Recession, Depression......Worse?

[marmar]

Thom Hartmann had economist Ravi Batra on today, and his prediction for the next year or so was pretty bleak - he expects the country to slide into economic chaos.
I had been pretty sure that there would be at the minimum a recession, but now I'm convinced it's going to be a lot uglier than that. What do you think?

[Buzz Clik]

1. The only thing worse than a recession is a poll about a recession.

(I really hate polls)

[marmar]

4. Well tell that person who held your hand to the keyboard and forced you to respond....

not to do that again! :eyes:

[KoKo]

2. We all need to PREPARE! It's going to be worse than most younger than 50 think

and be aware that the Depression Babies can get you through it... There are many here... We will need to be guided since many in our families aren't going to know what to do.

[yourout]

3. The Pukes can't afford an econimic collapse this year so.....

they will do everything possible to push it onto the next president which will hopefully be a Dem.

[Wcross]

16. What makes you think they can stop it? n/t

[yourout]

17. I am not sure they will be able to but they will sure as hell try.

I am trying to prepare for a shitstorm of financial problems come Jan 2008.

[DaveJ]

5. Not sure but....

But I will say that I'm a little confused by the continuing proclamations of doomsday from Dems, even after their people have been elected, and all signs lead to more Democratic leadership after next election. When I get on the DU I feel like I'm immersed in bell ringers wandering around wearing "end of the world" signs on their bodies. If the economy "collapses" so what. The U.S. can only be destroyed from within.

[peacebird]

9. Will any of the Pres Dems Nominees promise to restore the Constitution?

They have already stated that the war in Iraq is going to continue (except Kucinich). They have already said that no option is off the table for Iran.
They haven't taken action to stop torture or Gitmo.

Face it - the US has already been destroyed from within... Under gwb the US considers any "extreme interrogation method" legal as long as it doens't result in organ failure of death. And even when death occurs they claim a pre-existing cardiac condition (I'm thinking of the man stuffed into a sleeping bag face first and then say upon by his interogators, who died with a "smile" on his face.)

In order to reclaim America the Dem Noms for Pres need to SWEAR that they will allow investigations and trials at the Hague for bush and his accomplices.

[DaveJ]

15. "the US has already been destroyed from within"

Really? That was really painless for me. Not nearly what I imagined. Probably no worse that what a kid feels when their cell phone is taken away.

I guess I might as well not bother voting anymore, doomsday has already happened and all. There's no point. I'll just search the local lumber yard for a sign I can strap to myself now.

Edit:

:sarcasm:

[mod mom]

6. Here's a scary email I received tonight:

The Prophet of Climate Change: James Lovelock
One of the most eminent scientists of our time says that global warming is irreversible — and that more than 6 billion people will perish by the end of the century

JEFF GOODELL

Posted Oct 17, 2007 2:20 PM


http://www.rollingstone.com/politics/story/16956300/the_prophet_of_climate_change_james_lovelock/print

:scared:

[Lorien]

11. Yep, that's really depressing

I often wish that I had children...until I read stuff like that. Then I'm thankful that I don't. :-(

[mod mom]

20. Since I do (9 & 11) I feel responsible for their future and is the reason why I

am SO ADAMENT in my opposition to Senator Clinton as president.

Please Al Gore RUN!

[Lorien]

22. I hear you. I feel the same way

I keep praying that Al will run, though a little hope slips away with every day that passes. Even though I don't have kids I feel that it is my responsibility as a human being to fight for the future of our planet and all the living things that call it home!

[marmar]

12. Yikes!!!

:scared:

I need a SoCo with lime after reading that one.

[IntravenousDemilo]

18. To be fair, though...

The end of the century won't be happening until 31 December 2100, which is over 93 years away. I'm sure at least 6 billion of the 6.6 billion people living today probably won't be around then no matter what happens.

[LondonReign2]

23. Wait, there are more than 6 billion people now

I agree, almost all of them will be dead before the end of the century.

[nightrider767]

7. I Voted A.

As long as the New World Order is allowed to manipulate key economic indicators and the Federal Reserve, we can expect to see this economy move along ok.

But make no mistake about it, the system is rotten from within. Once the Dem's take over, this house of cards will probably come tumbling down.....

[Lorien]

8. The situation is right for a ressession or depression, but the MSM will call

it a "surging economy" with "some of the lowest unemployments rates in history"!! ...right up until a Democrat enters the White House, THEN they'll tell us the truth!

[Rhiannon12866]

10. My financial guy has been wonderful to me, but he's also a Bush* supporter.

I would change, and have been urged to do so, but he has always been great to me, and was originally hired by my father, and I don't know what I would have done without him, especially when I lost my job. But he refers to what's happening as "a correction." I just don't buy that and voted for #3, though he says that I've been doing okay. I think it's going to get worse, much worse. My DU friend, who is an economist, is sure that her young daughter is going to be saddled with our enormous debt and I can't imagine that it will be otherwise for generations to come. Clinton fixed it and Bush* broke it, big time...:-(

[tritsofme]

13. The gold bugs and the bad news bears have been predicting an economic disaster

of epic proportions some time in the next six months for the past seven years or so.

Needless to say, it hasn't happened.

A recession in the next year or so wouldn't be that surprising, it has been over six years since the last recession ended.

But I'm not going to fall into some chicken little trap and believe that the sky is falling.

[StrongBad]

14. Little more than a recession

And right now there's only a 50% chance of that.

[MrSlayer]

19. LaRouche has been predicting this as well.

Are we to believe him too? Things are looking great in my industry and there seems to be no end to it in sight for at least five years. I see no depression or worse coming anytime soon.

[Manifestor_of_Light]

21. Ravi Batra is brilliant. His books are understandable.

He teaches at SMU. I have read his book "The Great Depression of 1990".

I believe the depression he talked about in that book was averted by Bill Clinton, but it was made worse by the passage of NAFTA, and that the infusions of money by the Fed have postponed the depression. I think time is running out because they've destroyed the middle class by refusing to finance good jobs and raises for the educated middle class, and we've all been canned numerous times, starting in the 1990s.

He also has made some very accurate predictions about world history. And he takes many factors into account and realizes that the government lies to us as far as unemployment and inflation stats.