Economy in Recession? More Liberal Lies?

Wall street big firms are just hanging there also,

For Lehman, More Cuts and Anxiety.

The grim news at Lehman underscores not only the precarious state of that once-proud firm but also the pain afflicting the whole of Wall Street. Banks and securities firms have shed more than 101,000 jobs this year, according to Bloomberg News, as the mortgage crisis and struggling economy brought an abrupt end to years of prosperity for the financial industry. Few think the bloodletting will end there.

topics.nytimes.com...

The govenment bail out to the finacial industry is what is keeping the economy from collapsing.



[edit on 1-9-2008 by marg6043]

You get a star. Before this election is over many lies will be revealed to be lies in addition to the one about a recession. Some people are even toying with the idea of simply changing the definition of recession to fit a political agenda. This is really pathetic.

reply to post by marg6043


Eat at home more.. or eat less?

reply to post by Rockpuck


Actually I think people are eating less, with job loses, downgraded incomes or not incomes, foreclosures and inflation when it comes to gas and perishable goods.

I think people are eating less.

Perhaps is time to get America into a diet.

Originally posted by marg6043
reply to post by Rockpuck

 

Actually I think people are eating less, with job loses, downgraded incomes or not incomes, foreclosures and inflation when it comes to gas and perishable goods.

I think people are eating less.

Perhaps is time to get America into a diet.

Sometimes it's a good thing. A chance for people to sit back and really take a look at there lives. Sure it would be nice to have those fancy things the jones have but is it necessary? Instead of a Lexus how about a motorcycle?

And my stomach turns every time I see a young fat person on those carts. Sorry it really gets under my skin. We need to diet yes.

I changed my way of living why shouldn't the people tossing credit cards around.

And seriously, if you need a job ANYONE less of a conviction can get a job. May not be in there field of expertise but a job. People with a skill will not consider a job at McDonalds o heck no. Even if it means feeding your family.

Sad world we live for sure..............

Look. China is still behind us.

They are growing, yes.
But so are we.

Andrew, the US has grown 3-5% every quarter for the last several years. China has grown 10% every quarter for the last 5 years.

China is growing more than twice and fast and it isn't taking long to catch up!! Imagine a race with two runners, the second runner is behind but running twice as fast as the first runner who is still ahead. The second runner will soon catch and pass the first runner.

The topic here though is whether the US is in a recession. It isn't. It has sustained and continued growth in spite of the global Gas and Food price problem hitting every nation in the world but the Middle Eastern countries.

[edit on 1-9-2008 by jetxnet]

reply to post by nixie_nox

My husband is looking for a job because he is a mechanic and the work has dissappearred.

So your saying no one will hire him anywhere or just his career field? Has he applied at a fast food restaurant or a grocery store? Probably not I would assume. Sometimes you have to take what is there and when the timing is right he can do mechanical work again.

Just a thought.

There are millions and millions of Republicans that believe we are in a recession and there are millions and millions of Republicans who will not vote Republican this year because our leaders want to take money from the needs of our people and commit it to bloodshed, commit it to making bigger and better weapons that will kill people. Who in their right minds would lie to get into a war?

The fact that some of this administration calls itself Christian is such a joke. I'm not sure what Jesus political leanings would be if he were alive today...but he wouldn't be an attacking, war-mongering, poverty ignoring, every man for himself Republican?!! I read the bible every day and nowhere in the bible does it say that we achieve peace by killing people?!!

reply to post by Elfworkz


Well while we gave our children all the goods money can buy, including education.

Now we have been faced with cuts on our retirement accounts, still no downgrade in pay but more expenses.

My son still live in the house as he works but can not afford to live on his own, he gave away his car for a motorcycle.

My daughter with all the higher education money can buy could not get a job on her field so she settler for a job tat allowed her to move out of the house.

Well within a week she will be moving back home after 6 months living on her own as her rent is going up and that will render her with no left over money for other expenses.

She is even thinking to go back to college, even when she already has two bachelors degree that is no even enough for her to find something that will allow her to live comfortably.

BTW she got a pay raise of 50 cents.

My husband income allow me to stay home but as our budget gets shorter due to increases in already expenses I am seriously thinking about joining the job force.



[edit on 1-9-2008 by marg6043]

reply to post by marg6043


Ya Marge there is an idea.. tell that bum of a son and daughter of you to lower their standards and pick up that spatula, flip that burger and live in your house till their 40!

Cuz as long as they have a job, albeit flipping burger, the economy is just PEACHY, right? ...... right? .... no?

I hate it when people say "oh, you can't get a job with your degree making decent money? Go work at Lowes!"

America may just soon have the highest educated fast food restaurant force in the World!

reply to post by Rockpuck


Actually none of them work flipping burgers we spend too much money on education for that

Is actually the cost of living what is killing people as the money is not enough to cover for all the expenses they are faced with.

You post make me laugh because you are not far from the truth.

When I was in the school system as a teacher it got to the point that the school system had more teachers with master degrees and doctorates that they ran of room for higher education specialized jobs, so you had the regular teaches competing for jobs with higher educated ones.

At the end they had to take a lost just to be able to hold to their jobs.



It has been pathetic.

[edit on 1-9-2008 by marg6043]

Originally posted by Elfworkz
reply to post by nixie_nox

 

My husband is looking for a job because he is a mechanic and the work has dissappearred.

So your saying no one will hire him anywhere or just his career field? Has he applied at a fast food restaurant or a grocery store? Probably not I would assume. Sometimes you have to take what is there and when the timing is right he can do mechanical work again.

Just a thought.

If you have highter education and/or lots of experience, its sometimes hard to find lower level jobs. Management loves to use over-qualified as a reason to hire someone who will work for less and usually have less ego and/or attitude.

It happens all the time where I work. Managers dont like to hire employees with more education and experience than themselves.

reply to post by jetxnet


Jexnet,

sorry. Re-read your post and mine this morning and I was out of line. Maybe the fact no work on Labor day and one too many barbeques contributed. I realise the intent of your post and yeah, politicians asking me to eat less to "help" is funny. The real scary thing is that in MANY Americans' cases, less eating WOULD benefit them - HA! Colorado - "skinniest" state - Wisconsin - "Fattest" state.

Again, sorry about the over hyped response - I threw all the sink in due to my misinterpretation of your (Obama's) assumption that I should quit eating and driving so much. My second day on the board and already I have been put in my place. Happy Labor Day!

reply to post by iamcamouflage



You know what I've notice too. The field that I was working in just 8 years ago(Tech Support Type jobs) that wanted people with college degrees, now just want people with a HS diplomas and maybe some college.

I don't think it's the goal of most companies to hire intelligent, competent and experienced people. I think most older thinking people know how full of s$@t corporations are nowadays, so they have to get younger people in there that haven't been inundated by all the BS.

Okay I thought this thread would die, but it hasn't. Is anyone here aware of the "Pink Flamingos" its an organization of world class economist. my college professor was one and yes i got an A in the class.

The GDP does not reflect economic heath as a whole its a small part of Macro economics. other parts of the nation are doing better than others. I would like to point out all of jamie's graphs only reflect the St. Louis Fed. Also the most important figure in economic health what only you and I should worry about is quality of living. and as many people can see that is not doing so good right now the GDP and all other figures only indicate government spending and everyone here knows that is really high right now and it is generally good for an economy, but that money is not being spent on this nations constituents its is being spent on companies who "help" the war effort overseas. these companies do provide some jobs for citizens here in the united states. these companies are not American companies there is almost no such thing anymore most large companies are global. so rather than government spending fueling the economy, it is expending it. the value of the dollar drops and prices go up it hurts you and me.

but that is almost completely due to rising fuel, food, and energy prices. it mainly hurts working class citizens. the economy is very complex there are graphs that make it seem better than it actually is, as well as there are graphs that make it seem worse than it actually is.

the economy has to be looked at as a whole. jamie doesn't understand that so please admins close this overly conservative thread

Originally posted by JimBeam
reply to post by iamcamouflage

 

You know what I've notice too. The field that I was working in just 8 years ago(Tech Support Type jobs) that wanted people with college degrees, now just want people with a HS diplomas and maybe some college.

I don't think it's the goal of most companies to hire intelligent, competent and experienced people. I think most older thinking people know how full of s$@t corporations are nowadays, so they have to get younger people in there that haven't been inundated by all the BS.

I agree with you completely. I will say that I work in a data center and the trend in this field is sub-contracting. I work for a sub-contractor that is employed by a large corporation. The SC hires low level employees, some with only HS diplomas. Easier to manage I believe. Granted the higher up positions are college grads and employed by the company but most in this corp are SCs.
Funny side note, There are so many contracting companies at this corp that some are recruiting from other departments that are employed at a seperate SC. Example: SC1 and SC2 are employed by the same corp. SC1 goes to the empoyees of SC2 and offers them a job for more money and better benefits. Employee, leaves SC2 to go to SC1(sometimes its right across the street)for more money and SC2 cant do a damn thing about it because they are seperate contractors. If we were all employed by the corp or by the same SC, then they could stop this kind of thing but sadly they cannot. So now we have a situation where two seperate SCs are bidding and fighting with each other over employees. Believe me this creates a lot of problems and I'm sure this was never even considered by upper management when they chose to go the SC route to save millions.

reply to post by oatie


Actually Oatie we are trying to educate Jamie on the complexities of economics.

The only way Jamie will see a recession is when Bush itself tells him that we are in one.

Economics was in my educational field back in the 70s and 80s it has been a long time but I try to keep on top of the latest news.

Do a comparison to other nations in the world and see how the US is doing relative to growth in GDP.

I posted numbers earlier in the thread showing the US Debt to Income Ratio is better than Japan, Canada and numerous other countries (charted through 2007).

Do you know what Debt to Income Ratio is? It means the difference in what you owe vs. what you make. The US is doing better than Japan and Canada and numerous other countries by owing less in terms of a pecentage of what the US brings in.

Do you know how many "economists" say we're not in a recession? Hundreds of them do.

The GDP reflects the overall growth of the nation in terms of American goods and services sold here at home and across the world.

Many (most) countries are going through a slower trend because of the high Oil cost (a global problem). High Oil cost also raise the food prices and affect nearly every market on the planet.

The US is clearly not in a recession. Look up what recession means (instead saying you got an A in economics) and how it is determined and you will find that is not happening.


[edit on 1-9-2008 by jetxnet]

Originally posted by marg6043
reply to post by Elfworkz

 

Well while we gave our children all the goods money can buy, including education.

Now we have been faced with cuts on our retirement accounts, still no downgrade in pay but more expenses.

My son still live in the house as he works but can not afford to live on his own, he gave away his car for a motorcycle.

My daughter with all the higher education money can buy could not get a job on her field so she settler for a job tat allowed her to move out of the house.

Well within a week she will be moving back home after 6 months living on her own as her rent is going up and that will render her with no left over money for other expenses.

She is even thinking to go back to college, even when she already has two bachelors degree that is no even enough for her to find something that will allow her to live comfortably.

BTW she got a pay raise of 50 cents.

My husband income allow me to stay home but as our budget gets shorter due to increases in already expenses I am seriously thinking about joining the job force.



[edit on 1-9-2008 by marg6043]

Let me get this straight, you stated your husband cant find work but yet your at home because his income allows this?

You didnt save enough when the going was good so your retirement account suffers?

Your children cannot make it own there own because the cant figure out how to manage their finances?

Here goes the finger pointing again not my fault because I did everything right perfectly its not my fault someone else has to take the fall for this one!

Please, take your kids back who has multiple degrees you paid for. Make so they do something like the dishes or laundry for the free ride!

Everyone should have prepared however I guess you havent. All I hear is whining concurs with a commercial that stated "how many credit cards do you have?"

So how many?

IF you want to work you can. If not stay at home, complain how bad things are and do nothing to help yourself.

O you left your lights on in the Lexus parked in the garage.............