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Date: 10/23/08 12:19 PM

52 Responses to MasterCard: The Official Card of the Depression

  1. Profile photo of davymid
    davymid Male 30-39
    12140 posts
    October 23, 2008 at 5:05 am
    Link: MasterCard: The Official Card of the Depression - Is the American economy completely screwed? You be the judge, I-A-B!
  2. Profile photo of doodlydoo727
    doodlydoo727 Male 18-29
    437 posts
    October 23, 2008 at 12:23 pm
    the derpression is wat this country needs to toughen it up a bit
  3. Profile photo of moojuiceman
    moojuiceman Male 18-29
    924 posts
    October 23, 2008 at 12:23 pm
    yes it is, but so is the british, so i`m screwed too :(
  4. Profile photo of coconutnut
    coconutnut Male 18-29
    387 posts
    October 23, 2008 at 12:24 pm
    ouch. It took me by surprise when he said "the second great depression" I hope this one won`t be as bad as the 1930`s.
  5. Profile photo of jmann900
    jmann900 Male 13-17
    43 posts
    October 23, 2008 at 12:30 pm
    The song caught my attention first. But the video itself was worth the attention.
  6. Profile photo of _Perfection_
    _Perfection_ Male 18-29
    1788 posts
    October 23, 2008 at 12:31 pm
    If you listen to any nobel prize winning economist or any such people, they all say this is a HUGE deal. Basically, yeah it could be the next great depression. Unfortunately for everyone who`s not in the USA, that means you`re in trouble too. If one of the major economies of the world crumbles, everyone suffers.
  7. Profile photo of Nidonemo
    Nidonemo Male 18-29
    9308 posts
    October 23, 2008 at 12:31 pm
    Our monetary system was built to fail horribly...>_<
  8. Profile photo of Lord_Savior
    Lord_Savior Male 18-29
    177 posts
    October 23, 2008 at 12:38 pm
    Doodlydoo, are you drating stupid?
  9. Profile photo of AGit
    AGit Male 30-39
    995 posts
    October 23, 2008 at 12:39 pm
    Not to worry, we`ll use the same tactic as last time... and all will be well after World War III
  10. Profile photo of davymid
    davymid Male 30-39
    12140 posts
    October 23, 2008 at 12:40 pm
    BTW, just because I (European) posted this, it is NOT a gloat at the American economy (we`re feeling the burn in Euro-land too), it was just meant to be thought-provoking. Just thought I`d clear that up.
  11. Profile photo of blackbird7
    blackbird7 Female 18-29
    238 posts
    October 23, 2008 at 12:41 pm
    "Is the American Economy completely screwed?" In a word- yes.
  12. Profile photo of blackbird7
    blackbird7 Female 18-29
    238 posts
    October 23, 2008 at 12:42 pm
    And the rest of the world isn`t doing so great either.
  13. Profile photo of MeMcMo
    MeMcMo Female 18-29
    91 posts
    October 23, 2008 at 12:46 pm
    Yeah, pretty much everyone`s screwed. Well, it was bound to happen sometime. May as well be now.
  14. Profile photo of Rat5Rule
    Rat5Rule Female 13-17
    930 posts
    October 23, 2008 at 12:50 pm
    Nicely done. ...Wait.. Why`s Davymid red? O_o
  15. Profile photo of davymid
    davymid Male 30-39
    12140 posts
    October 23, 2008 at 12:54 pm
    Because I`m f*cking awesome, Rat.
  16. Profile photo of Rat5Rule
    Rat5Rule Female 13-17
    930 posts
    October 23, 2008 at 12:58 pm
    Agreed.

    Is Opie still Giraffe-orange?

    And... hehe FancyLad isn`t gold, he`s yellow. :P

  17. Profile photo of deathxtra
    deathxtra Male 13-17
    2791 posts
    October 23, 2008 at 12:59 pm
    his name is drenched in the blood of his victims.
  18. Profile photo of Dr_Rugs
    Dr_Rugs Male 18-29
    99 posts
    October 23, 2008 at 1:00 pm
    100% accurate.
  19. Profile photo of davymid
    davymid Male 30-39
    12140 posts
    October 23, 2008 at 1:02 pm
    True, deathxtra. Dripping in the blood of F1RsT!1!one!! posters, spammers and pornbots. It`s like Gears of Friggin War round here, I swear.
  20. Profile photo of habbazoot
    habbazoot
    2116 posts
    October 23, 2008 at 1:03 pm
    we might be in the second great depression. stocks are at there lowest since the 30`s
  21. Profile photo of Rat5Rule
    Rat5Rule Female 13-17
    930 posts
    October 23, 2008 at 1:04 pm
    Davymid - Gears Of Friggin War is out soon... <Oils chainsaw bayonet>
  22. Profile photo of itsallfake
    itsallfake Male 30-39
    474 posts
    October 23, 2008 at 1:09 pm
    just a thought for you... if the entire worlds economy sinks and the current digital number isnt worth the same digital number it was worth 2 years ago, are we really hurting? If currency and stocks drop globally, causing the price of physical commodaties to go down, and the wages to not go up, isnt this just leveling it all out? The only way i can see a real problem is if suddenly, oh noes, the american economy tanks, but oil continues to rise (which it`s not) and metals and plastics and every tradable commodoties rises to the point that no one can buy or trade anything i could see a problem, but it`s not. The price of oil is falling because Americans are their best and biggest customers, and as much as the people over in the middle east hate us, i notice that their oil tycoons are adjusting their prices so american can continue buying...
  23. Profile photo of davymid
    davymid Male 30-39
    12140 posts
    October 23, 2008 at 1:29 pm
    vv Fake, the oil tycoons in the Middle East are not "adjusting their prices", they have very little control over the oil price (certainly a lot less than they would have us all believe). The global oil price is fundamentally controlled by the fluxes of supply and demand, same as any commodity. It`s erroneous to think of a group of oil sheiks sitting around and deciding what today`s oil price is going to be...
  24. Profile photo of audiosncracy
    audiosncracy Male 18-29
    185 posts
    October 23, 2008 at 1:30 pm
    Basically... if you guys wanna know just how drating screwed we all are... check out this vid:
    http://video.google.com/videoplay?docid=...
    Skip to the 5 minute mark for the really important part, as it starts with a long winded speach, the vid is 2 hrs long, but if you just watch for 3 minutes you`ll get the just of it.
    But for those of you who don`t want to... i`ll paraphraze here:
    The united states needs money,
    so it contacts the Federal Reserve and says I need 10 billion dollars,
    the FED then replies, ok give us 10 billion dollars in US bonds.
    So the exchange takes place and now the U.S. has 10 billion dollars... created from
    ABSOLUTELY NOTHING! THIN AIR!
    The new money siphons off it`s value from the original money.
    Government bonds are essentially debt. They promise that they`ll repay the federal reserve.
    That`s just the tip of the iceberg though, I
  25. Profile photo of audiosncracy
    audiosncracy Male 18-29
    185 posts
    October 23, 2008 at 1:34 pm
    I`ll end with interest... because our money is essentially the principle on a loan from the federal reserve, if you add interest to that it GUARANTEES that we`ll always be in debt, and it also GUARANTEES bankruptcy, and it also increases the gap between the wealthy and the poor. Think when people go bankrupt the banks seize their property.
  26. Profile photo of hehehenerd
    hehehenerd Male 13-17
    5973 posts
    October 23, 2008 at 1:43 pm
    I don`t think its going to be as drastic as the depression (I hope) But we are ceartainly going through some tough times
  27. Profile photo of hehehenerd
    hehehenerd Male 13-17
    5973 posts
    October 23, 2008 at 1:44 pm
    And yes, we are red from all the post we have murdered, we just got tired of washing off every time so we gave up the cleanliness of orange
  28. Profile photo of Tonyjet
    Tonyjet Male 18-29
    3298 posts
    October 23, 2008 at 1:56 pm
    George Bush has single-handedly put this great country into shame

    illegal immigrants are going back from were they came from.. am serious

  29. Profile photo of Tonyjet
    Tonyjet Male 18-29
    3298 posts
    October 23, 2008 at 1:58 pm
    "doodlydoo727
    Male, 13-17, Eastern US
    116 Posts Thursday, October 23, 2008 12:23:00 PM
    the derpression is wat this country needs to toughen it up a bit"

    is that a quote from McCain... or Bush.. which one??

  30. Profile photo of MrFibbles
    MrFibbles Male 18-29
    311 posts
    October 23, 2008 at 2:19 pm
    itsallfake
    you dont get why this is important at all.
  31. Profile photo of Dakkar
    Dakkar Male 18-29
    1256 posts
    October 23, 2008 at 2:54 pm
    I still support the Laissez-faire economy. Let the market do what it wants to do.

    There will be ups and there will be downs, but the ups still help and the downs, while a bit more frequent, are not devastating.

    A note on the video, it seemed to go off on Bush a good bit, and while he shares the blame I cannot ignore the numerous American citizens spending outside of their means, charging everything and taking out ridiculous loans. What a culture we live in...

  32. Profile photo of kalela
    kalela Female 18-29
    195 posts
    October 23, 2008 at 3:56 pm
    The only thing that really provoked my thought was how this guy talked. You could hear every time he licked his lips or cleared his throat. It drove me to distraction x_X
  33. Profile photo of thesimpsons
    thesimpsons Male 18-29
    168 posts
    October 23, 2008 at 4:46 pm
    that was freaking awesome
  34. Profile photo of opiebreath
    opiebreath Female 18-29
    15774 posts
    October 23, 2008 at 6:07 pm
    Great. GOD DAMNED GREAT. Right as I`m entering adulthood, trying to pay for college and getting a job, paying taxes, doing bills, this sh*t has to happen?

    THANKS, OLD PEOPLE. THANKS FOR NOTHING.

    ...I`m bitter.

  35. Profile photo of hellervon
    hellervon Male 30-39
    274 posts
    October 23, 2008 at 6:10 pm
    Yep, there goes my 401K. I think that the people that received all that money should be shot in the head with a 22.
  36. Profile photo of mrpopenfresh
    mrpopenfresh Male 18-29
    1036 posts
    October 23, 2008 at 7:06 pm
    Heh, thats great. Kinda show spending in a capitalistis world in a nutshell.
  37. Profile photo of Lionhart2
    Lionhart2 Male 40-49
    8306 posts
    October 23, 2008 at 7:46 pm
    > Tonyjet
    > illegal immigrants are going back from were they came from

    You mean... all Americans are heading back to England, handing the country back to Native Americans?

  38. Profile photo of astridhaze
    astridhaze Female 18-29
    738 posts
    October 23, 2008 at 8:29 pm
    Yeah.

    Kind of sums it all up.

  39. Profile photo of AndrewST
    AndrewST Male 18-29
    181 posts
    October 23, 2008 at 9:28 pm
    Yea, my father in-law lost $4,000 from his retirement plan since yesterday do to stock loses.

    Fun time to be an American!

  40. Profile photo of sgdp
    sgdp Female 18-29
    553 posts
    October 23, 2008 at 10:01 pm
    About time this was exposed more. The dollar is worth around 3 cents right now. Brazil and Argentina just abandoned our dollar..and..here`s the shocker:

    Just before we invaded Iraq, Saddam Hussein decided to go against OPEC and said, "Screw you, America. Your dollar sucks. I`m not letting your monetary policy drag my country down."

    Hmm...makes you wonder...

  41. Profile photo of tenshin
    tenshin Female 13-17
    75 posts
    October 23, 2008 at 10:45 pm
    =/ *sigh* my generation is sooo screwed. yay!
  42. Profile photo of Apple_18
    Apple_18 Female 18-29
    475 posts
    October 24, 2008 at 1:26 am
    i think we need to STOP using credit cards, and start using cash more. that way you arent borrowing the money and have to pay it back plus more, you have it right there, in hand...but then again idk...this money things sending me thru a loop. :-/
  43. Profile photo of kairobert
    kairobert Male 18-29
    1623 posts
    October 24, 2008 at 8:03 am
    Capitalism fails.
  44. Profile photo of IslandLotus
    IslandLotus Female 18-29
    410 posts
    October 24, 2008 at 8:45 am
    Why was there an old 90`s Gap commercial spliced throughout? They couldn`t find and authentic swing dancing footage from the 30`s?
  45. Profile photo of Majase
    Majase Male 40-49
    249 posts
    October 24, 2008 at 7:09 pm
    I haven`t had, or used, a credit card in over a decade. Yea, it was hard, real damn hard to get accostomed to, and I did without many things; but worth it is an understatement. I highly recommend it.

    Sit down and realistically tabulate all the extra expenses in various "fees", penalties and interest you pay out in one years time (while still never paying off the card) and you may be shocked.

    (steps down off slippery soapbox)

  46. Profile photo of Kasu-Chan
    Kasu-Chan Female 18-29
    283 posts
    October 24, 2008 at 8:33 pm
    Credit cards can be either a very good thing or a very bad thing...

    When you have a job, buy something like one tank of gas/month on it, and then pay it off, it`s a very good thing and helps your credit out.

    When you lose that job and are forced to rely on these cards as a way to eat, pay bills, and find a new job, they`re not so good to pay off when you finally find said job a year later.

    Essentially: *if* you know you can be responsible with them, go ahead and use them, they`ll help you. If you know that you`ll just think of it as extra money you have the option to use and know you *will* use it, do yourself a favor, if one comes in the mail, cut it up before you even use it.

  47. Profile photo of steve41high
    steve41high Male 18-29
    1153 posts
    October 25, 2008 at 5:29 am
    tuuuune
  48. Profile photo of Filipino916
    Filipino916 Male 18-29
    494 posts
    October 25, 2008 at 6:52 am
    This is why I have no credit, but awesome investments due to dollar cost averaging. It`s so sad because I took a Millionaire out to lunch one time and he told me "why worry about having good credit? It`s stupid. What`s the first step to having good credit? Being in debt and paying interest. Wouldn`t you rather earn it through stocks, bonds, or mutual funds instead of pay it?" That`s why I invest heavily into my SEP IRA instead of having some stupid credit card.
  49. Profile photo of RyanF701
    RyanF701 Male 18-29
    2486 posts
    October 25, 2008 at 12:17 pm
    I`m never going to use a Credit Card, I`m going to own one.. JUST in case something bad happens, but other than that.. no way. Too many bad things can happen.
  50. Profile photo of MMCD
    MMCD Male 18-29
    38 posts
    October 25, 2008 at 12:52 pm
    americans will be the new polish people here in the uk =P not meant racistly

    but seriously now we`re gonna have americans taking our jobs rather than the pols, sure the might speak better english (only slightly) and sure they`ll probably work harder, but the majority, (from my experience and extensive knowledge of teh internetz!!!11), will moan about the wide range of cultures in the uk, put everyone into a panic cause of the threat of terror and finally sit on their asses and hope for the best :)

  51. Profile photo of Vagrant86
    Vagrant86 Male 18-29
    2556 posts
    October 25, 2008 at 6:26 pm
    more of a can of worms than anything interesting.
  52. Profile photo of Abacab2112
    Abacab2112 Male 18-29
    433 posts
    October 26, 2008 at 9:47 am
    kairobert
    Male, 13-17, Europe
    843 Posts Friday, October 24, 2008 8:03:49 AM
    Capitalism fails.
    ------------------
    Oh, you`re one of those people that thinks the United States actually has true capitalism right now?

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