Recession or Depression?

[Politicallore]

http://beforeelections.com/election-2008/the-actual-state-of-the-union-possible-depression/
Great post pro pro pro Ron Paul
What do you think...
Recession or Depression?

[Politicallore]

please bump

[praxisseizure]

If the world lets us fail, then they will come down with us. Depression will not be isolated to us, it will pervade the fiat world.

I'm worried more about when the whole world enters massive recession, not whether we are doing poorly.

If it is now, then so be it. I don't think now is the time. There is more fiat to go around.

[Michigan11]

China and other nations, their governments I refer to here, are playing a game.

They are setting up manufacturing, roads, and all the infrastructure one could imagine, by inviting captial investment into their economies. They are using the current empire, us, and our currency to set all of this up.

They produce and gain the transfer of wealth and of our technology, and knowledge, and they loan the crap(dollars) back to us, as an incentive to become dependent upon them, and it begins the decline of our currency, the source of wealth for our society.

As this transfer of wealth and knowledge comes to it's peak, the dollar and the western world is coming to it's knees. Those in the District of Criminals, are more than happy to continue their spending of this borrowed money and the pull in the ever dependent American public.

These other nations now produce their own goods and services now.

[zackmario]

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[JohnnyWrath]

Government/banks are heavily invested in foreign currency such as the Euro, so when the dollar falls, they make money of the Euro etc....recession. Middle class is already feeling it....forced to pay for the lower class while they struggle themselves.....sorry, it's true.

[AceNZ]

If the world lets us fail, then they will come down with us. Depression will not be isolated to us, it will pervade the fiat world.

I disagree. Sure, the rest of the world will feel a dip. But shortly after that, they will figure out that they are actually better off either consuming their own products or selling them to countries with more stable currencies.

Also, the rest of the world still has manufacturing capacity. They are able to produce, where the US has shipped most of our manufacturing capacity overseas. It's the ability to produce that makes a country wealthy, not the ability to consume.

[JohnnyWrath]

It's the ability to produce that makes a country wealthy, not the ability to consume.

I agree, but many of these idiots seem to think we are hitting the next tier..."the service industry" where it seems we will all mow each others grass and cut each others hair....

Manufacturing is where it is at, and why China is taking over.... "service industry economy" too funny

LMAO...."you cut my hair with scissors made in China, and I'll install your Chinese made cable box", and we are all screwed....we have to make stuff physically we designed...we can't all be engineers or work on computers all day....it is NOT going to work at all....seems like every young person wants to work on computers all day at a desk....it won't work, and it's not going to.

[Sematary]

I agree, but many of these idiots seem to think we are hitting the next tier..."the service industry" where it seems we will all mow each others grass and cut each others hair....

Manufacturing is where it is at, and why China is taking over.... "service industry economy" too funny

LMAO...."you cut my hair with scissors made in China, and I'll install your Chinese made cable box", and we are all screwed....we have to make stuff physically we designed...we can't all be engineers or work on computers all day....it is NOT going to work at all....seems like every young person wants to work on computers all day at a desk....it won't work, and it's not going to.

People are not "idiots" for believing our economy is evolving. What is, in fact, occurring, is that the rest of the world is slowly (very slowly) catching up to us. When the time comes (and it will) that it costs as much to produce a product in China as it does in the United States then the manufacturing base will move on to another, cheaper country. Eventually, the costs will level out world wide and then it will be a matter of who can produce the best product - not the cheapest product. I believe this is known as evolution.