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So how about that Economy?

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slimbruddah
Posts: 2611 - Karma: 25
Anyone else agree that a huge shit storm is coming? I smell depression, not recession.
Oct 20 2008 8:23PM
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seeingstars
Posts: 422 - Karma: 14
i don't agree

and neither does the best investor of all time

http://timesofindia.indiatimes.com/Intl_Business/Fears_regarding_US_stocks_make_no_sense_Warren_Buffett/articleshow/3609825.cms
Oct 20 2008 8:34PM
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slimbruddah
Posts: 2611 - Karma: 25
From article above.

"But most major companies will be setting new profit records 5, 10 and 20 years from now," he asserted."


Five years sounds like a long time to me.
Oct 20 2008 8:38PM
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skiEER
Posts: 4089 - Karma: 79
i could see it happening
Oct 20 2008 8:40PM
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seeingstars
Posts: 422 - Karma: 14
The only reason everyone thinks the market is going to fail is FEAR. If everyone would just calm down and figure out that the US government will not let it's economy fail, which it has proven with the 700 billion dollar bailout and what not, we would be fine.

That being said, our economy is too diversified to fail. We simply have our hands in too many things. If I was Canada I would be more worried because they have so much of their economy devoted to natural resources. That's why the Canadian dollar is devaluing- because raw materials are devaluing.

If you're smart you'll buy now.
Oct 20 2008 8:43PM
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VT_scratch
Posts: 8710 - Karma: 5,615
exactly. you would think the candadian $ would be doing better than the american $ but because they have so many natiral resources like gas trees etc and they sell a shitload to US, us isnt buying thus the canadian dollar not soaring

at least thats what i think..
Oct 20 2008 8:52PM
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slimbruddah
Posts: 2611 - Karma: 25
Except the bailout has had no effect.
Oct 20 2008 10:00PM
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clive_bixby
Posts: 1834 - Karma: 499
bailout-confidence booster. everyone should just stop freaking the fuck out
Oct 20 2008 10:22PM
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hype
Posts: 1440 - Karma: 21
"time will tell"- bob marley
Oct 20 2008 10:34PM
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Download-My-Apps
Posts: 5069 - Karma: 1,017
Firstly, we're not dependent on staples.  And you don't think China and India aren't waiting to buy our exports when  the states go broke?

Canada is much better situation the states, if it was up to me we'd already start selling to other countries other than the states. We've cut you guys way too much slack, the softwood lumber deal was a joke, not to mention California owes BC shit loads of money for electricity.
Oct 20 2008 10:48PM
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