welcome to the recession

[Conductor42]

Um, if I read the correct sources, our inflation was higher than our economic growth in 2007, that means we've been in reccession for a while

[witnesstheday]

The Iraq war kept the prices falsely higher for far less time than the Afghanistan war and the Iran war could theoretically make little or no difference or, worse still, lead to an escalation of energy crises leading to the dow sliding rapidly toward the low 10,000 area and beyond, rather than making any final attempt to survive America's suicidal foreign policy

http://www.politicsdebate.co.uk/politics25.html


It's quite possible that the USA can still undo its financial collapse by regaining the brotherhood of billions of people in richer countries.

[slaveofone]

Still sitting on the sidelines watching Rome burn and laughing.

Hope you all prepared like I did (see date of original post). Don't say I didn't warn you and give you plenty of time to get ready.

[Philosophickle]

Still sitting on the sidelines watching Rome burn and laughing.

Hope you all prepared like I did (see date of original post). Don't say I didn't warn you and give you plenty of time to get ready.

Real economists have been warning of the inevitable bust for a while.

Here.

[The Curtmudgeon]

Welcome to 1929. You have one decade. Use it wisely.

The (or else, here we go again) Curtmudgeon

[Denonymous]

Still sitting on the sidelines watching Rome burn and laughing.

Hope you all prepared like I did (see date of original post). Don't say I didn't warn you and give you plenty of time to get ready.

"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."

Sounds like some posters here that claim to be Christians derive pleasure from the despair of others. Nice.

I've always been financially responsible. I was fortunate enough to save a fairly large sum of money over the last 10 years that should have been a cushion to most any economic malady that might have affected me. Then I developed a back problem, even though I had taken great care to stay healthy and physically fit all my life. 3 years and 4 surgeries later, my savings is gone, and now I've lost my job as a direct result of the current economic collapse. I may lose my home and everything I've worked so hard to provide for my family, even though I took just about every conceivable precaution to avoid that along the way.

Funny thing is, I used to think just like you (hence all the working, planning, saving, etc), although I hope I was less apt to be happy over others' misfortunes. I have a feeling the Almighty is teaching me humility, compassion.....or something, at least. I hope I end up a better person for it.

To the person here that said you also need some dumb luck on your side as well, you get the prize (though the mother of one of my Christian friends always used to make me say "good fortune" or "blessing" rather than luck)! Doing smart things with your money improves your odds of success, but there are a great number of people suffering right now due to forces beyond their control or influence. In my experience, being in the right place at the right time (or the wrong place at the wrong time) is a much bigger influence on success or failure than intelligence or diligence.

[Sheepdog]

Sounds like some posters here that claim to be Christians derive pleasure from the despair of others. Nice.

no, it is just that there is no sense to throwing pearls to swine.

In my experience, being in the right place at the right time (or the wrong place at the wrong time) is a much bigger influence on success or failure than intelligence or diligence.

my experience has been vice versa. this is why anecdote doesn't make for good evidence a lot of times.

[Denonymous]

Everyone's going to have sour seasons in their lives. The question is, what are you going to do about it, and in the long run can you improve your lot? Even with dumb luck, if you roll the dice enough times you'll get sevens eventually. The question is do you have the brains and persistence to make it?

This is coming from a former trailer park kid. For the most part neither my parents nor grandparents, God bless their souls, have done as well as I am doing now. I know I'll weather this recession.

Sheepdog,

This is exactly the way I felt until very recently. Neither my wife nor I came from any priviledged background. And yes, I will recover from this and persist and be successful again. I have no doubt of it. My point is that anyone, regardless of how much intelligence, planning, and diligence, can run into hard times, and there's certainly no glory gained by taking pleasure in the demise. There are many good people with families right now that are out of work through no fault of their own. God bless.

Denon