The economy is in much worse shape than we think

reply to post by Genfinity


OK , now you are Scaring me , a humble Blue Collar Tradesmen looking for Work ........Thanks for the Advice though , and I personally recognize alot of Truth in your words .........Long Live The Republic ! ...As Long as we can Afford it ! ....

reply to post by mrpotatohead


Just a follow up to this thread. Today's news shows the revised employment numbers. They missed reporting over 1.4 Million people. Almost speachless.

But, at the same time, the Labor Department revised its previous estimates for the number of jobs that have been lost over the past 25 months. What they found wasn't pretty.

Since the recession began in December 2007, the economy has lost 1.4 million more jobs than previously believed. The adjustments also showed losses for 2009 alone came to 4.8 million jobs, greater than 600,000 more than previously estimated.

"We're coming out of a very, very steep downturn," said Dean Baker, co-director of the Center for Economic and Policy Research. "The revisions show that we have a really big hole to come out of."

The revision came about because the government had been dramatically underestimating the number of businesses that were closing due to the recession.

So were they spinning the information?

Source CNN

reply to post by crw2006


I just want to say that the problem is not so much taxes, but the problem is that the taxes and new taxes are not being used to pay off debt. Our government keeps creating new debt and spending more and increasing the taxes. Only solution is a massive, MASSIVE natural disaster.

I used to think it was all about democrats and republicans. However I still do agree with a compassionate conservative philosophy. This little silly joke email changed my mind. I have included just the first parts of the email.

Politicians are the only people in the world who create problems and then campaign against them.

Have you ever wondered, if both the Democrats and the Republicans are against deficits, WHY do we have deficits?

Have you ever wondered, if all the politicians are against inflation and high taxes, WHY do we have inflation and high taxes?

You and I don't propose a federal budget. The president does.

You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does.

You and I don't write the tax code, Congress does.

You and I don't set fiscal policy, Congress does.

You and I don't control monetary policy, the Federal Reserve Bank does.

Originally posted by cpdaman
yes they are much worse....

the administration and fed has made it a point to keep the stock market above 10,000 in order to facilitate the public's perspective that there is a economic recovery......

withouth external artificial support the market would be much much lower....without the fed's buying of mortgage toxic waste and treasury debt intrest rates would be higher.....the life support has given the financial system the appearance of a recovery....while lending to mainstreet has continued to slow.

while others are concerned with the dollar ....i think the euro is in bigger trouble right now

Did you see the market miracle today!?
It was falling like a rock over 150 points.
Then in the last hour the PPT earned their pay.
Buying the market back to the magical 10,000

Just in time for the evening news.
"And the market closed higher today."

Has it always been this obvious?