The economy: How bad is it now? How bad will it get?

[c.r.e.a.m.]

^ same with me. i was also unsure about grad school, but now we are in a time where an associate's degree can be found in a cheerios box. a bachelor's degree isn't enough either. so now im going to have to start looking into a master's. hopefully i can find a job or internship where they pay or help to pay for grad school. also, my international economics class should be interesting this next semester. i wonder what they'll teach us now that the economy has gone to shit?

[artificialsky]

i wonder what they'll teach us now that the economy has gone to shit?

probably that you need a doctorate.

[ProfMonnitoff]

peter schiff is a broken clock

[Thorns]

how can this guy say on one hand that interventionist government policies in the early aughts created this current crisis while simultaneously saying another part of the problem is that those in "the market" spent and lent too much?

I think I already covered this a couple months ago in the supereconomics thread, but the lending crisis was directly caused by government interference. They forced an undervaluation of risk. The government did the same thing in the 20s to usher in the depression. Alas... those who do not study history...

[artificialsky]

I think I already covered this a couple months ago in the supereconomics thread, but the lending crisis was directly caused by government interference. They forced an undervaluation of risk. The government did the same thing in the 20s to usher in the depression. Alas... those who do not study history...

It's quite a thing for the same millionaires and billionaires who were trying to double down with other people's money and bet wrong to be saying now that the government made them do it.

Wall Street is like a guy who goes out into the middle of a playground and starts firing a pistol in random directions. If he kills any kids, well, it's not his fault, they just happened to be in the path of the bullet. If they didn't want to get shot by a rampaging lunatic they shouldn't have been at the playground in the first place.

[Francis Xavier]

It's quite a thing for the same millionaires and billionaires who were trying to double down with other people's money and bet wrong to be saying now that the government made them do it.

Wall Street is like a guy who goes out into the middle of a playground and starts firing a pistol in random directions. If he kills any kids, well, it's not his fault, they just happened to be in the path of the bullet. If they didn't want to get shot by a rampaging lunatic they shouldn't have been at the playground in the first place.

We speak of gold and you've made an intelligent post.

This makes me realize what truly defines value: Rarity.

[AstroWolf]

i dont know shit about the crisis, and its depressing enough to me im not chasing info in a active way. i ran away to the EU six years ago and dont have to really worry about losing my job right now, i am VERY lucky in that sense.

But that being said, what i do know, i honestly believe that this is all COMPLETELY planned chaos. people are working on a 100 year plan here, to think its a mistake, or mismanagement is completely and utterly naive.

[Eccles]

COMPLETELY planned

[horriblyjollyjinx]

The Cult of the Presidency: America's Dangerous Devotion to Executive Power

http://www.amazon.com/Cult-Presidency-Americas-Dangerous-Executive/dp/1933995157

[horriblyjollyjinx]

gold is backed by paper too

i know what you mean though

i just drop into this anti-gold argumentation every time i hear gold mentioned because i know some dudes who are completely convinced that the us should use the gold standard again

how is gold backed by paper? gold has real, intrinsic(well, not exactly, but almost) value whereas money is only a symbol for value, and it will only be valueable as long as the state dictates that it is.

gold does not derive its value from anything related to politics and has retained its value very well the last 50-100 years, unlike any fiat currency.

[Leonard Leroy]

yo, what they be studying. print media?

LOL

Graphic design, freelance. Were working five days a week, cut down to two.

[horriblyjollyjinx]

value = perception. Even the value of gold and silver is perceived. Gold is worth exactly what someone is willing to trade for it.

It's not exactly a relevant critique of gold since this for every good in existence.

What makes gold unique is that it has been sought after through all times and that there is a finite amount of it, and most of it is estimated to have been found already, so it is a great storage of value.