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Author Topic: The Great Depression of 2003  (Read 744 times)

Offline Eagler

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The Great Depression of 2003
« on: July 11, 2002, 08:22:34 AM »
Anyone see what the S&P 500 closed at yesterday?

I know most of you are independently wealthy and this is not a concern :), but anyone else get the feeling we aren't heading for a deeper recession but the mother of all depressions?

I’m not a market expert but have talk to a few who are much more knowledgeable about it than I & they say we are about to tank - big time! It's a snowball going downhill, getting bigger and faster as it goes and there isn't anyway to stop it.

The difference between now the 20/30 depression is we aren’t the same ppl. Can you see orderly bread lines of the unemployed or do you see widespread looting?

How would one prepare for this?
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Offline Ripsnort

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The Great Depression of 2003
« Reply #1 on: July 11, 2002, 08:24:58 AM »
Its a good time to be a firearm owner! :D
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Offline Garobi

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???
« Reply #2 on: July 11, 2002, 08:35:41 AM »
Go ahead and have your recession, depression, economic downturn, etc...

I refuse to participate.
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Offline Ripsnort

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Re: ???
« Reply #3 on: July 11, 2002, 08:45:40 AM »
Quote
Originally posted by Garobi
Go ahead and have your recession, depression, economic downturn, etc...

I refuse to participate.


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Offline OZkansas

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The Great Depression of 2003
« Reply #4 on: July 11, 2002, 08:51:37 AM »
I believe you will hear nothing but gloom and doom until  the first of November.  Democrats and the press will be hitting this hard as the Democrats have no issues on which they can demonstrate a vote "for" them.  They only have their old and tired story that America is going to hell without them in power.   Will the party of fear, the Democrats, tactics work?
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Offline Eagler

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The Great Depression of 2003
« Reply #5 on: July 11, 2002, 09:02:00 AM »
Quote
Originally posted by OZkansas
I believe you will hear nothing but gloom and doom until  the first of November.  Democrats and the press will be hitting this hard as the Democrats have no issues on which they can demonstrate a vote "for" them.  They only have their old and tired story that America is going to hell without them in power.   Will the party of fear, the Democrats, tactics work?


Yes, their exaggerations of the issue doesn't help but neither does almost daily 10,000 employee lay offs along with ever expanding discoveries that the "best economy of our lifetime" 93 - 00 was nothing but a bunch of hot air and corruption, just like the admin it emulated.

No, if anyone is happy about its, its the dems which will use and abuse it for their own political gain in 11/02. The Reps best defense is to try and lay out the beginning & reasons of the crash in terms joe 6pack can understand. Almost an impossible task & keep the "new tone" in DC - IMO....
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Offline midnight Target

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The Great Depression of 2003
« Reply #6 on: July 11, 2002, 09:14:03 AM »
Well, All I can see is a rosey future. My company has grown steadily each year, and 2002 has been a record breaker so far. Demographics say our customer base is growing geometrically and life is good. When I started here our stock was trading at 18. It was at 62 when it split this year. I think recessions can be created by panic. The economy of the 90's wasn't all hot air, and it wasn't all Clinton. Greenspan is the real hero, and he is still around so chill.
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Offline OZkansas

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The Great Depression of 2003
« Reply #7 on: July 11, 2002, 09:19:27 AM »
It's also a real shame that tax cuts, not the sham tax cut passed by Congress, aren't in place.  Who knows that all that extra capital in the market place would have done!
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Offline Ripsnort

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The Great Depression of 2003
« Reply #8 on: July 11, 2002, 09:21:12 AM »
Quote
Originally posted by midnight Target
Well, All I can see is a rosey future. My company has grown steadily each year, and 2002 has been a record breaker so far. Demographics say our customer base is growing geometrically and life is good. When I started here our stock was trading at 18. It was at 62 when it split this year. I think recessions can be created by panic. The economy of the 90's wasn't all hot air, and it wasn't all Clinton. Greenspan is the real hero, and he is still around so chill.


There is some truth within...the problem is this: When overseas investors start balking and pulling out of the stock market, it sends it spiraling down...our economic numbers show that its on the upswing, however the CEO scandals and booking cooking it countering any upswing in the economy...it only takes a fraction of overseas investors to pull out and the knee - jerk reaction from Wallstreet sends us into the tomb.  Its happening as we type.(8774 and dropping)
« Last Edit: July 11, 2002, 09:24:00 AM by Ripsnort »
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Offline Nifty

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« Reply #9 on: July 11, 2002, 09:23:56 AM »
I hope interest rates drop again.  :)   Need to buy a house eventually.
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Offline Eagler

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The Great Depression of 2003
« Reply #10 on: July 11, 2002, 09:51:20 AM »
Right Rip

and with that confidence in the dollar slips which will result in inflation


watch the $$$ - with it goes the market and vise versa...
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Offline Fatty

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The Great Depression of 2003
« Reply #11 on: July 11, 2002, 09:52:08 AM »
Inflation is the last thing we need to worry about right now.  Deflation is a real possibility.
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Offline popeye

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The Great Depression of 2003
« Reply #12 on: July 11, 2002, 10:19:05 AM »
The war with Iraq will make us forget the economy.  Should be starting about August 2003....just before the election.
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Offline miko2d

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The Great Depression of 2003
« Reply #13 on: July 11, 2002, 10:52:12 AM »
Quote
Originally posted by Ripsnort
There is some truth within...the problem is this: When overseas investors start balking and pulling out of the stock market, it sends it spiraling down...

 Which will drive the dollar down from it's inflated heights. Which means that our (US) products will be more competitive and foreign products less competitive - without tariffs and subsidies.
 Jobs will be created and real economy benefit.
 If the stock valuations return to the level where they belong - so what?

 Also, withg lower dollar our companies will drop / are dropping much more for foreign investors then for us - punishing those stupid foreigners for helping drive our market and the dollar to unsustainable levels. With $$ falling, the US stocks will actually become much more attractive (cheaper) investment for foreignets again.

 All those "retire at 40" hopes were stupid to start with. If the economy output is the same, that's what is going to be consumed - regardless how much the "market" is worth. The way it would have corrected itself would be when those retirees stopped buying and started cashing in their retiremet stocks - driving the market even lower then now.
  Good thing it happened sooner  - before those people quit their jobs and bought retirement houses, etc. It is much easier if your retirement savings evaporate when you still work then when you are already retired.

 miko
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Offline Ripsnort

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The Great Depression of 2003
« Reply #14 on: July 11, 2002, 10:55:25 AM »
heh Miko, I guess that would be a "optimists" approach...if you could call it that!
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