Depression: Part 2!

[foilman8805]

Re: Depression: Part 2!

Big time.

[tsugomaru]

Re: Depression: Part 2!

Did someone call for me?

Will of the D.

I know it never fails.

~Tsugomaru

[Relambrien]

Re: Depression: Part 2!

But really, I remember hearing a while back that economists had said that our government had "safeguards" in place in the event that a crisis ever did occur.

... anyone know about these and what exactly they would do to prevent a depression, or did I really just fabricate that in hope?

1) The FDIC. It insures bank accounts up to $100,000, so that when things like this occur, people know their money is safe and don't freak out and try to withdraw all of it, which was the cause of a huge number of bank failures in the '30s.

2) If a major stock falls by some percent (10% I think) in one day, the market closes immediately, to give investors time to clear their heads and avoid a panic that could exacerbate the situation.

Panicked people withdrawing all their money from the bank and panicked investors selling as soon as they saw the market drop were two of the main reasons for the Depression. These two things hope to prevent that.

(Note, all of this information was from my ninth grade Government/Economics class. As such, there's probably a whole host of things going on that aren't adequately explained by what I've written)

[Kekeb]

Re: Depression: Part 2!

Sup, Canadian here.
Looks like the rest of the world will be along for the ride.

[foilman8805]

Re: Depression: Part 2!

Yeah, all you people that said in the other thread that you would move to Canada are just as ****ed as the rest of us.

[Kekeb]

Re: Depression: Part 2!

I don't pay attention to the state of the economy, but is it really that bad? It seems to be a lot of unsightly panic.

[foilman8805]

Re: Depression: Part 2!

Kekeb, it's really bad. Really, really bad.

Most people have no idea either.

[Sh4d0wD3v1L]

Re: Depression: Part 2!

Yeah, all you people that said in the other thread that you would move to Canada are just as ****ed as the rest of us.

True. However, I could get legally drunk in Canada, so at the least while I'm up there I can forget about it. That is, if I can afford booze. Maybe I'll go to America to get it since the dollar is such a piece of **** right now.

[ddr_f4n]

Re: Depression: Part 2!

The reason why Canada is just as ****ed is because we depend on the U.S as our major trading partner. If you fail, we fail.

And it's just great how it will affect us who are either just entering university/college or leaving it to look for a job. We are the ones who will lose big time.

[foilman8805]

Re: Depression: Part 2!

You will witness the demise of the world economy in the imminent future.

EDIT: Well, you're actually witnessing the start of it right now to be honest.

BRACE FOR DOMINO EFFECT

Oh, hey, I'm a prophet.

http://www.foxnews.com/story/0,2933,430381,00.html

All major Asian stock markets in the region tumbled across the board, succumbing to heightened fears of a broader global financial crisis.

Japan's benchmark Nikkei 225 index nose-dived more than 544 points, or 4.6 percent, to 11,199.07, with popular stocks like Sony Corp. down 6.8 percent and Toyota Motor Corp. down 4.6 percent.

In Hong Kong, the Hang Seng index sank 3.6 percent. Markets in Australia, South Korea and the Philippines were also down sharply.

It's not fear anymore...it's the truth.

P.S. This is just the beginning, and I can't wait to prove lord_carbo wrong about the falsity of The Fed.

[Phynx]

Re: Depression: Part 2!

I say open a wider market with the world. And yes, make precious metals a currency again. This gives instant value to them if we have a world market that isn't so constrained.

[gnr61]

Re: Depression: Part 2!

ur all commies
if we bail out an economy that is plummeting because of human error we are no longer a capitalist nation sorry. it's a game of winners and losers and if you don't let the losers lose, the fundamentals of our economy become lost.

yes it's scary
deal w/ it

[tsugomaru]

Re: Depression: Part 2!

P.S. This is just the beginning, and I can't wait to prove lord_carbo wrong about the falsity of The Fed.

He did say something about only having one year of Government in the 9th grade.

~Tsugomaru

[foilman8805]

Re: Depression: Part 2!

I didn't say I wanted to bail the economy out.

Not a commie.

EDIT:

He did say something about only having one year of Government in the 9th grade.

~Tsugomaru

That was Relambrien earlier in the thread...I'm talking about what carbo said to me in another thread the other day.

Also triple lol @ foilman for thinking the Fed "is a sham." Bernanke is a goddamn smart economist and as of now he holds more information out of single every person in the world about the crisis. Collective wisdom is another story, but if you compare him with every other economist one on one, he knows more because he's the Fed chairman.

Owned.

He will soon find out that The Fed is just a huge scam of a privately owned business that rips off everyone who pays taxes, as well as the government. And it's largely the greed of people that control The Fed, and other huge money holding institutions that have caused this all to happen.

[Phynx]

Re: Depression: Part 2!

Haha, and I find it funny to think that the next election comes in 2012... XD if not world destruction from a apocalyptic event then social order as we know it is surely to fall apart near that time. Maybe 2012 is the end of world order. Maybe chaos and anarchy reigns during that time. I for one see something happening then really, even if it's not what I'm saying here, I see SOMETHING bad happening at the next election.