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Worst recession since 1930s appears to be over - Yahoo! News (http://news.yahoo.com/s/ap/20090909/ap_on_bi_ge/us_economy - broken link)
I don't think it is over, and i think the current president and his administration are not concerned with doing anything to improve things, all they want to do is push their personal agenda itmes, and hope things work out by themselves.
A public health care bill and Waxman-Markey will make things worse, and they seem to be fine with increasing the deficit and debt w/o any concern of the negative repercussions we will suffer.
It may be over for now on Wall Street, but it sure ain't over on Main Street.
It's getting there. More and more companies have been revising their outlook (you just haven't been paying attention).
"Aug. 28 (Bloomberg) -- Intel Corp., the world’s biggest chipmaker, raised its sales forecast for this quarter, adding to evidence that personal-computer demand is recovering.
Third-quarter sales will be at least $8.8 billion, Intel said in a statement today. That compares with at least $8.1 billion the company projected last month. The company also increased its gross-margin forecast for the period."
Same is true with many other companies as well. In the last week or so that's been the case with firms like Dell, Apple and Proctor and Gamble. Little by little more and more firms will report a similar story.
It's stabilizing, but jobs will take a while to catch up unfortunately. In fact, many that have been lost will never be seen again (bubble jobs like IBankers, Mortgage/Loan agents, RE Agents, some construction jobs, etc.). Many manufacturing jobs (though those HAVE BEEN leaving the country). I wouldn't be surprised if 7% unemployment is "full" until new industries come along.
It's getting there. More and more companies have been revising their outlook (you just haven't been paying attention).
"Aug. 28 (Bloomberg) -- Intel Corp., the world’s biggest chipmaker, raised its sales forecast for this quarter, adding to evidence that personal-computer demand is recovering.
Third-quarter sales will be at least $8.8 billion, Intel said in a statement today. That compares with at least $8.1 billion the company projected last month. The company also increased its gross-margin forecast for the period."
Same is true with many other companies as well. In the last week or so that's been the case with firms like Dell, Apple and Proctor and Gamble. Little by little more and more firms will report a similar story.
Ken
That's Wall Street. The money players will recover, even make money as they play their cards right. I'm waiting to hear some "Main Street" news though..like job creation. Quarterly earnings reports will tell the truth..profit from revenue or profit from cost cutting. When I see from revenue then I know it's really happening..even better if the revenue is from the US.
That's Wall Street. The money players will recover, even make money as they play their cards right. I'm waiting to hear some "Main Street" news though..like job creation. Quarterly earnings reports will tell the truth..profit from revenue or profit from cost cutting. When I see from revenue then I know it's really happening..even better if the revenue is from the US.
READ the article. This is not Wall Street, this is MAIN Street. Intel is not a Wall Street firm. It's a manufacturing company - and the news it is reporting is NOT simply better profits because of cost cutting, it's INCREASE SALES (it IS a quarterly report). The same thing was true of the other firms I mentioned. They are not merely projecting or announcing improved profits they are announcing improved sales.
And this news is NOT alone. Just a week or two ago one of the labor-related companies (I can't recall which one it was right now (maybe "Manpower")) announced that their latest survey indicated that roughly half the firms they polled planned to hire next year.
READ the article. This is not Wall Street, this is MAIN Street. Intel is not a Wall Street firm. It's a manufacturing company - and the news it is reporting is NOT simply better profits because of cost cutting, it's INCREASE SALES (it IS a quarterly report). The same thing was true of the other firms I mentioned. They are not merely projecting or announcing improved profits they are announcing improved sales.
And this news is NOT alone. Just a week or two ago one of the labor-related companies (I can't recall which one it was right now (maybe "Manpower")) announced that their latest survey indicated that roughly half the firms they polled planned to hire next year.
Ken
No, that's not Intel's 3Q report..that's their forecast. They are predicting what their sales and earning may be for 3Q09. We won't see their actual numbers though til sometime in October. And the increased sales is due to the new consumers in Asia according to that article.
No, that's not Intel's 3Q report..that's their forecast. They are predicting what their sales and earning may be for 3Q09. We won't see their actual numbers though til sometime in October. And the increased sales is due to the new consumers in Asia according to that article.
Yeah ... and 3rd quarter is almost over (3 weeks left to go). Why do you think they made the statement about revising their sales forecast UP? You think maybe it has something to do with the fact that they've looked at what their sales have been for the past 2+ months. It's up nearly 10% from what they were predicting just a month ago! CLEARLY sales are PICKING UP.
You are simply looking for ANY excuse to deny the obvious.
Why is that?
Are you letting your political beliefs color your common sense (ie thinking "there is NO WAY that Obama is not going drive the country into the ground!")?
Face facts dude, the economy is starting to recover - whether YOU like it or not. Is everything rosey? Heck no! But things are definitely looking up in almost every area. Next year, even the job picture should start to improve.
Regarding the "Asia sale" - Yes Asia is recovering too (in fact Asia is recovering faster than the US). I don't care who leads the way, the fact is all the countries around the world are economically linked. That's why they all fell together - and now they are all rising together. Some are recovering faster than others, but they are ALL recovering. That's true in Asia, in Europe, and here in the USA.
Ken
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