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Recession Confirmed

Discussion in 'Political Discussion' started by PatriotsReign, Sep 15, 2008.

  1. PatriotsReign

    PatriotsReign Rookie

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    The House plans to vote on a new economic stimulus act...the second in 8 months. This one is marked for $50billion...blah, blah, blah:rolleyes: Some may think "good" but it only confirms that we are indeed in a recession.

    U.S. House plans vote on $50 bln to stimulate economy

    WASHINGTON—The House plans to debate legislation this month to inject another $50 billion of stimulus into the faltering U.S. economy, mostly with the goal of creating new jobs, a senior House Democratic aide said Monday.

    Amid fears of wider economic damage from turmoil on Wall Street, the roughly $50 billion would aim to spark needed road, bridge and other construction projects that help create jobs, with details still being worked out, the aide said.

    The money also would be used to help low-income families pay winter heating bills and to extend unemployment benefits.


    U.S. House plans vote on $50 bln to stimulate economy - Boston.com
  2. STFarmy

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    Throwing money we don't have at problems that can't be fixed that way; it's the new American way!
  3. Michael

    Michael Moderator Staff Member PatsFans.com Supporter

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    Naa, it's the old American way.
  4. PatriotsReign

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    One thing is for certain, no matter how much money is spent to "fix" the economy, it won't work. The ONLY road to a healthy economy is let it take it's course through the natural laws of free-market economics.
  5. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey
    The financial mess isn't due to a recession - however it may cause one. A recession has not been confirmed, nor is the current mess in the stock market proof of such. Might a recession result due to this ? Yes. But it hasn't been confirmed by any stretch of your imagination.
  6. MrSparkle

    MrSparkle Rookie

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    I agree. While I don't know much I do know that if they keep propping up the economy falsely it will just take that much longer to heal.
  7. PatriotsReign

    PatriotsReign Rookie

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    BC...I'm not going by my imagination. I'm just saying what world renowned economists have been saying for months...we ARE in a recession. As you know, it typically takes about a year for recessions to be "officially" declared.

    But if you do a search on ecnomists opinions, the VAST majority say we are already in one. One of the most respected economists in the country, Nouriel Roubini predicted our current "recession". He is being lauded every where now and is one of the most highly sought after speakers on economic trends in the world.

    Read about him here in this August interview with Barrons;

    Expert Interview: Barron's and Roubini
    Last edited: Sep 16, 2008
  8. BelichickFan

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    You may be right. But quit saying "confirmed" when it hasn't been confirmed. In fact it's not close to being confirmed as U.S. growth continues and a receding economy (hence the name recession) is required.
  9. Real World

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    Someone tell PR what the definition of confirmed is. :rolleyes:
  10. PatriotsReign

    PatriotsReign Rookie

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    My point FELLAS...is that our government has spent more money trying to fix our economy than was spent trying to correct the Great Depression or any other recession in history. To consider this a pesky little "correction" is fool hardy at best.

    Just keep watching as the months pass by and things don't change economically speaking. When all is said and done, it will be declared that the recession of 2008-? began in January 2008.

    Hey, here's an idea....call someone who works on Wall Street and ask them if we're in a recession!

    Wall Street Firm; "I'm sorry sir, but Mr so&so no longer works here":D
    Last edited: Sep 16, 2008
  11. Run DMC

    Run DMC Rookie

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    Just think, these D-bags in DC are trying to hold this mess together to get McSame elected. Wait until the election is over until the whole sh*thouse really goes up in flames. What we are witnessing is nothing less than the transition of America the superpower into the banana republic that it really is.
    We're bankrupt in every sense of the word.
  12. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    That doesn't count either because a recession is a national thing not a local thing. No-one is arguing that we could end up in a recession but to say it's been confirmed is disingenuous at best and flat stupid at worst.
  13. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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  14. PatriotsReign

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    Ok....being subtle huh BF?;)

    I'll put it another way...

    Call a restaurant owner
    a retailer
    an auto manufacturer
    an auto dealer
    a builder
    a real estate agent
    a banker
    an information systems manufacturer

    And ask them if we're in a recession. My point here BF is that COMMON SENSE would tell anyone we're in a recession. Again, I said ALL recessions are typically declared after they are over...just as this one will be.

    There is no denying all economic conditions right now point to exactly what Greenspan stated yesterday

    "We are in a once in a Century Economic Crisis" Not "kinda bad" conditions or almost recessionary.

    So I'm going to say once again we ARE in a recession. I know you don't agree and that's fine. We'll agree to disagree. But I know most economic experts agree with me.
  15. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    I never said I disagree. Quite honestly, I'm insulated from the good and the bad as I live in a small town so I don't see the highs of soaring real estate nor the lows of sinking real estate. Same for other economic indicators. I'm just saying that it's dumb to say something has been confirmed when it hasn't. In fact we have yet to see our first quarter of receding GDP.
  16. PatriotsReign

    PatriotsReign Rookie

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    Ok, I'll give you that I was misleading with my thread title. You're right, it's not factually accurate, but I'll also admit I did that on purpose to emphasize the fact that our government won't admit we're in recession yet they've spent hundreds of BILLIONS trying to fix it. I was just trying to show how they're talking out both sides of their mouths.

    P.S. The Cowboys & Eagles looked pretty strong last night, didn't they?
    Last edited: Sep 16, 2008
  17. Real World

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    So who, and what, in DC, wants to get McSame elected, and why?
  18. Real World

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    No offense, but you sound like a child. Call your barber....call your gardener...call your hooker...

    We had a better year this year with our construction company, than we did last year. So please tell me what that does to your "call your" theory.
  19. PATSNUTme

    PATSNUTme Paranoid Homer Moderator Staff Member PatsFans.com Supporter

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    So with all this economic gloom and doom, who still thinks it's a good idea to raise capital gains and corporate taxes?
  20. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    Question: Didn't the willy-nilly opening of the spigots of the money supply and giving out too much sugar CAUSE this diabetic cluster-fluck in the first place?

    How much deeper into the rabbit hole do some folks want to dig?
  21. PATSNUTme

    PATSNUTme Paranoid Homer Moderator Staff Member PatsFans.com Supporter

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    I need subtitiles, Shmess.:D
  22. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    :D LOL, sorry, I thought I was a Patriot OL and went crazy with the "Metaphors" there.

    But I think you get the the gist of my post.
  23. PatriotsReign

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    RW...In economic circles, it's common to suggest asking your local businesses how things are going to gauge the economy. I always ask when I go to a new restaurant and for the last 8 months 90% of restaurants tell me things aren't good.

    Call it childish if you like, that's your choice. but once again a year from now when it is declared we were in recession since Jan. 2008, you'll owe me!;)
  24. Real World

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    I won't owe you ****. You honestly sound like a child. You really do have a problem with reading comprehension. That's something I've confirmed. ;)
  25. Real World

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    No, actually we don't know the gist. Care to explain?
  26. PatriotsReign

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    lol...what it really comes down to is that we have 2 different opinions. In the long run, one of us will be right and one will be wrong. I have no issues with understanding you RW just as you have none understanding me.

    I say the BILLIONS the fed has spent to fix the economy confirms we're in a recession and you say it doesn't. but we won't know for a while. It was 2003 when the government declared we were in a recession in 2001/2002. That's because they'll adjust all the numbers and then decide.

    Everything will be looked at in REAL terms...particularly the GDP.(which will be adjusted)
    Last edited: Sep 16, 2008
  27. IcyPatriot

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    last 8 months ... :rofl: The economy hasn't been the same since 9/11/2001 ... as a small business owner I know this. Anybody who owns a business knows the economy has been down for a while. What we see and what Wall Street sees are 2 different things. What we see is cold hard cash as they say ... what they see is a bunch of numbers with little behind them. None of the news in recent weeks surprises me. the big guys are feeling the pain us little guys have been feeling for a while.

    Too many artificial means have been used to keep the economy afloat. Inflated home values ... people borrowing on thos inflated values has kept the economy going. We should have gone into a small recession after 9/11 and got it over with.

    America manufactures less and less all the time ... that's the only way to fix this economy. Start manufacturing in the United States and stop selling our jobs to foreign countries.

    One very good thing in the Obama platform is tax incentives for compsnies producing in the United States ... actually a very big and good thing that Barack wants to do.
  28. Holy Diver

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  29. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    Judging from your last two posts, who peed in YOUR Cap'n Crunch this morning?

    But if you need an explanation, the Federal Gov't finally is changing its tune from bailing out the incompetently greedy blue chip lenders and today actually upset the children at 2:15 by finally "just saying no". They are also signalling that they will say "no" to the Big Three Dinosaur automakers next week when they beg for their $50 billion. The Gov't panicked in March because it didn't have a handle on the breadth of the crisis so they bailed out Bear Stearns and last month the specter of FNMA and FHLMC going under was too severe to countenance. All the Fed interest rate easing, lowering of taxes and $1,200 checks hasn't turned the trick - - it has only deepened the long-term problems.

    The adults have finally stopped giving candy to the diabetic and bloated children. Today is a good day for our nation's economy in the long run. Let the incompetent and short-term greedy fail - - propping them up with our money only hurts us.
    Last edited: Sep 16, 2008
  30. PatriotsReign

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    Nice post FBN! I agree with a lot of what you said. I don't know what business you're in, so I can't comment on that. But there were many in the building industry who believed what was happening (inflated values, etc) was going to continue and that it was a new reality for real estate.

    But you seem like most of us who somehow knew it couldn't continue and although prosperity seemed to abound, there was a dark cloud hanging over us. At least that is how I felt.

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