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"A recession is a contraction in real GDP brought on by a central bank tightening monetary policy, usually to control inflation, and ends when the central bank eases. But a D-process occurs when an economy has an unsustainably high debt burden and monetary policy ceases to be effective, usually because interest rates are close to zero, and the central bank has no way to stimulate the economy. To compensate, the value of debt must be written down (risking deflation) or the central bank must print money (a trigger of inflation), or some combination of both."
Originally posted by dodadoom
Would this be a good time to buy stocks?
Ride the wave one last time, so to speak?
Set a certain goal and get out when its met?
Just thinkin' out loud here, I'm not a broker.
Am enjoying your posts though!
Originally posted by Hastobemoretolife
reply to post by redhatty
Agreed. Not that I could really read the markets to begin with, but from what I have learned they aren't acting like they should.
I think people are delusional, they have heard nothing but doom and gloom for the past few months and now some "good" news comes out and they lose all their rationality.
Hope you make some cash.
Everybody is spent out. There have been a few guests on the news talking about how everything has changed. The days of 3 cars in the driveway is over and yada yada yada.
I think people have really learned their lesson this go around. I think people have switched to being frugal and no long spend and consume beyond your needs, and the freaking government thinks that is exactly what we want.
It is like they think we still want to go and take out loans and credit cards and be buried in tons of debt. It really sounds like the people have woken up and the jig is up. After these bailouts people are like time to save and live within our means.
The government just doesn't get it. They are trying to force us to spend money and the only way that is going to happen is if they literally put a gun to each and everyone of our heads and force us to break the bank.
Originally posted by Hastobemoretolife
reply to post by elston
IMy buddy is a breadman and his business is actually doing better than it was during the booming economy.
Originally posted by Hx3_1963
Who in the hell is control of this run away freight train!!!
We're gonna have to keep an eye on this...
AIG says "handful" of execs depart controversial unit
NEW YORK (Reuters) - A handful of senior executives working within American International Group Inc's controversial financial products unit have resigned, said a company spokeswoman late on Monday.
The division is at the heart of the financial problems that brought AIG to the brink of bankruptcy last September, saved only by a taxpayer bailout that has now swelled to as much as $180 billion.
The spokeswoman declined to specify the exact number of resignations, noting they were expected to be "manageable," and said there were indications that more will follow.
The resignations come after $165 million in bonuses paid to employees of this AIG division on March 15 ignited fury across America, with taxpayers questioning why they were footing the bill for individual retention bonuses of up to $6.4 million.
Under pressure from Capitol Hill, AIG Chief Executive Edward Liddy last week asked many recipients to return at least half the value of the awards. Many have also been asked to take sharp cuts in compensation for 2009.
On Monday, New York Attorney General Andrew Cuomo said that 15 of the top 20 AIG bonus recipients had returned the awards in full, calculating the value of the awards at about $50 million. He added that he expected as much as half, or about $80 million of total bonuses paid to American employees, to be recovered.
The tax implications for those who returned the bonuses was not clear, said Cuomo.
The U.S. House of Representatives last week voted to reclaim 90 percent of the bonuses already paid to employees of the unit by levying a special tax. A similar measure in the U.S. Senate has yet to be decided.
Workers at AIG Financial Products' Wilton, Connecticut-headquarters have had to deal with ridicule and scorn, dodging picketers outside the workplace, while bus tours past some executive homes. Some have even received death threats, CEO Liddy said last week.
The financial products unit, as of last month, employed about 370 in offices in Connecticut, London, Paris, Hong Kong, Tokyo and India.