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Financial Meltdown Good or Bad?

Discussion in 'BlackHat Lounge' started by jonshannow, Oct 17, 2008.

  1. jonshannow

    jonshannow Junior Member

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    How do you think the current financial crisis will affect us separating suckers and their money.

    Will it be good or bad? More people might take more risks They might sit on their hands?

    What do you think?
     
  2. Gogeta

    Gogeta Power Member

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    I guess alot more people will buy online due to fuel costs. I think it could be good for us.
     
  3. mattstrike

    mattstrike Regular Member

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    Not to seem too pedantic, but any time that there are major market shifts (up or down) there will be winners and losers.

    Most consumer industries will be hit hard by the crisis, because consumer spending is going down. Most Internet Marketers are going after consumers and consumer dollars one way or another, so in that sense, it is bad for people that make money online, because there are less consumer dollars to go around.

    As it has been pointed out, however, the economic downturn does not merely mean that people spend less, but also that they will spend on other things (used instead of new, knockoffs instead of the real thing, etc.)

    I'm no economist, but I do know that most economists believe that casual dining (places like Applebee's and Outback Steakhouse) establishments took the hit first, when gas prices first started going up, because it was easy for people to substitute fast food, cheap(er) local ethnic food places, or a trip to the store - it took the same amount of time, but cost less.

    Of course, for people selling 30K diamond studded cell phones to people with more money than brains (or fashion sense), they probably don't need to worry. People with that kind of disposable money won't even notice what's happening to the economy.
     
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