Are we (US)headed for economic ruin?

gynecologist · Jul 9, 2007

I watched a special on "60 MINUTES" today and the nations top accountant believes the future doesn't look bright for our economy..

http://www.cbsnews.com/sections/60minutes/main3415.shtml

Seems like we have some huge obstacles ahead..

What do you think will need to happen for us to have a stable economy for the future?

This is very serious...

Hitman26 · Jul 9, 2007

Taxes will have to be raised.

Mike63 · Jul 9, 2007

no, they are STUPID!
they dont know politics
Iraqi Oil Law will be passed by their puppet government
that oil will be ours
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
thats what this war is about

WVU · Jul 9, 2007

housing has to become affordable. Right now you have people with 50k incomes trying to balance a 400k mortgage with increasing interest rates.

Timetopay · Jul 9, 2007

Yeah but no sure how we come out of it WVU.

In my area forget about the people who bought at 100% financing. Even the people who put 10 to 20% down are now underwater. They bought a house at 500,000 and its now 400,000. How does it become affordable unless probably half society just lets everything get foreclosed.

bulldogboogers · Jul 9, 2007

unemployment is at 4.6% not bad,oil & gas need to come down,the housing market......well we knew the bubble was going to burst and it has. in 2008 our tax's are going to sky-rocket !!! and last but not least " food" have ya been to the supermarket lately ??? man 100.00 bucks just doesn't buy you much any more !!:lolBIG:

Mr.Smith · Jul 9, 2007

Hitman26 said:
Taxes will have to be raised.

or they can just keep stealing like the neteller case

CookieNBabe · Jul 9, 2007

"What do you think will need to happen for us to have a stable economy for the future?"

Shrink government by roughly 80% in size and scope, and base the dollar on a hard asset instead of a promise.

zeeman · Jul 9, 2007

Mike63,

I disagree with your assumption. This war has cost so much in terms of lives and $. Current government could cares less about the average to lower middle class or poor. Why would they give away gas or make gas more affordable, to make day to day living easier for the average consumer. I don't think so! Mike that's not what this government is about. Bush and Cheney are examples of horder's. All they care about are maintaining and increasing wealth and power, they could give 2 shits about the average to below average consumer. It's all about themselves and their party. The concerns & welfare of their nation are secondary to their own welfare.

nimue77 · Jul 9, 2007

I think i've spotted a fellow Ron Paul supporter!

CookieNBabe said:
"What do you think will need to happen for us to have a stable economy for the future?"

Shrink government by roughly 80% in size and scope, and base the dollar on a hard asset instead of a promise.

Dubpoet · Jul 9, 2007

500 billion wasted in Irag so far!

Pan-handle and cheap food keeps us going. Cross your fingers!

Romanowski · Jul 9, 2007

easy for the economy to seem good when you borrow one billion a day

wake the f- up

PokerKingJim · Jul 9, 2007

Better learn how to farm

Dubpoet · Jul 9, 2007

If the Glogal warming shit hits the fan look for new states to join as in Canada!!!!

bigtendominator · Jul 9, 2007

WVU said:
housing has to become affordable. Right now you have people with 50k incomes trying to balance a 400k mortgage with increasing interest rates.

You are so right. I have no idea how people can afford to live. I tell my wife all the time. Going out to eat is fine, but those are the kinds of expenses that kill americans. Wasting money on going to the movies on a Saturday night $30. $30 for a movie. I am not saying to save every penny, but in the next 20-30 years, the difference between the rich and everyone else is going to be ridiculious.

Dubpoet · Jul 9, 2007

bigtendominator said:
You are so right. I have no idea how people can afford to live. I tell my wife all the time. Going out to eat is fine, but those are the kinds of expenses that kill americans. Wasting money on going to the movies on a Saturday night $30. $30 for a movie. I am not saying to save every penny, but in the next 20-30 years, the difference between the rich and everyone else is going to be ridiculious.

A deck or party finished basement is the answer. Tell everyone to come to your place with a bottle of wine or beers or a big dish of pasta. Your home is supposed to be nice enough to keep you from going out and paying retail.

A nice TV pays off too.

And keep the Kids to 2 maxx!!!

levistep · Jul 9, 2007

CookieNBabe said:
"What do you think will need to happen for us to have a stable economy for the future?"

Shrink government by roughly 80% in size and scope, and base the dollar on a hard asset instead of a promise.

I agree with Dawoofdaddy.

Romanowski · Jul 9, 2007

moving to a gold standard is not a good idea

for more then one reason

but the biggest reason not to is the IMF/World Bank already holds reportedly 70% of the world gold anyway

lol

Are we (US)headed for economic ruin?

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Give BB 2.5k he makes it 20k within 3 months 99out

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