"Great Recession" In U.S. Comming to a close?
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Printed Date: 19 Apr 2024 at 9:39am
Topic: "Great Recession" In U.S. Comming to a close?
Posted By: johnsmithfsx
Subject: "Great Recession" In U.S. Comming to a close?
Date Posted: 10 May 2009 at 4:52am
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http://www.washingtonpost.com/wp-dyn/content/article/2009/05/07/AR2009050701379.html?hpid=topnews - http://www.washingtonpost.com/wp-dyn/content/article/2009/05/07/AR2009050701379.html?hpid=topnews Nice to find some good news after a while... ------------- 
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Replies:
Posted By: ConcordeGuy
Date Posted: 10 May 2009 at 11:46am
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Hopefully the same thing will happen here-ish!
------------- Rides a 1999 Kawasaki ZZR600 |
Posted By: johnsmithfsx
Date Posted: 10 May 2009 at 5:32pm
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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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Posted By: BradS
Date Posted: 13 May 2009 at 3:40pm
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.... ------------- -------------------------------- Brad http://www.justflight.com"> 
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johnsmithfsx wrote:Posted By: johnsmithfsx
Date Posted: 13 May 2009 at 9:57pm
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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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Posted By: VulcanB2
Date Posted: 13 May 2009 at 10:09pm
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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. |
Posted By: Magic Man
Date Posted: 13 May 2009 at 11:18pm
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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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Posted By: johnsmithfsx
Date Posted: 13 May 2009 at 11:32pm
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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 - http://www.bloomberg.com/apps/news?pid=20601087&sid=a1ZtwKIe2.18&refer=home -------------
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Posted By: MartinW
Date Posted: 14 May 2009 at 10:05am
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. |