US Recession

[KingsCrow]

Seriously bad stuff. Our market for some strange reason pins itself to theres. Despite experts saying our economy is going along nicely we are seeing it go in the red.

If the US does go into recession we will see higher interest rates. But also the decline in the power of the US. This is bad news in my book.

In an age where China is increasing by 10% a year, the USA is in decline. The US needs to get its act together. With them spending hundreds of Billions on the war in Iraq I can't see it happening anytime soon.

 

[Bad Santa]

and I still don't have a house...

 

[daddy_4_eyes]

Seriously bad stuff. Our market for some strange reason pins itself to theres. Despite experts saying our economy is going along nicely we are seeing it go in the red.

If the US does go into recession we will see higher interest rates. But also the decline in the power of the US. This is bad news in my book.

In an age where China is increasing by 10% a year, the USA is in decline. The US needs to get its act together. With them spending hundreds of Billions on the war in Iraq I can't see it happening anytime soon.

Nothing like a war to kick start the economy. With Iraq being a PR disaster, don't be surprised if the post-Bush administration pulls out of Iraq and goes after another target. Iran should be shitting their pants right now, they're the logical first choice.

 

[KingsCrow]

You would hope not. If they invade Iran it will cost so much money. Imagine if they spent that money on fixing their own problems. Health etc.

I can't get over how much the war in Iraq is costing

 

[Diamond Joe]

You would hope not. If they invade Iran it will cost so much money. Imagine if they spent that money on fixing their own problems. Health etc.

I can't get over how much the war in Iraq is costing

Um, no...

If they don't invade Iran, it will cost too much money.

Why?

Because Iran are threatening to start trading their oil in a non-dollar currency, such as Euros. If they were to do this, it would mean that relevant traders no longer have to purchase American dollars in order to get oil, and this would reduce the artificial 'demand' for the American dollar.

If this sounds ridiculous to any of you out there, I might just point out that another oil-rich country once changed to accept Euros for its oil, but its leader was soon 'legally' executed. That country now trades in dollars again. Oh, did I mention that that country was Iraq?

 

[mick_foley]

Um, no...

If they don't invade Iran, it will cost too much money.

Why?

Because Iran are threatening to start trading their oil in a non-dollar currency, such as Euros. If they were to do this, it would mean that relevant traders no longer have to purchase American dollars in order to get oil, and this would reduce the artificial 'demand' for the American dollar.

If this sounds ridiculous to any of you out there, I might just point out that another oil-rich country once changed to accept Euros for its oil, but its leader was soon 'legally' executed. That country now trades in dollars again. Oh, did I mention that that country was Iraq?

This people is what everyone calls the republican point of veiw.

It was interesting to listen to today’s primaries in South Carolina that senator John McClain will try and keep the war going until America win it. "even if it takes 100 years"

George W Bush is trying to pass legislation through the US senate that will allow him to set up army bases in Iraq and take over their government.

The democrats are more interested s establishing a peace treaty with the Iranian people and get the hell out of dodge.

 

[BadSeed]

http://zeitgeistmovie.com/

well worth a watch, thou its long its very interesting, about september 11 and the banks etc etc..

 

[moistie]

and I still don't have a house...

If there is a recession, that is something to be happy about. God knows what will happen to interest rates.

 

[Scratcher Gillespie]

Seriously bad stuff. Our market for some strange reason pins itself to theres. Despite experts saying our economy is going along nicely we are seeing it go in the red.

If the US does go into recession we will see higher interest rates. But also the decline in the power of the US. This is bad news in my book.

In an age where China is increasing by 10% a year, the USA is in decline. The US needs to get its act together. With them spending hundreds of Billions on the war in Iraq I can't see it happening anytime soon.

Don't disagree with most of this, but could you explain this sentence further??

 

[Lance Uppercut]

If there is a recession, that is something to be happy about. God knows what will happen to interest rates.

except interest rates going down isn't much good if it's mirroring house prices

 

[Borgsta]

except interest rates going down isn't much good if it's mirroring house prices

Which is all good news if you don't have a house and are looking to buy.

 

[moistie]

except interest rates going down isn't much good if it's mirroring house prices

Yep and it doesn't help if suddenly there is a huge contraction in the job market and loads of people cannot afford to pay their grossly overinflated mortgages. Which is why it might not be such a bad thing for people like Bad Santa who aren't in the housing market.

 

[Lance Uppercut]

Which is all good news if you don't have a house and are looking to buy.

then it's not bad at all. Also, its good if you are in the market for a 2nd, investment property

Yep and it doesn't help if suddenly there is a huge contraction in the job market and loads of people cannot afford to pay their grossly overinflated mortgages. Which is why it might not be such a bad thing for people like Bad Santa who aren't in the housing market.

good call

 

[Lyyynnnchy]

How's a recession in the US going to make people in AUS not be able to afford there mortgages?

 

[Jason Voorhees]

How's a recession in the US going to make people in AUS not be able to afford there mortgages?

In a recession, unemployment rises - And if you lose your job you are ****ed.

 

[Lyyynnnchy]

Good point. Well I had better start saving, had some money tucked away last year but brought a car instead because houses were to expensive

Stupid decision in the end. Crap car (well my one is anyway) and costly on fuel

What would happen to rent prices? People will be buying more house because of the prices and interest rates? But then more people will be renting due to having to sell there house because there out of a job?

 

[Jason Voorhees]

What would happen to rent prices? People will be buying more house because of the prices and interest rates? But then more people will be renting due to having to sell there house because there out of a job?

Not really sure. One thing i would expect though (at least in the short term) , if interest rates and other general cost of living expenses keep rising, people with investment properties will probably try and pass the additional costs onto the renter ...

 

[Diamond Joe]

This people is what everyone calls the republican point of veiw.

It was interesting to listen to today’s primaries in South Carolina that senator John McClain will try and keep the war going until America win it. "even if it takes 100 years"

George W Bush is trying to pass legislation through the US senate that will allow him to set up army bases in Iraq and take over their government.

The democrats are more interested s establishing a peace treaty with the Iranian people and get the hell out of dodge.

What do you mean? Do you think that I have a 'Republican point of view', or that what said, was how the Republicans think?

As for the Democrats, last I heard it was Obama that was interested in pulling out soon, Hillary refuses to set any kind of timetable. Is this still the case?

 

[gaelictiogar]

Which is all good news if you don't have a house and are looking to buy.

Exactly. A crashing market with sellers desperate to fire sell is great for those of us previously squeezed out.