Have You Ever Seen A Crash Coming?
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banks are failing in europe as well. ours is sort of dragging theirs down too. it won't be so bad though. there's just too many people working holding everything together.
Thread Starter
Super Moderator
Joined: Sep 2001
Posts: 10,795
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From: Pflugerville, TX
Vehicle: 2000 Elantra
?
The world's consumers (private, corporate, and government) lent and borrowed too much money. 30:1 and 50:1 leverage = too much. Fannie, Freddy, and Uncle Sugar were the worst (150:1). The housing bubble bursting pushed us over the brink in to a world wide recession, maybe depression.
Latest auto industry news: Volvo isn't selling any trucks, and my crystal ball tells me they are not alone. This is going to be ugly, and the current flailing by the "federal" reserve is going to turn it into a long, drawn-out suck-fest, vs. the very deep, sharp, short recession it would be if the capitalists were allowed to be capitalists.
The world's consumers (private, corporate, and government) lent and borrowed too much money. 30:1 and 50:1 leverage = too much. Fannie, Freddy, and Uncle Sugar were the worst (150:1). The housing bubble bursting pushed us over the brink in to a world wide recession, maybe depression.
Latest auto industry news: Volvo isn't selling any trucks, and my crystal ball tells me they are not alone. This is going to be ugly, and the current flailing by the "federal" reserve is going to turn it into a long, drawn-out suck-fest, vs. the very deep, sharp, short recession it would be if the capitalists were allowed to be capitalists.
Thread Starter
Super Moderator
Joined: Sep 2001
Posts: 10,795
Likes: 5
From: Pflugerville, TX
Vehicle: 2000 Elantra