3 ms·

Because some believe this country won't last the next 10 years

by Diamons 10y ago

notheguyouthink 10y ago
On that note, where is safe to put your money i wonder? Is there more and less stable mediums to hold your money?
ryanmarsh 10y ago
If you're 40 you've probably experienced 2 to 3 boom/bust cycles (depending on the industry) as an earner. I think that kind of volatility and hope for the next windfall leads people to believe debt will work itself out. Or as is oft misattributed to Steinbeck: "... in America because the poor see themselves not as an exploited proletariat, but as temporarily embarrassed millionaires."
- Arizhel 10y ago
  As an engineer, boom/bust cycles like this remind me of system instability with insufficient damping. It doesn't work itself out; the oscillations get larger and larger, and then something breaks. Remember the Tacoma Narrows Bridge?
  - TulliusCicero 10y ago
    But the oscillations aren't getting larger. The great recession sucked, but it was nowhere near as bad as the great depression.
    - Arizhel 10y ago
      They are getting larger. You're looking too far back. After the Great Depression, policies were enacted which served as dampers to improve system stability. They worked for quite a while. But eventually these policies were eroded or repealed, and other societal factors came along which degraded stability, so the oscillations picked up again, and grew larger and larger (think 80s S&L crisis, '00 dot-com crash), culminating in the '08 recession. Now we're going to have a much bigger one with Trump and the GOP in office. If this one doesn't cause a collapse, the next one will.
      - TulliusCicero 10y ago
        The dot com crash was big for the stock market and for the tech industry, but it wasn't a really big recession; it barely touched economic fundamentals, just look at GDP. Personally I doubt the next recession/slowdown will be anywhere near as big as 08, but I guess we'll see.
        Arizhel 10y ago
        We always have recessions when there's Republicans in power (I'm not sure why voters haven't figured this one out yet); there was one with Reagan, one with Bush I, one with Bush II, etc. Trump and the current crop of Republicans are advocating very extreme changes (namely trade restrictions), so I think we're likely to have a more extreme recession because of this.

Because some believe this country won't last the next 10 years

by Diamons 10y ago

Because some believe this country won't last the next 10 years

notheguyouthink 10y ago

On that note, where is safe to put your money i wonder? Is there more and less stable mediums to hold your money?

ryanmarsh 10y ago

If you're 40 you've probably experienced 2 to 3 boom/bust cycles (depending on the industry) as an earner. I think that kind of volatility and hope for the next windfall leads people to believe debt will work itself out. Or as is oft misattributed to Steinbeck: "... in America because the poor see themselves not as an exploited proletariat, but as temporarily embarrassed millionaires."

Arizhel 10y ago
As an engineer, boom/bust cycles like this remind me of system instability with insufficient damping. It doesn't work itself out; the oscillations get larger and larger, and then something breaks. Remember the Tacoma Narrows Bridge?
- TulliusCicero 10y ago
  But the oscillations aren't getting larger. The great recession sucked, but it was nowhere near as bad as the great depression.
  - Arizhel 10y ago
    They are getting larger. You're looking too far back. After the Great Depression, policies were enacted which served as dampers to improve system stability. They worked for quite a while. But eventually these policies were eroded or repealed, and other societal factors came along which degraded stability, so the oscillations picked up again, and grew larger and larger (think 80s S&L crisis, '00 dot-com crash), culminating in the '08 recession. Now we're going to have a much bigger one with Trump and the GOP in office. If this one doesn't cause a collapse, the next one will.
    - TulliusCicero 10y ago
      The dot com crash was big for the stock market and for the tech industry, but it wasn't a really big recession; it barely touched economic fundamentals, just look at GDP. Personally I doubt the next recession/slowdown will be anywhere near as big as 08, but I guess we'll see.
      - Arizhel 10y ago
        We always have recessions when there's Republicans in power (I'm not sure why voters haven't figured this one out yet); there was one with Reagan, one with Bush I, one with Bush II, etc. Trump and the current crop of Republicans are advocating very extreme changes (namely trade restrictions), so I think we're likely to have a more extreme recession because of this.