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US predicted to fall in 2010


Phait

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People I hope you get out of Denial and prepare.

http://www.telegraph.co.uk/finance/financetopics/recession/4208281/US-economy-suffers-worst-year-for-job-losses-since-1945.html

The world's biggest economy lost 524,000 jobs in December, bringing the total for the year to just under 2.58 million. That eclipses the losses incurred through every US recession since 1945. Wall Street economists had expected a drop of 525,000.

The report comes as President-Elect Barack Obama vowed yesterday to reform America's "weak and outdated" system of financial regulation after hitting out at "Wall Street wrongdoers" who made "imprudent and dangerous decisions" in creating the financial crisis.

America's economy has been assailed by the near-collapse of its banking system triggered by the sharp falls in US house prices. The news from the labour market continues to deteriorate, with Walgreen, its second largest pharmacy chain, cutting 1,000 staff. Oilfield services provider Schlumberger also said it was on the verge of trimming 1,000 jobs. ....................CONTINUED.

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I think we've all figured out that the US economy, actually the global economy, is in a deep, deep recession. No denial about that. Will it get worse? Yes. After it hits bottom, will it get better? Yes.

 

Don't discount the possibility that some technological breakthrough will occur that changes the game. The personal computer is what drove productivity to all-time highs. If $700B dollars is invested in alternative energy that manages to cut foreign oil dependence by 25%, that $700B will be paid back in under four years, and from that point on, yield a pretty darn good return on investment.

 

There's always the possibility that we'll go into a depression, society will unravel, and we'll have people shooting each other over scraps of food. But there's always the possibility we'll come up with some clever, totally unanticipated solution.

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No, don't look on the bright side, Craig. Stay away from the light! The world is going to rip apart, pureed and julienned by the very fabric of time and space. There will be roving gangs of emo kids, raw meat dripping from their sharpened teeth and eyeliner smudged to their cheekbones. Save yourself! The best thing to do in these situations is to panic, so I recommend we all abandon Harmony Central and our computers and take to the street, where we can run in circles while screaming.

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I tend to think Emo kids 'lounge' rather than rove, therefore, if you just walk around them, they are not too much of a threat. If you do find yourself cornered, just keep a Dashboard Confessional t-shirt handy and wave it, then frown deeply.

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Don't discount the possibility that some technological breakthrough will occur that changes the game. The personal computer is what drove productivity to all-time highs. If $700B dollars is invested in alternative energy that manages to cut foreign oil dependence by 25%, that $700B will be paid back in under four years, and from that point on, yield a pretty darn good return on investment.


There's always the possibility that we'll go into a depression, society will unravel, and we'll have people shooting each other over scraps of food. But there's always the possibility we'll come up with some clever, totally unanticipated solution.

And that is what I expect will happen. The new era we are entering into will require new technology and new paradigms as the old ones won't work anymore. Those that get that will do just fine. Those that cling to the old ways will not. It is really pretty simple.

But I thought this thread was declared dead?:confused: I went out of town for a couple of days and came back to this.

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No, don't look on the bright side, Craig. Stay away from the light! The world is going to rip apart, pureed and julienned by the very fabric of time and space. There will be roving gangs of emo kids, raw meat dripping from their sharpened teeth and eyeliner smudged to their cheekbones. Save yourself! The best thing to do in these situations is to panic, so I recommend we all abandon Harmony Central and our computers and take to the street, where we can run in circles while screaming.

 

Y2K ohnoessmiley.gif

 

This isn't quite the same thing - real people are hurting out there... but OTOH, I prefer to hope for, believe in and expect the best from people, and I really don't see the USA going out of business any time soon. We're too good at those clever solutions Craig mentioned.

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I think we've all figured out that the US economy, actually the global economy, is in a deep, deep recession. No denial about that. Will it get worse? Yes. After it hits bottom, will it get better? Yes.


Don't discount the possibility that some technological breakthrough will occur that changes the game. The personal computer is what drove productivity to all-time highs. If $700B dollars is invested in alternative energy that manages to cut foreign oil dependence by 25%, that $700B will be paid back in under four years, and from that point on, yield a pretty darn good return on investment.


There's always the possibility that we'll go into a depression, society will unravel, and we'll have people shooting each other over scraps of food. But there's always the possibility we'll come up with some clever, totally unanticipated solution.

 

 

Craig, I appreciate that you are incredibly optimistic but it's not based in the reality of what is actually being done to change things and turn things around. NOTHING is happening on that front man. Nothing. We're heading head long into oblivion and it's so sad because we can all see that it doesn't have to be that way. I also appreciate that people don't want to look at all of this {censored} because then you'll become disillusioned like I am and everyone wants to be happy. My own family is like this. I'm preparing and trying to figure out how to ride it how so at least one of us will have an idea of how the {censored} to move on after it all crashes. It's all I can do. I've never been the guy in denial much to my own chagrin. Those with ears will hear.

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Sean, I have no doubt things are going to get rough, and my mind is very much on how to hunker down and ride things out. As it is, I am one step away from living in the woods, rooting for grubworms and edible tubers.

Anyone up for an Economic and Musical Survival thread? Undoubtedly it would attract some crowing and sermonizing by those of you that are independently wealthy, but we will just beg you for money until you leave us alone.

There are probably enough economically-stressed here, to generate a good volume of responses. Unless shame and embarrassment (and potential loss of internet status) prevent them (us) from revealing their (our) circumstances.

Potential topics: how to get by with a minimum of music gear. Proper etiquette in dealing with repo men. What guitars make the best firewood. Tips on selling plasma and other bodily fluids. And maybe some humorous stuff, too, to lighten things up and keep from having it degenerate into a pity party. Anyone game? Or am I the only under-employed, poor mother{censored}er here? (harsh times call for harsh language).

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We're heading head long into oblivion and it's so sad because we can all see that it doesn't have to be that way. I also appreciate that people don't want to look at all of this {censored} because then you'll become disillusioned like I am and everyone wants to be happy. My own family is like this. I'm preparing and trying to figure out how to ride it how so at least one of us will have an idea of how the {censored} to move on after it all crashes. It's all I can do. I've never been the guy in denial much to my own chagrin. Those with ears will hear.

 

 

What do you feel specifically is going to happen? What are we as a country headed towards, in your opinion? How are you preparing for this?

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