Major Recession or a New Depression?

I am a Kiwi and we moved to Buenos Aires almost five years ago after the pesofication. Basically, we live between here, Panamá and LA with a little Rio thrown in for good measure.
Yes, parts of Lat Am are dangerous and yes you need to exercise common sense at all times.
We have many wonderful friends in US and they are now coming to see what I have been banging on about for the last 4-5 years.
Mostly though they are still in shell shock mode, a numbing disbelief as it were.
Those of them who have visited us in BA cannot believe how well we live and how charming and gracious the locals are.

I feel that life is for living off the front foot whereas the western govts are trying desperately to have us play the game off the back foot (cricket jargon)

regards
f9

 

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SouthAmerica: Reply to trendmomentum

You said: “Well, I am not too worried about it. I do not believe it will happen in my life time, just another market correction for now.”

All I can say to you is that it must be nice to be in La La Land and not be aware of the revolution that is happening around you.

Read the following article and you will realize that there is a massive transformation going on right under your nose - and you will also realize that it is not business as usual.

Brazzil Magazine - Wednesday, September 06, 2006
“While the American Dream Is Outsourced Brazil Drives the World into the Future”
Written by Ricardo C. Amaral

http://www.brazzil.com/content/view/9684/78/


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Maybe before this becomes too personal, I should just point out that I am based in Euroland (not La La Land even though I do let me children watch the Teletubbies from time to time) and my views on this issue are as impartial as it gets.

Sorry mate, no hidden agenda.

Regarding your article. I think you have enough info in the comments left by your readers for you to digest, before I chip in any further.

Enjoy.

 

The US and the US Economy were in balance, in surplus and the powerful middle class (which actually makes the US, what it is, not the wealthy, but the middle class) were not in this condition when these fellas took command in 2000.

Further quoting from your article:

Since December 31, 1980 the Republican presidents added $ 10 trillion dollars to the cumulative US national debt, and the Democratic president added $ 1.6 trillion dollars. The Republican administrations added 87 percent of the new US national debt, and the Democratic administration added only 13 percent of the new debt.

All Republican presidents starting with Ronald Reagan have had a complete disregard for sound long-term economic policy, and how their current policies would affect future generations. All these Republican presidents had one thing in common: they did run a very large credit card bill during their administrations, and they were leaving all these debt to future American generations to pay. Since December 31, 1980 the United States had only one fiscally responsible president - former president Bill Clinton - a democrat.



Saying nothing in the face of $100 bbl Oil is proof of their do not care attitude

 

I would like to move to Thailand, much better pussy.

 

small slowdown, nothing major at all.

 

'Since December 31, 1980 the Republican presidents added $ 10 trillion dollars to the cumulative US national debt, and the Democratic president added $ 1.6 trillion dollars. The Republican administrations added 87 percent of the new US national debt, and the Democratic administration added only 13 percent of the new debt.'

Who says US is going to pay this debt, in the last 5 years, US dollar has depreciated by roughly 50%...........Hahahahahahaha!

 

Hey Southamerica:

Let me ask you one question:

Are one of those computer nerds Hugo Chaves pays to surf the internet all day and bash the US?

A clear answer please, just yes, or no.

 

Just make sure it's not surgically constructed.

:eek: <-paying customer.

 

You're out of your mind man.

How old are you? 15, 16?

We're going into a recession, end of story. It's not an "if" scenario right now. Too many people sprung up from this last bubble to know or even understand what is going on. Keep them in the dark that's fine. They'll learn the hard way just like I did.

Those of you who say "we're not" are of a small group who are simply new to the game and haven't the experience to wipe your ass much less comment on the state of things in the US.

That pretty much sums it up.