create a free trading zone with Russia and some other countries, so the possible "rise" of he euro corrency won't hurt european export deals.
 

optimusprime

Active Member
Joined
Jul 11, 2006
Messages
336
Location
IL US
As I recall, in 1989 more than 500 banks "failed" and yet nobody bailed them out. Thanks, George H.W. Bush.
 

ViperVX

Well-Known Member
Joined
Dec 27, 2005
Messages
1,404
It's getting more and more interesting every hour. 8 hours ago they announced, that the decision has been made, the concensus found etc. 8 years later CNN reports "Chaos in Bailout decision" and it looks like all the talks broke up or shifted, or some ppl actualy STARTED THINKING, that 700 Billion, that you don't have, is a "questionable" solution.
 

Eunos_Cosmo

Forum Addict
Joined
Oct 7, 2007
Messages
6,968
Location
Oakland
Car(s)
'84 Mazda RX7, '12 Mazda 2, '99 Porsche Boxster
New Zealand is looking pretty good these days.
 

optimusprime

Active Member
Joined
Jul 11, 2006
Messages
336
Location
IL US
I have loads and loads of debt, no assets, and a large amount of valuable skills. This can only end well for me.
 

Blind_Io

"Be The Match" Registered
DONOR
Joined
Apr 5, 2006
Messages
23,006
Location
Utah, Banana Republic
Car(s)
06 XTerra, '00 VFR800, '11 Multistrada, Yamaha R6

Firecat

Politically Charged
Joined
Mar 23, 2005
Messages
5,730
My personal account is with WaMu, but business is with Wachovia. I had some stock in WaMu is well, not that big of a deal...I can make the difference up somewhere else.

But yeah, I expected this to happen the past few weeks.
 

Momentum57

worships the 2010 Prius like a god
Joined
Aug 26, 2005
Messages
3,531
Location
Denver, CO
Car(s)
It's A HONDA! Clarity Plug In Electric
Yeah, I just heard. This is my bank too. I have opened up a checking account with USAA and will be transferring my funds as soon as I can.

You have over $100,000 in a checking account I mean I don't want to point fingers but a run on the back happens when people don't understand that today their money is FDIC insured. In the event of a bank failing full stop your account is insured up to that 100,000 (if you had more than that in a checking then your an idiot anyways) So it begs the Question why move you money from JPMorgan Chase who will be taking over WAMU. They might not even change the name to Chase.

JPMorgan Chase Manhattan Washington Mutual Bank and Company would have a really cool ring to it thought.
 

Blind_Io

"Be The Match" Registered
DONOR
Joined
Apr 5, 2006
Messages
23,006
Location
Utah, Banana Republic
Car(s)
06 XTerra, '00 VFR800, '11 Multistrada, Yamaha R6
I understand how the FDIC works, but I don't have enough other assets to afford everything I have to be tied up in some damn Government bureaucracy. I just wanted to be ready to move my money in case things went sideways - more than they already have.

If the buyout from Chase didn't go through or Chase overextended to buy WaMu I want to have another account set up to move my money into.

That's enough of that, I found this video interesting.

[youtube]R1X6RQLZtoA[/youtube]
 
Top