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"Great Recession" In U.S. Comming to a close?

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johnsmithfsx View Drop Down
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    Posted: 10 May 2009 at 4:52am
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ConcordeGuy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ConcordeGuy Quote  Post ReplyReply Direct Link To This Post Posted: 10 May 2009 at 11:46am
Hopefully the same thing will happen here-ish!
Rides a 1999 Kawasaki ZZR600
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johnsmithfsx View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote johnsmithfsx Quote  Post ReplyReply Direct Link To This Post Posted: 10 May 2009 at 5:32pm
I hope so too. Although, even if this is a sign that the end of the recession is comming, it will take a while to fully recover.
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BradS View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote BradS Quote  Post ReplyReply Direct Link To This Post Posted: 13 May 2009 at 3:40pm
Originally posted by johnsmithfsx johnsmithfsx wrote:

http://www.washingtonpost.com/wp-dyn/content/article/2009/05/07/AR2009050701379.html?hpid=topnews

Nice to find some good news after a while...

If only that were true....most of the stats I'm hearing contradict quite a bit of the "We're getting better now..." babble that seems to be seeping out into the media.  Yesterday a report was released indicating that the US unemployment for next year is expected to be higher than this year by a couple of points....

Statements like the WP are often aimed at the stock/bond/trading markets, in order to keep them bouyant....
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johnsmithfsx View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote johnsmithfsx Quote  Post ReplyReply Direct Link To This Post Posted: 13 May 2009 at 9:57pm
Right. They said that unemployment will likely still be an issue. Although, financially (in terms of inflation and value of the U.S. Dollar), things are expected to to get a little better
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Post Options Post Options   Thanks (0) Thanks(0)   Quote VulcanB2 Quote  Post ReplyReply Direct Link To This Post Posted: 13 May 2009 at 10:09pm
Global cause, local problem.

For all the talk of a "global" economic downturn, the problems are very much local to each country.

We are in a very bad state at present. We aren't going to recover as quick as the US.

Best regards,
Vulcan.
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Magic Man View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Magic Man Quote  Post ReplyReply Direct Link To This Post Posted: 13 May 2009 at 11:18pm
Was there actually a real recession at all...?
 
Yes, stock prices fell through the floor because everyone panicked, stock sales were allowed to stay open so even more virtual money was wiped away resulting in the big banks and companies loosing vast reserves.
 
The media then went into a frenzy telling us all that we are in a recession resulting in people cutting back on buying luxury items causing those manufacturers to fail and start cutting jobs.
 
Speaking personally, we've noticed no difference apart from a reduced interest on any savings. Prices haven't shot up (except where those are linked to exchange rates). My job is secure so we haven't cut back on things we would have bought anyway. Those with mortgages would have seen a good reduction in their rates.
 
 
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johnsmithfsx View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote johnsmithfsx Quote  Post ReplyReply Direct Link To This Post Posted: 13 May 2009 at 11:32pm
The reason for the title being "Great Recession" (note the quotation marks) was because a lot of people do seem to consider the economic downturn to be a recession.

As to the UK's current economic situation: Sadly, that is true Vulcan.
http://www.bloomberg.com/apps/news?pid=20601087&sid=a1ZtwKIe2.18&refer=home
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MartinW View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote MartinW Quote  Post ReplyReply Direct Link To This Post Posted: 14 May 2009 at 10:05am
Originally posted by Magic Man Magic Man wrote:

Was there actually a real recession at all...?
 
Yes, stock prices fell through the floor because everyone panicked, stock sales were allowed to stay open so even more virtual money was wiped away resulting in the big banks and companies loosing vast reserves.
 
The media then went into a frenzy telling us all that we are in a recession resulting in people cutting back on buying luxury items causing those manufacturers to fail and start cutting jobs.
 
Speaking personally, we've noticed no difference apart from a reduced interest on any savings. Prices haven't shot up (except where those are linked to exchange rates). My job is secure so we haven't cut back on things we would have bought anyway. Those with mortgages would have seen a good reduction in their rates.
 
 

Exactly, even in my dire financial situation I have noticed zero effect from the recession. On the contrary, with the mortgage rate low I'm better off.

 

My daughter said the same thing to me yesterday; she was discussing this with her friends at school.

 

Agree with you entirely magic. For the average person it's a nonevent.

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