The second great depression...

[DelSlow]

tjamz;238071 wrote:
WHAT??? That's not what you said 2 years ago in this thread: http://fargostreet.com/forums/showpost.php?p=126724&postcount=22

Yes...we agree...we can thank the Bush administration for that....

OMG thats great...waiting for Torbs response.

[torbs]

I didn't know one couldn't change to the right way of thinking, Chuck

P.S. You have waaaaay too much time on your hands lol

[Guest]

I actually remembered you typing that line 2 years ago.....all I did was search for "Booming" by an author named "torbs"....found it in like 10 seconds.

[SPANISH-RICE]

lol that email thing was funny

[Guest]

darkelvis;238050 wrote:
The largest bank failure in united states history just happend...

http://news.yahoo.com/s/nm/20080926/ts_nm/us_washingtonmutual_jpmorgan_news

"Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion. "

"Washington Mutual has about $307 billion of assets and $188 billion of deposits, regulators said."

the economy will be fine my ass....

discuss.

According to a few of my friends (who are accountants and one is an economist)

This may have actually helped divert a depression. The rest is up to congress. They NEED to get a bailout package together or honestly, your ATM/Credit Cards will not work in a few days. They need to set up regulation (again) to ensure this doesn't happen again along with the bailout. From my sources, there is a 10% chance Washington will actually make money on this bailout and in a worst case scenario, would really only stand to lose about 3 to 6 billion in the long term.

Credit will become incredibly hard to get going forward with only qualified people getting decent rates on anything.

Credit cards will have realistic limits on them again and their interest rates will likely be 15%+ for most people.

Cars will cost 10% to finance.

Home mortgages will be in the 8 to 9% range as well.

Savings accounts will actually pay 4 to 5% interest or more, encouraging saving instead of spending.

I'm guessing we will see things go to about where they were in the early 80's when Reagan first took office.

Hopefully we can get the gov't to follow suit and stop deficit spending as that will be needed to strengthen the US dollar again.

If the congress cannot get this figured out and work out a deal, I hope you all like soup and don't mind standing in line to get it.....

[JN210]

Were talking about this in US history, I cant believe whats goin on....

[MisterCMK]

tjamz;238132 wrote:
If the congress cannot get this figured out and work out a deal, I hope you all like soup and don't mind standing in line to get it.....

As long as it is alphabet soup I am set.

[darkelvis]

Bump for the government shooting down a bill that was aimed at bailing out rich wall street execs and banks that caused the problems in the first place...followed by the largest single day stock market fall ever.

[slow90gsx]

Nothing like being owned by the chinese govt I hope My daughter dosent have to be fucked over by all this shit going on.I guess there is no one answer that will fix everyhting.

[Afsil80]

Well, I'm honestly glad that the bailout didn't go through. To hell with giving away Golden Parachutes to greedy CEO's.

[SPANISH-RICE]

extended canada trip anyone?