A New Global Great Depression Has Been Avoided ...

[Jingthing]

As we know quite recently the world has been under the threat of a total economic meltdown as bad or even worse than the great depression in the 1930's.

This threat started in the USA.

This threat is now OVER! At least that is the general consensus of mainstream economists including Alan Greenspan.

ACTION was taken, BOLD ACTION to fight the looming depression. Who deserves this credit?

THIS IS WHO:

Barack Obama and Timothy Geithner

(BTW, Mr. Geithner is a product of international schools in THAILAND).

People are always looking to BLAME. Sometimes it is time to PRAISE.

Are we out of the woods? No. Will things go back to the way they were in the crazy years? Hopefully not. However, please appreciate how much WORSE things could be RIGHT NOW.

Thank you President Obama and Treasury Secretary Geithner.

:D

Edited August 3, 2009 by Jingthing

[flying]

This threat started in the USA.

This threat is now OVER!

Thank you President Obama and Treasury Secretary Geithner.

This is by far the most... pathetic ... funny thing I have ever read on TV

PS: also who rates their own thread? 5 stars after one post?...hmmm Funny & Modest too

Edited August 3, 2009 by flying

[bojo]

As we know quite recently the world has been under the threat of a total economic meltdown as bad or even worse than the great depression in the 1930's.

This threat started in the USA.

This threat is now OVER! At least that is the general consensus of mainstream economists including Alan Greenspan.

ACTION was taken, BOLD ACTION to fight the looming depression. Who deserves this credit?

THIS IS WHO:

Barack Obama and Timothy Geithner

(BTW, Mr. Geithner is a product of international schools in THAILAND).

People are always looking to BLAME. Sometimes it is time to PRAISE.

Are we out of the woods? No. Will things go back to the way they were in the crazy years? Hopefully not. However, please appreciate how much WORSE things could be RIGHT NOW.

Thank you President Obama and Treasury Secretary Geithner.

Appreciation, yes it could have been worse up to now, but I would say congatulations are a little premature.

regards Bojo

[Jingthing]

Appreciation, yes it could have been worse up to now, but I would say congatulations are a little premature.

Based on what? Name me one mainstream economist who says now we are headed towards another great depression? They are saying the exact opposite. That the threat is OVER.

This is really really big news. Really really GOOD news.

This threat didn't get blocked by the USA government doing NOTHING as the radical right wingers wanted. That would have led to DISASTER. The truth is the government should have DONE MORE, but at least the actions they did take were big enough and bold enough to prevent a depression.

Why are people so niggardly with offering praise and compliments WHEN THEY ARE DUE and so quick to snipe for any old trivial reason?

Edited August 3, 2009 by Jingthing

[trogers]

We should only criticize when we can offer alternatives.

[thaijasmine]

As we know quite recently the world has been under the threat of a total economic meltdown as bad or even worse than the great depression in the 1930's.

This threat started in the USA.

This threat is now OVER! At least that is the general consensus of mainstream economists including Alan Greenspan.

ACTION was taken, BOLD ACTION to fight the looming depression. Who deserves this credit?

THIS IS WHO:

Barack Obama and Timothy Geithner

(BTW, Mr. Geithner is a product of international schools in THAILAND).

People are always looking to BLAME. Sometimes it is time to PRAISE.

Are we out of the woods? No. Will things go back to the way they were in the crazy years? Hopefully not. However, please appreciate how much WORSE things could be RIGHT NOW.

Thank you President Obama and Treasury Secretary Geithner.

Only a thoroughly infatuated Obama and or Golman Sachs ( i.e. co govt ) supporter would ever dream of writing crap like this

it's not over until the fat lady sings.

I hear guns sales are still going through the roof

[flying]

We should only criticize when we can offer alternatives.

Facts would be good alternatives

Then again even the OP has it opposite in 2 posts

Post 1 said "This threat is now OVER!"

Post 2 said "threat didn't get blocked by the USA government doing NOTHING"

His second post could almost be credible. But then again Blocked & Cured/Over is two very different things. We have yet to see if what was done has in fact helped or hurt the problem. Yes most will agree it has prolonged/postponed the problem.

But few would claim it is OVER or even repaired/fixed.

Throwing unsustainable future tax money at the problem hardly solved it.

But lets see what things like the GDP show soon enough before we hand out the gold stars eh?

Edited August 3, 2009 by flying

[Jingthing]

it's not over until the fat lady sings.

I don't know this fat lady you speak of.

ALAN GREENSPAN is good enough for me.

He says it is over.

IT IS OVER.

It is really funny you know. People have such SHORT MEMORIES. We were so close to total world financial disaster just some months ago. This is indeed a political victory against knee jerk right wing libertarianism. Big government in this case WORKED.

Imagine what these Obama can do nothing right types would be saying now if we had entered a new great depression. They would have been very happy to blame him for that. Well, players, it goes both ways ...

Will there be a price to pay over time for these big bailouts? You betcha. But that really pales compared to the damage that would have been done if this action had not been taken and we had entered a great depression.

The STOCK MARKET is also doing a great big cheer for President Obama ... from DJ 6500 ish to 9500 ish in a matter of months!

Edited August 3, 2009 by Jingthing

[JR Texas]

Appreciation, yes it could have been worse up to now, but I would say congatulations are a little premature.

Based on what? Name me one mainstream economist who says now we are headed towards another great depression? They are saying the exact opposite. That the threat is OVER.

This is really really big news. Really really GOOD news.

This threat didn't get blocked by the USA government doing NOTHING as the radical right wingers wanted. That would have led to DISASTER. The truth is the government should have DONE MORE, but at least the actions they did take were big enough and bold enough to prevent a depression.

Why are people so niggardly with offering praise and compliments WHEN THEY ARE DUE and so quick to snipe for any old trivial reason?

THEY want you to believe it is over (even though it is far from over) because they want you to start putting money back into the stock market......and they want you to start wanting things again........and spending money on things you don't need.

THEY will even buy up shares to make you think the market is on the rise......and THEY have the money to do it.....total manipulation.

It is all done with smoke and mirrors.......tell the public what they need to know to exploit themselves.......repeat it a thousand times.........and the public starts to believe in the system again........a system that is corrupt to the core.

Nothing has changed........it is social engineering in action..........alter the flow of information (using the mainstream mass media) and beliefs/behaviors change........the system remains the same........the status quo (enrich those that rule and the expense of the masses and future generations) remains intact.

Have a nice day

[thaijasmine]

Appreciation, yes it could have been worse up to now, but I would say congatulations are a little premature.

Based on what? Name me one mainstream economist who says now we are headed towards another great depression? They are saying the exact opposite. That the threat is OVER.

This is really really big news. Really really GOOD news.

This threat didn't get blocked by the USA government doing NOTHING as the radical right wingers wanted. That would have led to DISASTER. The truth is the government should have DONE MORE, but at least the actions they did take were big enough and bold enough to prevent a depression.

Why are people so niggardly with offering praise and compliments WHEN THEY ARE DUE and so quick to snipe for any old trivial reason?

Name me one mainstream economist who says now we are headed towards another great depression - Peter Schiff

How many times will these goons at the White House expect the American people to bend over and take it with a smile

http://theteemingbrain.wordpress.com/2009/...folding-nicely/

Edited August 3, 2009 by thaijasmine

[thaijasmine]

it's not over until the fat lady sings.

I don't know this fat lady you speak of.

ALAN GREENSPAN is good enough for me.

He says it is over.

IT IS OVER.

It is really funny you know. People have such SHORT MEMORIES. We were so close to total world financial disaster just some months ago. This is indeed a political victory against knee jerk right wing libertarianism. Big government in this case WORKED.

Imagine what these Obama can do nothing right types would be saying now if we had entered a new great depression. They would have been very happy to blame him for that. Well, players, it goes both ways ...

Will there be a price to pay over time for these big bailouts? You betcha. But that really pales compared to the damage that would have been done if this action had not been taken and we had entered a great depression.

The STOCK MARKET is also doing a great big cheer for President Obama ... from DJ 6500 ish to 9500 ish in a matter of months!

Who are you Jingthing ? Are you related to Nancy Pelosi or that goon ( crook ) Barnie Franks

or have you just been smoking something this morning?

The stock market is behaving very similarly to 1929 but there were far less global problems then.

[Jingthing]

Name me one mainstream economist who says now we are headed towards another great depression - Peter Schiff

I SAID MAINSTREAM.

Of course, Schiff isn't mainstream.

TIME MAGAZINE

http://www.time.com/time/magazine/article/...1900233,00.html

[Jingthing]

The stock market is behaving very similarly to 1929 but there were far less global problems then.

Miss out on a great rally, I don't care. We will be back to 14,000 within a year or two ...

Aside from the stock market, there are some concrete FUNDAMENTAL changes that bode very well for the future. The LIQUIDITY CREDIT CRISIS of the banks is largely solved. Americans are now SAVING at historic levels. In fact, they are saving too much ...

Edited August 3, 2009 by Jingthing

[thaijasmine]

Name me one mainstream economist who says now we are headed towards another great depression - Peter Schiff

I SAID MAINSTREAM.

Of course, Schiff isn't mainstream.

TIME MAGAZINE

http://www.time.com/time/magazine/article/...1900233,00.html

If it is a choice between believing Obama and Geithner the tax cheat or Peter Schiff( mainstream or not )

its no contest

[Jingthing]

If it is a choice between believing Obama and Geithner the tax cheat or Peter Schiff( mainstream or not )

its no contest

Agreed, Obama and Geithner (and GREENSPAN) trumps ...

I think some of you are letting your political ideology cloud your common sense. I always hated Bush but thought he did the right thing in starting the massive government bailouts before he left office. This was against his ideology but he did it for the good of the country (and the world). Sometimes in real life your political opponents actually do the right thing.

Edited August 3, 2009 by Jingthing

[noahvail]

Based on what? Name me one mainstream economist who says now we are headed towards another great depression? They are saying the exact opposite. That the threat is OVER.

This is really really big news. Really really GOOD news.

I really do want to believe that the threat is over.

What scares me is that all the mainstream economists say it's over.

Much like they did just before the big Crash.

History may be repeating itself. I think the jury's out for a while yet...

[Jingthing]

I really do want to believe that the threat is over.

What scares me is that all the mainstream economists say it's over.

Much like they did just before the big Crash.

History may be repeating itself. I think the jury's out for a while yet...

Well, different opinions make markets. I would bet the house we have BOTTOMED OUT. In fact, I have bet the house.

[Jake1]

Because printing Federal Reserve Notes so the banks can continue handing out bonuses fixes everything 555.

Greenspan! he's one of the major reasons that we're in this mess

The PE Ratio of the S&P500 is over 700! Goldman was caught rigging the market. AIG was found to be a giant Shell game. Unfounded liabilities are over 70 Trillion and the world is starting to reject the $.

BOHICA

Edited August 3, 2009 by Jake1

[Jingthing]

Greenspan! he's one of the major reasons that we're in this mess

Yeah that is true, but I still think his current analysis of what is happening now is credible.

[geriatrickid]

What rubbish.

This threat started in the USA.

No it did not. There is equal responsibility to be shared by European financial institutions. Where do you think many of the largest deals were syndicated and massive profits taken? Do you think the Banks in the UK lost their shirts on US investments alone? The Iceland banking crisis was UK based. The RBS fiasco was UK based. Dresdner bank could have withstood it's US losses if it hadn't screwed up in Europe. Currently UBS, is facing some serious issues all because its leaders decided that helping US citizens evade tax obligations was a good way to make some money and on and on it goes.

This threat is now OVER! At least that is the general consensus of mainstream economists including Alan Greenspan.

\ Greenspan's the fool that put his faith in removing regulations. That really paid off didn't it? At least he admits he was wrong.

Here's a reality check and as much as it pains me to write this since I detest Bush, but some of the basic steps taken to fix the economy were taken during the final months of the Bush presidency. The record shows that Bush voiced strong concerns about Fannie Mae and freddie Mac, but the Democrats in Congress pushed his concerns aside, as did alot of hard core republican backers that were influenced by thelenders profiting from the mess at fannie mae and freddie Mac.

The recovery will be on when there is hiring and private investment in infrastructure. Doesn't look like that will happen for at least a year.

[Jingthing]

I agree George W. Bush can share the credit with Obama and Geithner for heading off another great depression. That is fair.

The recovery will be on when there is hiring and private investment in infrastructure. Doesn't look like that will happen for at least a year.

I think you are confused. I never said the recovery has happened yet. I am saying a great depression has been avoided. The recovery part comes later ...

Edited August 3, 2009 by Jingthing

[thaijasmine]

I really do want to believe that the threat is over.

What scares me is that all the mainstream economists say it's over.

Much like they did just before the big Crash.

History may be repeating itself. I think the jury's out for a while yet...

Well, different opinions make markets. I would bet the house we have BOTTOMED OUT. In fact, I have bet the house.

Now it makes sense why you are desperate to make others believe the crap you do.

[Jingthing]

Now it makes sense why you are desperate to make others believe the crap you do.

Your loss.

[midas]

Greenspan! he's one of the major reasons that we're in this mess

Yeah that is true, but I still think his current analysis of what is happening now is credible.

But he is ex - Federal Reserve ?

Arguably one the most toxic institutions on the planet

Bring on HR 1207 !!

[Naam]

this thread is politically NOT correct Jingthing! it is against each and everything the followers of a certain "grand" ol' party believe in, a party which nominated a village idiot from Texas to be president, who's presidency was rigged and stolen from Al Gore by a corrupt Tallahassie Lassie and who ran down a great country not into oblivion but to the ridicule of many nations.

EAT YOUR HEART OUT REPUBLICANS!

:D

p.s. personally i think the Right Honourable kenyan-irish-hawaiian immigrant O'Bama who sits in the White House could have done much better without shouting loudly promises he can't fulfill. he could have also done better by concentrating on the problems in the U.S. of A. instead of those in Iraq and Afghanistan. but that of course is nothing but my [not so] humble personal view.

[Jingthing]

Many people here WANT Obama to fail no matter what the cost to humanity.

[BEENTHEREDONETHAT]

I think the majority of these people might disagree with you Jing

From the Bureau of Labor statistics..

Unemployment (Household Survey Data)

The number of unemployed persons (14.7 million) and the unemployment

rate (9.5 percent) were little changed in June. Since the start of the

recession in December 2007, the number of unemployed persons has increas-

ed by 7.2 million, and the unemployment rate has risen by 4.6 percentage

points. (See table A-1.)

[bojo]

Appreciation, yes it could have been worse up to now, but I would say congatulations are a little premature.

Based on what? Name me one mainstream economist who says now we are headed towards another great depression? They are saying the exact opposite. That the threat is OVER.

This is really really big news. Really really GOOD news.

This threat didn't get blocked by the USA government doing NOTHING as the radical right wingers wanted. That would have led to DISASTER. The truth is the government should have DONE MORE, but at least the actions they did take were big enough and bold enough to prevent a depression.

Why are people so niggardly with offering praise and compliments WHEN THEY ARE DUE and so quick to snipe for any old trivial reason?

Why does one need to quote a mainstream economist to jusify an opinion? It doesn't take a genius to see things could still go either way.

Personally I don't see that the threat is over. Nobody knows where the dollar or the markets are going, unemployment is still rising worldwide and house prices will undoubtedly slump even further and with the exception of economists who probably have a vested interest in positive spin, I think the general concensus is that there could quite easily be worse to come.

I have attached the doom doctors (Nouriel Roubini's) opinion as of 23rd last month. He seems to think a great depression has 'for now' been checked.

Regards Bojo

Nouriel.doc

[midas]

Many people here WANT Obama to fail no matter what the cost to humanity.

what did YOU write in post 15 ..........." I think some of you are letting your political ideology cloud your common sense." ?

[AlexLah]

I feel very sad Jing, you forget to mention Henry (The Great) Paulson.

And alsoooooo, Captain Hook!

And we will neffah forget this guy.

Thank you!