Regarding the economy...When does the entire house of cards fall?

[Postman]

Are we seeing it happen now in slow motion?

I'm wondering when they're going to stop issuing credit cards and pulling the ones already out there...

[Taverner]

1. It will bounce back, but never to what it was yesterday

This is the end of a peak, with the true price dropping with every market flush

[Pale Blue Dot]

6. Prove it.

Sorry, but there's NOTHING in the news or the numbers that gives evidence that our economy will bounce back any time soon. It's a death spiral, with foreclosures meaning job losses meaning bankruptcies meaning job losses and on and on and on.

I don't mean any offense to you personally, but I'm sick of pollyanna posts that claim that everything's going to be OK without any solid evidence to back them up. Until we face the reality of this situation, we will continue on this death spiral.

[ComplimentarySwine]

8. I believe that I heard on the radio today

that the foreclosure rate is actually relatively low, somewhere around 2.5% vs the %50 seen during the great depression. Does anyone know if there is any truth to this, and, what the rate of change might be?

[KillCapitalism]

13. We could see 50% foreclosure rates again.

A 50% unemployment rate would do it.

[Taverner]

9. Define Bounce Back

If Bounce back you mean it will be what it was last week, then no

But by bounce back you mean it will go back higher than it is now, yes

[Hugabear]

10. I believe we are facing the death knell of the free-market capitalist system

Or at least as we currently know it. You can only get so far by climbing over the backs of the average worker, beating them down into the ground. As the poor continue to get poorer and poorer, as the divide between the poor and wealthy continues to grow, as the middle class continues to evaporate, it was only a matter of time before the whole system came crashing down.

[asteroid2003QQ47]

14. It's time to terminate the free-market capitalists! n/t

[MannyGoldstein]

2. Seeing It Now

It'll amble along into the abyss... then comes the social unrest, the riots, and God knows what will follow.

[jlj3394]

3. Credit will tighten up

And will hamstring the next president's economic plans.

[CountAllVotes]

7. it has already happened

I just got my American Express bill. My cash advance limit is now at $200.00. It used to be at $2,000.00. :scared: and :wtf:

:kick:

[Hugabear]

11. And the poor will just get poorer

I've always felt the whole credit system was designed to put people deeper into debt and poverty. They've done a heckuva job, taking many people who were middle class and fucking them over severely.

[asjr]

4. 1929--DejaVu?

It worries me to death!

[Odin2005]

5. Now.

The house started collapsing about a year ago.

[curious one]

12. This has been drip, drip kind of crash and will continue well into Oct. Maybe this is Oct. surprise