Economic Crisis of 2008/2009

[Edgewalker]

Originally Posted by Sugetsu

Ok... I was really... really thinking of keeping the following "information" to myself but I just couldn't pass up the chance to spice things up a little bit.

I saw this conspiracy theory video back in late August, before the whole stock market and financial crisis hit the news papers and media the way it has during the past 2 months. In other words, I saw this video when the problem with the housing market was still going. I found a bit prophetic, because things have started shaping up the way the video said it would.

Have you heard of the Amero?

Please watch: http://www.youtube.com/watch?v=uP3y1GSozLY

FREE DOWNLOAD OF ALL MY VIDEOS!!!!!!
PLEASE HELP JESUS SAVE SOULS BEFORE THE END,

uhuh...yah....

[yezhanquan]

If the banks hold, the worst will not come. If they start going in their thousands ala the 1930s, then we'll have a problem.

[4Tran]

Originally Posted by Sugetsu

I saw this conspiracy theory video back in late August, before the whole stock market and financial crisis hit the news papers and media the way it has during the past 2 months. In other words, I saw this video when the problem with the housing market was still going. I found a bit prophetic, because things have started shaping up the way the video said it would.

I can't think of a single reason to extend any credibility to this recording. There's always someone predicting economic disaster of some kind, and it's likely that one of them gets lucky and timed it to a real problem. The difference between guys like this and people like Roubini is that the latter demonstrate a firm understanding of the mechanisms involved and have ideas about what a real solution needs to look like.

Have you heard of the Amero?

It's not going to happen. The United States places far too much pride on the greenback to abandon it unless something truly catastrophic happens. Note that the dollar was kept even during the Great Depression, so this "something" would have to be more severe than that. Moreover, Canada would never agree to a unified currency.

[Shadow Kira01]

The Nikkei 225 plunged 9% to the 9200-level, things are clearly looking bad. It seems that the 700 billion dollar rescue package the U.S. had passed awhile ago isn't very useful at all.

[TigerII]

700 billion dollar package was just a waste of money to keep the rich CEOs out of trouble.


And, I wouldn't call this worldwide. More like Western Hemisphere. How are the Chinese, South Korean, and Japanese economies doing?

Depression here we come, except no world war to pull the Americans out this time.

[Xellos-_^]

Originally Posted by TigerII

700 billion dollar package was just a waste of money to keep the rich CEOs out of trouble.


And, I wouldn't call this worldwide. More like Western Hemisphere. How are the Chinese, South Korean, and Japanese economies doing?

Depression here we come, except no world war to pull the Americans out this time.

All the major stock market in the East are dropping like flies. Companies like Toyota, Sony and samsung are cutting forecast. They aren't doing as bad as the West but this will effect them. Most Asian markets are dependent on selling crap to the west. The longer the western economy goers into the dump the more effected the Eastern economies will be effected.

[TrueKnight]

Originally Posted by TigerII

And, I wouldn't call this worldwide.

http://news.yahoo.com/s/ap/20081008/...po8zS2PRxv24cA

[TigerII]

Whoa, with Iceland is having a shit storm. They might even take loans from Russia. I wonder if this is an investment by Russia. Iceland was a strategic point both NATO and the USSR wanted during the Cold War. We are about to see a brand new world with lots of changes.

[kayote]

the UK councils that invested in iceland, they are not even guaranteed to get there money back. it is chaose.

also i remember a couple of days a go i was watching the news and i think this guy was a ceo or something but he get to keep all of his fortunes which accumelates to around .5billion and he was'nt even sorry for it.

[NakedAngelX]

Well i wonder what's going to happen to iceland, such thing in modern world has never happened. Iceland government goes down, if russians agree to help. Do they take over all iceland economy and iceland'll be Russia?

Bloody Canadian dollar is dropping like shit!!! Now i can't afford to purchase anymore stuffs on ebay and all... This is really sad...

[TigerII]

Euro losing value. $1.38=1 Euro. It use to be worth like almost double the dollar.
We really are heading to world depression.

Originally Posted by NakedAngelX

Bloody Canadian dollar is dropping like shit!!! Now i can't afford to purchase anymore stuffs on ebay and all... This is really sad...

Yeah, I know what you mean. I buy books from a publishing company in the United Kingdom, or I use to. I have since given up on my collection because the shipping is way too much. I am afraid this is the beginning of what I(and the middle class) will lose. Internet, TV, etc will be next to go. Then shelter and such.

[Anh_Minh]

1€ used to be worth $1.5, not 2.

[TigerII]

Actually $1.7, which is close to two. Why I said almost.

[Anh_Minh]

It's never been bid for more than 1.60380.

[TigerII]

Eh, the source I read was ten cents off, but that is still over the halfway mark and close to 2. My point was in less than a year is has lost quite a bit of value. The pound as well.

[Blaat]

To be fair the Euro only managed to reach these heights fairly recently (as in earlier this year) $1.3 = €1 was pretty much the norm for half a decade (and it only existed since 1999)

[Anh_Minh]

20% off isn't "almost". And a year ago, 1€ was worth $1.41410.

Note, it'd take a better economist than I (not hard) to link the vagaries of exchange rates to world depression.

[Firetoad]

Lehman Brothers CEO got 500M all by himself.

[4Tran]

Originally Posted by Shadow Minato

The Nikkei 225 plunged 9% to the 9200-level, things are clearly looking bad. It seems that the 700 billion dollar rescue package the U.S. had passed awhile ago isn't very useful at all.

That money hasn't hit the system yet, and it won't do so for some time to come. However, it's fair to say that news of the package's passage into law has done little to allay the market's fears. It's also worth noting that central banks around the world have dumped enormous sums of money into the markets since last Monday ($630 billion by the Federal Reserve), and that didn't do much either. If you add up all the other moves in just the last week (the Fed playing with commercial papers, the announcements guaranteeing bank deposits, the drop in interest rates), it feels like the central banks are panicking.

Originally Posted by TigerII

And, I wouldn't call this worldwide. More like Western Hemisphere. How are the Chinese, South Korean, and Japanese economies doing?

Depression here we come, except no world war to pull the Americans out this time.

There's two facets in play right now: the banking crisis, and the subsequent run on stocks. Of these, it looks like the banking problem is localised to the U.S. and some European countries. The stock problem is worldwide. The big difference is that the stocks in countries with strong banks should be able to recover much faster from this mess.

If there is a depression, it shouldn't spread to the rest of the world. At the very least, China and India should be in decent shape.

Originally Posted by NakedAngelX

Bloody Canadian dollar is dropping like shit!!! Now i can't afford to purchase anymore stuffs on ebay and all... This is really sad...

That's mostly because a lot of investors are fleeing stocks and putting their money in U.S. dollars and Treasury bills. This artificially inflates the value of the dollar in relation to most other currencies. If the Treasury keeps devaluating the dollar as it has been, you should see this situation reverse itself before too long. For that matter, you should be happy to be in Canada - Canadian banks have been among the most conservative financial institutions in the world, and right now, they're among the stablest as well.

[Xellos-_^]

Originally Posted by 4Tran

That's mostly because a lot of investors are fleeing stocks and putting their money in U.S. dollars and Treasury bills. This artificially inflates the value of the dollar in relation to most other currencies. If the Treasury keeps devaluating the dollar as it has been, you should see this situation reverse itself before too long. For that matter, you should be happy to be in Canada - Canadian banks have been among the most conservative financial institutions in the world, and right now, they're among the stablest as well.

i get it this whole economic mess was created by the canuck to take over the world.

Blame Canada