Economy Meltdown Special: PS3 Attitude Predicts The Next Platinum Range

Silver360 - 449 days 11 hours ago

is where is Sony going to make up for that lost money? HDTV sales will be slowing down, people don't have enough money to buy food and pay their mortgages much less buy electronics. In this time of a fiscal down turn, Sony is expected to throw away money by cutting the price of the PS3? It might be a good idea if people were guaranteed to buy more games, but this is an economy where you will only buy the great games and not the good or mediocre. Game sales need to be high in order to offset a price drop. I just don't think one will happen unless MS is cleaning their clock and they have no choice.

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AAACE5 - 449 days 10 hours ago

Only someone who isn't paying attention to what's going on in the world, wan can't see what lies ahead, would vote for McCain/Palin!

I don't care if you like the idea of having a black president or not... this is more important than that! I would vote if it was Hillary Clinton, Joe Biden, or any democrat for that matter!

For those who don't understand politics, i'll make it simple for you. The republicans are represented by the elephant symbol, meaning they are the rich ones who have a bank account with at least $100,000 own property, businesses, stocks, etc. Do you have any of that? Not your parents... you?

The democrats are represented by the mule, meaning they are the working class(a.k.a. the working jack*ss) who have to go to work everyday and have no say-so as to what happens next! They have to make car payments, pay rent/mortgage, own a business but are still playing a balancing act because that could go sour at any time, etc.

John McCain owns 6 houses... How many do you own?

Alot of times people get tricked into thinking they are something they aren't!

All politicians lie! You just vote for the one who lies more in your favor!

My advice is, put the alcohol/drugs down and watch CNN, MSNBC, or any other news broadcast to see what the republican party has done for us so far. Hopefully that clears up your clouded judgement!

And please don't fall for Sarah Palin's charm! The whole thing is sickening cause McCain picked her to attract the voters who were pissed about Hillary Clinton not making it! And SP is just playing on peoples emotions!

This is not a High school election! The people you vote for are important in reguards to what happens next!

Our country is almost $10 trillion in debt! You may not see it now, but hopefully you start taking a look at how much things have changed while having repubs in office!

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PirateThom - 449 days 10 hours ago

If you look at the comparative console prices in Europe against the US, you'd see where Microsoft and Sony are making their money.

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Ashta - 449 days 8 hours ago

Allow me to educate you on a few things about politics and "the people who got us in to this mess".

1) The symbol that each party carries has absolutely no bearing about what they represent or how the operate government. As for what the Elephant would represent? The Elephant was most commonly used in the ancient days as a means of carrying heavy and otherwise immovable stock from one place to another over dangerous terrain. Mountains, Rivers, valleys, and various climates were ideal for using Elephants because they are very durable, very strong, and very big. In the course of their use by humans the Elephant has been a far more efficient and helpful means of getting work done than a Mule. However, as I said, the symbol really holds no bearing on the political parties means of governing.

2) As for what the Republican party has done for us so far? Well, for one, they've cut taxes repeatedly and they, usually, strive to reduce the footprint of the government by shrinking it. They have advanced the idea of Individualism and Capitalism which are two of the very ideals that this country was founded upon.

3) Speaking about the economy for a moment? Why don't you tell everyone who got us in to this mess with the housing crisis and the banks failing left and right due to bad debt? You won't tell them? Ok, I will.

It all begins with a piece of legislation called the "Community Reinvestment Act". This piece of legislation was created by the Carter administration because they felt it was "unfair" that so many people in the country were renters instead of homeowners. They instituted a law that would ease the requirements for large mortgage loans allowing more people to own a home. The way the Carter administration did it allowed more people to own homes, but foreclosures began to rise as well due to many people taking out loans they couldn't pay back, so the credit markets clamped down again and stopped giving out home loans to unqualified people.

HOWEVER, in 1995 the Clinton Administration drastically revised the CRA (community reinvestment act) and placed numerous clauses in the legislation that made it impossible for banks to DENY home loans. Fannie and Freddie (which are Government Sponsored Enterprises) would guarantee loans to the private banks of the nation, but at the same time the government would threaten the private banks with lawsuits and penalties if they denied loans to low-income (read POOR) buyers. Private banks were being forced by the government to give out $200,000 dollar loans and UP to unqualified and undeserving people who had no means of ever paying back these extravagant loans. SO, the number of foreclosures and bad loans began to pile up and eventually the private banks were collecting billions of dollars in bad debt. However, Fannie and Freddie continued to guarantee these bad loans despite the fact that Fannie and Freddie knew they were worthless.

In 2003 the Bush Administration (and the GOP) pushed forward a piece of legislation that would have brought more oversight and reform to the problems with Fannie and Freddie and it would have allowed the government to crack down on all of the bad loans that the GSE's were still trying to pass off to private banks. The Democrats blocked the legislation and said, in numerous hearings, that "there was nothing wrong with Fannie and Freddie".

In 2005 McCain co-sponsered a bill that would have, once again, created an oversight committee to try and fix the problems of Fannie and Freddie which would have avoided this economic collapse due to the billions of dollars in housing debt that every bank was carrying.

The Democrats blocked that too.

Now, here was are, on the verge of economic collapse and the Democrats have the NERVE to blame it on the Republicans? The funny thing? people like you believe them when they point the fingers and blame.

While your at it! Why don't you look up how much money in kick-backs and contributions your man Barack Obama was getting from Fannie and Freddie's nefarious business practices. It was upwards to $120,000 and he had only been in the senate for two years. Hmmm, i guess corrupt chicago politics is the type of "hope" and "Change" that he was talking about.

Next time you need to study up a little bit before you come in here and spout off your retarded political rhetoric. Because when you DO then people who are intelligent and very knowledgeable in the subject will come in here and school you.

Kinda like I just did.

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PimpHandStrong - 449 days 8 hours ago

your wrong
during hard times where travel and going out cost more and more money ppl will start to nest!

Beer and food will cost more moeny!
TV's will be bought!

The economy slowdown will help certain sectors of industry! One big one will be home entertainment sector and food distributors

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ADD ON: Ashta
you did a very good job of copy and pasteing and please add one thing
Fannie May was created in 1939!

please add this also
This is the 6th time in American history that the home market has been responisable for a stock crash

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ADD ON: Silver
You do understand America still has one of the lowest unemployment rates in the world right? I think its at 6% now. When i bought my home 9 years ago when i was 25 it was 3-4%! So yea times are harder and the ppl that cant afford the loans they signed for are not the same ppl that will be buying stuff for there homes! I and many of my home owning friends are in good shape! Its the ppl that bought a home with no money down and didnt get a fixed rate are screwed because they WHERE STUPID

btw Sony is doing fine! Sony is not a bank! If anyone should worry it would be MS (why not flame u). They where the ones that paid out a 1.2 BILLION service plan and charge to play online!

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Silver360 - 449 days 8 hours ago

Do you understand broke? Look at the unemployment figures 700,000 new applications for unemployment since January. People can't pay for their homes where will they get money to nest? There are no longer any safety nets. Finally, Sony can't afford to lose anymore money and still please it stock holders. Remember they are a business first.

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Ashta - 449 days 7 hours ago

A few points:

1) I never said that Fannie Mae or Freddie Mac were created any other date other than 1939. I was specifically talking about the Community Reinvestment Act which was created in 1979. Fannie and Freddie, however, were instrumental in ENFORCING the CRA because of their purpose. Which was to guarantee large loans to private banks in the credit markets. However, even after the bad debt was piling up after mortgage after mortgage was being defaulted on and foreclosed they were STILL forcing private banks to lend to undeserving and unqualified people because they were "guaranteeing" all of those loans. Yet, they knew they were worthless to begin with.

2) I did not copy and paste anything. I typed out and wrote every sentence of that post on my very own and It sounded so well documented because I've done my homework.

3) The reason why the Home Market has been responsible for market crashes is because of the people with bad-credit TAKING OUT LOANS. Banks need to stop lending out cash to everyone just because they can sign their own name. If a person has bad credit then they don't need loans. Period.

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r2kcipher - 449 days 5 hours ago

@ashta u should consider doing your homework on McCain/Palin also.. they are both retarded.. it shouldn't take long for anyone to figure that out.. after watching some of McCain's speeches.. i got the impression he supports Bush's "police the world campaign".. which is the is the reason for the debt..

Obama has his own issues.. mainly bad votes which contradict what he says now.. and he also supports the war in Iraq..

i planed on voting for Ron Paul.. if u know nothing about him than look him up on youtube.. he also appears on cnn once in a while.. i have been following him for 2 years now..

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DaTruth - 449 days 3 hours ago

Democrats couldn't have blocked anything in 2003, they didn't have the presidency, majority in the house or the senate.

Also, big banks didn't have to invest all their money into the bad loans, that's why Fannie and Freddie aren't the only ones suffering. They made horrible gambles on stupid risks and told people to take out second(subprime) mortgages to buy new cars and flashy crap. 100 commercials about home equity.

Oh, and Ron Paul is the sh1t!!!

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XXXCouture - 449 days 11 hours ago

^^^^ are you seriously gonna vote for mccain/palin? are you one of those soccer moms?

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slave2Dcontroller - 449 days 4 hours ago

Then look at today! The market plunged below 800 points and McCain is pointing the finger at Obama instead of the Fat Cat CEO's and their golden parrachutes. This dude McCain is a joke.

He even went as far to say that "He didnt just show up out of no where" when talking about his political experience vs. Obama and I'm like HELLLOOOOO!!! You selected Sara Palin as your VP who DID just show up out of no where and is no where near qualified to run the country in the event that his ticker does indeed stop ticking(God Forbid).

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