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2008 Economy Predictions

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    #31
    From a Canadian perspective, what bothers me is the fact that quite a few people I know don't see the 'problem' that is happening. Every single weekend, there are line ups at all border crossings, of Canadians trying to take advantage of the increased value of the Loonie.

    What's mind-boggling is that alot of people are using credit to purchase all of these things... and the only reason why they're buying is because "wow, it's a deal!" They don't need what they're buying, they're buying because they feel they need to do so.

    I know that next year, there is the potential for alot of people to dump their houses because they simply can't afford them. And with 200 new homes for my subdivision planned for the next 2 years, I don't know what's going to happen in our neck of the woods.

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      #32
      Originally posted by sweeps View Post
      Interesting post, probably deserves its own thread.

      I bought a Honda Odyssey... is that buying a USA product? 100% American labor, 80% American parts, built in Alabama. And it will likely last much longer than an equivalent Ford or Chevy will.

      I would change things up a little bit and say instead of "Buy USA", "Buy less CRAP!" We (as a country) buy tons and tons of complete CRAP day in and day out. We are obsessed with CRAP. We borrow from other countries to buy CRAP, and then throw the CRAP away, and then we buy more CRAP to replace the CRAP. We've become hopelessly dependent on other countries (and on our own government) on providing us with CRAP. CRAP goods, CRAP services. We need to stop consuming CRAP and start producing useful, reliable goods and services that other countries WANT to buy and we ourselves are proud to buy.
      Hey, a little CRAP never hurt anybody... Now CARP, on the other hand... Stay away from those shifty fish!

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        #33
        Originally posted by Fern View Post
        What's happening these days in the economy is really scary. I'm talking about the real estate/mortgage markets and spiraling out of control oil prices. It's gonna get worse before it gets better.
        Agreed. The national & consumer debt we're teetering under is staggering. I can see no happy ending, myself.

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