Another Great Depression?

[161xchonda]

The other day my English teacher was saying that we may be in another great depression type situation in the possibly near future. She was telling us (my class) that we do not have enough gold and such to back up all the money we are printing. She also said that the U.S. owes 372 billion or trillion dollars to China. Does anybody here think that this will happen again like it did in the 1930's? If so how long do you guys think it will last and how bad it will be?

[bansheeguy]

not going to happen

[Mxjunkie]

I guess I better stock up on 2 stroke oil and gas so I can ride if it does :o

[trick450r]

Originally posted by bansheeguy
not going to happen

thats not talk if we cant back it up...mkay? Honestly i dont know much about this subject so i wont say anything, but i think that it is entirely possible?

[Quad18star]

All I know , is that my Canadian dollar is on the rise ... it's a good thing for travallers ... very crappy for Canadian industries though .

China is on the move to become the next Super Power of the world ... and they're doing one hell of a good job too . They're buying up everything possible ... their technology is years more advanced than here in the West .

I'm not sure about the USA , but here in Canada I think a depression is in store in the next 10 years or so if things don't change .

[yamablaster24]

there is supposed to be a depression every 10 years to keep the economy in check.

[MOFO]

Panic causes a depression - if people would just ride things out, there will be no depression. If people start to panic and pull their investments and close out bank accounts (a very large number and @ a fast rate)... then we have a problem.

Now a recession, yes, those do and will happen... its the nature of our economy.

We will not have another Great Depression - nothing that severe. I believe the only thing that would or could cause a "great" depression would be MAJOR attacks on our soil and some form of a world war.

[MOFO]

Originally posted by yamablaster24
there is supposed to be a depression every 10 years to keep the economy in check.

your talking about a recession. Big difference between the two.

[insaneracin2003]

Originally posted by Quad18star
All I know , is that my Canadian dollar is on the rise ... it's a good thing for travallers ... very crappy for Canadian industries though .

China is on the move to become the next Super Power of the world ... and they're doing one hell of a good job too . They're buying up everything possible ... their technology is years more advanced than here in the West .

I'm not sure about the USA , but here in Canada I think a depression is in store in the next 10 years or so if things don't change .
anyhting happens,im going to gregs house,gotta extra room??lol

[bansheeguy]

lol its 2006 there will never be another depression, just higher gas prices

[ml450r]

Originally posted by MOFO
Panic causes a depression - if people would just ride things out, there will be no depression. If people start to panic and pull their investments and close out bank accounts (a very large number and @ a fast rate)... then we have a problem.

Now a recession, yes, those do and will happen... its the nature of our economy.

We will not have another Great Depression - nothing that severe. I believe the only thing that would or could cause a "great" depression would be MAJOR attacks on our soil and some form of a world war.

well said

Deprssion...no
Recession....yes

There are many differences from the late twenties until now. Things are in place that were not back then.

Your teacher is a "nut".

[coolex]

i do not believe there will be a depression because we have a lot of things in this nation prevent it

[161xchonda]

I thought that sounded sort of weird when she told my class that. I was just wondering what you guys thought about the subject. Oh ya and what is a recession.

[derekhonda]

Originally posted by 161xchonda
I thought that sounded sort of weird when she told my class that. I was just wondering what you guys thought about the subject. Oh ya and what is a recession.

recession is defined by two consecutive quarters (so 6 months) of negative economic growth.

[Matt37]

Yea, recessions are fairly common.

Well, they are more common than depressions.

I do not see a depression occuring in the near future.

Unless something drastic happens, The stock market crash of 1929 played a big role in the depression.

[PHAT400]

Originally posted by MOFO
Panic causes a depression - if people would just ride things out, there will be no depression. If people start to panic and pull their investments and close out bank accounts (a very large number and @ a fast rate)... then we have a problem.

Now a recession, yes, those do and will happen... its the nature of our economy.

We will not have another Great Depression - nothing that severe. I believe the only thing that would or could cause a "great" depression would be MAJOR attacks on our soil and some form of a world war.

What he said..:o

Just keep spending.... nothing helps out the economy like good ol spending...

[PolarisRider]

isnt your english teacher supossed to be teaching english? lol

[FMF450R]

Originally posted by 161xchonda
She was telling us (my class) that we do not have enough gold and such to back up all the money we are printing.


Its a hoax, the US Treasury no longer uses gold to back up the currency it prints. Tell her to stick to English, not Finance.
:rolleyes:

[zeppelin]

Originally posted by FMF450R
Its a hoax, the US Treasury no longer uses gold to back up the currency it prints. Tell her to stick to English, not Finance.
:rolleyes:
damnit you beat me to it lol, yeah your teacher is a moron, the us converted from the gold and silver backed system in the 70's

[ZeroLogic]

Maybe thats why shes a english teacher.:)

[400exrules]

yah, they dont use gold anymore, they use twinkies..........




















what:confused: ...............they never spoil:blah: ;)

[Quad18star]

Originally posted by insaneracin2003
anyhting happens,im going to gregs house,gotta extra room??lol

There's an extra room , but you gotta battle the dog for it ... and trust me if you try and move him , he'll show you that he's not happy ... show you his teeth , growl and probably try and nip off the end of your fingers . LOL I trained him well . :D

[hrc]

I would not worry about a depression because if there is one just move to Canada or mexico.

[Quad Boy 660r]

Originally posted by ml450r

Your teacher is a "nut".

Well, I've never met his teacher, but I'll bet anything my 1st period Engish teacher is worse. She's like a damn hippie. Quote, " If someone ever makes a mistake, they can be like a pheonix, and rise above it, and try again."

She also said that the feeling of being scared is addictive to people because it feels like heroin and morphine. She said that.

Now, my class has to about how rodents and Greek Mythology are related.

She does have a good taste in music. Yesterday, we got to listen to Godsmack in class.

[zeppelin]

Originally posted by Quad Boy 660r
Well, I've never met his teacher, but I'll bet anything my 1st period Engish teacher is worse. She's like a damn hippie. Quote, " If someone ever makes a mistake, they can be like a pheonix, and rise above it, and try again."

She also said that the feeling of being scared is addictive to people because it feels like heroin and morphine. She said that.

Now, my class has to about how rodents and Greek Mythology are related.

She does have a good taste in music. Yesterday, we got to listen to Godsmack in class.

so far i havent met an english teacher that i didnt suspect to be an adict. last year on the first day of school i walk in this ladies class, and the first sign to me that something was wrong was when i saw she painted her classroom flouresent yellow. i swear to god that this ***** looked almost exactly like marelin manson or how ever you spell it. and that lady is bouncing off of the walls talkin about what a great day she was having 5 years ago... :huh

Recessions and economy booms come and go in cycles. Your economy can only go strong for so many years before it slows a bit or slides into a mild recession. The trade deficit with China and a few others is huge, we are buying alot of goods on "credit" from them and as soon as they decide to demand payment and dump all of the U.S. dollars they are holding in their reserves we are in for a good recession. The only thing that will cause a depression in the U.S. is a World War 3 which could very well happen if Iran is allowed to develop a nuclear weapon in the next few years because they will use it.

[Warnerade]

the US is in debt $8,268,903,497,372.57

we will likely never be out of debt.

Originally posted by NacsRacer027
the US is in debt $8,268,903,497,372.57

we will likely never be out of debt. http://i18.photobucket.com/albums/b137/Alloymx428/1DPL2185s.jpg

[LTZ400rider]

twinkies do go bad, havent u seen die hard and myth busters


what do they use to back up currency? and whats fort knox and everything for?

[spdygonzalez450]

ok what you need to understand is taht china maybe getting big but they their work force is by far the most uneducated, so in the long run that will not be good for them, as for the depression like everyone is saying the economy goes in cycles, expansion, recssion, depression. the united states economy is i think 4time maybe 5time the strenght of chinas'. no way are they going to be the number one super power. and as for the economy of the us, we are strong and we are growing everyday. anyone who says that the united states will fall and that china will be the new "super power" is uneducated and has no idea what they ar talking about, read a econ book or take an econ class you will learn tons about this stuff. same with history. i get all amped with this stuff that is what my major and minor are in school, economics and history. but tell your teacher that we go into ressions but that is apart of simple economics, we cant grow forever it has to stop and fall and than climb back up

[prepracing]

Originally posted by NacsRacer027
the US is in debt $8,268,903,497,372.57

we will likely never be out of debt.



I agree, we ( the U.S. ) may as well just quit keeping up with the national debt because it will never get paid off. And I would be interested to know what other countries national debt is ?

[Scott-300ex]

The government is in debt to us over 8 trillion dollars.

They owe the U.S.

Theres a site you can go to and hit refresh after 1 second and it goes up like $20,000. My friend goes to it all the time.

Originally posted by spdygonzalez450
ok what you need to understand is taht china maybe getting big but they their work force is by far the most uneducated, so in the long run that will not be good for them, as for the depression like everyone is saying the economy goes in cycles, expansion, recssion, depression. the united states economy is i think 4time maybe 5time the strenght of chinas'. no way are they going to be the number one super power. and as for the economy of the us, we are strong and we are growing everyday. anyone who says that the united states will fall and that china will be the new "super power" is uneducated and has no idea what they ar talking about, read a econ book or take an econ class you will learn tons about this stuff. same with history. i get all amped with this stuff that is what my major and minor are in school, economics and history. but tell your teacher that we go into ressions but that is apart of simple economics, we cant grow forever it has to stop and fall and than climb back up

That must be a community college in Mexico you are going to if thats your take on things.

[Quad18star]

Originally posted by spdygonzalez450
ok what you need to understand is taht china maybe getting big but they their work force is by far the most uneducated, so in the long run that will not be good for them, as for the depression like everyone is saying the economy goes in cycles, expansion, recssion, depression. the united states economy is i think 4time maybe 5time the strenght of chinas'. no way are they going to be the number one super power. and as for the economy of the us, we are strong and we are growing everyday. anyone who says that the united states will fall and that china will be the new "super power" is uneducated and has no idea what they ar talking about, read a econ book or take an econ class you will learn tons about this stuff. same with history. i get all amped with this stuff that is what my major and minor are in school, economics and history. but tell your teacher that we go into ressions but that is apart of simple economics, we cant grow forever it has to stop and fall and than climb back up

China uneducated??? Ok who's giving you this info ?? China is one , if not the most, educated populations in the world . Their kids and some adults go to school for nearly 15 hours per day . My cousin just came back from China after teaching there for over a year and you wouldn't believe how smart of a population these people are . Also 99% of their technology is years more advanced than ours here in the western world .

Also they are buying up anything they can get their hands on .... any type of minerals ... any metals ... among other things . I come from a community where mining runs the economy thanks to INCO which is a world mining giant . We supply probably 90% of the worlds nickel and other precious metals . For the last 4 or 5 years , I've been seeing little Chinese guys taking tours and buying up real estate in the area . They have litterally bought up an entire town which is within a mile or two from some of the largest mines in the world . They're planning on buying up INCO which is mostly American owned which would be a several billion dollar deal . INCO is just now taking over Falconbridge which is top 5 in the worlds largest mining companies . Between both companies they own thousands of mines and refineries around the world . When China gets ahold of these companies , they'll control probably 98% of the worlds minerals . Look around your home and see whats made of metal ... then tell me when China gets ahold of this they won't have control over a HUGE market . There are 2 major things that run this world ... the first is oil ... the 2nd is minerals .

spdygonzalez450 Keep up the good work. When your California hippie, ultra liberal socialist "professors" are done brainwashing you, the Chinese goverment has a public relations job waiting for you. They have been looking for a good white boy like you. China is the sleeping dragon, and as soon as they learn how to use the massive military they continue to assemble(that we americans paid for) we are in for a terrible wake up call. Between India and China, Asia will be the next ECONOMIC superpower. We better pray that China somehow opens their repressive communist system to reform or things are gonna get real ugly in the next 10-20 years.

Originally posted by Quad18star
China uneducated??? Ok who's giving you this info ?? China is one , if not the most, educated populations in the world . Their kids and some adults go to school for nearly 15 hours per day . My cousin just came back from China after teaching there for over a year and you wouldn't believe how smart of a population these people are . Also 99% of their technology is years more advanced than ours here in the western world .

Also they are buying up anything they can get their hands on .... any type of minerals ... any metals ... among other things . I come from a community where mining runs the economy thanks to INCO which is a world mining giant . We supply probably 90% of the worlds nickel and other precious metals . For the last 4 or 5 years , I've been seeing little Chinese guys taking tours and buying up real estate in the area . They have litterally bought up an entire town which is within a mile or two from some of the largest mines in the world . They're planning on buying up INCO which is mostly American owned which would be a several billion dollar deal . INCO is just now taking over Falconbridge which is top 5 in the worlds largest mining companies . Between both companies they own thousands of mines and refineries around the world . When China gets ahold of these companies , they'll control probably 98% of the worlds minerals . Look around your home and see whats made of metal ... then tell me when China gets ahold of this they won't have control over a HUGE market . There are 2 major things that run this world ... the first is oil ... the 2nd is minerals .

Good post man, for a Canadian. LOL Just messin with you Bro

[Quad18star]

Originally posted by ACEOUTDOOR
Good post man, for a Canadian. LOL Just messin with you Bro

I try my best .... even if it took me 20 minutes to type it all out ... I really gotta learn to type with more than 2 fingers . ;)

[Quad18star]

Originally posted by prepracing
I agree, we ( the U.S. ) may as well just quit keeping up with the national debt because it will never get paid off. And I would be interested to know what other countries national debt is ?

I've read that the Canadian national debt was somewhere around $600 billion and it's costing us approx $42 billion a year in interest alone . That's just some quick numbers I've found . We have a population of about 35 million people .

Maybe your new president will tighten up the belt, a little.

[spdygonzalez450]

ok well first of all when you attack someones personal belief and say that my california hippy whatever you said that is a fallacy of language and that just makes your argument go down the crapper, if you dont know what that means than go back to school, if you have read anything includig my post i said work force WORK FORCE. and second of all i am not hippy hell no. read open your eyes and read jsut b/c china is buying stuff and all that does not mean they are going to become the next superpower but this topic is worthless talking to people who have really no idea what they are talking about this is a quad site

[Warnerade]

Originally posted by spdygonzalez450
ok well first of all when you attack someones personal belief and say that my california hippy whatever you said that is a fallacy of language and that just makes your argument go down the crapper, if you dont know what that means than go back to school, if you have read anything includig my post i said work force WORK FORCE. and second of all i am not hippy hell no. read open your eyes and read jsut b/c china is buying stuff and all that does not mean they are going to become the next superpower but this topic is worthless talking to people who have really no idea what they are talking about this is a quad site

Originally posted by spdygonzalez450
ok well first of all when you attack someones personal belief and say that my california hippy whatever you said that is a fallacy of language and that just makes your argument go down the crapper, if you dont know what that means than go back to school, if you have read anything includig my post i said work force WORK FORCE. and second of all i am not hippy hell no. read open your eyes and read jsut b/c china is buying stuff and all that does not mean they are going to become the next superpower but this topic is worthless talking to people who have really no idea what they are talking about this is a quad site

Have you ever traveled to Asia or anyplace besides Mexico for that matter? For your information I lived in southeast Asia and I study international economics and international politics so YES I do know what I am talking about. I didn't call you a hippie, I called the California neo-liberal scum trying to ruin our country they call "PROFESSORS" hippies because thats exactly what they are. I doubt you even know what the capital of China is, go ahead and look it up.

[Thump_It]

Originally posted by spdygonzalez450
ok well first of all when you attack someones personal belief and say that my california hippy whatever you said that is a fallacy of language and that just makes your argument go down the crapper, if you dont know what that means than go back to school, if you have read anything includig my post i said work force WORK FORCE. and second of all i am not hippy hell no. read open your eyes and read jsut b/c china is buying stuff and all that does not mean they are going to become the next superpower but this topic is worthless talking to people who have really no idea what they are talking about this is a quad site



You are very hard to take seriously as well. Being a collegian, maybe you should invest in a class with a structure based on grammar and punctuation. I absolutely agree with ACEOUTDOOR about college professors, most college students are at a vulnerable stage of their life. They are trying to figure our what they are all about. Professors see this and act, they try to sculpt you into believing their ideals; and in most cases, professors are ultra-liberal, dirt eating-tree huggers. But we all know you have everything figured out, so preach on brother.

[Plante400]

nukes are coming before a depression is lol