Community > Politics, Current News & Events

Topic: Wonder Why We're in a Recession
Totage Joined Sat 10/13/07 Posts: 24210	Fri 02/01/08 11:29 PM
One of the huge reasons too is because in America every moron can take out a loan, which he/she will probably never be able to pay off. And that is encouraged by the banks and Federal Reserve. That is because debt is a huge money maker for banks. Up until the people can no longer pay it. It is a vicious cycle. More people start having trouble, start defaulting, file for bankruptcy, interest rates go up, then even more people have trouble. Seems like a bad thing in the long run, or do all businesses and financial institutions just think in the short term. Get as much as possible from people now, since we might not be able to later. yeah, they don't care about the future, as long as they can make money now.

firecracker666 Joined Wed 01/09/08 Posts: 11	Fri 02/01/08 11:48 PM
And this is one of the reasons we are in a recession...Exxon Making $40.6 Billion Profit for the year. Thanks to BUSH and all his OIL buddies. There is no excuse for a company to show that much of a profit. I was fumming after I read this. Here is alink to the story. Just copy and past this in your address bar. http://news.yahoo.com/s/ap/20080201/ap_on_bi_ge/earns_exxon_mobil first of all, we arent technically in a recession yet. official definition of a recession is 2 consecutive quarters or 0 or negative GDP growth. we've only had one quarter, so we wont know if we are truly in a recession till the end of this quarter. the media just likes the sound of recession- it sells more papers, ya know? also, the reason the oil and gas companies show so much profit at the end of the year is because the companies havent bought the oil for the following year yet. oil prices are based on expectations of prices in the future, so if gas is $3 now but expected to be $3.50 in the future, the companies have to charge extra for gas now so they will be able to buy enough in the future.

toastedoranges Joined Thu 01/03/08 Posts: 11042	Fri 02/01/08 11:54 PM
i just wonder how in the world the oil industry's profit is responsible for the whole country going downhill...

aaronlyric Joined Tue 01/15/08 Posts: 193	Sat 02/02/08 02:01 AM
the oil' industries' profit are one of the many results of globalism, rich get richer and the poor starve..although the process does seem to have an exponential factor driving it now.

leahmarie Joined Fri 12/28/07 Posts: 1482	Sat 02/02/08 02:08 AM
One of the huge reasons too is because in America every moron can take out a loan, which he/she will probably never be able to pay off. Robert ..... You made a good point. In that respect, particularly in the field of mortgages, in Chicago there are so many people defaulting on their loans/mortgages, that the City of Chicago is suing the banks who lent the people the money. The City feels the banks in question set the people up so that they would default on their loans/mortgages, because as you so aptly put it, the banks lent money to "every moron" who came along.

toastedoranges Joined Thu 01/03/08 Posts: 11042	Sat 02/02/08 02:12 AM
Robert ..... You made a good point. In that respect, particularly in the field of mortgages, in Chicago there are so many people defaulting on their loans/mortgages, that the City of Chicago is suing the banks who lent the people the money. The City feels the banks in question set the people up so that they would default on their loans/mortgages, because as you so aptly put it, the banks lent money to "every moron" who came along. how do you feel about this? i don't think it's right. never sign anything without fully understanding it or you'll face consequences

aaronlyric Joined Tue 01/15/08 Posts: 193	Sat 02/02/08 02:16 AM
for the rich 1% to keep getting richer, and the poor to not use what strength and resources they have left for change, the bilderberg group(The International Bankers/Monopoly men/illuminati) would have to keep us distracted,scared and at times sedated. like that could happen

Starsailor2851 Joined Mon 07/02/07 Posts: 1430	Sat 02/02/08 01:12 PM Edited by Starsailor2851 on Sat 02/02/08 01:13 PM
When OPEC increases the price of a barrel of oil OF COURSE the oil companies are going to get record profits! How dense do you have to be to have that go over your head? Who hires the working class and poor by the way? Poor uneducated people? Punish them for supplying jobs to the entire working class with higher taxation and what are you going to cause? Lower wages and high unemployment. And, thus who would the layoffs and lower wages hurt? The wealthy? Nope, the working and poor classes. Think people, it isn't hard.

smo Joined Sat 04/07/07 Posts: 496	Sat 02/02/08 01:54 PM
Hey, Recessions don't just happen,THEY ARE CAUSED, just like 1929 the (not) federal (no) reserve (non) Banking system regulates the value of your money up and down until no body has anything,only them.If we had our rightful money system according to the Constitution , there would never be inflation and deflation. A dollar would be worth the same forever,(there would be no recessions) I know it might seem hard to believe ,but it is true. the federal reserve GANG are the Criminals(the banking system)(it is a totally private money system ,doesn't seem to answer to anyone.)I hear they never allow themselves to be audited.(interesting isn't it?) They always seem to put a flunky like greenspan near our govt to make it look they are our buddies, but don't be fooled by that. they are ruthless crooks, draining you last drop of blood out. And I did notice that some thought the economy was just fine. Now, JUST by chance ,if you were one of those , just maybe you are some kind of parasite govt employees(probably 50 % on govt payroll in some form or other.)(those are non productive type jobs) who vote yourself raises as the rest of us starve. I don't try to hate anyone ,but I want us to be realistic about that because as soon as the host dies ,then the stupid parasite will die too. REMEMBER: More govt--less freedom and LESS Govt--more freedom!!!The private federal reserve system (of 1913)is Probably the greatest CRIME against HUMANKIND in the history of this Planet. ENRON is just SMALL POTATOES compared to these CRIMINALS. By the way ,I heard that the federal reserve act was passed during Christmas Vacation by about 3 men while Congress was out of session. I wonder how they did that? I don't think the federal reserve act was ever passed and is a FRAUD(unConstitutional) I also question if we have ever had a legitimate SENATE in CONGRESS EVER SINCE the 1913 FRAUD??SINCE??? this federal reserve thing needs to be straightened out, this will save our Country!!!

symbelmyne Joined Mon 01/14/08 Posts: 5356	Sat 02/02/08 03:28 PM
When OPEC increases the price of a barrel of oil OF COURSE the oil companies are going to get record profits! How dense do you have to be to have that go over your head? Who hires the working class and poor by the way? Poor uneducated people? Punish them for supplying jobs to the entire working class with higher taxation and what are you going to cause? Lower wages and high unemployment. And, thus who would the layoffs and lower wages hurt? The wealthy? Nope, the working and poor classes. Think people, it isn't hard. Im your number one fan! I just love reading the crap that comes out of you...it never ceases to amaze me!!!!!!

ddn122 Joined Mon 11/05/07 Posts: 12855	Sat 02/02/08 03:29 PM
Recession? I can't get a parking space at Walmart!!

curios789 Joined Mon 12/03/07 Posts: 3156	Sat 02/02/08 03:30 PM
When OPEC increases the price of a barrel of oil OF COURSE the oil companies are going to get record profits! How dense do you have to be to have that go over your head? Who hires the working class and poor by the way? Poor uneducated people? Punish them for supplying jobs to the entire working class with higher taxation and what are you going to cause? Lower wages and high unemployment. And, thus who would the layoffs and lower wages hurt? The wealthy? Nope, the working and poor classes. Think people, it isn't hard. Im your number one fan! I just love reading the crap that comes out of you...it never ceases to amaze me!!!!!! Hahaha! Symbel, I think you have a close second there.

daniel48706 Joined Fri 03/16/07 Posts: 8566	Sat 02/02/08 03:43 PM
look at history folks, and pay attention. The American finances are set up in a way that a recession will happen every so many approximate years. There is nothing that can be done to avoid a recession other than change the way things are done in the financial arena. And by this I do not mean stop big name companies from making money; or stop big name personnel from making money. It is the way we are set up to do business and finances that is messed up. Our last recession was approximately 70 - 80 years ago. As we came out of that recession, people began making more money again. then companies started making profit after profit, and so everything started increasing to the point that we began depriving our citizens of their basic needs for financial security and well-being. And once so many people have been deprived, then businesses start to fail again, cause the consumer can not afford to support the business. As businesses fail, people lose their jobs. As the newly unemployed lose their jobs, they top supporting the bigger companies because they have less money. And eventually, crash we are in a recession. I personally do not know what would prevent this from happening, although I have ideas, but until something is done to break the circle of events, then we are going to have a major depression every so many years. It is not because of who is in the white house at the time a depression hits. It is not because of actions that they have taken that we have fallen into a depression. Yes their actions/inactions may have HELPED bring it sooner, but it (the depression) was on its way already.

madisonman Joined Sun 12/23/07 Posts: 4573	Sat 02/02/08 05:08 PM
dont forget good people the dollar has lost about 30% of its value over the past several years that is one reasone why oil that is traded in dollars has become so expensive. there is little debate on the stagnant wages in this country while the rich grow ever richer the middle class becomes poorer and poorer. america is well on its way to becomeing the largest banna republic in the world.

littleredhen Joined Sat 01/12/08 Posts: 6837	Sat 02/02/08 05:18 PM
for the rich 1% to keep getting richer, and the poor to not use what strength and resources they have left for change, the bilderberg group(The International Bankers/Monopoly men/illuminati) would have to keep us distracted,scared and at times sedated. like that could happen Distracted - non news like Britney Spears & pro sports Scared - war on terrorism Sedated - alcohol & perscriptions for anti depressants it's working quite well

lemondropkid2008 Joined Sat 01/19/08 Posts: 282	Sat 02/02/08 05:27 PM
So Exxon made $40 billion in profit last year with the average price of gas at I don't know for sure but lets say $3.00 per galloon. So if they was to cut the price of gas in half to $1.50 a galloon they would have made a $20 billion profit...So the average gas tank will hold lets say 15 gallloons. So that is $45.00 to fill up and lets say you fill up once a week. So with gas cut in half you would have saved $22.50 a week times 4 weeks means you would have saved $90.00 a month. So you would have saved $1,080.00 a year. You would have saved and the big oil companys would still have made a profit.

toastedoranges Joined Thu 01/03/08 Posts: 11042	Sat 02/02/08 05:47 PM
So Exxon made $40 billion in profit last year with the average price of gas at I don't know for sure but lets say $3.00 per galloon. So if they was to cut the price of gas in half to $1.50 a galloon they would have made a $20 billion profit...So the average gas tank will hold lets say 15 gallloons. So that is $45.00 to fill up and lets say you fill up once a week. So with gas cut in half you would have saved $22.50 a week times 4 weeks means you would have saved $90.00 a month. So you would have saved $1,080.00 a year. You would have saved and the big oil companys would still have made a profit. but that has little to nothing to do with our failing economy

madisonman Joined Sun 12/23/07 Posts: 4573	Sat 02/02/08 06:04 PM
So Exxon made $40 billion in profit last year with the average price of gas at I don't know for sure but lets say $3.00 per galloon. So if they was to cut the price of gas in half to $1.50 a galloon they would have made a $20 billion profit...So the average gas tank will hold lets say 15 gallloons. So that is $45.00 to fill up and lets say you fill up once a week. So with gas cut in half you would have saved $22.50 a week times 4 weeks means you would have saved $90.00 a month. So you would have saved $1,080.00 a year. You would have saved and the big oil companys would still have made a profit. it does make sence that if people had a few extra bucks in there pocket they would spend more on other things.

aaronlyric Joined Tue 01/15/08 Posts: 193	Sat 02/02/08 09:44 PM
we could start practicing more self-sufficient ways so if the economy's down, we'll already be up and comfy. sell a car, buy a bike..be in shape when you will have to be. sell a tv, buy a solar panel...have free electricity and a freer mind. sell a suburban house, live off the grid. not for everyone's current taste, but like anything you could learn to love it. easier to love it when it comes than to start tryin to broaden the standards after the fact.

YourNameIsEverywhere Joined Tue 08/28/07 Posts: 24	Sat 02/02/08 10:47 PM
So Exxon made $40 billion in profit last year with the average price of gas at I don't know for sure but lets say $3.00 per galloon. So if they was to cut the price of gas in half to $1.50 a galloon they would have made a $20 billion profit...So the average gas tank will hold lets say 15 gallloons. So that is $45.00 to fill up and lets say you fill up once a week. So with gas cut in half you would have saved $22.50 a week times 4 weeks means you would have saved $90.00 a month. So you would have saved $1,080.00 a year. You would have saved and the big oil companys would still have made a profit. That math only works if every penny of that three dollar is pure profit. It would actually look something more like this (these numbers are just made up, but I think it gets the idea across): $3.00 paid at pump by consumer. $0.10 was profit for the gas station your bought it at. $0.50 went to local & state taxes. $0.50 went to federal taxes. $0.50 went to distribution costs. $1.00 covered the operating costs of the "big oil" companies. That leaves $0.40 in profit (I suspect it's less than that), per gallon of gas pumped. So, using these numbers, paying 20 cents less at the pump would cut profit in half.