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Atiranjeet
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Posted on 06-29-11 8:13
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Hey folks,
I saw a news today on CNBC that the president was talking about the US debt reaching the culmination point by the first week of August. Some were indicating that it is the inception of the Second Recession.
Do you guys have any hint about it ? Is it time for ' lay off ' again ?
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dalle_momo
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Posted on 06-29-11 8:23
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Yeah that's what I heard as well.. my brother from Janakpur told me. Is that what you heard jeet ?? And i heard Salman khan's dead as well.. is that true as well ??
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Atiranjeet
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Posted on 06-29-11 8:38
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dalle_momo
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Posted on 06-29-11 8:51
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I don't see a world recession or starting of inception in that article.... but trust me bro.. Salman Khan died.. I can't give you link as you gave me because it's in Nepali Newspaper...
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TM
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Posted on 06-29-11 9:48
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There may be millions of Khans and thousands of Salmans. I am certain a guy named Salman Khan died somewhere recently. 
Last edited: 29-Jun-11 09:57 PM
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chaurey
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Posted on 06-30-11 12:26
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save some gold hallelujah!!!
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Stiffler
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Posted on 06-30-11 12:44
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Recession and Depression are actual economical terms meaning they have some way of measuring the phenomenon (some idea look into GDP, others look at other indicators). As far as we know, we had a recession and we are out of it already but we might be going back in...we might only know after we are already into it though.
Like somebody said, "A recession is when your neighbor loses his job. A depression is when you lose your job"
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MN_Nepali
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Posted on 06-30-11 1:14
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For depression the unemployment needs to be at around 18% for three years (called as stagnation or stagflation depending which part of the world you went to school).
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Atiranjeet
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Posted on 06-30-11 1:39
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Brothers,
I don't know whether it is recession or depression.
But the US debt is already near to 15 trillion dollar. It is expected that the US debt will reach its ceiling in the coming August.
That means US is running out of borrowed money.
They say that it is like an atom bomb waiting to explode.
Whether the explosion would be menacing or not but in the coming 5 years we may witness some major changes in the global economy. Also, recently I watched a show on TED that the chinese economy may equalize to US economy by 2016. God bless America ~
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Stiffler
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Posted on 06-30-11 2:34
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Brother
US has already exceeded the debt ceiling set at around 14.3 trillion dollars; as of now the total debt accumulated is around 14.6 trillion. August is the date when US will go "default" on the debt if the ceiling is not raised as w/o raising the ceiling (hence asknig for more) we can't pay the creditors nothing.
But I will put million dollars claiming that the ceiling will be raised on time, before August 2nd.
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