posted on Jun, 23 2008 @ 10:49 AM
reply to post by infinite
THAT seems a bit drastic.. 7,500 .. That would knock the markets back more then a decade as far as worth ..
But again, I believe something will happen .. it has to .. the momentum is building, the pressure is building, the bubble WILL pop, eventually.
The US Government data shows the economy should expect to LOOSE 200,000 jobs ..... just by municipal employment alone! (Which most pay very well in
the US) .. And does not include the concern that cities are no longer hiring .. they are also forcing workers into retirement (which does not count
against unemployment) .. the fear being with municipal jobs dropping (the US data admits that it is a "conservative" guess at 200k jobs lost, as
that is only ONE percent of Municipal employment in the US....) consumer confidence drops as well .. hurting retail and the service sectors severely..
Raising rates to instigate an economy "correction" would in sense, be no different then trimming back a plant, sometimes it grows out of control and
cannot be contained, to cut it back and let it grow in a more controlled atmosphere..
Granted, for many people the times ahead will be terrible times, people should not over-react .. economic corrections and recession are NOT the same
things as economic collapses or depressions even .. and it does not mean revolution, civil wars, martial law. It will simply be a correction.