When will this s^&t end

[Highflyinpilot]

Im tired of hearing about all these job loses etc. Im wondering when the F%@k will it end.
Thats all thats been on the news everyday for the past god knows how long. It is so f%$ck*&^ depressing.


Just felt like venting

[Guido]

I know the feeling, man... I've never been more glad to be in school. But hang in there, buddy - our forebears survived the last depression - we can make it through this one.

[square]

brick by brick my man

[BibleMonkey]

Im tired of hearing about all these job loses etc. Im wondering when the F%@k will it end.
Thats all thats been on the news everyday for the past god knows how long. It is so f%$ck*&^ depressing.


Just felt like venting

Yeah, I hear ya.
But,
"We are never so happy or unhappy as we think." ~La Rochefoucauld

Keep in mind, that if you can read this ( live in North America , eat three meals a day, have a roof )-you belong to the group of the richest 1% of humans on the planet.

Im wondering when the F%@k will it end.

Excellent question.

One that eggheads that study economics all their life can't agree on an answer to. Their guesses range from two years : if the coming option arm mortgage resets are defended against by the government-if you save the bad mortgage, you save the leveraged credit default swaps that ride on them from crashing more banks ( the derivitaves that Warren Buffet called 'weapons of financial mass destruction' ) - if a risk-management strategy that accounts properly for the fact that all assets can experience 100% losses is instituted [and backdated], if the U.S dollar can be maintained as World reserve currency....if a few other things..two years



...to twenty years-because the '29 stock market didn't recover until the fifties..because the Japan Depression was caused by a loss of about $1 Trillion ( lol- one trillion is 'only ' one trillion, now) , and lasted ten years -while other countries were not ill, and were able to buy their exports , during their lost decade-we're down more than ( at least) 4 trillion so far, ..


..to 'never'-we will never recover the lifestyle we had, because 70 % of the economy was driven by consumer spending-using substantial amounts of 'fake ' ( unaffordable debt ) money-there has been a phase shift -Washington is seized by panic , now, and the attempted re-start of revolving debt consumerism is an exercise in futility, the passive public in the face of their dreadful accelerating losses -hasn't yet recognized the shift .
So-two years to twenty

A partial skelton of what started/caused 40 % of the worlds wealth to be wiped out in a few months:
Inside the Meltdown

On the other hand, turn off the news, plant a garden, learn to make stuff , read a book, stock up on whiskey to barter with -if this blows over quick-meh-you'll have fresh corn, and some whiskey.

If it don't : you'll have fresh corn and some whiskey!

[. ._]

I'm not too depressed. I was due to take a break from work anyways. And if I get REALLY bored, I can go back to the shop and putz around on some stupid doodad. I still have the key to the place and my tool box is there.

I have a good relationship with my former employer. After he laid me off, he said, "I gotta go to Sandvik now. Can you lock up?" Most of the time when I get laid off, I get escorted from the building by management.

I have a bit of a plan for my pogey time. After finishing a really BS paper for my psychology class, I'm going to start writing a book. Not a novel, but I have preliminary plans for a "how to" book all ready to go. It will be written in the classic factual, serious ISTP fashion.

Highflyinpilot, just remember. Psychologically, when it's overcast, it induces a bad mood. When you're hung over, booze is a depressant, so it's natural that a person would be bummed out. When possible, blame your bad mood on that stuff. And don't forget about internet porn. That'll take your mind off of things for a few minutes.

-istp

[Highflyinpilot]

Well for me it is not too bad as my wife has a decent paying job(thank god), But for people who only had one icome i cant imagine how they feel. Im not sure how i would feel if we were only dependant on my income alone.

Once i can get my first ei check wont be so bad, in the meantime im just gonna try and kepp busy for now.


It is the internet porn that is getting me through my days

[niss]

I know the feeling, man... I've never been more glad to be in school. But hang in there, buddy - our forebears survived the last depression - we can make it through this one.

life must have been tough for fourbears.

[Driving Rain]

http://www.ctv.ca/servlet/ArticleNews/s ... TopStories

Author predicts second Great Depression on the way
Updated Thu. Feb. 19 2009 9:55 AM ET

CTV.ca News Staff

The global economy is going to get worse before it gets better, according to the author of a new book that predicts we're on the cusp of a second Great Depression.

Economist Harry S. Dent, author of "The great Depression Ahead," told CTV's Canada AM that the large number of baby-boomers who are approaching retirement, and the over-stretched U.S. banking system, means the worst is yet to come.

And U.S. President Barack Obama's costly stimulus package likely won't solve the problem -- either for the U.S. or for the rest of the world, he said.

"The government doesn't understand that over 100 million baby-boomers in North America are switching from being spenders to savers," Dent said from Vancouver.

"People earn and spend more money until about age 46 when their kids start to leave the nest, then they spend less and less and save more for retirement. On top of that we've had the greatest housing bubble ever, more so in the United States that in Canada, in history."

Obama's stimulus package might cause the economy to spike, but probably won't lead to a permanent fix and could actually make things worse in the long run, Dent said.

"The stimulus is so massive that if we only have a minor rebound it's probably likely the markets are going to say 'oh my gosh, the economy really is mortally wounded,'" he said.

That "rebound" could last until the end of 2009, but by early next year the economy will be in a deeper downturn than it is now, Dent predicted.

"In mid-2009 it will recover, but it's the calm before the storm," he said, predicting that the hallmarks of depression -- double-digit unemployment and a falling consumer price index, will be seen in 2010.

Stock markets will bottom-out in mid-2012, he predicts, before picking up again in mid-2013.

Dent said he is telling his clients to take advantage of the temporary recovery that will come in anticipation of the stimulus bill, by selling their stocks and converting their investment to cash, then waiting out the slump.

"This was a synchronized global boom -- one of the greatest in history in the 2000s -- and now it's a synchronized global bust," he said.

Until now, Canada's economy has been largely protected from the economic fallout by stronger banking regulations than those in the U.S.

However, Dent said it could be 10 years before Canada is out of the woods and the economy is back on solid footing.

"The bigger problem you're facing is a 29- to 30-year commodity cycle is also peaking here...and that means commodity prices are probably going to be down for a decade before they turn up again so that is probably the bigger challenge in Canada," Dent said.

[BibleMonkey]

" The young bride approached her awaiting husband on their wedding night and demanded $10 for their first love-making encounter. In his highly aroused state, he readily agreed. This scenario was repeated each time they made love for the next 30 years, him thinking it was a cute way for her to buy new clothes, etc.

Arriving home around noon one day, she found her husband in a very drunken state. Over the next few minutes she heard of the ravages of financial ruin caused by corporate down sizing and it's effects on a 50 year old executive.

Calmly, she handed him a bank book showing deposits and interest for 30 years totaling nearly million dollars. Pointing across the parking lot she gestured toward the local bank while handing him stock certificates worth nearly million dollars and informing him that he was the largest stockholder in the bank. She told him that for 30 years she had charged him each time they had sex, and this was the result of her investments.

By now he was distraught and beating his head against the side of the car. She asked him why the disappointment at such good news and he replied, "If I had known what you were doing, I would have given you all of my business!" "

[Sabrea]

I guess if we cull off the old misers and put their money into the economy we would all be better off!

[Dust Devil]

Still no sign of anything wrong here. We have record low unemployment and a number of large projects are announced to be a go. If anyone needs a job Saskatchewan is the place to be.

[BibleMonkey]

Still no sign of anything wrong here. We have record low unemployment and a number of large projects are announced to be a go. If anyone needs a job Saskatchewan is the place to be.

The American economy is the locomotive that derailed; Saskatchewan and Alberta are the caboose-it's a comin'-maybe not so bad, but we are all a part of this train wreck.

But-yeah-Saskatchewan is a good spot to be.




===

http://www.ctv.ca/servlet/ArticleNews/s ... TopStories

Author predicts second Great Depression on the way
Updated Thu. Feb. 19 2009 9:55 AM ET

CTV.ca News Staff

The global economy is going to get worse before it gets better, according to the author of a new book that predicts we're on the cusp of a second Great Depression.

Economist Harry S. Dent, author of "The great Depression Ahead," told CTV's Canada AM that the large number of baby-boomers who are approaching retirement, and the over-stretched U.S. banking system, means the worst is yet to come.

And U.S. President Barack Obama's costly stimulus package likely won't solve the problem -- either for the U.S. or for the rest of the world, he said.
...///......
....

..However, Dent said it could be 10 years before Canada is out of the woods and the economy is back on solid footing.

"The bigger problem you're facing is a 29- to 30-year commodity cycle is also peaking here...and that means commodity prices are probably going to be down for a decade before they turn up again so that is probably the bigger challenge in Canada," Dent said.

Ha! My guy can out doom-and-gloom your guy!

NEW YORK (Reuters) - Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.

Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union.

He said the bankruptcy of Lehman Brothers in September marked a turning point in the functioning of the market system.

"We witnessed the collapse of the financial system," Soros said at a Columbia University dinner. "It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."

His comments echoed those made earlier at the same conference by Paul Volcker, a former Federal Reserve chairman who is now a top adviser to President Barack Obama.

Volcker said industrial production around the world was declining even more rapidly than in the United States, which is itself under severe strain.

"I don't remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world," Volcker said.

Banks Reel On Eastern Europe's Bad News

Nearly 5 million Americans drawing jobless benefits

The collapse of manufacturing

And now for the good news :eventually, we will all be dead, and none of this will matter.

[beaverbob]

I heard on the news that the US government thinks it might be necessary to nationalize the banking industry! What's next? The Auto Sector?

Can anybody on here name a free and successful nation where the banks are government run?

Is this just the Obama socialists showing their true colours now?
BB