welcome to the recession

[slaveofone]

How's it feel to be on the verge of the Greatest Depression in U.S. history?

I love watching Wall Street and the U.S. government jump all over the place doing all these historically unheard of, crazy things as the economy implodes. I love even more how blind and clueless everybody is...how no one wants to admit the reality of our situation. When President Bush got on the news and said we are not in a recession, I laughed so hard I almost peed my pants. What I love even more is that not only did I call this recession almost a year ago, but I predicted the collapse of the housing bubble years ago. It took all of 2007 for anyone to wake up. And they still don't want to see the truth. But I haven't sat on my thumbs the whole time. I planned for all this. As Rome burns to the ground, I'll be sitting here, lighting a cigarette, watching the flames dance and the people scurry. When this is all over, I'm going to emerge debt-free and secure for the rest of my natural life with any house and car I could desire. And I don't even have any education in economics. Life is good when you don't follow the dumb masses.

[Little Shepherd]

How's it feel to be on the verge of the Greatest Depression in U.S. history?

Pretty good. Thanks for asking.

[Jimmy Higgins]

How's it feel to be on the verge of the Greatest Depression in U.S. history?

I love watching Wall Street and the U.S. government jump all over the place doing all these historically unheard of, crazy things as the economy implodes. I love even more how blind and clueless everybody is...how no one wants to admit the reality of our situation.

The reality is that we in uncharted territories. You can claim you know what is going on, but you are clueless. Not many really know where this economy is taking us. International powers and global economics is being tested right now.

When President Bush got on the news and said we are not in a recession, I laughed so hard I almost peed my pants.

That's a common default whenever he speaks. That and teeth grinding.

What I love even more is that not only did I call this recession almost a year ago, but I predicted the collapse of the housing bubble years ago.

Dude... I remember watching the Suze Orman show on CNBC back in 2001 or 2002 and she was saying there appeared to be bubble and real estate was getting into dangerous territory. So, really, you didn't do anything too impressive with that prediction.

It took all of 2007 for anyone to wake up.

No it didn't.

And they still don't want to see the truth. But I haven't sat on my thumbs the whole time. I planned for all this.

Care to share how you adjusted your investments back before all this happened and show us how well your investments are doing?

As Rome burns to the ground, I'll be sitting here, lighting a cigarette, watching the flames dance and the people scurry. When this is all over, I'm going to emerge debt-free and secure for the rest of my natural life with any house and car I could desire.

Please share the details.

And I don't even have any education in economics.

Well, that much is clear. Clearly your arrogance makes up for your lack of economics education.

Life is good when you don't follow the dumb masses.

Umm... so you say.

[Zeluvia]

Well, happy to know you can afford the cigs = )

[Paintbucket]

Heh. This is what happens when people rosy up everything. Life is good! And now my car is being repoed... Whoops, I didn't think my credit rating was that bad...

On a more serious note, this is bad. It's quite a shame. It's suprising that we as a people so rich can succumb to a recession. Maybe we overlooked some details that might have helped us. Actually we did. Bank runs, subprime mortgages, stock market lowering, inflation, wow what a lovely picture we have here.

[Jimmy Higgins]

Gosh, huge tax cut and two recessions. (granted, it isn't official yet, but it sure is going to be close)

I'm not blaming Bush per say... just noting that Tax Cuts = economic salvation seems to be finally vanquished.

I'm joking of course, people for tax cuts will never stop being for tax cuts because they help lower teen pregnancy rates as well as increase tax revenue.

[historic salve]

I'm joking of course, people for tax cuts will never stop being for tax cuts because they help lower teen pregnancy rates.

What?

[Jimmy Higgins]

What?

People who are evangelical about their steadfast support of tax cuts are silly. No, they don't claim it will cut teen pregnancy rates, but their other claims are almost as silly.

[Conductor42]

Oh, bah. It might be bad, but it won't be the greatest recession yet.
The powers that be who (try to) manage our economy may be somewhat incompetent, but not so stupid that they'll send us into a great depression 2.0.

[Little Shepherd]

Even if we are going into a bad recession, I still feel great about it. Of course, I've begun being smarter about my money -- taking small steps pretty much everyone can do so that when these things happen, as they are going to do from time to time no matter who the President is or what the government does, they aren't caught flat-footed. People in the far past may have had excuses, but nowadays there are none. Recessions are primarily a problem for the wasteful and short-sighted, not so much for those with even a modicum of financial sense.

[Jimmy Higgins]

Even if we are going into a bad recession, I still feel great about it. Of course, I've begun being smarter about my money -- taking small steps pretty much everyone can do so that when these things happen, as they are going to do from time to time no matter who the President is or what the government does, they aren't caught flat-footed. People in the far past may have had excuses, but nowadays there are none. Recessions are primarily a problem for the wasteful and short-sighted, not so much for those with even a modicum of financial sense.

What?

People of the far past had excuses... what like unemployment? That's a good excuse. Oh and inflation... making small changes ain't helping there. And by dropping the Fed Rate, that's making saving money in any interest bearing account almost fruitless as it won't beat inflation.

Yes, be fiscally responsible. However, you are being terribly short sighted. Recessions mean job losses... which make being fiscally responsible much harder. With inflation being a possible problem, that makes you r money (even if saved up, worth less) and if you are near retirement, can spell significant liquidation of your assets.

Your optimism is noted however.

[Conductor42]

Recessions are primarily a problem for the wasteful and short-sighted, not so much for those with even a modicum of financial sense.

Oh yeah, I forgot, being poor means you are lazy.
You'll never be poor if you're a hard worker.

[Amazing Rando]

Oh yeah, I forgot, being poor means you are lazy.
You'll never be poor if you're a hard worker.

Don't you just love the optimism of 19th century laissez-faire capitalism?

[Jimmy Higgins]

Don't you just love the optimism of 19th century laissez-faire capitalism?

[hippie]Dude... don't worry about it, it'll trickle down man.[/hippie]

Some people are just incapable of seeing what things are really are, the proverbial not knowing what you've got or how you got it.

Yes, I am fiscally responsible. Yes, I have put in a lot of hard. But that doesn't mean jack in the end without some dumb luck. People can help create their luck through observation, but in the end... all the effort and responsibility means nothing if you don't catch a break here or there.

[slaveofone]

The reality is that we in uncharted territories. You can claim you know what is going on, but you are clueless. Not many really know where this economy is taking us. International powers and global economics is being tested right now.

That's a common default whenever he speaks. That and teeth grinding.
Dude... I remember watching the Suze Orman show on CNBC back in 2001 or 2002 and she was saying there appeared to be bubble and real estate was getting into dangerous territory. So, really, you didn't do anything too impressive with that prediction.
No it didn't.
Care to share how you adjusted your investments back before all this happened and show us how well your investments are doing?
Please share the details.
Well, that much is clear. Clearly your arrogance makes up for your lack of economics education.
Umm... so you say.

Ha! My arrogance is making me rich while the world goes broke? You're as funny as Bush. I've already made several thousand betting against the USD. And I'm making so much every month now, by the end of this year, I won't need to pay rent anymore--all this because of my financial decisions based on my predictions. If you can't say the same, I suggest you wake up to the reality you're missing.