Recession

[JacktheRipper]

I know no one on here follows the stock market and economy, but there is some bad waters ahead. I'm bringing this up, one because I want people to talk to about this, and secondly well to keep the masses informed.

So, uh, I'll post more later. The asshole next door to me gave me the flu and well, I feel like ass.

[Keeper]

All these economic stimulus plans are horrendus, I am of the opinion that it's something we need to let run its course.

[JacktheRipper]

keepereusc said:

All these economic stimulus plans are horrendus, I am of the opinion that it's something we need to let run its course.

Very true. It's not like the Fed is just giving money away, they give away money in the form of short term loans banks have to pay back. I dunno about you, but that little interest thing is going to burn the already weak balance sheets of the banks. We should have taken our medicine in September, but no the Fed had to step in. We should have taken it Tuesday, and it a very big way (down 1,000 on the Dow was possible) but the Fed steps in again. They are filling a bubble with more hot air, and it's going to burst.

There will be no recovery in the housing market this year and with inflationary pressures and our credit crunch, layoffs are sure to start. That my friends will cause more defaults on mortages. Not what we need to quell this problem. Things are probably going to get worse and could get much worse. I hope we recover, I really do, but I doubt it. I'm expecting at least another 10% downside on the Dow. I've seen some people talking a 40% drop in the stock market. Asia and Europe have shown signs of this coming.

Oh and anyone calling a bottom today is crazy. I haven't seen anyone panic yet, besides maybe the Federal Reserve. I have not seen a single sign of a true bottom yet. We might have seen a techincal bottom today, but trust me, the bloodbath is yet to come.

Have a great day!

[dkgojackets]

just leave it be, the market goes in cycles

[dkgojackets]

However, if the gov wants to give me a lot of free money to spend in order to boost the market, I wont disagree.

[JacktheRipper]

david said:

However, if the gov wants to give me a lot of free money to spend in order to boost the market, I wont disagree.

Gotta love socialism...

[Bearsbacker]

Flat Tax Plan!!!! FTW

[Keeper]

I have to love living in one of the few places in the states where it's okay to identify yourself as a socialist.

[dkgojackets]

buffsbacker said:

Flat Tax Plan!!!! FTW

I support just having a really high nationwide sales tax.

[JacktheRipper]

david said:

buffsbacker said:

Flat Tax Plan!!!! FTW

I support just having a really high nationwide sales tax.

Hurts the poor too much. Yes I'm a dirty capitalist, but I can understand how this would hurt working class families. I personally like the progressive system we have in place now, though I want taxes lower across the board. I could live with a flat tax though. Feels fair, but 35% of 40,000 hurts a lot more than 35% of 400,000.

Oh and this stimulus package is a joke. This is why I hate our government. Buy a house that you can't afford, pick up a massive mortgage with a huge interest rate and have the government bail you out of your bad decision. What the F?

[Bearsbacker]

The flat tax system proposed allows people who make under $25,000 to not pay taxes. This system drops the notion of "favoring the rich" and makes it equal and drops the 15 ton current tax code.

It's gaining steam in congress ... and it really is fair across the board.

[JacktheRipper]

buffsbacker said:

The flat tax system proposed allows people who make under $25,000 to not pay taxes. This system drops the notion of "favoring the rich" and makes it equal and drops the 15 ton current tax code.

It's gaining steam in congress ... and it really is fair across the board.

If that is the case, I am in full favor of it.

[Bearsbacker]

Read Flat Tax Revolution by Steve Forbes .... worth the read my friend!