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You simply cannot measure a recession's end by the unemployment rate. Unemployment is a lagging indicator, and is likely to rise well into next year, even though the recession may indeed "technically" be over.
Treasury announcing millions of new foreclosures and nothing the government can do about it. No sale.
Good news is that my gold and silver is up.
What ever happened to those programs put in place to help homeowners and mainstreet? What ever happened to those programs put in place to buy up toxic assets?
They will begin to spend - sentiment is already edging upwards again.
"Economists expected sentiment to improve because of rising stock prices and a sense that the recession may be ending."
Consumer Sentiment Improves in Early September - FOXBusiness.com (http://www.foxbusiness.com/story/markets/industries/finance/consumer-sentiment-improves-early-sept-umich/ - broken link)
Once the job cuts end (by spring) consumers will be a lot less worried about lossing their jobs and they will begin spending again - probably not to the same level they did before, but certainly a lot more than they are doing now. Right now they are saving (savings rates are up) so clearly there IS disposable income out there. People just need to be confident enough in the security of their own jobs to spend it - and as I said, that security will come once the job cuts have ended.
LOL I have a friend who works in retail and she said she thinks things are on the verge of turning around because she's noticed men are buying underwear again.
LOL I have a friend who works in retail and she said she thinks things are on the verge of turning around because she's noticed men are buying underwear again.
Actually the "underware index" is pretty well known. I don't think there is a real consensus about how valid it is.
Haha, I was unaware of the "underwear index" but it makes sense! I just bought new underwear last weekend for the first time in about a year. The economy really must be getting better!
Last edited by downtownnola; 09-11-2009 at 10:07 AM..
Reason: typo
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