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Old 02-13-2009, 10:33 AM
 
Location: Marietta, GA
7,862 posts, read 15,475,077 times
Reputation: 3583

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Please read this article for a little perspective. It echos what I've been saying and really brings things into perspective.

Of course, if you listen to our President and Democrats in Congress....the new mantra is...."we have nothing to fear, except not enough fear." The corollary to that thesis is that only government can solve our problems and unless we throw huge sums of borrowed money to social spending or limited tax cuts that provide no real benefit for a year, we're all doomed.

Why This Recession Seems Worse Than '70s and '80s - Real Estate * US * News * Story - CNBC.com
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Old 02-13-2009, 10:34 AM
 
Location: Londonderry, NH
41,478 posts, read 54,165,052 times
Reputation: 24730
Don't they wish.
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Old 02-13-2009, 10:42 AM
 
22,770 posts, read 27,738,657 times
Reputation: 14617
I didn't see anything worthwhile in that article. They focus on three things:

a) Ad hominem attacks, (If you're white collar, or if you didn't live through recession XYZ, then your opinion isn't valid)
b) Unemployment rate comparisons from different periods in U.S. history (bogus)
c) GDP growth/decline (too early to tell)

If we focus on these three things, and ignore the scope of all the other problems, then sure, everything seems A-OK. Frankly I can't believe anyone who does that sort of thing for a living would rely on these government statistics for analysis.
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Old 02-13-2009, 10:48 AM
 
Location: Marietta, GA
7,862 posts, read 15,475,077 times
Reputation: 3583
Quote:
Originally Posted by rubber_factory View Post
I didn't see anything worthwhile in that article. They focus on three things:

a) Ad hominem attacks, (If you're white collar, or if you didn't live through recession XYZ, then your opinion isn't valid)
b) Unemployment rate comparisons from different periods in U.S. history (bogus)
c) GDP growth/decline (too early to tell)

If we focus on these three things, and ignore the scope of all the other problems, then sure, everything seems A-OK.
It's not about everything being "A-OK"...you seem to be another who thinks the glass has to be completely full or totally empty. What the article does say, if you read it, is that by almost all measures, this recession is a bad one, but it is not "the worst economic slowdown since the Great Depression" and it's not as bad as the perception and political rhetoric might indicate.

Many younger workers were in diapers when the last really bad recession hit in the 80's and weren't born in the 70's. I was a kid in the 70's and in college in the 80's and I remember my mother being unemployed in 1982.
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Old 02-13-2009, 10:55 AM
 
22,770 posts, read 27,738,657 times
Reputation: 14617
Quote:
Originally Posted by neil0311 View Post
It's not about everything being "A-OK"...you seem to be another who thinks the glass has to be completely full or totally empty.
You seem to be another who relies on ad hominem attacks, rather than reasoned arguments. You must watch a lot of Bill O'Reilly.

Quote:
What the article does say, if you read it, is that by almost all measures, this recession is a bad one, but it is not "the worst economic slowdown since the Great Depression" and it's not as bad as the perception and political rhetoric might indicate.
So the article presumes to have some grasp on what "the perception" is, as well as what "the reality" is.

I contend that it demonstrates a grasp of neither.

Quote:
Many younger workers were in diapers when the last really bad recession hit in the 80's and weren't born in the 70's. I was a kid in the 70's and in college in the 80's and I remember my mother being unemployed in 1982.
So if there are large groups of people who've never been through a recession, wouldn't it stand to reason that they would underestimate the size and scope of the crisis, not overestimate it?

Since personal attacks resonate with you, did you notice the article ends with a quote by David Jones? In 2007 was saying that there wouldn't be a recession, and was praising Alan Greenspan's handling of the economy. Why should we listen to him?
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Old 02-13-2009, 10:55 AM
 
Location: Marietta, GA
7,862 posts, read 15,475,077 times
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Quote:
Originally Posted by rubber_factory View Post
a) Ad hominem attacks, (If you're white collar, or if you didn't live through recession XYZ, then your opinion isn't valid)
That's not what was being said...the reference to white collar financial services workers was made because to those folks this does seem like a much worse downturn, due to banking issues and the fact that in other recessions they weren't hurt as badly. The reference to younger workers was made due to their lack of a frame of reference and the fact that most recessions in the past 20 years have been relatively mild.
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Old 02-13-2009, 10:56 AM
 
Location: Georgia, on the Florida line, right above Tallahassee
10,474 posts, read 14,494,671 times
Reputation: 6378
Quote:
Originally Posted by neil0311 View Post
Please read this article for a little perspective. It echos what I've been saying and really brings things into perspective.

Of course, if you listen to our President and Democrats in Congress....the new mantra is...."we have nothing to fear, except not enough fear." The corollary to that thesis is that only government can solve our problems and unless we throw huge sums of borrowed money to social spending or limited tax cuts that provide no real benefit for a year, we're all doomed.

Why This Recession Seems Worse Than '70s and '80s - Real Estate * US * News * Story - CNBC.com

From your article.....

David Jones, CEO of DMJ Advisors, is among those who see “hints of stability.” By that he means, the rate of decline in areas like retail appear to be slowing.
“We'll see the same thing happening on the housing side in the next couple months,” says Jones.


7 months ago.....
Nightly Business Report . David Jones, Chairman of DMJ Advisors Reacts To Fed's Last Meeting | PBS
JONES: .....I don't think we're going to hit a recession, but the odds have gone up to maybe something around 45 percent, almost 50-50 and the Fed has to act to try to protect the economy from that possibility of a recession.
************************************************** **********

OK. Whatever you say, Dave.
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Old 02-13-2009, 10:58 AM
 
Location: Marietta, GA
7,862 posts, read 15,475,077 times
Reputation: 3583
Quote:
Originally Posted by rubber_factory View Post
You seem to be another who relies on ad hominem attacks, rather than reasoned arguments. You must watch a lot of Bill O'Reilly.
Do you even know what an ad hominem attack is? Where have I attacked an individual? You are the one (exhibit A is above) that seems to like to attack people when the facts don't agree with your opinion.

Who do you watch? Jerry Springer?
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Old 02-13-2009, 11:00 AM
 
Location: Marietta, GA
7,862 posts, read 15,475,077 times
Reputation: 3583
Quote:
Originally Posted by rubber_factory View Post
So the article presumes to have some grasp on what "the perception" is, as well as what "the reality" is.

I contend that it demonstrates a grasp of neither.
No...the FACTS and metrics that are quoted prove the REALITY. The fear mongering and doomsaying isn't backed up by the FACTS. That's the point, which I see is completely wasted on you.

How about this:

THE WORLD IS ENDING....WE'RE ALL DOOMED. BUY GOLD AND AMMUNITION BEFORE IT'S TOO LATE!!!

Make you feel better?
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Old 02-13-2009, 11:16 AM
 
Location: Elkins, WV
374 posts, read 1,036,071 times
Reputation: 389
Why are you being so mean to each other? This forum is all about information and opinion. Take it with a grain of salt, but don't attack each other- that's just silly.
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