The second great depression...
-
I actually remembered you typing that line 2 years ago.....all I did was search for "Booming" by an author named "torbs"....found it in like 10 seconds.
-
lol that email thing was funny
here a psht, there psht, everywhere a psht psht
PVC SQUAD MEMBER #2- 95 CIVIC EX- DD 320whp on a mustang dyno
-
darkelvis;238050 wrote:
The largest bank failure in united states history just happend...http://news.yahoo.com/s/nm/20080926/ts_nm/us_washingtonmutual_jpmorgan_news
"Washington Mutual Inc was closed by the U.S. government in by far the largest failure of a U.S. bank, and its banking assets were sold to JPMorgan Chase & Co for $1.9 billion. "
"Washington Mutual has about $307 billion of assets and $188 billion of deposits, regulators said."
the economy will be fine my ass....
discuss.
According to a few of my friends (who are accountants and one is an economist)
This may have actually helped divert a depression. The rest is up to congress. They NEED to get a bailout package together or honestly, your ATM/Credit Cards will not work in a few days. They need to set up regulation (again) to ensure this doesn't happen again along with the bailout. From my sources, there is a 10% chance Washington will actually make money on this bailout and in a worst case scenario, would really only stand to lose about 3 to 6 billion in the long term.
Credit will become incredibly hard to get going forward with only qualified people getting decent rates on anything.
Credit cards will have realistic limits on them again and their interest rates will likely be 15%+ for most people.
Cars will cost 10% to finance.
Home mortgages will be in the 8 to 9% range as well.
Savings accounts will actually pay 4 to 5% interest or more, encouraging saving instead of spending.
I'm guessing we will see things go to about where they were in the early 80's when Reagan first took office.
Hopefully we can get the gov't to follow suit and stop deficit spending as that will be needed to strengthen the US dollar again.
If the congress cannot get this figured out and work out a deal, I hope you all like soup and don't mind standing in line to get it.....
-
extended canada trip anyone?
here a psht, there psht, everywhere a psht psht
PVC SQUAD MEMBER #2- 95 CIVIC EX- DD 320whp on a mustang dyno
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
Register Login