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I think we are looking at a very short term "Dead Elephant" bounce created by the initial bailout. This stimulus will start on on the path to long term recovery and put in place the restrictions neeeded to avoid a future speculative boom/bust. At least I hope so.
Where in the stimulus package are these restrictions ?
The stimulus is nothing more than growing government and filling bankers pockets. The average a US citizen will get is $13/week decreasing to $8/week next year.
I agree - the recession's over, the Depression has begun. What area of the economy is undeniably back on track, in any world market?
There's a thread on here with a chart that shows that the 2008-09 unemployment rate is continuing on after the point at which according to other recession charts it should have ticked upward.
Lol Sanrene, your crazy-liberal New York Times link is by "— Bruce Bartlett, author of Impostor: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy.”
There's always two sides to the story. For instance I've noticed that people who don't believe in global warming, evolution or God often believe in Creationism, ghosts and space aliens. So it all kind of evens out in the end. If you want to visit the other end of the paranoid continuum you can find some equally unmeritorious brainchildren of the Damned. For example, if you begin with the idea that nothing widens the gap between the haves and the have-nots better than hard economic times its only the smallest leap in logic for the reptilian brain to conclude that rich people cause depressions so they can get richer. Being at least as moneygrubbing as the Creationist Freesoilers, an enterprising Maoist can make a buttload of money hawking their own improbable propositions to whatever rubes who will listen.
Where in the stimulus package are these restrictions ?
The stimulus is nothing more than growing government and filling bankers pockets. The average a US citizen will get is $13/week decreasing to $8/week next year.
Read the bill..smell the pork !
I prefer to think of it as spending a billion dollars a day for the next 3,000 years.
I'll believe it's over when my engineering buddies stop getting axed and I can actually get job interviews because there are less hiring freezes in big companies.
Actually in this particular case I'm actually HOPING that Sanrene is right (at least regarding the downturn being over) - and in truth there ARE a few encouraging signs - specifically the fact that first-time jobless claims dipped a bit last month and that foreclosures also fell. Now admittedly these are pretty meager signs, but I'm HOPING that they are the beginning of a trend.
I'm not PREDICTING such, just HOPING.
It's also generally true that recessions pretty much are always WELL underway before they are officially announced (as this one was - remember how the government only announced we were in a recession late last year but admitted it started nearly a year earlier) and that often the recovery has already started before the recession itself is announced. That's because the gathering and analysis of the data necessarily lags behind the actual events so we are by definition ALWAYS looking in the rear-view mirror.
The recession is not over and the phrasing ought to be has the recovery already begun. Unemployment is a lagging indicator and will follow leading and concurrent indicators. There are some rays of light and the Recovery Act will help to cushion the lagging parts of any recovery and hopefully speed the recovery up if one is in the making.
It is hilarious to read Republicans talking about fear tactics. Just finished watching W.
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