Is the U.S.heading for a meltdown?

[gearhead]

Even if I took economics I can't say I am much of one. Just a question to the ones who understand things related to economy out there or have a grasp of it - Is the U.S. going to have some sort of meltdown?

Something does not feel right with the way things are running there lately. But I could be wrong. Why is the Euro not devaluing? Is China poised for something?

Any thoughts to share?

[Flagg]

I sure hope not. Wawa tayo lahat if that happens.

[safeorigin]

maraming magveveto na OFW nyan.

[theveed]

I hope not, but signs seems to be pointing that way... tapos kung magcorrect pa valuation ng Yuan sa China laking impact din IMO...

[gearhead]

I hope not, but signs seems to be pointing that way... tapos kung magcorrect pa valuation ng Yuan sa China laking impact din IMO...

Am having a strange gut feeling about this too. Was also talking to some real estate people and the FilAms they normally rely on to buy local real estate are pulling out of their reservations. Would like to hear how it is going in the U.S. too from our kababayans out there. Am sure the weak dollar affects them tremendously.

[mikey177]

This thread on the BoG Forum, started by a seasoned financial analyst and professor, seems to suggest an imminent meltdown.

[Monseratto]

Credit Card fiasco ang suguradong susunod. The top banks may not be be able to take another round of defaults

[jeffrocks]

I don't think so...they will not succumb to that,if you take a look of how they spent so much; from space
explorations[NASA],undersea explorations,armaments and weaponry upgrade/inventions[nuclear aircraft carriers and subs etc]including wars, it looks like they weren't bother at all of what's going on.
The Federal Gov't seems very prepared on situation like these long time ago and they have plenty of solutions.One example,their oil reserves at hindi nila ito masyadong ginagamit,bili sila nang bili ng oil sa iba,alam nila na ang black gold sa ibang bansa will not last up to 150 years from now.
Naranasan din nila ang "The Great Depression" during 30's at bagkus lalo pa
silang nagpupunyagi upang umunlad.Kakaiba ang kanilang characteristics.
I saw one small automotive shop here in our area,grabe sa hi-tech na mga gamit baka talunin pa ang casa sa pinas,the mere fact na maliit na shop lang ito.
People here are having their good time which seems no end...

[safeorigin]

sure they have "solutions" of some sort. they could sell everything in the federal gold reserves for a millenium long supply of a 6-pack-can-'o-budweiser{not sure bout the spelling}.

[mikey177]

Much of the affluence and revelry in America is being funded by domestic and foreign borrowing. Google "US debt" and see how much it stands at today.

[froshie1]

Siguro pero kung mangyayari iyon, hindi lang sila magiging kasing lakas sa ngayon pero hindi naman din sila babagsak na parang status ng Pilipinas. For as long as the Feds are patching up things steady steady pa yan hehehe. Tignan mo nangyari sila ngayon ang World's Competitive Economy: http://in.reuters.com/article/busine...30250520071031

[Jun aka Pekto]

If the US does head for a meltdown, it's bad news for all sorts of imports especially cars. It's happened in the past when times were hard and "Buy American" was the rule. You would not want to be seen driving a "foreign" brand. Guess, we'll keep our Ford a little longer just in case.

[m_ron]

With the subprime loan fiasco,high oil prices,home foreclosure,CPI,WEAK dollar.Dow jones and consumer spending are down. I hope we're not heading into recessions.As long as the feds cut the rates and inject more billions of funds to the banking system.

[frenchtower]

Is the U.S. heading for a meltdown? Perhaps.
Is it going to happen soon? No
Will the U.S. (and its allies) allow this to happen? Of course not.

The complexities of the United States economy is as complex as any economy around the world. All economies have its high and low times. And right now, the US is experiencing a bump. A slowdown in economy is more precise than saying that the US is at its phase towards folding up. Remember, the World Bank is always headed by an American, IMF is always Western European, and ADB is always Japanese. As far as I know, if ever it comes to that stage, the entire world we be severely affected in a big way. Just my 2 cents.

[v6dreamer]

Am having a strange gut feeling about this too. Was also talking to some real estate people and the FilAms they normally rely on to buy local real estate are pulling out of their reservations. Would like to hear how it is going in the U.S. too from our kababayans out there. Am sure the weak dollar affects them tremendously.

No its not. I myself own two real estate property here in the U.S never felt any impact or they so called recession. I believe this only for those people overseas that constantly send thier money to the Phils.

.

[Jun aka Pekto]

No its not. I myself own two real estate property here in the U.S never felt any impact or they so called recession. I believe this only for those people overseas that constantly send thier money to the Phils.

.

There is an actual home/real estate crisis in the US right now. I just happen to be in one of the states (AZ) that aren't affected. Other states doing fine are NV, UT, and the other Rocky Mountain States.

[CVT]

IMO, the economy of the US is resilient enough to withstand such external and internal pressures and is ready to re-invent itself anytime.... (They're just waiting for the next election....)

4909:coffee:

[uls]

Meron na signs of slowdown.

Hindi na basta basta nagpapautang ang mga banks nila.

the banks wont even lend money to each other coz they dont know if they will be paid back. And the banks are hoarding cash coz they have done some very stupid things like buying mortgage-backed securities which are now totally worthless. They are taking billions in losses.

If banks wont lend to each other, lalo na they wont lend to consumers.

Now the US Central Bank has stepped in making money available for banks to borrow.

The Fed is flooding the financial system with cash.

No wonder the USD keeps on losing value. They is way too much USD in the world and the FED is pumping out more.

China already has 1.3 TRILLION USD in their banks. What the hell are the Chinese gonna do with 1.3T USD?!

Kung natatakot ako bumaba ang value ng $20 sa wallet ko, pano pa ang China? hehe
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Americans have been living beyond their means for a long time. And it is catching up to them.

They have borrowed money using their homes as collateral to finance their lifestyles. They cant do that anymore coz the banks wont lend them money na.

Many have bought homes thinking they can resell them later for profit. They are simultaneously paying multiple mortgages. Now the value of homes have dropped. They are stuck. They are so screwed.

Mortgage defaults, credit card defaults. Rising food prices, fuel prices...

Expect the first few months of 2008 to be bad for the States.

[uls]

Am having a strange gut feeling about this too. Was also talking to some real estate people and the FilAms they normally rely on to buy local real estate are pulling out of their reservations. Would like to hear how it is going in the U.S. too from our kababayans out there. Am sure the weak dollar affects them tremendously.

The Fil Ams are cancelling their reservations here coz meron sila cash flow problem.

madami natamaan ng subprime.

[zero]

mmmm.....
kaya siguro nagtaas na rin sila ng singil sa visa application dito by $31.
kailangan na nila gumawa ng bagong income?