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Let's face it. Nothing about Friday's employment report will be pretty, and the 7 percent decline in stocks this week has been signaling that.
"Something's got to give," said M.F. Global John Kilduff. "Either the stock market is the buy of the century, or oil is going to $20. You can't have $45 oil and a 6,500 Dow."
Originally posted by haika
Why do you think they are still calling it a "recession" and not a "depression"? Is there a technical line that has not been crossed yet or is it more from fear to what it could to psychologically to people?
Like "if you don't call it that then it's not really there"?
I don't know a whole lot about economics but I don't understand why they just don't call it what it is.
But things can get a lot nastier without reaching a total Great Depression scenario where the economy shrinks by 25 percent and unemployment soars by 25 percent.
Originally posted by GoalPoster
As an aside, I was listening to a news broadcast yesterday that discussed the ongoing mess in the automotive sector . . . the blabbering moron who was being interviewed said the resolve to the problem was simple . . . people need to buy more cars.
With friggin' WHAT . . . buttons and pencil erasers?