The Economic Recession - Gaming World Forums

Topic: The Economic Recession (Read 2018 times)

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Dulcinea

#1 January 17, 2009, 02:58:11 am

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It's been all over the news that our neighbours to the south are sliding deeper into recession. Canada, while slightly more protected (due to different financial systems) is also starting to feel the pinch. As well, coutnies all over the world are following suit.

What do you think is the cause of the recession? Some causes I've heard are poor investments, the Iraq War, normal economic tide, exporting the manufacturing sector in the United States, failing of the North American Auto Industry, China (seriously?), too many loans, buying on credit, and a free global market.

What do you think are possible solutions to ease the blow to the world? Is a bailout the answer? Reforms to our economic structure?

How do you think this will affect you? The community you live in? Your immediate/non-immediate future? The immediate/non-immediate future of others?

Last Edit: January 17, 2009, 03:02:06 am by Dulcinea

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Ryan

#2 January 17, 2009, 03:00:02 am

thx ds k?
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laissez faire economics and pigheaded policy spearheaded by the bush administration, iraq war, buying on credit, etc led to the collapse of the american market, which in turn collapsed the rest of the worlds

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Farren

#3 January 17, 2009, 04:02:28 am

I fear and I tremble
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our government wastes alot of fucking money I've seen it first hand.

Edit: I'm not even talking through jobs or anything like that either but ridiculous spending by people who just don't give a fuck because its not their money.

Last Edit: January 17, 2009, 04:05:49 am by Coxswain

DEUCE: MEETING THE URINE UP CLOSE AND PERSONAL AND REALIZING IT'S JUST LIKE ME AND MY PREJUDICES THIS WHOLE TIME WERE COMPLETELY FFFFFFFFFFFFFFFFFFF PTTTTHTHTHH GOD IT'S EVERYWHERE DEUCE: FUCK THIS TASTES LIKE PISS PANTS: WHERE IT SHOULD TASTE LIKE COTTON CANDY OR PICKLES DEUCE: OR AT LEAST LIKE URINE NOT PISS

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Bizzle

#4 January 17, 2009, 04:04:40 am

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Quote from: Coxswain on January 17, 2009, 04:02:28 am

our government wastes alot of fucking money I've seen it first hand.

where?

Said Bizzle.

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Farren

#5 January 17, 2009, 04:10:06 am

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an entire fleet costing taxpayers millions and millions of dollars so they can basically chug across the Chinese border back and forth over and over again pissing them off the whole time.

its called "national security" I think

Yeah I edited that a lil bit just encase I was giving anything important away

Last Edit: January 17, 2009, 04:14:37 am by Coxswain

DEUCE: MEETING THE URINE UP CLOSE AND PERSONAL AND REALIZING IT'S JUST LIKE ME AND MY PREJUDICES THIS WHOLE TIME WERE COMPLETELY FFFFFFFFFFFFFFFFFFF PTTTTHTHTHH GOD IT'S EVERYWHERE DEUCE: FUCK THIS TASTES LIKE PISS PANTS: WHERE IT SHOULD TASTE LIKE COTTON CANDY OR PICKLES DEUCE: OR AT LEAST LIKE URINE NOT PISS

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Barack Obama

#6 January 17, 2009, 04:37:36 am

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deregulation of the financial sector under Clinton allowed a lot of very large banks and insurance companies to play it pretty loose with their securities.

All of the sudden it got really easy for people to get mortgages to buy homes or property that they often couldn't afford, banks used these mortgages as securities for other financial services, the housing sector produced too many houses causing home prices to fall, falling home prices slowed production and hit a lot sectors of the economy especially builders, so the economy slowed down indicating a 'normal' recession. However, as the economy started slowing down a lot of people couldn't afford to stay in their homes so they got foreclosed on. So the banks, which used the mortgages as a securities, were stuck with a bunch of property that's now worth less than what was originally loaned out for them thus making them 'toxic' assets and set into motion a financial crisis that has spiraled out of control.

All of this is also amplified by the factors mentioned in the original post: the de-industrialization of the USA, massive amounts of personal debt, absurd trade deficit, expensive wars in the middle east and asia, etc. etc. etc....

Last Edit: January 17, 2009, 04:49:13 am by DietCoke

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Artis Leon Ivey Jr

#7 January 17, 2009, 04:43:36 am

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before some fucking republican comes in 1. you believe in the free market remember do not say HEH DEMOCRATS and 2. bush had multiple opportunities to overturn this legislation. he did not.

brian chemicals

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Eschatologist

#8 January 17, 2009, 04:49:18 am

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All I know is my 401k got trashed recently, and I am afraid that the worst is yet to come!

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Shepperd

#9 January 17, 2009, 04:57:35 am

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just read a news that says Circuit City is down and out by March

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Dark Angel

#10 January 17, 2009, 05:55:57 am

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I only have this to say; the only way this has affected me and mine is one, gas prices have dropped almost in half, and two, house prices have dropped. Maybe I am lucky as hell, but nothing bad has happened to me, or anyone I know, just good.

What my site's about (Click to reveal)

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Barack Obama

#11 January 17, 2009, 06:06:20 am

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Ryan

#12 January 17, 2009, 06:08:28 am

thx ds k?
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is that a dragon ball Z LARP?

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headphonics

#13 January 17, 2009, 06:10:37 am

sea of vodka
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nah, just a regular rp i think. you know, just a regular ol dbz rp. no biggie

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YourHero

#14 January 17, 2009, 06:16:31 am

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Quote from: headphonics on January 17, 2009, 06:10:37 am

nah, just a regular rp i think. you know, just a regular ol dbz rp. no biggie

dammit. i would have had the perfect costume too :<

Quote from: inflamed penii on January 17, 2009, 06:23:32 am

sometimes, you need to quote yourself to feel important.

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Marcus

#15 January 17, 2009, 06:45:14 am

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We were in a recession in 2001 but it wasn't until last year when people started going batshit insane about it.

While most of the stuff people mentioned in this topic are on the money, one other thing about Americans in general that fucks us over is that at the slightest evidence of loss, we fucking panic. Banks don't have money because they immediately reinvest it once you deposit it. Yet, when people hear on the news "SHIT'S GOING DOWN YO" everyone's all like "OH FUCK BETTER WITHDRAW MY LIFE SAVINGS" and banks don't carry hundreds of thousands of dollars for every single person with an account to withdraw. My folks were acquainted with this dude who, for whatever reason, panicked and withdrew 200,000$ from the bank and hid it in his mattress (which ended up getting stolen).

There's never one reason why economies decline, just factors that exacerbate it. If you're a moron who honestly thinks carrying around a wheelbarrow of cash will help you in an actual depression, you're better off giving it to someone who can act more responsibly.

Last Edit: January 17, 2009, 06:46:51 am by Marcus

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Farren

#16 January 17, 2009, 07:14:41 am

I fear and I tremble
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wow all that money and the stupid fucker didn't even bother buying a safe to put it in? what a jackass

DEUCE: MEETING THE URINE UP CLOSE AND PERSONAL AND REALIZING IT'S JUST LIKE ME AND MY PREJUDICES THIS WHOLE TIME WERE COMPLETELY FFFFFFFFFFFFFFFFFFF PTTTTHTHTHH GOD IT'S EVERYWHERE DEUCE: FUCK THIS TASTES LIKE PISS PANTS: WHERE IT SHOULD TASTE LIKE COTTON CANDY OR PICKLES DEUCE: OR AT LEAST LIKE URINE NOT PISS

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YourHero

#17 January 17, 2009, 07:18:41 am

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yeah. that's some stupid shit lol. i have a friend who "doesn't believe in banks" and only uses cash. he keeps it in a brief case!! i don't think banks are the most ethical things invented, but i mean... a brief case!?

Quote from: inflamed penii on January 17, 2009, 06:23:32 am

sometimes, you need to quote yourself to feel important.

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Marcus

#18 January 17, 2009, 07:46:29 am

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Quote from: Coxswain on January 17, 2009, 07:14:41 am

wow all that money and the stupid fucker didn't even bother buying a safe to put it in? what a jackass

The same thing would happen if he had a safe except two people would just lift the thing up and carry it off. A wall safe would have been good but when he walked out with briefcases of money from the bank pretty much everyone in the entire town knew about it.

I talked to the guy briefly as he's the owner of the gym I work out at. He owns like 3 gyms in the entire county and makes 6 figures a year but yeah, most of us who work out there can't help but laugh behind his back and he JOKES about it but we all know it's a facade.

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Bled

#19 January 17, 2009, 08:15:59 am

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It's kinda hard for me to judge whether or not the current state of affairs is really affecting others around me. I mean, I'm not really too worried about myself as my student loans weren't fucked up by it and my main source of income is from web design. As long as there are small companies, artists, and bands in existence then I'll more than likely have coke and cheetos on my desk.

As for everyone else I know - I can't really tell if the economy is bad or if most of my friends are just lazy bums who are satisfied living with their grandparents. I only have one friend around my age who has a job and he's been milking it for like three years now, and even though the place laid off something like 80+ workers he's still doing just fine. Crazy bastard is even supporting a wife and two kids!

It would probably help things if people would learn how to be a bit more responsible with their money, though. Looks to me like predatory lenders have had a field day with lots of motherfuckers for the last few years and now even more people are having to deal with the backlash. I don't really like to buy anything on credit, and the only thing I can justify going into debt for is education.

For every moment of triumph, for every instance of beauty, many souls must be trampled.
Hunter S. Thompson

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Evangel

#20 January 17, 2009, 08:49:14 am

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I see its effects, but I don't see everybody and their momma losing jobs over it. Not here, anyways. What I see is companies having to tighten up because of the lesser profits, and having to change their strategies. It's about impossible to find a new job right now, but most everyone I know with an existing job in a reasonable field is keeping their job.

For example, an RV park opened up recently near the interstate by my neighborhood, and I thought that it would just go to shit, but it's been packed recently every time I've been past it. It's a cheap place to stay for travelers compared to a hotel.

Another example, my father is a construction contractor, and has been very successful, but recently he has had to resort to new things to keep things going. He worsks on state rehabilitation projects where he makes less money, but it's a way to keep business. He's also taken advantage of the housing situation, buying a house for cheap, fixing it up, and weathering the storm until it can be sold in a better economic climate (if you have the money to do this NOW IS THE TIME).

I do not think this situation will reach the depths of a true depression, but will force people to make hard decisions, to rethink their lifestyles, and adapt to something totally different. Not to say that certain people aren't really suffering out there, but that's the kicker when it comes to a free market system, there will be kickass moments of prosperity and times when things go to shit.

I think there are certain people in the financial industry that get so intoxicated with the flow of money that they do some really irresponsible shit, and everyone pays for it. Assholes.

keep posting...

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