OT Economic Future
jerikson40
New York
It's tough when you have half the world on Ignore, cuz you see fragments of stuff appear out of nowhere. But there seem to be a lot of references to a coming economic boom.
Interesting....
I'm certainly the last guy to ask about economics and the future. Hell, I NEVER in a million years would have predicted the incredible explosion in internet and social media and gaming and Facebook and all the associated economies. Blows my mind how much interest there is around the world for all of this social media stuff, smart phones, tablets, etc. etc.
However, from my perspective, it seems like this is an incredibly fragile economy in the US. How would demand for all of these non-essential products survive a significant economic decline? When things get tough, are people going to be buying all of these electronics and computers and smart phones and doing all of this social media stuff? I doubt it.
And if you add to that the fact (at least I think it's a fact) that people nowadays in the US seem to be far less able to survive a significant economic downturn than in the past. If we had Depression tomorrow, who is equipped to weather the storm?
Now, maybe there are some new markets being developed that will cause a huge boom in demand, and fuel a huge economic boom. I just don't see where it would come from. Now clearly some developing countries, like China, have a lot of untapped demand and potential. But is that going to mean much for the US when and if it materializes?
What I see is another economic downturn due to some ridiculous shit like the fiasco with the subprime lending market back in 2007, but this time we can't survive. Totally unpredictable by the vast majority of economists before it happens, but once it happens you're totally fucked. And IMO the US economy is based on so much fragile demand, as well as so much intertwined worldwide financial shit that it seems like someone farts in Bolivia and the Japanese economy hits the floor and the US is in a depression.
If anyone knows the real info I'd be interested to hear it.
Interesting....
I'm certainly the last guy to ask about economics and the future. Hell, I NEVER in a million years would have predicted the incredible explosion in internet and social media and gaming and Facebook and all the associated economies. Blows my mind how much interest there is around the world for all of this social media stuff, smart phones, tablets, etc. etc.
However, from my perspective, it seems like this is an incredibly fragile economy in the US. How would demand for all of these non-essential products survive a significant economic decline? When things get tough, are people going to be buying all of these electronics and computers and smart phones and doing all of this social media stuff? I doubt it.
And if you add to that the fact (at least I think it's a fact) that people nowadays in the US seem to be far less able to survive a significant economic downturn than in the past. If we had Depression tomorrow, who is equipped to weather the storm?
Now, maybe there are some new markets being developed that will cause a huge boom in demand, and fuel a huge economic boom. I just don't see where it would come from. Now clearly some developing countries, like China, have a lot of untapped demand and potential. But is that going to mean much for the US when and if it materializes?
What I see is another economic downturn due to some ridiculous shit like the fiasco with the subprime lending market back in 2007, but this time we can't survive. Totally unpredictable by the vast majority of economists before it happens, but once it happens you're totally fucked. And IMO the US economy is based on so much fragile demand, as well as so much intertwined worldwide financial shit that it seems like someone farts in Bolivia and the Japanese economy hits the floor and the US is in a depression.
If anyone knows the real info I'd be interested to hear it.
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4 comments
Many small cities have declared bankruptcy, now big cities are facing it. Debt seems to be largely written off and pensioners and debt holders get screwed. States are next.
Unfortunately, due to spending being so popular with politicians, if a fiscal conservative were to become president i think we would see a recession. If we get another borrower we will just kick the can down the road and have an even bigger problem later.
Why can't people see how life crushing debt is? C'mon people.