The Economy

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Re: The Economy

Postby OLDMD » 11 Jan 2008, 06:38

It's ALWAYS the economy! <stupid>

Now we are "retooling"? :sigh:

http://www.washingtonpost.com/wp-dyn/co ... newsletter
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Re: The Economy

Postby OLDMD » 11 Jan 2008, 19:00

No - the Obama campaign is NOT a "fairy tale" (as this article points out); however, if Bill focuses on the record - they better take him seriously too.

"Bill the Debater" is alive and well! ;)

http://www.huffingtonpost.com/huff-wire ... ton-obama/
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Re: The Economy

Postby OLDMD » 16 Jan 2008, 15:09

Harold Meyerson on this time around (Recession)
http://www.washingtonpost.com/wp-dyn/co ... newsletter

Basically what you've been saying all along AJ - this time isn't "normal" and the economy is anything but sound.
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Re: The Economy

Postby van » 17 Jan 2008, 01:51

Kia ora

Some background, makes interesting reading

http://www.rense.com/general80/tsu2.htm

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Re: The Economy

Postby OLDMD » 17 Jan 2008, 07:43

Thanks,Bill...that was a worthwhile, historical read! 8-)
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Re: The Economy

Postby OLDMD » 22 Jan 2008, 06:41

I wouldn't want to be working on Wall Street today!

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Re: The Economy

Postby AJRC » 22 Jan 2008, 07:34

Yeah, the UK stock markets are in a tail spin as well. The European and Asian markets are panicking at the thought that a US recession will lead to a global economic slowdown.

I wonder if there are any left who still think the US economy is doing fine?
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Re: The Economy

Postby OLDMD » 22 Jan 2008, 10:56

Undoubtedly...current media coverage is "people on the street are DELIGHTED about this morning's news"...

http://www.huffingtonpost.com/2008/01/2 ... 82614.html SURPRISE!

(I still have this great bridge to Brooklyn and Florida mangrove swamp for sale - anybody interested? Where is P.Taylor Barnum ?...alive and well and shopping on Wall Street for some new suckers to add to the exhibit... ;)

Have the Budget Committee hearing on CSpan live now. Some Senator (Kent Conrad?) just cut the CBO Director off with a curt..."I'm not really interested in what Mr.Bernancke has said. He's been wrong so often, I think we can just disregard that."

:cool2:
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Re: The Economy

Postby AJRC » 22 Jan 2008, 16:51

Wow, the GOP are really panicking now, the Federal Reserve has cut interest rates by three-quarters of a percentage point to 3.5%. This is a sure fire way of showing the naysayers just how much trouble the US economy is really in.

I doubt this will make the stock markets settle down, as cutting the interest rates so drastically is basically saying the US economy is on the brink of recession.

Unfortunately this will not be a US phenomenon, this will be global. Hopefully the European economies will be strong enough to weather the storm, fingers crossed.
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Re: The Economy

Postby van » 22 Jan 2008, 17:50

Kia ora Andy

Hopefully the European economies will be strong enough to weather the storm, fingers crossed.


Why would they be strong enuf? Have they not been buying into the whole circus as well? What is the status in Europe when it comes to saving rather then spending? Even then those who have invested in the hope of high returns (risk) may well loose their savings. If the rest of the world has aided and abetted the propping up of the dollar, does that not also mean that they are at risk?

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Re: The Economy

Postby AJRC » 23 Jan 2008, 03:51

The UK deficit for last year was £34 Billion, with a national debt of £574.4 billion, compare this with the US where last year they had a $270 Billion deficit and a national debt of $9.1 Trillion. Also the UK in 2005 stopped spending vast amounts in Iraq, at the moment more money is being spent but that is because of the administration of getting our troops home.

Also, UK businesses didn't really dabble too much in the US sub-prime fiasco, which is directly responsible for the mess the economy is in today. We did have one bank who invested heavily in sub-prime mortgages, against the advice of others, and has now gone bankrupt.

But as you can see i clearly said the words "hopefully" and "fingers crossed." Nothing is certain, our economy could fail just like the US economy has failed. We could go into recession just as easily. That is the biggest fear of the markets now, that a US recession will cause a global recession.
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Re: The Economy

Postby bermbits » 26 Jan 2008, 17:10

I am not a money person, and I have little understanding of the complexities of such, so there's little analysis and comment of any value I can add. What I do know is that we're hurting personally and as a nation (the US), and with SC voters naming the economy as their #i issue, it is sure deflecting attention from the war.
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Re: The Economy

Postby van » 26 Jan 2008, 22:10

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Re: The Economy

Postby G5Pontiac » 27 Jan 2008, 01:20

Bermbits, people always vote their own self interest, and their pocketbook. The war is a side issue of little importance to people unless they, or someone they love, is in it; or the are inconvenienced by it due to shortages or high prices.

Elections are auctions of stolen goods, where groups vote for the politician that will give them what does not belong to them.
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Re: The Economy

Postby AJRC » 27 Jan 2008, 15:39

http://news.bbc.co.uk/1/hi/business/7206412.stm

At least some will benefit from the poor economy. I hope these rebates go to the people who need it the most!

Lets just hope this doesn't push the US economy into recession, as these rebates could have serious repercussions in the near future.
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Re: The Economy

Postby meadow » 27 Jan 2008, 16:16

shit, i ain't getting one. f!*<@#s.
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Re: The Economy

Postby OLDMD » 28 Jan 2008, 04:55

...and that answers the question,AJ!

I thought about you,meadow, and wondered...:|

It's never enough, the truly needy rarely get it...and the long-term effect is - it makes the situation worse.

If I got it (and I won't, so it's not totally unfair) - I'd save it just for spite.

If I weren't studying ancient history courses, I'd be tempted to say "It's the American way"... buy 'em off.

(NOT tempted at all to "share" my thoughts on this chicken doo-doo Congress!)
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Re: The Economy

Postby meadow » 28 Jan 2008, 13:52

i don't know anyone who is doing well in this economy. even my father, retired Navy and DoD, isn't doing so great. we are talking about a die-hard, he voted for Bush Republican. if there is one thing about my father it's that he is money sensible and very hard working his life. and he's hurting a little more than i'd like. he's done everything right and he's getting royally *%$#@d* for it. that pisses me off more than the fact that i'm beyond hurting. pfft. i don't ever remember being this hard up when Clinton was President. *loud throat clearing sound*

Bush is just trying to #@$% everyone he can before he leaves. that way in another 4 years the far right can blame whomever gets into the White House, instead of where it squarely belongs: on his shoulders.
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Re: The Economy

Postby bermbits » 28 Jan 2008, 21:10

Although I only sort of understand the following, it puts a different spin on the weakening economy: http://tinyurl.com/2jyah2
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Re: The Economy

Postby AJRC » 29 Jan 2008, 12:20

I was one of those who deliberately took a detour from Mexico last year and spent two days in San Diego, just to shop because of the incredibly weak dollar. Nice to know i did my bit to help the economy. :grin:
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