Quote:
Originally Posted by azdave
Going into a recession?? Hell we are already there. No one has the balls to come out and say it. Foreclosures, job loss, earnings down, etc: the market has been acting as if we are at the start of a recession. Thanks to George and his boys we have pissed away a surplus, piled up a huge debt, started a war that has no end in sight but it seems to some Republicans that sending 1.4 billion to Mexico is a good idea because  No hope for those folks.
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What are you talking about? unemployment rates past 16 years:
1990 5.6
1991 6.8
1992 7.5
1993 6.9
1994 6.1
1995 5.6
1996 5.4
1997 4.9
1998 4.5
1999 4.2
2000 4.0
2001 4.7
2002 5.8
2003 6.0
2004 5.5
2005 5.1
2006 4.6
We have swells and are currently at about 4.4 unemployment rate.
source:
Bureau of Labor Statistics Home Page
Earnings down? Where? Depends on the industry you chose to single out but in general our dow and stocks are at some all times high. Are some industries hurting right now? Sure but that is ALWAYS the case. It is a rotating wheel of pain to different industries at different times. Hell even Ford is slowly turning things around.....
Foreclosures. Now if you are going to bring that term to a gun fight then at least look into the wads and wads of documentation about the current foreclosure rates. Most of it is currently due to people overextending their lines of credit in general, interest only mortgages, variable APR, and yes some due to job loss.
All of those except for job loss is that person's fault. Overextend yourself......well you shouldn't have bought that house or new car or had the kid ect. interest only loan or variable APR. Well you should have refinanced when the rates started to get to your limit and paid the refi costs. Couldn't afford them? Well then shame on you for not thinking ahead.
It continues to crack me up that you call others sheep. Kettle......Pot.....