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[katoranger]

Compare the real numbers today to what it was in the late seventies. This is nothing.

Allen

[chinariderinthesky]

im still wearing my tin-helmet! i don't trust "uncle tom" anymore...

[olddude]

Katoranger I don`t were you get your facts but you need to find another
sorce Im 66 yaers old im retired in 1978 I told my boss to stick his job were the sun don`t shine walked out 11am I had 3 offers for a job by 4pm I drove
a truck for a living inflation was bad all over the world at the time
because the opec oil embargo but the job market was good at the time
in march of 1979 i changed jobs again I went to work for ABF fright systems they could not hire enough drivers Ilive in central pennsylvania
the company had to advertise from new england th mississipi to arkansas
the economy was that good until 81 or 82 that was the first time the company
laid any body off in it`s history quit watching fox news go to the libray
and get a world almanac and check the facts.

[SpeedSouth]

Originally Posted by suprf1y

Don't forget the tinfoil hat, too :P

The recession is exactly that.
In the big picture, its a hiccup in the economy, like every other recession. Trying to paint it as something its not, is a favourite pastime of the mainstream media.

I understand, and for the most part agree with, what you're saying about the media. They do love to sensationalize a story, and they are quick to focus attention in places that aren't deserving (ANS, anyone?)

Unfortunately, we can't just blow off everything they report as over-hyped. Sure, the boy cried wolf and tricked people until they failed to believe him when a wolf really arrived. So what about us? Do we ignore the wolf because of the media hype in the past? I think not. The wolf is real. This isn't something exclusive to the US. Markets all over the world are in trouble. Banks all over the world are in trouble.

I surely don't remember (reading or hearing about) that in the 70's.


I don't trust any single source of information. When the same information is provided pretty much the world over...I tend to belive it's fairly accurate.


Take the original subject of this thread as an example. The media hype is that marijuana is one of the worst drugs in the world...but if you look elsewhere in the world, it's easy to see that THAT is hype. Global warming, on the other hand...not so much.

It's one thing to be skeptical and desire proof. It's something else to ignore the obvious. Crying wolf is the job of the media. Our job is to filter the truth from the hype, but not ignore them entirely and dismiss everything they report.

Well, unless it's Fox News...lol...it's pretty safe to ignore them entirely IMO. 8O

[VinceDrake]

You know, the quickest way to start a recession is to talk about one.

--Vince

[warrior91]

I thought the 70's were awsome...it wasn't till the early 80's that the interest rates went retarded and bankrupted a lot of folks...if memory serves me correct.

[suprf1y]

Unfortunately, we can't just blow off everything they report as over-hyped.

You're right, but its getting harder, and harder all the time to tell whats real, and whats hyperbole.
I try hard to avoid hearing/seeing any of it, but when I do, I tend to default toward not believing much of it.
Its working for me so far :P

[Alaskan-Dad]

You have to understand the Fed !

The Federal Reserve was created in 1913-1914 in order to bring stability to the economy and yet almost every major crash, including the great depression, can be attributed to the Federal Reserve.

We are going to take a look at the history of the Fed and what prominent historical figures have said about the organisation.

Firstly, from 1837-1862 there was a system of national banks in the USA but then in 1913-1914 a consortium of 12 privately held banks got together and formed the Federal Reserve Bank, an entity that is not part of the US government. These banks then purchased notes from the US Mint for printing costs and lent them out through member banks charging interest.

The Federal Reserve came into being after its supporters paid for the Presidential campaign of US President Woodrow Wilson. Wilson signed the bill that transferred the US currency to twelve regional private banks Wilson regretted his decision later saying:

“I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.”

In 1933 President Roosevelt confiscated citizens gold and handed it to the Federal Reserve. At the very moment when Americans have needed to protect their wealth the most, the best store of wealth ever created, gold, was confiscated from American citizens and given to a un-elected conglomerate of private banks.

Read more

[katoranger]

The fairtax may not work for everyone, but the fast majority would benefit and especially those who spend wisely.

Also it seems that the interest rates were the highest at the end of the carter years. 1978-1980 Started rising when he was in office. After Reagan took office they remained high for a couple years (1981-1982) then started dropping after his recovery strategies took effect.

http://research.stlouisfed.org/fred2/data/PRIME.txt

The trucking industry along with some others don't tend be affected as much with recessions. Oil prices do hurt truckers, but also every one as we can't operate without oil.

Media sensation has everyone uptight. I am not disagreeing to an economic slowdown, but this is not the great depression. I also don't follow Fox News. They still sensationalized too.

The proven way to bring back the economy is with tax cuts to the people and the business.

This has worked in Ireland and Great Britain. The proved the Socialized everything does not work. Eventually the money runs out.

Allen

[suprf1y]

IMO, these 'strategies' are window dressing to appease the media driven public.
Recessions are inevitable, as is their recoveries.
Time is the real solution, although the perception that gov. is doing something never hurts.

[katoranger]

Supefly. I agreed. My plan is to just wait it out. Like most people, my finances are tight, my investments have tanked, can't sell my house, but I comfortable that I will still have a job. (cushy fed employee).

Obama may just prove himself to be a good president. He just isn't off to a good start in my book.

Will have to invest in my loctite and duct tape to keep my rides going.

Allen

[Alaskan-Dad]

Thomas Jefferson said,

"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."

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