is this country coming to another great depression

[polkcntypierfisher]

another great depression ive been hearing talk about it seems to me people and kids in my generation are pretty much screwed gas prices food prices they raise prices but u make the same or less money kids garduate high school expecting to move out on their own or what not and just cant do it having to stay at home with parents this is what i will do until i or it straightens out theres no kids this day in age can do it ne more i will stay at home as long as can its the smartest thing to do ne more i would like to hear other peoples opinion on this older younger i just would like to hear what others think cause it just pisses me off

[Floridaboy]

I agree, but we need to be careful. If the media convinces us that another great depression is coming, then we will start acting like we are already in a depression, and will CAUSE it to happen!

The media controls more of our life than we care to admit. The govt can try to improve the economy, but if the media puts a negative spin on it, it won't work.

On the other hand, if the media were to tell us that the economy was improving (event if it wasn't), we would all breath a sigh of relief, and start spending again, which would cause the economy to improve!

[spolledagain]

I don't think this country (we) the people will allow another depression, call me an optimist, however, if this country falls to recession, so does the world. It's a global economy now. From a farming aspect, corn farmers are having a field day! Paid to plant corn by the Gov't subsidy to produce corn, then paid a much higher price to sell corn to be made into ethanol. Wheat has been hit worldwide by a mold fungus that's killing it. And for the first time in US history we are importing wheat.

So, everyone wants to grow corn... As a result, we are burning an extremely ineffecient fuel in our cars/trucks, etc. Gas MPG drops, we fill up more and demand grows. We drive up prices that way too.

On to the rest of the farming community, they can't afford to feed their Cows, Pigs, Chickens etc. So they are slaughtering their milk cows and planting corn... BAD CIRCLE...

If you go to the grocery store and look at the price of beef, it isn't too bad right now, why? the market is flooded with beef. Give it 6-8 months and watch beef skyrocket!.

On to land, real estate etc. Simple, to much too fast.. On average, since 2000, the average home increased in value in a metropolitan area over 300%!!

Again, like everything else, greed and stupidity took over. Those without a plan were buying houses, flipping them and making 50 to 60 k a month. Not bad! Again, no plan. As fast as the money came in, they spent it on luxury items like Cars, Boats, Clothes, Vacations, you get the picture. Happy days!!! The down side has not been as bad as portrayed by the media. only 1% of homes in the US are in forclosure. Sure money is tight, and people are a lot less wasteful and prices are falling to a reasonable, affordable level. Expansion and contraction. it's a normal cycle.

The Housing market, from a construction is picking back up, but don't expect it to be anything like the past five years.

Now, on to Oil. You can blame that one on just about anyone you want. A majority of the blame goes to Congress!!. Not Democrat, Not Republican, All of them!!! Next in line is the eco- freaks. Sure, everyone wants to be green, it's the in thing! Drive a hybrid, use Flourescent bulbs. You've heard it all.

Back to reality, it's costs more to own and maintain a Toyota Prius over the life of the vehicle than It does to own a Hummer and feed it fuel. Kinda funny ain't it?.
Florescent bulbs are full of Mercury.?!*&, how about a landfill full of those?

Stupidity and a lack of forsight!? Naaa!, what a great photo opp w/Al Gore who single handidly screwed the planet. oops scratch that, saved the planet...

Anyway, I really do think we (the average joe) will keep working, pay our bills, most of them anyway. Be socially conscious, ie. don't litter etc etc. and go on with our lives.

The price of oil will CRASH soon!!.. Yes it's a supply and demand issue, however it's also a fear driven price. We, the planet have not raised the demand 300% in 2 years! face it, 80% of the current price is commodity profit. Not Big-Oil Price gouging. They don't even set the price. The market does.

We need to drill for our own oil. We're swimming in it. Congress needs to get the message or get the @#$%! out. So in November, your kinda screwed. Take your pick. The Democrat Democrat, or the Republican Democrat. In 2010, Fire congress!! all of them!! Start with a clean slate. maybe even start the (COMMON SENSE party)

Get back to more of this later.. Time to go FISHING!!!!

[SkyJay]

You've got Fight... For you Right...


To Parrrrrrrrty______________


Relax peoples. Everythings gonna be alright. Just a little bump in the road is all! This is the greatest Country in the Universe!


(That besides we got some really big bombs LOL)

[festeroo031985]

spolledagain...i totally agree with what you have said ive been saying we need to drill our own oil for years now let the fuel prices drop for a year or two pick the economy back up let us stock pile some cash flow and then slowly work back into buyin oils from other countries yet having a mixture of our own in there to keep the prices down....

[montylfl]

just remember.. if we are to drill our own oil rules may need to be set.

Before I say what those rules are let me give you something to think about.

Fester ( or anyone else who thinks we show drill our own oil), joe goverment is going to allow you to drill for as much oil as you can for 5 yrs in the US.

You can pump as much as you can. Where are you going to sell it?

In China they are willing to pay you $175.00 per barrel.
In the US we are only willing to pay $70.00 per barrel.
Who are you going to sell too?

Ok now you are a corporation and you have stockholders to answer too. Who are you going to sell too?

Differnt option. the goverment comes a long and says you can drill all the oil you can for 5 yrs but you must sell it in the US only. The price is set by the govermnet at @70.00 per barrel. You know you can buy the oil on the commidity exchange for $135.00 today and sell to china in three months for $150.00 a barrel. What are you going to do?

Two different options and both with the same answer. You will not sell the oil in the US.

Now we all love this country and the free market is one of the reasons that make this country great. But let's say you want to be a great American. Do you really think you can drill for oil in the US and keep the oil here?

We need to develop a fuel that can be used to power our cars. I am not sure what the answer is but opening up the coastal areas for drilling or alaska for drilling will not bring down the price unless the goverment sets the price and only allows you to sell in the US but that will have a larger impact on the world economy. Setting price controls is more like a communist state then a free market society.

Six months ago I would have recomended removing Oil from the US commidity markets. However, with the devaluation of the dollar OPEC is now selling half its oil production in other currency then the US dollar.

We are all screwed. My quess is in three years OIL will be selling for $400.00 a barrel. Gas will be close to $22.00 per gallon and we wish we were living in the great depres. I am no tree hugging nut but we need to find an alternative to Oil for energy.

[taz]

we already have found an alternative source to oil. its just not allowed to develop by those in power. we've had it for over a decade. i agree that the price of oil will get out of control. i cant wait for gas to hit 22 bucks a gallon because i cant wait for the (non-violent) revolution. this country is in its saddest state since slavery and the annihilation of the American Indians. I seriously feel ashamed to be an American and unless a movement to turn things around begins relatively soon, Ill be living out my days and fishing from somewhere like the British Virgin Islands, Japan, Costa Rica, the Phillipines, or Australia. I hate to say it because I was once an officer in the military...

Happy Memorial Day. Memorialize those who displayed our finest human qualities at our finest hour, and let their sacrifice enlighten us to the fact that all violence is ultimately self destructive, unnatural, and thereby a means of unavoidable self defense... an absolute last resort.

Ok off the soapbox. Back to feeling grateful that I am enjoying Florida and not Iraq.

[taz]

and spolled again... you make some interesting arguments. please dont take this as a suggestion of skepticism, but can you give me some online references. im always looking for more info

[pascosal]

there are way too many variables, however as a country we rely too much on imported oil. if we could tap into the oil here and use our own product fuel prices would fall. the top oil producing nations have the lowest prices for fuel. the middle east region fuel is way less than a dollar per gallon. IMHO

[bigcatcatcher]

My car was 20 mpg before ethanol and 20 mpg after ethanol! Go figure? The media dosent have to tell us anything the $4.00 per Gallon tell us all what is happing. The U.S.A has enough oil in Alaska , colorado , and , the Gulf of Mexico to become the worlds largest oil producer and to last the country long enpugh till we figure out how to get along with out it.

[spolledagain]

Taz, I will have to do some surfing to find a few links for you, but happy to do so.

I just have the gut feeling that if the (USA) being the "press" and "congress" even mention that we are going to open up our existing wells and open up to new exploration etc. Just that alone will greatly drop the open market price of oil overnight.. Look at what happend when Iran just made a statement that they would possibly cut supply if provoked by Isreal?? It's truly a sorry day when a commodities broker makes economic decisions for the average joe!!!

It is a HUUUUGGGGEEEE problem that affects all of us in every aspect of our daily life, and not just in the price of gas at the pump but anything that is petro based; which at this point in time is about 80% of everything. From TV's to Fishing Line.

Anyway, if time permits tonight, I will get some links to post.

[pascosal]

that is a great point on that spolledagain. i have a friend that is an economist and i have been trying to get a hold of him to find out his input on this countries dilemma. but if we do announce that then you are right the prices would fall because we would not have to depend on OPEC for oil and fuel. from what i hear gas will be between 5 and 6 dollars a gallon when oil will cost 200.00 per barrel

[filletnrelease]

OK now I'm depressed. You get a raise at work, the price of gas to get back and forth goes up, property taxes goes up, insurance goes up and the price of food and drink goes up. I'm going fishing and try to forget about all this crap, it aint gonna change. Like pop always said, don't dwell on something you have no control over. See ya on the piers. Fish on.

[spolledagain]

Here's a little something to add a little levity to the situation. If you really think you can't do anything, you won't.. If you want to let your opinion be known as well as 80%of the rest of us every day joe's. goto www.schnittshow.com OPERATION DRILL BIT...

[spolledagain]

Here's another great one. Corn was $2.10 a bushel in 2005 and gas was roughly$ 2.28?. Today's price on Corn 5-30-08 $5.50 a bushel, Gas $3.92. If you've got a good freezer or vacuum pack system, stock up on Beef!! next year we will be importing more than we produce and the price will skyrocket.. Right now you actually can get smokin' deals on steaks & beef everywhere. Can't always eat fish, keep gettin spolled... But then again... That's well spent money!!!