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Do you really think the economy has bottomed out?
Posted by umikun • 3/24/09 • Subscribe to this Discussion [RSS] • Report This Topic
Topics: Economy, recession
With the rally in Stock markets these few days, do you think the economy is recovering?
User Comments
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No, and it won't until there's a strong wave of job creation in fields that pay enough for people to actually live on. -
No. Who do you think is going to pay for the trillions and trillions and trillions of dollars that we just spent? It isn't going to evaporate. It isn't going to go away. It will HAVE to be paid...
Meanwhile, medicare and social security benefits dry up.... prices go up...interest rates go up....
I'm afraid you really haven't seen anything yet. Sorry to burst your bubble, but the math doesn't support this truly being the bottom. -
no i dont think so too ..and the reason dannyvice has given i totally agree with it ..
and for thos ppl who think humans are stupid ..check this cool inventions out just to kill time!:)
amazing-inventionss.blogspot.com/ -
Isn't there alot of positive comments by Ben Bernanke?
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In japan, the word 'bernanke' means fetish porn, where fat old men roll around in piles of cash -
lol
"Bernanke’s prescription of a “money drop”—which in a homage to economist Milton Friedman, who conceived of the concept, Bernanke laid out in a famous speech some time back—earned him the nickname of “Helicopter Ben.”
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"people tend to specialize in what they are worst at. Henry George, for example, is great on everything but land, so therefore he writes about land 90% of the time. Friedman is great except on money, so he concentrates on money."--Murray Rothbard
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Yes, have a look over at goodnewseconomist.com
There are lists and lists of positive signs.
Job growth is not a leading indicator... consumer sentiment and spending is now continuing to trend up. It will be consumer spending that drives the turn around... -
Do you really think the economy has bottomed out?
In a word "non". Consider, the total US debt is 3.5 times the GDP! Until this debt is reduced, there is NO recovery in site. The second wave of mortgage defaults will peak in 2010 and the third in 2012 when the peak of 5yr and 7 year AMRs reverts to the prevailing interest level. Is anyone imagining that the interest level in 2010 will be lower than now? No? Yet, better than 50% of AM-morgtage holders that are currently defaulting cannot pay the current interest rates. Add in an almost inevitable Cap-and-Trade scheme (which failed in Europe, bigtime) and the race to raise fees of all sorts from city to state level, and you really don’t have a lot of disposable cash on the part of consumers to purchase. Look for large numbers of small business failures, retail merchants, small banks, small cities, and on and on. The bottom has not been reached, merely a local plateau.-
In this case, how would Obama able cut the national debts by 50% in 4 years time??
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If 10per cent inflation over 10 years would cut the debt load in half, over 4 years inflation would have to be closer to 20 per cent.
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harveyavatar, that sounds very true!
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I proposed a functional budget as another thread.
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I am afraid not -
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