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what can you say about the U.S going on a recession?
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M / PLANTS
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Posted 4/8/08
what do you think???will this be the reason for the downfall of the worlds largest economy?
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M / Yo Mommas House
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Posted 4/9/08
Too me greatly the federal reserve (private bank which recieves no oversight or audits but the name "federal" makes people believe this is apart of the government) doesnt make sense we have to pay interest on printed paper under which congress in the constitution is the only power able to create money as well as other factors of the federal reserve., the borrowing money from other nations, this world empire we are trying to finance.
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24 / M / Box
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Posted 4/9/08
In my opinions, Americans brought it on themselves.
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26 / F / \( ø∑ø;)/ New YAW...
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Posted 4/9/08
I think it was totally the greed of the banking industry. They completely fail for trying to loan out a load of money to people knowing they'd have no way to pay it back.

:D go america!
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25 / M
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Posted 4/9/08
Hehe our country's economy was more stable back when Saddam Hussein was still around. Thats right, I said it. The fact being although as much as U.S. hated dictatorship, Iraq was the only country of the OPEC Cartel who wanted to continue selling oil to the United States even when countries like Kuwait, Libya and Saudi Arabia wanted to cut ties with the states for demanding too much out of them. They sold it for a reasonable price at that, and we made quite a good amount of profit out of it. Iraq also served as a buffer for the U.S. when Iran gave a huge amount of support to the Hezbollah. But when we invaded Iraq under the pretenses of Saddam being a terrorist threat as well as possesing WMD's, it went all downhill from that. Bush promised Iraq that the war debt would be resolved in terms of oil and look what happened, oil fields got bombed and now they're just there burning. Now the price for oil suddenly skyrocketed, and its productivity never really incresed after that. Among other things beside oil fields much destruction was done, and the debt that was promised to be payed never got delivered. And now that Saddam's gone, so is the hold Iraq had on Iran. And guess whose attacking the troops sent to fight? The Shiite extremists that suddenly appeared in Iraq crossing from Iran after Saddam got executed! Note that Saddam was a Sunni. So what was resolved out of invading Iraq? Pretty much nothing! Fights between groups are renewed and insurgent activity is about as high as ever, and most of the extremist activies are conducted by said extremists who snuck into Iraq. If anything, I could say that Iraq was better off having Saddam. So yeah, no change. Other than, of course, the reconstruction of Iraq's political standards SLOWLY making progress. And I do emphasize slow.

Not saying he wasn't a bad guy or anything, though. Just my 2 cents that the U.S. did a hell of a lot better back then when he was still here.
Posted 4/9/08
It is a result of the war, but I think if we start now, we can make it possibly not happen
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26 / F / \( ø∑ø;)/ New YAW...
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Posted 4/9/08
._. bush in general=economic fail
the only reason nobody wants to assassinate/impeach him is because cheney is worse.

catch 22!
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M / Yo Mommas House
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Posted 4/9/08
Lol I dont see how people making these long summaries when it is crystal clear that when you devalue the dollar prices go up and the dollar is in an all time low with the euro now. It is so bad the silent news media finally started talking about it and finally the Federal reserve is under questioning. Listen folks when you bail out wall street like the fed always do buying up that debt THAT PUTS MORE MONEY INTO CIRCULATION. Since we are not on the gold standard no more the more money we have in circulation the lower the dollar amount is and the higher prices go up. And the fed keeping interest rates low all the time isnt helping at all because now the government borrows millions at low interest and has to pay them back. From the minute the fed was created our dollar has been in debt. These people have not kept the economy stable the minute they was created in 1913. Did you know when our money was backed by gold prices general stayed the same from the 1800s to the 1900s. Lol now look at this huge leap of prices and this shit goes up every year. Do some research on the fed and ask yourself is a private bank who controls our money that recieves no audit deserve this much power? Why do we keep going far away from the constitution?
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28 / M / my nest
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Posted 4/9/08
Its been long coming. I live in michigan so i known about this recession for a long time, mostly hoping that we would catch up with the rest of america and ya know get all prosperous and stuff. Sorta went the other way around with that one...

Anyways the US as a country isnt in a recession, in fact its doing quite fine.
Whats happening is that more and more citizens are gathering more and more debt. This debt is perpetuated by a few things.
1. the federal bank which taxes every dollar made then the government charges the people "income tax" (thats tax just for making money) to pay off the taxes gathered just for having money added to circulation.
2. raising interest rates which cause the debt payments to grow meaning that its now harder to meet minimal payment (which americans shouldnt be doing anyways) meaning that their debt as a whole is growing
3. the low interest payments of the 90's which caused so many americans to use their equity and get them into debt in the first place.

Just a few numbers for those who might doubt me on this.
The USA national debt is approx 8 trillion dollars.
The American citizens as a whole debt is approx 12 trillion dollars.
Which is about 40 thousand dollars per person in the USA.

Now you have to ask yourself why president bush is giving a "econ stimulus package" to the US (300-600 dollars per person) to start buying to stimulate the economy.
Buying is what got us into this mess. Even if everyone in the US got 600$ from this package it would only pay off 1.8 billion of the 12 trillion dollar debt of the people.

The quickest way this could be solved is by reworking the "federal" bank (its not really federal at all, its a private company) which would reduce income tax giving the average american approx 25% more money.
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27 / M / Los Angeles, Cali...
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Posted 4/9/08
its not an issue at all. recession is just a part of normal economic growth. there will be job losses, there will be inflation, but in a year or two we'll be right back where we started, probably higher, thats just the way economics work.

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M / Yo Mommas House
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Posted 4/10/08 , edited 4/21/08
^Please provide reasons why to blame china and bush because the economy has been bad before bush.
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26 / F / \( ø∑ø;)/ New YAW...
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Posted 4/10/08 , edited 4/21/08

drizza wrote:

^Please provide reasons why to blame china and bush because the economy has been bad before bush.


bush wasted money on this war and killed our relations with oil-producing countries, which has led to the skyrocketing price of oil...
._.;

china devalued the dollar and threatened to stop measuring its money using the american dollar and instead use the euro..

it's a buncha stuff.
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M / PLANTS
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Posted 4/10/08 , edited 4/21/08

drizza wrote:

^Please provide reasons why to blame china and bush because the economy has been bad before bush.


i think china is being too agressive in terms of being the worlds largest economy.
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M / Yo Mommas House
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Posted 4/10/08 , edited 4/21/08
China is not depresaiting the dollar we are..... When you keep printing billions of dollars out of thin air that puts more money into circulation and currently the dollar isnt backed by anything so it has no limit to how much of it we can print. The more money in circulation the less the dollar is worth I dont see how you guys are blaming China you need to do some research on the federal reserve.

Now we are in a war with Iraq and about to be with one in Iran and the misleading media lieing to the American people gaining our support. We are dumping billons of dollars in this war with money we dont have so what do we do... We borrow money from China which increases debt also from the federal reserve who puts interest on every dollar we borrow this is outragous. It is as if the goverment has no limits to how much they spend becasue they keep on borrowing and borrowing THUS INCREASING MORE DEBT TO OUR COUNTRY. None of these presidents I believe that the media is pushing has any solution to this only one which is Ron Paul who is getting completly shut out of the media. If you want know why he is the only one who understands go to www.ronpaul.com and look at his economy issue makes way more since then these other puppets running for president.
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M / PLANTS
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Posted 4/10/08 , edited 4/21/08

drizza wrote:

China is not depresaiting the dollar we are..... When you keep printing billions of dollars out of thin air that puts more money into circulation and currently the dollar isnt backed by anything so it has no limit to how much of it we can print. The more money in circulation the less the dollar is worth I dont see how you guys are blaming China you need to do some research on the federal reserve.

Now we are in a war with Iraq and about to be with one in Iran and the misleading media lieing to the American people gaining our support. We are dumping billons of dollars in this war with money we dont have so what do we do... We borrow money from China which increases debt also from the federal reserve who puts interest on every dollar we borrow this is outragous. It is as if the goverment has no limits to how much they spend becasue they keep on borrowing and borrowing THUS INCREASING MORE DEBT TO OUR COUNTRY. None of these presidents I believe that the media is pushing has any solution to this only one which is Ron Paul who is getting completly shut out of the media. If you want know why he is the only one who understands go to www.ronpaul.com and look at his economy issue makes way more since then these other puppets running for president.


OHH...is that so....man i'm really confused!!!!!!!
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