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The Recession in all its glory - part XII

Old 10-06-10, 01:20 PM
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The Recession in all its glory - part XII

Wow, a 12th thread. You'd think the forum would have solved this problem by now.

Previous thread (part 11): HERE
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Old 10-06-10, 01:23 PM
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Re: The Recession in all its glory - part XII

Wait- I heard the recession ended last year.
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Old 10-06-10, 01:38 PM
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Re: The Recession in all its glory - part XII

Originally Posted by Thor Simpson View Post
Wait- I heard the recession ended last year.
It will never end until that communist is out of office.
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Old 10-06-10, 01:53 PM
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Re: The Recession in all its glory - part XII

Originally Posted by VinVega View Post
It will never end until that communist is out of office.
Who, Ben Bernanke?
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Old 10-06-10, 02:52 PM
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Re: The Recession in all its glory - part XII

Olympia Snowe
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Old 10-06-10, 03:53 PM
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Re: The Recession in all its glory - part XII

I'd say the latter's held true so far, but not the former. Look at agriculture. Clearly 70% of the population isn't working in ancillary jobs that were created by the advances that eliminated the need to have so great a portion of the population employed in it. Sure, creating automation creates some jobs, but not as many as it eliminates. In terms of design, repair, building, etc., lots of it's being done by the same companies that made the previous equipment and their own productivity gains have allowed them to do it without adding a lot of jobs. At least that's been my observation while spending most of the past decade working with manufacturing companies.

But yeah, overall, new jobs have arisen, even if most of them have not been directly related to what people used to do. I just think there's an inevitable ceiling where that will no longer be the case.
David Ricardo also had many of the same sentiments about capitalism, and why it wasn't sustainable.
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Old 10-06-10, 04:19 PM
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Re: The Recession in all its glory - part XII

Originally Posted by wendersfan View Post
Who, Ben Bernanke?
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Old 10-06-10, 05:54 PM
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Re: The Recession in all its glory - part XII

Originally Posted by wendersfan View Post
Who, Ben Bernanke?

<img width = 600 src = "http://www.creditwritedowns.com/wp-content/uploads/2009/09/recession-is-over.jpg"></img>

Last edited by wendersfan; 11-03-10 at 03:54 PM. Reason: Reduced image size
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Old 10-06-10, 05:55 PM
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Re: The Recession in all its glory - part XII

Oops, that image is a tad bigger than I expected.
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Old 10-07-10, 04:57 PM
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Re: The Recession in all its glory - part XII

<object width="560" height="340"><param name="movie" value="http://www.youtube.com/v/K7QwRIxis7w?fs=1&amp;hl=en_US"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/K7QwRIxis7w?fs=1&amp;hl=en_US" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="560" height="340"></embed></object>
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Old 10-08-10, 10:42 PM
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Re: The Recession in all its glory - part XII

The Dow broke 11,000 today.
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Old 10-08-10, 11:02 PM
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Re: The Recession in all its glory - part XII

Originally Posted by VinVega View Post
The Dow broke 11,000 today.
What's that measured in?
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Old 10-08-10, 11:46 PM
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Re: The Recession in all its glory - part XII

I posted this in the last thread (post 420), I think it should be repeated:
[Myth]4 "Investing in the stock market lets you participate in the growth of the economy."
....
In 1969, the U.S. gross domestic product was about $1 trillion, and the Dow Jones Industrial Average was at about 1000. Thirteen years later, the U.S. economy had grown to $3.3 trillion. The Dow? About 1000.
http://online.wsj.com/article/SB1280...p_mostpop_read
Yeah, economy still sucks, but now there's talk that Fed's policy should be to encourage inflation for the short-term and increase the key rate.
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Old 10-08-10, 11:58 PM
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Re: The Recession in all its glory - part XII

Originally Posted by Ranger View Post
I posted this in the last thread (post 420), I think it should be repeated:
1969 + 13 = 1982. Ok... things were just great then, right?
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Old 10-09-10, 02:22 AM
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Re: The Recession in all its glory - part XII

You can't really compare the DJIA of the '60s with today. For one thing, back then it was still an industrial average. Now it's just a collection of really big companies, some of which have some connection to industry.
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Old 11-01-10, 07:20 PM
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Re: The Recession in all its glory - part XII

Obama has found a way to help people in these hard times.

Struggling woman has to sell Obama letter to help pay for house

A struggling mom who wrote to President Obama about her financial hardship and received a handwritten response from him saying, "Things will get better!," has had to sell the letter to an autograph dealer to help pay for a house.

Jennifer Cline, 28, from Monroe, Mich., wrote to Obama describing how she and her husband had lost their jobs in 2007. She wrote, "I lost my job, my health benefits and my self-worth in a matter of five days."

Then she was diagnosed with two types of skin cancer, and she had no health insurance. She signed up for Medicaid, and treatment was successful. She went back to college after her unemployment benefit was extended. She added, "In just a couple of years we will be in a great spot."

Obama was shown the letter by an aide on Jan. 8. He wrote back on a White House-headed card he signed: "Thanks for the very kind and inspiring letter. I know times are tough, but knowing there are folks out there like you and your husband gives me confidence that things will keep getting better!"

But things didn't immediately improve for Cline, who's now agreed to sell the letter to autograph dealer Gary Zimet for $7,000. He tells us, "The letter is a historical document, and it is very hard for her to part with it. It's very timely considering the elections. But I don't think she's disillusioned with Obama -- this is just about surviving and practicality. She is selling it to pay for a house, which I think is poetic justice."

http://www.nypost.com/p/pagesix/jenn...oU9kVZ6XQIpyNJ
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Old 11-02-10, 09:21 AM
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Re: The Recession in all its glory - part XII

Originally Posted by TheBigDave View Post
Obama has found a way to help people in these hard times.
I wonder if this lady still isn't worried about paying her mortgage.

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Old 11-02-10, 10:39 AM
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Re: The Recession in all its glory - part XII

Originally Posted by Superboy View Post
Struggling woman has to sell Obama letter to help pay for house
Already posted two posts up.
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Old 11-02-10, 10:49 AM
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Re: The Recession in all its glory - part XII

Can we count all the election spending as a stimulus?
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Old 11-02-10, 12:41 PM
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Re: The Recession in all its glory - part XII

Originally Posted by VinVega View Post
The Dow broke 11,000 today.
The Dow has $1 trillion to $2 trillion of quantitative easing priced into it, in anticipation of tomorrow's announcement.
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Old 11-02-10, 12:50 PM
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Re: The Recession in all its glory - part XII

Originally Posted by Jeremy517 View Post
The Dow has $1 trillion to $2 trillion of quantitative easing priced into it, in anticipation of tomorrow's announcement.
So what exactly does that mean as far as a number I can understand? 300 points? 400 points?
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Old 11-02-10, 12:59 PM
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Re: The Recession in all its glory - part XII

Uncle Ben is going to put 500 billion in tops, at least that is what people are talking about on the boards; regardless it is going to be interesting.
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Old 11-03-10, 01:11 PM
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Re: The Recession in all its glory - part XII

Is everyone excited? Today is FOMC day.

<img src="http://www.businessweek.com/the_thread/hotproperty/bernanke-helicopter.jpg">
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Old 11-03-10, 02:55 PM
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Re: The Recession in all its glory - part XII

The magic number for QE2 is $600 billion. The markets yawn.
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Old 11-03-10, 03:55 PM
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Re: The Recession in all its glory - part XII

Originally Posted by eXcentris View Post
Oops, that image is a tad bigger than I expected.
It's cool; I fixed it (a month later...)
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