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Thursday, November 27, 2025 |
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Double Dip Recession or Economic Recovery?? |
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High Speed Rail??
MUSA Immigrant
Joined: May 28 2010 Status: Offline Points: 45 |
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Topic: Double Dip Recession or Economic Recovery??Posted: Jul 01 2010 at 11:16am |
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Which is right? Is there an economic recovery as Preident Obama claims? Or, are economic indicators such as the stock market telling us we're headed for another round of recession? What are we to believe?
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Bobbie
MUSA Citizen
Joined: Jun 05 2009 Location: Middletown Status: Offline Points: 288 |
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Posted: Jul 01 2010 at 11:56am |
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I do not think you are anywhere near an end.
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VietVet
MUSA Council
Joined: May 15 2008 Status: Offline Points: 7008 |
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Posted: Jul 01 2010 at 12:53pm |
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I agree Bobbie. People still losing their homes to foreclosure due to the loss of jobs. People unemployed for 1 to 3years now. The home buying has not picked up enough to indicate an improvement. People not buying new cars/trucks to take notice. People shopping at Family Dollar instead of the box stores or the Elder-Beerman- mall type stores. People buying the Kroger brand groceries to save a few bucks on the grocery bill instead of the national brands. Coupon clipping has increased. Anything to survive in this lousy economy.
IMO, Obammy nor anyone else that mentions a "pick-up" of the economy is fooling no one. Look at the roller coaster ride the market is in now. People who planned on retiring have put those plans on hold indefinitely, including me. Looks like it may be 70 when I have a chance to quit. That'll make 51 years of "bliss" in the workplace.
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lrisner
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Joined: May 26 2009 Status: Offline Points: 330 |
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Posted: Jul 01 2010 at 5:54pm |
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On the Kudrow Show today they all were saying that the Economy HAD to be coming back because Corp Profits were at record Levels. Corp profits don't get Average Joe any Groceries if he is out of Job. The bottom has not be seen yet in my opinion. The Stimulus that the Conservative say did not work, simply slowed the decline and we will see it later. I think things were, and are, much worse than those in Power would ever admit. They need to keep confidence of the People up as much as possible. |
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Mike_Presta
MUSA Council
Joined: Apr 20 2008 Location: United States Status: Offline Points: 3483 |
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Posted: Jul 01 2010 at 6:08pm |
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The worst is yet to come. The largest group of foreclosres has yet to hit the housing market. Then it will become more obvious that even more are "under water" and that it will seem to make financial sense for another round of people to stop paying their over-sized mortgages on their current homes.
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“Mulligan said he ... doesn’t believe they necessarily make the return on investment necessary to keep funding them.” …The Middletown Journal, January 30, 2012
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wasteful
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Joined: Jul 27 2009 Status: Offline Points: 793 |
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Posted: Jul 01 2010 at 6:08pm |
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I agree you will be hearing between now and Novembers election how the economy is slowly turning around and getting better, just for the sake of the Dems trying to get re-elected.
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spiderjohn
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Joined: Jul 01 2007 Location: United States Status: Offline Points: 2749 |
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Posted: Jul 01 2010 at 7:08pm |
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The housing situation will be dwarfed by the commercial real estate collapse.
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Bocephus
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Joined: Jun 04 2009 Status: Offline Points: 838 |
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Posted: Jul 01 2010 at 8:43pm |
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obama and the liberals are just buying time with all the funny money that they are printing.without manufacturing jobs (which we don't have too many these days) thier can be no real recovery.right now the figures are distorted by the hiring of census workers and new federal hires for obamas newly created departments like obamacare and financial regulators. they cant keep borrowing sooner or later the bank (china) will cut us off.makes me wonder if the people in dc are really that stupid after all all them have college degrees some are doctors lawyers etc...at the present rate its gonna colapse sooner or later.
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lrisner
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Joined: May 26 2009 Status: Offline Points: 330 |
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Posted: Jul 01 2010 at 11:18pm |
I never bring that up because so many people are oblivious to the subject. You are right, it may be what pushes over the edge for good. |
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Bobbie
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Joined: Jun 05 2009 Location: Middletown Status: Offline Points: 288 |
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Posted: Jul 02 2010 at 8:52am |
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The unemployment rate is still at 9.5% - unemployment is running out for a lot of people, because the bill was not passed (I am not stating if it should or should not have passed). However people are loosing their income. No money for house payments - foreclosures are going to rise. You can live in a home anywhere from 6-24 months without making a payment (unless you are a renter). Unless we get more public sector jobs, the economy will not be better - it will get worse.
It gets old hearing democrats and republicans placing the blame game. It really does not matter whose fault it is - but if you are in office and not doing anything about it - then it is your fault right now. We have to many politicians from the city level to the presidential level that do not have common sense. We have to many Harvard Law graduates in Congress that think they know everything. They may understand law - but they do not understand economics. I can tell you from a basic level if you do not have money you do not spend it. But our government spends it like there is no tomorrow.
You can only stimulate an economy by creating jobs - then individuals can buy items.
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Mike_Presta
MUSA Council
Joined: Apr 20 2008 Location: United States Status: Offline Points: 3483 |
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Posted: Jul 02 2010 at 4:29pm |
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Bobbie,
Simply and well stated!!!
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“Mulligan said he ... doesn’t believe they necessarily make the return on investment necessary to keep funding them.” …The Middletown Journal, January 30, 2012
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wasteful
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Joined: Jul 27 2009 Status: Offline Points: 793 |
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Posted: Jul 03 2010 at 10:44am |
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Pacman
Prominent MUSA Citizen
Joined: Jun 02 2007 Status: Offline Points: 2612 |
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Posted: Jul 05 2010 at 4:29pm |
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Jul. 04, 2010
Copyright © Las Vegas Review-Journal WAYNE ALLYN ROOT: Barack Obama: The great jobs killer As former President Ronald Reagan might have said, "Obama, there you go again." The current occupant of the White House claims to know how to create jobs. He claims jobs have been created. But so far the score is Great Obama Depression 2.2 million lost jobs, Obama 0 -- a blowout. Obama is as hopeless, helpless, clueless and bankrupt of good ideas as the manager of the Chicago Cubs in late September. This "community organizer" knows as much about private-sector jobs as Pamela Anderson knows about nuclear physics. It's time to call Obama what he is: The Great Jobs Killer. With his massive spending and tax hikes -- rewarding big government and big unions, while punishing taxpayers and business owners -- Obama has killed jobs, he has killed motivation to create new jobs, he has killed the motivation to invest in new businesses, or expand old ones. With all this killing, Obama should be given the top spot on the FBI's Most Wanted List. Meanwhile, he has kept the union workers of GM and Chrysler employed (with taxpayer money). He has made sure that most government employee union members got their annual raises for sleeping on the job (with taxpayer money). He made sure that his voters got handouts mislabeled as "tax cuts" even though they never paid taxes (with taxpayer money). And he made sure that major campaign contributors collected billions off government stimulus (with taxpayer money). As far as the taxpayers -- the people who actually take risks with our own money to create small businesses and jobs and pay most of the taxes -- we require protection under the Endangered Species Act. You won't find proof of the damage Obama is doing on Wall Street, but rather on Main Street. My friends are all part of the economic engine of America: Small business. Small business creates 75 percent of new jobs (and a majority of all jobs). I called one friend who was a wealthy restaurant owner. He says business is off by 60 percent. He's drowning in debt. He won't last much longer. His wealth is gone. I called another friend in the business of home improvement. He says business is off 90 percent from two years ago. My contractor just filed personal bankruptcy. She won't be building any more homes. The hair salon where I've had my hair cut for years closed earlier this year. Bankrupt. But here's the clincher -- ESPN Zone just closed all their restaurants across the country. If they can't make it selling cheap food and overpriced beer with 100 big screens blaring every sporting event on the planet to a sports-crazed society, we are all in deep, deep trouble. I've polled all my friends who own small businesses -- many of them in the Internet and high-tech fields. They all agree that in this new Obama world of high business taxes, income taxes, payroll taxes, capital gains taxes, and workers compensation taxes, the key to success is to avoid employees. The only way to survive as a business owner today is by keeping the payroll very low and by hiring only independent contractors or part-time employees provided by temp agencies. The days of jobs in the private sector with big salaries, full benefits, and pensions are over. We've all seen where those kinds of jobs get you as a business owner -- in Bankruptcy Court or surviving on government welfare like GM and Chrysler. Or in the case of government itself -- completely insolvent, but surviving by ripping off taxpayers and fraudulently running printing presses at the Fed all day and night to print money by the trillions. Unfortunately, small businesses don't have the power to impose taxes or print money. So unlike government, we'll just have to cut employees and run lean and mean. It has now become clear that, outside of the burgeoning field of Census takers, there will be no major increase in new jobs for years to come. Outside government, Obama has created a wasteland of economic ruin and depression that looks much like the landscape of Mel Gibson's first movie "Mad Max." Without a printing press in Obama's world, you're just plain out of luck. The days of believing the Obama propaganda about a jobs recovery are over. The trillion-dollar corporate handouts (neatly named "stimulus") may have kept big business in the money for the past 18 months, and artificially propped up the stock market, but small business is the real canary in the coal mine. My small business-owning friends aren't creating one job. Not one. They are shedding jobs. They are learning to do more with fewer employees. They are creating high-tech businesses that don't need employees. And many business owners are making plans to leave the country. In a high-tech world where businesses can be run from anywhere, Obama has a problem. His one-trick pony -- raise taxes, raise taxes, raising taxes -- is chasing away the business owners he desperately needs to pay his bills. So who is going to pay Obama's taxes? Not his voters. They want government to pay them. Who is going to create Obama's jobs? Not his voters -- they've never created a job in their lives. So what is Obama going to do? Maybe he can get Pamela Anderson on the line. Wayne Allyn Root, a former vice presidential nominee for the Libertarian Party, writes from Henderson. His column appears every other week. |
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Nelson Self
MUSA Resident
Joined: Aug 17 2009 Status: Offline Points: 144 |
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Posted: Jul 05 2010 at 5:21pm |
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Pacman -
Excellent post. Now, if only the people will listen and accept the hard, cold facts about our rapidly expanding, bloated Federal economy.
In my humble opinion, our beloved country is headed for greater hard times if there's not a major change in the upcoming 2010 Congressional election. Harry Reid, etc. need to go!
Big government is not the answer.
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spiderjohn
Prominent MUSA Citizen
Joined: Jul 01 2007 Location: United States Status: Offline Points: 2749 |
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Posted: Jul 06 2010 at 6:52am |
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BREAK TIME
Everyone is hot and irritable, along with broke and irritable.
?s are many while answers are both few and vague
So--back to reality:
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spiderjohn wrote:
