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The Second Great Depression - Page 10

world markets drop 5 or 6 % Some 9 all now shoving large sums to banks some countries buying stock in banks that can be bought back out later. I like that idea better then others.

Canada though stirred seems to be weathering so far. Better lending practices of past seem to be helping but job loses are high and will have a big impact still to come.

*Flips tho the last chapter of a black book.*

10 years are up USA pulls same depression slow as always and here again looms a chance to war on pirates. The cycle continues. Consistent policies prove once again constant out comes.

Depression Great The

Yeah I see the stock market is currently down almost 200 points again today. SO I do not think anything is going to help for a while.

The Second Great Depression History & Civil Business Politics

I think the real goal now is just minimizing the effects. On a global scale.

Page 10 Depression Great The

So the conglomerate banks get bailed out... and still the market crashes. So, what was that $700 billion for, anyway? Why, to guarantee that those corrupt, scheming, conspiring men/women will continue to get their fat salaries and bonuses (not to mention AIG spent $440,000 on a spa resort vacation immediately after receiving $85 Billion in government money to stay afloat... and now they are getting *more*! Another $38 Billion this week... and they are not even a bank, but an insurance outfit.). You don't hear anyone demanding any kind of accountability for that, do you? Is the money going to be returned to the general fund now that we know the bailout didn't work after all? "oops, We're Sorry! You can have your cash back..." No way, that's just not going to happen.

This isn't a matter of a "few" banks getting propped up. The world is in a cascading crash of never-before-seen proportions. I don't know how this will affect those of us who aren't even in the stock market or who don't have big deposits in any bank, other than inflation will be bad, and probably a lot of people out of work and homeless. If it affects my boss and his business, it will affect me.

However, having said all that, I don't think it will last more than a couple of years. (I'm pretty optimistic, eh?) What brought us out of the last Great Depression?

World War II. After a decade of economic woe.

Depression Great The

I am with you on that FArSeer. I doubt that what ever happens it is not going to be a long term thing. I believe we will hit bottom and shortly after that everything will be worked out and things will start to improve. It may be a few months at the bottom but it is not going to be years.

The Second Great Depression

I would concur with that and it will be interesting as the bank rates are dropped but then the Canadian banks are eating up half that profit. I am sure for a slush fund to cover bad debt in the future right?

But I would rather see interest rates stable not dropping at all so as to stall inflation rates. Yes I am sure the war machine will kick here as always.

As for the bank bail outs I thought Britain had set it up so that they bought stock in the banks not just handed the moneys over. With the fact that banks in the last few years have been reaping record profits that might be a good thing in the end. As it might help stuff the tax bag rather then just the working stiff.

The Great Depression - Page 10

I think that no matter what happens that it is the tax paper who is going to be paying the most for it. I like Britains idea but I doubt that will happen here in the states. Our government does not look after the tax payer at all. We are just fattened calfs to be led to the alter and slaughtered for their enjoyment.

The Great Depression Politics Business Civil & History - Page 10

Worst Week Ever

Anxiety continued to run wild on Wall Street Friday as the Dow Jones recorded an eighth straight day of losses. It could have been worse -- the market dropped like a stone at the opening bell -- falling beneath 8,000 points -- and rode a rebound rollercoaster that landed 128 points short of its opening mark. President Bush spoke and then met with world leaders to discuss what has become a full-blown global economic crisis. ABC News correspondent Bianna Golodryga walks us through the financial day and week that was and "Nightline" co-anchor Terry Moran picks the brains of several financial experts to find out what you can do to protect yourself.
Ref. ABC Nightline