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Old 10-07-2009, 01:16 PM
 
Location: Sputnik Planitia
7,826 posts, read 11,741,458 times
Reputation: 9045

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One report:

The "Real" Economy Is Dying Q4 "Going to Be a Bloodbath" Whalen Says: Tech Ticker, Yahoo! Finance
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Old 10-07-2009, 01:29 PM
 
Location: Castle Hills
1,172 posts, read 2,626,341 times
Reputation: 656
^^^^ this
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Old 10-08-2009, 12:55 AM
 
48,505 posts, read 96,623,272 times
Reputation: 18304
One story amoung thousands and doom is announced.Its already a bloodbath for some inductries and the area they are in but some are doing better.Overall the 70's recession i job might be equaled;too soon to tell really.Buit as long as inflation satys lower than double digits it won't hurt near as bad as the 70's.Existing debt will hurt many but the debt amount just released looks like a great improvemnt overall for individuals.
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Old 10-08-2009, 02:02 AM
 
Location: Conejo Valley, CA
12,460 posts, read 20,021,089 times
Reputation: 4365
This article is completely vacuous.
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Old 10-08-2009, 05:28 AM
 
12,867 posts, read 14,875,616 times
Reputation: 4459
there is nothing vacuous about reporting that the FDIC does not have nearly enough money to cover the bank losses and will have to find a source of funding these losses.

how long can government continue to replace the private sector as the "consumer spender"? government has just pulled demand further forward yet again with CFC, with more long-term unintended consequences. consumer spending is down and will continue to stay down as long as unemployment is rising. how many people really believe that we can have a "jobless recovery" in a consumer based economy?

i saw an interesting statistic which put it in perspective. with last weeks reported Sept unemployment, the reported number was 263,000 lost jobs. Let's really low ball a number and say each person made $20,000 a year.

Grade school math says that equals $5,260,000,000 in lost annual wages so that is a lot of demand that has vanished. (the actual number is obviously higher). that is demand that needs to be replaced by government intervention.

Last edited by floridasandy; 10-08-2009 at 05:39 AM..
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Old 10-08-2009, 06:14 AM
 
24,365 posts, read 22,956,137 times
Reputation: 14942
I'm worried about many commericial and retail real estate projects just built. If they can't meet finance payments from a bad 4th quarter, the banks are going to take another hit. So much of whats keeping the economy together right now is credit based on the hope things will turn around and money being pumped into it by the fed. But with unemployment still creeping up things could get really ugly really fast.
The government is bankrupt and can't keep borrowing money to give( lend) away. It will have to increase taxes and also slash spending to keep from imploding and that will in turn force the economy into a steep corrective downturn. Real ugly, real fast.
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Old 10-08-2009, 06:31 AM
 
2,908 posts, read 3,861,765 times
Reputation: 3166
Inflation is inevitable. The gov't is systematically debasing the dollar. It is the only way to pay off our unprecedented debt.
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Old 10-08-2009, 06:36 AM
 
22,768 posts, read 30,650,196 times
Reputation: 14737
the article has very little meat, but the video is good.
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Old 10-08-2009, 07:28 AM
 
Location: Portland, Oregon
7,084 posts, read 12,028,909 times
Reputation: 4125
People have been posting the end of the world scenarios for months (WF was supposed to fail in August, the economy in September, by the last doom scenario), always saying that last time they weren't sure but now they are...it has yet to happen. Things will be painful but they will go back to every day average.
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Old 10-08-2009, 11:41 AM
 
4,399 posts, read 10,644,416 times
Reputation: 2383
Quote:
Originally Posted by subsound View Post
People have been posting the end of the world scenarios for months (WF was supposed to fail in August, the economy in September, by the last doom scenario), always saying that last time they weren't sure but now they are...it has yet to happen. Things will be painful but they will go back to every day average.
Months? Try decades.
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