DEMCAD asked:
BLOOMBERG: U.S. Has 50% Chance of Depression, Economist Roger Farmer Says
http://www.bloomberg.com/apps/news?pid=20601087&sid=a4aj_38zaLgU
BLOOMBERG: U.S. Commodities: Crude Oil Tumbles as Fuel Inventories Climb
http://bloomberg.com/apps/news?pid=20601087&sid=amgCVjonVfQQ&refer=home
AP: Last-minute shoppers won’t save Christmas
http://www.msnbc.msn.com/id/28379841/
AP: Retailers offer shopping for insomniacs
http://www.msnbc.msn.com/id/28365131/
Related Posts
Tags: Bloomberg, Economist, Expert, Home Ap, Insomniacs, Inventories, Minute Shoppers, Msnbc, Pid, Sid
and IT WAS ALL PURPOSELY CREATED…..
the main and basic reason that we’re crashing is because our economy is based on people going into debt and globalization. the combination of the two is inconsistent. it’s in companies interest to manufacture overseas due to lower cost; and with americans losing jobs, they can no longer afford to continue unrestrained spending.
you dont need to be an insider to know whats gonna happen
50% is a bit conservative. 100% is closer to the mark. It really doesn’t take a whole lot of analysis and insight, only eyesight, to see what’s going on. People like you who try to inform others do a great public service.
Doesnt make sense, peolpe would steal about 300-400$ of meat a night. wouldnt you think to have a rent a cop outside for 80 bucks a night or atleast on weekends. where the thinkers in this world.
Yeah, if you touch the shoplifters AFTER they leave, you will get fired.
Iratetruth. I think you fail to realize they have already printed over 8 trillion dollars and put it into the markets just to maintain the system. You will see next year that it this economy wont turn around. If I were you I would be stocking up on food. Its that simple.
This is a depression. Just like they delayed telling people we have been in a recession they are delaying telling people this is a depression. Although this country has been in a recession for the last 3 yrs (in spite of them saying it’s only been 1 yr) and it is in the early start of a depression since this summer, probably sooner.
interesting, i’ve seen this EXACT comment from “iratetruth” posted on several other very good videos tonight..! time for a ban, and beware who’s lurking, those that say things which will lead you astray…
from july 2007 the banks were falling down….
bear stearns was for me the first real sign of a depression coming…. later fannie and freddie i was 100 % sure it will come….
and after lehman we live in a virtual world…. the moment wil come….. and hard
Maybe you should learn how to spell the word “recession” before you start calling people idiots?
Great video as per usual. Thanks and Merry Christmas to you and your family!
Im in total agreement about the oil prices…but its WHY…really i dont think we should be suprised we should have been able to predict it given the collapse is global…
I saw lots of shoppers today when i stopped at the drugstore… i asked a couple if they were doing their last minute shopping..and they both said no..it was all the xmas shopping they were doing…oh and prices were 75% off there…all typical xmas gift stuff….the stuff you buy people when you dont know what to get them
Can’t see any quick fix for the economy. Home prices will drop another 20-50% as the ALT-A and Option ARM mortgages reset from 2009-2011. Default rate on these mortgages is forecasted at 50-70%. This is as large a problem as the sub-prime damage we have already experienced. Until the economy stops bleeding jobs there can not be bottom.
I live in anchorage AK and my wife ran into Walmart last night at around 11:30PM after work to get something (not for christmas) and she had to wait in line for 30 mins it was so packed. They were open for 24hrs to get last minute shoppers. She said that the door alarms kepts going off like crazy. Also when i worked for Safeway few years ago, i worked the graveshift. We were open 24/7 everday and people would run out with shopping carts full of meat,once they leave the door you cant stop them.
extending store hours only will invite more stealing & folks to rob them.
If wishes were horses, beggars would ride.
Look at these two doom and gloom clowns these guyz arent insiders how do they know whats going to happen in the futrue. they both are negative and need to relaxe. when this economy turns around in the middle to end of next year 2009 then what are they going to say. Those who created the economy can bring it back its that simple, just print the money. and amreica isnt the only country having hard times right now the hole world is affected and in a ressecision not just america, idiots. shut up!
The 50% projection assures that it will be a 100% likely hood of a deep depression.
The main reason is that our owners, I repeat, Our OWNERS! are positioning themselves to weather this storm being busy doing what you and I cant afford to do in order to survive.
Moving their money to Asian currencies, buying gold, feathering their Caribbean nest and leaking stories about how it was you and I that did it.
After the smoke clears, they will be back to take charge again.
Seriously it was scarry going to the mall and seeing like almost a ghost town. What was busy where the food mart, wlamart and Costco.
It’s nice to be vindicated but I’d rather be wrong.