Is the U.S. economy about to collapse?

LikeAnOcean
LikeAnOcean Posts: 7,718
edited August 2007 in A Moving Train
I've been watching the news allot today and word is Americans are borrowing more money than they can afford and the U.S. dollar is about to collapse and be worth as much as 50% less in the next few years.. and America's homes are really worth 30 to 40% less than American's think..

I've been taking sacrifices to get ahead and save as much money as I can over the last few years. Word is to spend the money on foreign assets before it drops. What types of foreign things can you trade the U.S. dollar for?
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Comments

  • HailHailVitalogy
    HailHailVitalogy Posts: 6,020
    I've heard about this, I don't know what to make of it. I don't know if it would cause another "depression" but it sure will put our country in even more debt that we will be paying forever, just like the debt this war has cost us :-\

    So much for hoping social security will still be around...I tell ya, whoever becomes President next has SOME job that will either make them a hero or make this country worse.
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  • Ahnimus
    Ahnimus Posts: 10,560
    Buy Gold Boullion from Canada
    I necessarily have the passion for writing this, and you have the passion for condemning me; both of us are equally fools, equally the toys of destiny. Your nature is to do harm, mine is to love truth, and to make it public in spite of you. - Voltaire
  • RolandTD20Kdrummer
    RolandTD20Kdrummer Posts: 13,066
    http://www.planetdan.net/pics/misc/georgie.htm
    Progress is not made by everyone joining some new fad,
    and reveling in it's loyalty. It's made by forming coalitions
    over specific principles, goals, and policies.

    http://i36.tinypic.com/66j31x.jpg

    (\__/)
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  • jlew24asu
    jlew24asu Posts: 10,118
    its certainly possible. but no, I do not believe it is. on the dow alone we can still drop 1000 and still be in whats considered a bull market.

    look what happen today...6 billion shares traded hands. dow was down 350, rallied positive, and ended down 15.

    http://money.cnn.com/2007/08/16/markets/markets_0445/index.htm?postversion=2007081618

    http://money.cnn.com/data/markets/dow/?

    look at a chart for the last 2 years

    http://finance.yahoo.com/q/bc?s=%5EDJI&t=2y


    the market is going to correct itself and be very volatile in the short term.

    the fundamentals of the economy are strong..but the drop in home prices and subprime loans are hurting growth in the economy.

    I read that subprime loan defaults will cost 100 billion. personally, I think the economy make up for that loss but I'm not sure to what extent it will hurt.
  • jlew24asu
    jlew24asu Posts: 10,118
    RolandTD20Kdrummer wrote:
    http://www.planetdan.net/pics/misc/georgie.htm

    are you blaming bush on the market decline? did you praise him when it hit 14,000 a few months ago?
  • Kat
    Kat Posts: 4,973
    I don't think so. This chart goes back to the depression. A few banks might go under though...not the big ones.

    http://finance.yahoo.com/q/bc?s=%5EDJI&t=my&l=on&z=m&q=l&c=
    Falling down,...not staying down
  • jlew24asu
    jlew24asu Posts: 10,118
    Kat wrote:
    I don't think so. This chart goes back to the depression. A few banks might go under though.

    http://finance.yahoo.com/q/bc?s=%5EDJI&t=my&l=on&z=m&q=l&c=

    more specifically, I think many mortgage lenders will fold. and rightfully so.
  • Bu2
    Bu2 Posts: 1,693
    This is a blip. The market will go up again, and those of us with 401K's who aren't about to retire will be fine in the long run.

    The lenders who were crazy enough to lend to people who can't afford the loans might get hurt, but they shouldn't have been lending to them in the first place. The people who got the loans, they are the ones I feel for. My 401K, I don't feel for. It will bounce back.

    Don't panic, peeps.

    - Bu2, Admin Assistant to the CFO of a Real Estate Investment Trust
    Feels Good Inc.
  • RolandTD20Kdrummer
    RolandTD20Kdrummer Posts: 13,066
    jlew24asu wrote:
    are you blaming bush on the market decline? did you praise him when it hit 14,000 a few months ago?

    wtf? I just posted a funny link. I'm sorry I rocked your love for the guy...
    Progress is not made by everyone joining some new fad,
    and reveling in it's loyalty. It's made by forming coalitions
    over specific principles, goals, and policies.

    http://i36.tinypic.com/66j31x.jpg

    (\__/)
    ( o.O)
    (")_(")
  • Dirtie_Frank
    Dirtie_Frank Posts: 1,348
    If anything this is a great time to buy wiht everything down. You know buy low sell high and i do not mean after smoking a joint.
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  • jlew24asu
    jlew24asu Posts: 10,118
    RolandTD20Kdrummer wrote:
    wtf? I just posted a funny link. I'm sorry I rocked your love for the guy...

    I'm just asking. I didnt know you go around posting funny links of bush jumping from an airplane. or whatever that was.

    that would be called what? trolling?

    I thought maybe it had something to do with the discussion. I guess not.
  • RolandTD20Kdrummer
    RolandTD20Kdrummer Posts: 13,066
    jlew24asu wrote:
    I'm just asking. I didnt know you go around posting funny links of bush jumping from an airplane. or whatever that was.

    that would be called what? trolling?

    I thought maybe it had something to do with the discussion. I guess not.


    Oh sorry I guess I have to appeal to your humor...for it to be funny.
    Progress is not made by everyone joining some new fad,
    and reveling in it's loyalty. It's made by forming coalitions
    over specific principles, goals, and policies.

    http://i36.tinypic.com/66j31x.jpg

    (\__/)
    ( o.O)
    (")_(")
  • jlew24asu
    jlew24asu Posts: 10,118
    Dirtie_Frank wrote:
    If anything this is a great time to buy wiht everything down. You know buy low sell high and i do not mean after smoking a joint.

    atta boy. I agree. when everbody sells, you buy. when everybody buys, you sell.
  • jlew24asu
    jlew24asu Posts: 10,118
    RolandTD20Kdrummer wrote:
    Oh sorry I guess I have to appeal to your humor...for it to be funny.

    I didnt say it wasnt funny. it actually is kinda of funny.

    again, I thought you were trying to add to the discussion, instead of trolling.
  • RolandTD20Kdrummer
    RolandTD20Kdrummer Posts: 13,066
    jlew24asu wrote:
    I didnt say it wasnt funny. it actually is kinda of funny.

    again, I thought you were trying to add to the discussion, instead of trolling.

    Right I got you... I can see how you police this place to your standards.

    Hey please forgive me officer... Maybe I'll PM all my posts to you so you can review them for me from now on.

    Thanks man!
    Progress is not made by everyone joining some new fad,
    and reveling in it's loyalty. It's made by forming coalitions
    over specific principles, goals, and policies.

    http://i36.tinypic.com/66j31x.jpg

    (\__/)
    ( o.O)
    (")_(")
  • jlew24asu
    jlew24asu Posts: 10,118
    RolandTD20Kdrummer wrote:
    Right I got you... I can see how you police this place to your standards.

    Hey please forgive me officer... Maybe I'll PM all my posts to you so you can review them for me from now on.

    Thanks man!

    dude you are the one you called me out for being a troll. dont get mad when you have shit on your face.
  • LikeAnOcean
    LikeAnOcean Posts: 7,718
    Hey kids, no fighting in my thread, ummkay.
  • Bu2
    Bu2 Posts: 1,693
    I think the Bush Falling link is hilarious!!! I'm sending it to all my friends right now!

    I love the way he breathes in and out real fast when he finally lands belly-up on a bubble, lol....

    And Roland is NOT trolling.
    Feels Good Inc.
  • RolandTD20Kdrummer
    RolandTD20Kdrummer Posts: 13,066
    jlew24asu wrote:
    dude you are the one you called me out for being a troll. dont get mad when you have shit on your face.


    dude please find it in your heart to forgive me... do it for the love of this thread if not for me.
    Progress is not made by everyone joining some new fad,
    and reveling in it's loyalty. It's made by forming coalitions
    over specific principles, goals, and policies.

    http://i36.tinypic.com/66j31x.jpg

    (\__/)
    ( o.O)
    (")_(")
  • LikeAnOcean
    LikeAnOcean Posts: 7,718
    If everyone thinks its just a bump, why is Jim Cramer from Mad Money having seizures?

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