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#1 User is offline   aotsukisho 

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Posted 03 March 2009 - 07:49 PM

Aside from the 'we are in a recession' thing, the economy has been pretty stable for awhile. People everywhere are grumbling, but Gov. Schwarzenegger tells everyone to stop whining and do something.

http://www.infoworld.com/archives/emailPri...zenegger_1.html

This is exactly the sort of thing I don't understand with people. My mom, for example, tells us to save our money because the economy is so shitty. Why should we save all our money just cause we're in a recession? The way I see it is we should all be spending as much as we safely/comfortably can, because not spending money is only going to make it worse.

I agree with this economic stimulus pitch President Obama is going for, as it's probably needed to avoid a Great Depression 2, along with the bailouts that already took place. I think that the completely free market will destroy itself eventually, and the capitalist nature of the USA has minimal interference with big business until shit happens.

Those of you that still have jobs, be thankful. Those of you that got laid off know that this world can be a harsh place, especially for those just entering the workforce...my condolences.

Your thoughts on the current economic situation? I'm not qualified in economics/business in any way, so there are probably aspects that I'm missing, but I think this whole thing is stupid. On top of that, it allegedly originated from banks in our country...gg america. I still can't believe that a few big companies screwing up can affect the entire world's trade and wealth.
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#2 User is offline   katsu 

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Posted 03 March 2009 - 09:54 PM

I second that. Shit, not being able to find work sucks. Not to mention, with a busy schedule, it makes it even harder. blargh.
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#3 User is offline   Joshua Pack 

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Posted 04 March 2009 - 05:52 AM

Well, people should NOT be saving their money if they can comfortably spend. 2 reasons.

1. it hurts the economy cause your not using the money like you were when the economy was good(I think shonen said that :D )

2. the value of the dollar is likely to go down from the economy being hurt, so the saved money will end up useless.

I am no good with economics, but that's what i think.

Also i make no money, and I can't find a decent job, and im mad :(
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#4 User is offline   aotsukisho 

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Posted 04 March 2009 - 10:15 AM

I forgot to mention the deflating dollar value, thanks for adding it Vejida. The banks are like stocks, lol.
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#5 User is offline   Joshua Pack 

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Posted 05 March 2009 - 09:05 AM

lol, yea pretty much. they use your money in stocks, which is why they offer FREE CHECKING.

At least that is what i always thought, i guess i could look up some info on that, but im too busy right now.
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#6 User is offline   ramengirl 

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Posted 09 July 2009 - 01:45 PM

what's really upsetting me besides the aforementioned.. is that the government (Lingle) has been pulling funds out of education and non profit organizations that cater towards helping kids. What a place to hit.. so now a lot of agencies are hit really bad (including UH). What a dumb move. So now the poor and less fortunate are even more unfortunate during these hard times. I would also like to add that I still can't find a job :(
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#7 User is offline   Joshua Pack 

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Posted 10 July 2009 - 08:41 AM

They do not know how to handle a situation like this. unfortunately for all of us, this day was coming no matter what. This same thing will happen to anyone who spends, spends, spends, and let the next generation worry about it.
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#8 User is offline   Enoesiw 

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Posted 20 July 2009 - 07:48 PM

View PostVejida, on 10 July 2009 - 08:41 AM, said:

They do not know how to handle a situation like this. unfortunately for all of us, this day was coming no matter what. This same thing will happen to anyone who spends, spends, spends, and let the next generation worry about it.



I know my parents were talking about this way back when so it's not like it was impossible to see coming. I think it was back in like '02 (or earlier) or something like that. 7 years ago and they could foresee this. They might not have known exactly how, but they could understand the effects of the unknown cause. They don't even have college degrees!

I don't think the problem is spending, it's spending more than you can handle. Credit is a powerful tool if used properly. The problem comes in when you spend more than you can handle.

The whole housing crisis was also just bankers screwing people over. Rather than give them a fixed rate loan (which they couldn't afford) they gave them a NINJA loan (literally No Income No Job or Assets) which started out as a super low rate loan, but the interest was variable. So you get a 0.9% loan and then it skyrockets to 19% (disclaimer: the APRs actual numbers were probably different, but you get the idea) and soon you're house is being foreclosed because you can't afford to make payment anymore. So the banks were stuck with houses and the Realtors were rolling in dough and the person who got the loan is destroyed, no money, no credit, no house.

So who do we blame? The people who knew they couldn't afford the house but tried to get one anyway? The banks who knew their clients couldn't afford the house or loans but gave them the loans anyway? Or the realtors who made the deals and kept the money even though the deals should never have cleared in the first place?

I guess my point is this: Know your limits. You know how much you make. You know how much you need to survive. You know how much you can spend. And always save a bit for emergencies. If you can't be mature and make the right decisions, find someone who can. And hope they don't funnel your money into their bank account.
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