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Things are never going to "recover" to the point it was at - because the madness that took over the real estate markets where properties increased worth 20-30% in one year - ain't gonna happen again. I hope it NEVER happens again. The whole time that madness was going on - I was thinking to myself - this is insanity.
We're never going to "recover" because the good jobs are gone. Irreparable damage is done.
You hear this every time a recession occurs, and every time it's wrong...from the S&L scandals, through the tech bust just in my lifetime and more so before. If he doesn't expect a recovery he should be buying a place where he can make his own food and a rifle, not buying silver in the market to hedge in the same place that he expects to go completely bust.
Look at the last recession, there were deep problems in the decline from 2001 to 2003 before a good recovery indicators were pushing people to see the recovery. It takes time even to show things recovering, it won't happen over night, even with a new president you can't look 100 days in and scream "It's not hunky dory yet we are completely screwed now!".
When things recover precious metals are going to go in the crapper, I wonder if he is planning for that eventuality.
Please, don't try and compare this recession to recessions of the past. Its MUCH MUCH MUCH worse. Thats a fact. If you want to compare it to anything, compare it to the great depression cause its headed that direction with no end in sight. Also, I'm far from a doom and gloomer.
Things are never going to "recover" to the point it was at - because the madness that took over the real estate markets where properties increased worth 20-30% in one year - ain't gonna happen again. I hope it NEVER happens again. The whole time that madness was going on - I was thinking to myself - this is insanity.
We're never going to "recover" because the good jobs are gone. Irreparable damage is done.
i don't believe the damage is irreparable even though we are on the wrong course now. administrations change and policies can be reversed.
america has industry and resources, and those are not being taken away from us. (well, except for chrysler being given to italy.....)
sometimes you have to hit bottom before you realize that you have a problem.
Please, don't try and compare this recession to recessions of the past. Its MUCH MUCH MUCH worse. Thats a fact. If you want to compare it to anything, compare it to the great depression cause its headed that direction with no end in sight. Also, I'm far from a doom and gloomer.
How do you know? You really won't till it's all done...even with new techniques and day to day tracking the revised numbers for the Tech Bust showed things were much better then people thought.
From history you can see things from the Victorian era (H.G. Wells documents it well in England, even similar in size and scope as a percentage) to current (very similar in what happened in the S&L scandals in type) that match current conditions...the size is a bit more but things recovered given time. Even the great depression grew to the longest and greatest period of economic growth in US history. It's all cyclic, if you take short term trends and extrapolate to big future trends you'll be screwed in either direction...good or bad. It's just determining the time frame now.
How do you know? You really won't till it's all done...even with new techniques and day to day tracking the revised numbers for the Tech Bust showed things were much better then people thought.
From history you can see things from the Victorian era (H.G. Wells documents it well in England, even similar in size and scope as a percentage) to current (very similar in what happened in the S&L scandals in type) that match current conditions...the size is a bit more but things recovered given time. Even the great depression grew to the longest and greatest period of economic growth in US history. It's all cyclic, if you take short term trends and extrapolate to big future trends you'll be screwed in either direction...good or bad. It's just determining the time frame now.
Are you for real? If you can't tell that this is the worst recession since the great depression then there is really no reason to debate it etc with you.
Bear sterns gone, lehman brothers gone, countrywide gone, chrysler almost gone, GM should be gone, Merrill lynch bought out, all major banks needing BILLIONS of bailout dollars, MILLIONS of job losses, close to 10% unemployment, California practically bankrupt, companies going out of business left and right, we are printing money like crazy throwing it at the problems which will surely lead to inflation. No solutions in sight. You're right.. how would I know?
Please, don't try and compare this recession to recessions of the past. Its MUCH MUCH MUCH worse. Thats a fact. If you want to compare it to anything, compare it to the great depression cause its headed that direction with no end in sight. Also, I'm far from a doom and gloomer.
So afr it is not much worse from looking at the data. The 70's recession had alot more peole hutuing . In fac the double idgit infaltion hurt everyone. I thnik we might equal teh unemplotment of that recssion some time aftre summer but not yet.Besides which their was no rebates in that recesion . Its really looks like tehis one of it turns worse will because of all teh governamnt spending on things that will do nothig to help real recovery but feed alot of taxpayer money to special interest groups.Just like teh 70;s recessio it hits different areas of the country hard than toher especailly those that had inductry on the brink before the recesion.
How do you know? You really won't till it's all done...even with new techniques and day to day tracking the revised numbers for the Tech Bust showed things were much better then people thought.
From history you can see things from the Victorian era (H.G. Wells documents it well in England, even similar in size and scope as a percentage) to current (very similar in what happened in the S&L scandals in type) that match current conditions...the size is a bit more but things recovered given time. Even the great depression grew to the longest and greatest period of economic growth in US history. It's all cyclic, if you take short term trends and extrapolate to big future trends you'll be screwed in either direction...good or bad. It's just determining the time frame now.
I believe the Japanese had pretty much the same type of recession for the same reasons. They have been used as an example to our today. The solution after different trials with not success? Deregulation and less government interference is the claim that lifted them up.
Here is an article on this:
www.nytimes.com/2005/12/25/business/yourmoney/25japan.html?ei=5090&en
You have a great day.
El Amigo
Last edited by elamigo; 06-18-2009 at 12:04 PM..
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