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I was just reading that an economic forecaster who predicted the last boom and bust wrote last year that we would see a brief rally in the middle of '09 and then dive into a major depression from which we would not fully recover until around 2020.
On one hand, this all predated Obama and, as much as people would like to blame him, it won't be his fault.
On the other hand, that really sucks if he's right - because that's exactly what seems to be happening.
I was just reading that an economic forecaster who predicted the last boom and bust wrote last year that we would see a brief rally in the middle of '09 and then dive into a major depression from which we would not fully recover until around 2020.
On one hand, this all predated Obama and, as much as people would like to blame him, it won't be his fault.
On the other hand, that really sucks if he's right - because that's exactly what seems to be happening.
I just read it will be a double dip with another recession in mid 2010 until 2011.
It is not doom and gloom as some accuse. I just believe it is a more realistic view. There is still a mess in the credit markets and banks still have loads of bad assets on the balance sheets.
The general public is worried about their JOB, not the Dow.
Right...and when earnings and sales are better than expected....people get to keep their jobs. Also, don't forget that many of the "general public" also owns stocks as part of 401K and other investments.
Right...and when earnings and sales are better than expected....people get to keep their jobs.
well right now earnings are better. Sales is not going to get better as consumers are tapped out. they may get some confidence back but it will not be enough to create any real sustainable job growth.
Hold on isn't the stock market for old white rich rep people?? Dems are not allowed to take credit for this.
No, you don't understand. They're allowed to take credit when it goes UP, not DOWN.
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