Sonic Youth Gossip - how long can the economy keep crashing?

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how long can the economy keep crashing?

it seems to be in constant decline with record losses on a daily/weekly basis but how long before it cant go any further? they keep talking of impending recession, i say we are there already but how long can it go on for?

2 or 3 years, at least...

The future is very bleak.

I don't know, but there is nothing we can do but ride the economic woes.

Until the day the people rise up and seize the means of production!

the tragic suicides are already starting...

WESTFIELD, Massachusetts (AP) -- An 8-year-old boy died after shooting himself in the head while firing an Uzi submachine gun under adult supervision at a gun fair.

The boy lost control of the weapon while firing it Sunday at the Machine Gun Shoot and Firearms Expo at the Westfield Sportsman's Club, Police Lt. Lawrence Valliere said.

The boy was with a certified instructor and "was shooting the weapon down range when the force of the weapon made it travel up and back toward his head, where he suffered the injury," a police statement said. Police called it a "self-inflicted accidental shooting."

The victim was taken to Baystate Medical Center where he died. His name was not released.

Although the death appears to be an accident, police and the Hampden district attorney's office were investigating, officials said.

The club said on its Web site that the event, run in conjunction with C.O.P. Firearms and Training, is "all legal and fun." People will be allowed to fire weapons at vehicles, pumpkins and other targets, it said.

Officials with the private club and the firearms group could not be reached for comment. A message left on a club answering machine was not returned. The C.O.P. group's machine clicked off without taking a message.

The sportsman's club was founded in 1949 and describes itself on its Web site as an organization that promotes "the interest of legal sport with rod, gun, and bow and arrow, both directly and through training."

the stock market IS NOT the economy

the stock market is ONLY a barometer of what investors think a company's stock is worth.

It does NOT tell you how the nation's companies are doing. There are oil and gas companies making record profits every single quarter, BILLIONS AND BILLIONS of PROFIT. that is part of the economy.

people with real money se these deep drop offs as buying opportunities. whe stocks crash on market freakouts, the true heavy investors, see it as an opportunity to buy stocks that are undervalued.

that is why this shit needs to be regulated, because companies have, in the past and in the recant past (enron), acted in collusion to drive their stock up or down depending on what they wanted to do.

ITT Adam Smiths and Alan Greenspans.

fuck greenspan with his bullshit apol;ogies yesterday

dumb ass fuck actually wants us to believe he was SHOCKED that the directors of these large corporations were GREEDY and did things in their intereest instead of the stockholders or the companies best interests. fucking MORON. Thanks for your decade of de-regulation. you fucking asshole.
eat shit and die already greenspan.

Quote:

Originally Posted by Nefeli

the stock market isnt the economy, but it is a part of it and it is related to it.
the prices of the stocks in theory, should reflect how investors see the prospects of a company. with fundamental analysis, rations, stock evaluation, investors should be able to make a comparison of the real value of the stock and the price in the market and then decide how the future of the stock would be and act relatively.
it is a part of the economy, because when the company first issues the stocks and the public becomes shareholders, with the money it takes it uses it for growth, investements etc, which leads to more jobs, more consuming, more growth of the economy etc.
(a similar role that banks should have when they give loans to companies).
the same goes with the annual profits. distributing them between dividents and investments. people getting "richer", the consume more-->economy growth.
now all that is in theory. corruption and greed arent being taught in schools.
companies give false financial data, use the money they get to buy jets or whatever instead of investing, stock analysis is mainly marketing, banks give loans that are risky, investors are being lied to, but also dont look beyond their greed and ignore the facts.
sidenote-im not saying that there arent good analysts out there or that all companies are corrupted.
badass auditing and risk management is what could prevent investors from being fooled, banks etc from giving bad loans or make investements that are of high risk. i mean they will make the high risk investments but they will distribute the risk.

the facts are that corporations have a board that is supposed to oversee their actions, and make sure that the governing party of any corporation is doing what is in the best interest of the company and shareholders. with the de-regulation philosophy of greenspan these boards had no oversight and became pure rubber stamp asholes as long as they got their $$$$$.
that way the leaders of these corporations had free rein to be as corrupt as possible.

The whole goddamn system of the free market has been shown up for the sham that it is, but the powers that be will continue to insist that it's the only game in town for decades to come. Government colludes with corporates, and it's the small guy and gal who gets shafted again and again.

And I can't wait to see how many former Enron/corporate jail inmates GWB pardons as he leaves office.

Nefeli - you be right there on your above point it's like "if I don't think about the risks, then nothing will happen to me - I don't care about if anyone else gets hurt".

we are all gonna be fucked whilst we sit around in our centrally heated homes sipping cappucinos and watching sky+ recorded programmes and internet surfing with our broadband connections....

in reality terms, recession is a word which kinda has lost all meanings... we aint gonna see food rationings or fuel rationings now are we in reality!!!!

the media really has to be held accountable for a lot of this internationalm mass hysteria...

yeah the economy worldwide is in turmoil but its not gonna be like the 1940s or the 70s and 80s in ireland and the uk......

it will be a pay per view recession!

Quote:

Originally Posted by PAULYBEE2656

it will be a pay per view recession!

tell that to the renters getting kicked out of their homes by banks because the landlords defaulted on their mortgages.

yeah fair point but landlords sell their property regardless. it has happened to many of my friends and to me as well in the past..........

what happened was a financial crash, it will keep dragging itself until it's effects on the real economy are disclosed.

Quote:

Originally Posted by PAULYBEE2656

yeah fair point but landlords sell their property regardless. it has happened to many of my friends and to me as well in the past..........

me too but there's a difference between getting kicked out because of a known sale and having the sheriff show up after you've paid rent and being told, too bad, you have to leave now with a gun pointed at you.

That cunt Mark from phoney punk band Out Cold did that to me, he inherited a house from his grandmother and we were all living in Lowell punk rock utopia and one day I came home from work and there's a for sale sign, one week later he was closing, he never had the guts to even tell us, but he did make it clear if we complained he'd sick his corrupt cop dad on us.

I hate the fact that because we've sold so many of our companies to US owned businesses/people, our dollar is sliding faster and faster, despite our ecconomy being relatively stable.