Quote:
Originally Posted by mynameisjim
What you people who always come out of the woodwork in tough times and predict doom fail to realize is that a boom time can totally right the ship and there is always a boom period whether it be fueled by tech, housing, or whatever, it always comes because people are always looking to make money.
The tech boom of the 90's totally erased all of our deficits and got the whole country back in the black. People and companies got rich, paid more in taxes, and the budget was balanced.
There will be another boom period within the next 5 years and it will right the ship again. Then it will bust and all you doomsayers will come out again talking about how I should buy guns or start planting my own food or whatever because the end has finally come.
People think they sound like they have the inside line when they predict these doomsday scenarios but it makes you look like the weirdos that think the world is coming to end on a certain numerical date or because certain current events were predicted in the book of revelations.
Relax everybody.
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This is either ignorance, blind optimism, or both. We didn't have the various deficits in the 90s that we have now. We didn't have the extreme devaluation of the dollar that we have now. We didn't have the credit/financial crisis that we have now. We didn't have the real estate bubble bursting that we have now. We aren't producing anything. We are expanding the money supply(thanks Obama), and creating artificial demand through various failed stimulus programs and tax incentives. The doomsday scenario is the only logical scenario we have left. Unless this country starts producing more and consuming less, it's going to be over fairly quickly, and then new economic ideals will be created.