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I would suppose what one would accept as a definition of recession. I've always heard it's two consecutive quarters of bad news, and no, I can't put a hard note on that. But if you'll look here, Recession - Wikipedia, the free encyclopedia you might get an idea of what I think is necessary. There is no doubt in my mind the economy is going through a correction, this happens all the time. And thinking it out a little, a recession may not be a really bad thing. I'm kinda like McCain, I don't have a hard grasp on economic factors. For one, it's not my job. And I wouldn't worry too much, either, about McCain or even Obama not having a firm grasp on economics. After all, that's why they have advisors who are more-or-less experts in their respective fields, is it not?
Yea, the constant argument that 9/11 will happen all over again with a democratic president. 9/11 took place while a republican was in office, and did practically nothing to prevent it. Then most of this country feels "SAFE" under a Republican president. So what is this false idea that republicans protect everyone?
The economy is in a bump, not a recession. It is impossible to go from good, to great, to greater, to even more greater, to even more greater than that, etc etc for decades or even just years. We experience downturns.
And yes, sometimes we experience recessions. The economy cannot be mastered, too many variables. We'd hit a recession no matter who is in office.
But, since we're not even in a recession, I don't see the problem. People are finally figuring out that they can't buy anything they want on credit, or purchase homes that are completely out of their reach. Woe is me.
What really needs to happen is they need to teach and stress fiscal responsibility in schools, maybe so many Americans wouldn't be suffering right now. And the ones that do suffer want to find someone to blame, just as long as they don't have to look into their bank statements and figure out that hey, maybe I can't afford to eat out three times a week.
All you're doing is stereotyping. BTW, this crisis is way beyond folks going into foreclosure and anyone not living under a rock can see this. Nice to know you blame even the workers for being laid off. I'm also glad to know you're financially wealthy so none of this is affecting you. I don't have a home in foreclosure, credit is exceptional and I'm not irresponsible with decisions like having children I can't afford, etc. but I have enough investments out there to feel the impact. I also know my company is impacted which also impacts me.
Those trying to use the "old model" for defining a recession need to wake up. Even Warren Buffet and many financial gurus (even Barnake for goodness sake and it looks bad for him to say this) acknowledges this. It's just an example of why many believe Republicans are out of touch. Also, for those saying it has nothing to do with politics, yes it does. I'd have to start another thread to go into how corporations like Halliburton and their lobbyists have influenced the political system. Yes some Democrats are to blame but Republicans definitely take the lead on letting corporations (I guess that's what you get when so many are good friends with the CEOs of these companies and sit on their BODs) get away with anything even though many warned that controls weren't in place. To top it off, now they want to infuse these corporations with my tax dollars.
I think a better title for this thread should be, "Republicans - Still not ready to blame all your problems on the man?"
Well you for one don't think we have any problems so please go back under your rock and let the rest of us do what we need to do to help our fellow citizens. You could give a r**ts a**. Just because I make a good living doesn't mean I can't be concerned for all of us. I know this is not the case for you and your "all about me" comrades.
Regardless, will 90% of us at least agree we have a "serious financial situation"? We are in crap, let us not worry about defining "crap".
Agree, you can call it what you want, all the semantics in the world wont change the fact that we have unprecedented problems. Notice the fed didnt bail anyone out today.....think they're outta $$$ too, and they're the guys that print the stuff. Serious problems indeed........
I'm confused. Seriously. No sarcasm. Just confusion.
We are in "dire" financial times, but all I see is more personal spending. Sold-out college and professional football stadiums, new cars, people on the forum asking where the closest Jamba juice/smoothie store is, busy airports, packed vacation resorts, people having their houses renovated, new pools going in, busy restaurants and bars, tons of hunting and 4-wheeling/dirt biking, packed shooting ranges, crowded malls, Iphones/Ipods/cell phones everywhere, crowded liquor stores, tons of Lasik eye surgery...
No kidding; the list is endless.
I'm telling you, I don't like setting foot out of the house on the weekend, because there are so many people running around, buying things/eating out/etc.
I know this isn't just Dallas, b/c we were in Houston two weeks ago, and tons of people were out throwing cash around. And it doesn't seem like the number has dropped - rather, it keeps growing!
I think I'd be able to get my head around "economic crisis" better if someone could reconcile what I observe and what I'm being told is going on.
I'm confused. Seriously. No sarcasm. Just confusion.
We are in "dire" financial times, but all I see is more personal spending. Sold-out college and professional football stadiums, new cars, people on the forum asking where the closest Jamba juice/smoothie store is, busy airports, packed vacation resorts, people having their houses renovated, new pools going in, busy restaurants and bars, tons of hunting and 4-wheeling/dirt biking, packed shooting ranges, crowded malls, Iphones/Ipods/cell phones everywhere, crowded liquor stores, tons of Lasik eye surgery...
No kidding; the list is endless.
I'm telling you, I don't like setting foot out of the house on the weekend, because there are so many people running around, buying things/eating out/etc.
I know this isn't just Dallas, b/c we were in Houston two weeks ago, and tons of people were out throwing cash around. And it doesn't seem like the number has dropped - rather, it keeps growing!
I think I'd be able to get my head around "economic crisis" better if someone could reconcile what I observe and what I'm being told is going on.
Need to look harder, maybe travel outside of Texas. I travel around the U.S. regularly, lived in FL, GA, TX, CA and several places in between. Retail spending is down and that's a fact, unemployment is up and that's a fact, GDP is close to a standstill and I predict will go negative shortly, long-term companies previously listed under best stock choices like Bears, Lehman Brothers, Merrill Lynch, and AIG are gone by the way side or seriously in trouble and will likely not be around, at least in its present form, the gov't is having to bail out Fannie Mae and Freddie Mac, and the housing market remains in an unprecedented free fall. However, if you prefer to get your economic data from looking at some people shopping in a Dallas or Houston mall, who probably charged it on their credit cards, so be it.
Need to look harder, maybe travel outside of Texas. I travel around the U.S. regularly, lived in FL, GA, TX, CA and several places in between. However, if you prefer to get your economic data from looking at some people shopping in a Dallas or Houston mall, who probably charged it on their credit cards, so be it.
I ask for help and I get patronizing answers. These are not my observations of just my local environment.
I understand the housing crisis. By some miracle of god, I don't know one single person being affected by it, except for a couple who are having a hard time selling their houses. Texas has been spared a lot of that.
We do travel a lot. Just this year, we've been to Arizona, Hawaii, Minnesota, Utah, Montana, Colorado, and we're headed to Louisiana in October. We have been and we go overseas quite often and all over the world. I have eyes, I can count, and airports don't appear to be getting less crowded. Nor do the beaches of Hawaii, the slopes of Big Sky, the streets of Sedona...
I watch college football (on tv) from all over the country, and those stadiums are packed...that USC-Ohio State game was 90,000+, and that was just one game (and those tix are not cheap). If I want tickets to the Texas-OU game coming up next month, I'd better be ready to fight with hundreds of dollars in my hand just to get a crappy seat.
I am being repeatedly told to be upset b/c two financial entities who were bloating like Violet from Charlie and the Chocolate Factory are headed towards some disasterous fate (of what I consider pretty much their own and the buyers' own making). I am being told that the stock market is kaput, but my own accounts don't reflect this. I am being told that people are unemployed, but everyone I know (and I have friends all over the country/world) has a job. Most of the people I know who don't have health insurance _chose_ not to buy it.
I am just saying that if you meet skepticism and everyone isn't jumping on the Democrat "economy's going to hell in a handbasket" rhetoric, it might be because many people are not experiencing it. And it's not because I just live here and have on blinders and never go anywhere or experience anything.
I think people are considering more and more things as necessary and do not realize that they are luxuries. Cable tv for one. Many people will be near starvation and still maintain their cable just so they will have more to watch. People think that as soon as they are done paying off one car they need to trade up, so there is an un-needed car payment. College costs are through the roof and it is fairly easy to be approved for a loan for college. Many people who graduate from college wind up taking entry level jobs that pay next to nothing and have nothing to do with their degree. Talk about a flawed system. And neither party is doing anything about it. The college prices keep rising, the cost of living keeps going up, people keep charging it and eventually that will catch up with us all. Not one party or the other and this is not the game we should be playing. The reps say it is the dems and the dems say it is the reps and none of this has ever gotten us anywhere. We need to stop thinking along those lines and actually do something about it instead of pointing a finger at someone else. We can stop buying things we don't need.
I have been to third world countries and seen the poverty there and then I hear some idiot talking about how "poor" he is because he can't afford to eat steak every night?! Crazy!
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