Recession 2.0
Posted: Tue Sep 15, 2009 5:19 am
http://www.ft.com/cms/s/0/e6dd31f0-a133 ... abdc0.html
To summarize this article: a leading mainstream economist, (William White) who predicted in 2003 the economic crisis, is now saying we are in a W shaped graph. When asked if we are in a L shaped graph he basically said, I don't know but I wouldn't be surprised. He also says that none of the gov't. fixes actually solved any of the problems that caused the economic meltdown in the first place.
So basically we're in for a roller-coaster ride. Up and down, up and down.
So in your opinion how screwed are we?
Personally, I stand to lose nothing cause I literally own nothing that could be affected by the economy collapsing. In fact if I graduate early I probably stand to gain from all the plummeting prices of items.
But, all this doomsday talk has me wondering if anyone is actually doing something. I have heard of people buying pallets of ammunition for their weapons. While others have also purchased anywhere from a 30 day to a 6 month supply of food.
I haven't done anything like that but I don't think it would ever be necessary in the USA. I think elsewhere it might be a good idea to do that.
I have also heard reports that our nations supply of food (in case of a famine) is actually much lower then most people think and wouldn't last nearly long enough. But considering that we have the capability to switch to an overproduction of food in one season, I don't see it being a problem.
Anyway, I'd love to hear peoples thoughts and comments.
To summarize this article: a leading mainstream economist, (William White) who predicted in 2003 the economic crisis, is now saying we are in a W shaped graph. When asked if we are in a L shaped graph he basically said, I don't know but I wouldn't be surprised. He also says that none of the gov't. fixes actually solved any of the problems that caused the economic meltdown in the first place.
So basically we're in for a roller-coaster ride. Up and down, up and down.
So in your opinion how screwed are we?
Personally, I stand to lose nothing cause I literally own nothing that could be affected by the economy collapsing. In fact if I graduate early I probably stand to gain from all the plummeting prices of items.
But, all this doomsday talk has me wondering if anyone is actually doing something. I have heard of people buying pallets of ammunition for their weapons. While others have also purchased anywhere from a 30 day to a 6 month supply of food.
I haven't done anything like that but I don't think it would ever be necessary in the USA. I think elsewhere it might be a good idea to do that.
I have also heard reports that our nations supply of food (in case of a famine) is actually much lower then most people think and wouldn't last nearly long enough. But considering that we have the capability to switch to an overproduction of food in one season, I don't see it being a problem.
Anyway, I'd love to hear peoples thoughts and comments.