Another Depression?
- Started
- Last post
- 29 Responses
- ********
Is Another Depression On The Horizon?
The boom/bust cycle in asset prices typifies the present downturn, as it did the Great Depression. This has led to suggestions that the world economy could operate far below capacity (i.e., with high unemployment) for an extended period--as it did in the 1930s.
- airey0
DepressionPlus™
- bulletfactory0
Depression 2.0
- Llyod0
then all of you bums will be out of work. hahahaha
- ukit0
The Great Clusterf*ck
- Llyod0
who will go to Dubai then to ride the coasters and russian hookers?
- The Chinese silly.TheBlueOne
- nah, they'll be forced to resort to cannibalismLlyod
- CyBrain0
I think recession is more likely.
- Llyod0
the collective consciousness says otherwise
- dog_opus0
I'm thinking a two-year recession. Hopefully it's not worse. Either way, it sucks.
- ukit0
I thought recession at first, but shit like this scares me.
http://www.forbes.com/markets/20…
Iceland is getting closer to becoming the first nation to go bankrupt as a result of the subprime mortgage crisis and resulting squeeze on lending. Late Wednesday afternoon in Europe, Fitch Ratings said it had cut Iceland's long-term sovereign currency issuer default ratings to "BBB-," from "A," putting them firmly in "junk" territory. Moody's also cut Iceland's sovereign rating to "A1," from "Aa1," and said its ratings were on review, according to TradeTheNews.com.
- Yeah, I saw that this morning. Woke me right up.dog_opus
- Llyod0
So will reindeer meat be super cheap now?
- ********0
Sarah ImPalin will become a billionaire selling freshly shot moose meat.
- ETM0
Glad I am in Canada. I am not saying we won't be affected, since so many financial organizations are intertwined, but right now, we are in a bit better position.
- ...for now.ETM
- 75% of Canada's trade is with USA...monNom
- Yeah, but I live in Alberta, not Ontario. Energy sector, not manufacturing. China will buy what you don't.ETM
- China will buy oil I mean...ETM
- notice that oil is down 40% from peak... and headed lower. That's going to bite into tax revenues.monNom
- Alberta has a 16 billion dollar 'rainy day' fund to help for bumps like that.ETM
- LOL Canadians never really have money so depression dont really do anything to them********
- Haha keep laughing Yank.ETM
- Don't shoot the messenger:
http://www.macleans.…ETM
- monNom0
it'll be different, but still really bad.
- ETM0
All I can say is get rid of any debt you can, and refinance any high rate debts while you can.
- ukit0
If there was a real Depression I would try to adapt. Maybe I would spend my unemployed days practicing and honing my design skills, while taking occasional breaks to hunt for small animals in my backyard.
