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The US has entered its first economic recession in 16 years

Discussion in 'Political Discussion' started by weswelker#83, Jan 8, 2008.

  1. weswelker#83

    weswelker#83 Rookie

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    The US has entered its first full-blown economic recession in 16 years, according to investment bank Merrill Lynch.

    http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/01/07/bcnuseco107.xml



    http://www.washingtonpost.com/wp-dyn/content/article/2008/01/07/AR2008010702941.html


    [​IMG]
    The Economy: When Bush started gasoline was $1.25 a gallon -now it's at $3.24 a gallon. For the oil companies who backed Bush into the office this is Mission Accomplished!
    http://en.wikipedia.org/wiki/Energy_task_force









    My business is usually slow at this time of the year ,if it doesn't pick up by early FEB. , i am doomed .:D
    Last edited: Jan 8, 2008
  2. BelichickFan

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    #24 Jersey

    We may have done and we may not have done. If we haven't, we may and we may not. But don't state facts as subjects for things that are an opinion and not facts.

    If we have, it's overdue and is expected to be a shallow one.

    Regarding oil, it has little to do with Bush but with massive growth in developing nations plus the weakness in the dollar which, largely, also has little to do with Bush.
  3. WallyPip

    WallyPip Rookie

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    This will be good for Romney yes yes yes!
  4. weswelker#83

    weswelker#83 Rookie

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    The Energy Task Force is commonly known as the Cheney Energy Task Force .
  5. BelichickFan

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    #24 Jersey

    The buck stops with him doesn't mean he can affect everything. I'll grant you that he bears a small amount of responsibility as the rising deficit is PART (only part) of the weakness of the dollar which is PART (only part) of the price of gas and other commodities. Other than that, tell China, India, etc, to stop developing and using more of our rightful oil ;)
  6. jack

    jack Rookie

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    No stock tips this time:confused:
  7. QuiGon

    QuiGon Banned

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    Last edited: Jan 8, 2008
  8. BelichickFan

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    #24 Jersey

    If oil companies are making money, become a part of them. Duh.
  9. weswelker#83

    weswelker#83 Rookie

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    The US economy has been steadily expanding .Only for the richest people, it has. Everyone else has been in a recession since 2001, whether any economist has called it that or not.
    Whatever Bush says can be read like this: "I hope that whatever the hell I did does not crash the economy before I leave office so whomever comes after me can take full blame, heh heh heh."



    :bricks:
  10. IcyPatriot

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    #87 Jersey

    My business has been in recession since 9/11/2001 ... nothing new for me.

    This news may actually help Romney .... time will tell Wally Pip.

    It could actually help Hillary also.
    Last edited: Jan 8, 2008
  11. Real World

    Real World Moderator Staff Member

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    I'm not sure how 16 years is factored in? What about 2000? I guess that doesn't count for some reason. At any rate, things are going to get a little worse before they get better. It'll be interesting to see if the most recent labor report is a trend, or an aberation. So long as jobs stay strong, we should be ok. I will say that the report was a little troubling because of it's timing. With an election on the horizon, it could make for a tough year. Remember, people hold their money when presidents are about to be elected.
  12. weswelker#83

    weswelker#83 Rookie

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    "Bush Says He's Watching Economy Closely." Everyone can now rest easy. ;)
  13. BelichickFan

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    #24 Jersey

    Well no-one can stop you from saying it. But there's no reason to say it. It's just not true. For some people, businesses, areas, sectors it might be true but to say "everyone except the rich" is just silly. Employment, wages and net worth numbers simply dispel these silly statements.
  14. QuiGon

    QuiGon Banned

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    Which is the same strategy Clinton employed... "I hope the internet bubble doesn't burst and all those corporate scandals I have completely ignored don't blow up until after I leave office so my successor will take the blame"...
  15. weswelker#83

    weswelker#83 Rookie

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    Quality economy.
  16. BelichickFan

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    #24 Jersey

    Like I said, you're just being silly. Until the second half of 2007 there were few non quality indicators for the economy as a whole.
  17. patsfan13

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    I guess they forgot the recession that occured at the end of 2000 and beginning of 2001. Ws that 16 years ago???? Remember the NAsdaq went from 5000+ in 3/2000 to less than 2000.


    As to the comment on the price of oil. This is rich coming from think progress, since the left is proud of halting oil drilling and coal development in the US and has successfully blocked the construction of any refineries in the US in the last 35 years. Guess the oil lobby hasn't been too successful there.
  18. weswelker#83

    weswelker#83 Rookie

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    It was not all President Bush's fault but he is going to own a pile of the fault .

    Greed and ignorance will do it every time (credit/Banks/Hedgefunds)
    This president was here at the wrong time and made a bad situation incredibly worse.(iraq fiasco pumping a lot of $)
    Last edited: Jan 8, 2008
  19. jack

    jack Rookie

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    #18 12-06-2007, 03:44 PM
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    Re: Recession on the horizon?

    --------------------------------------------------------------------------------

    Quote:
    Originally Posted by jack
    Any solutions to spur the economy?



    We've had a pretty good boom and now we're in a slower period which should avoid recession. Ridiculous interest rates, great unemployment, wages up a good amount. For a slowing period, things are great. Inflation is low even with gas prices; although gas and food prices make inflation merely low vs. almost non existent. The weak dollar helps manufacturing.

    . But for a slowing period there's nothing to do to spur the economy other than leave it alone and don't f*ck it up.
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  20. BelichickFan

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    #24 Jersey

    No idea what your point was. We weren't likely to have a recession then. We're more likely to now, although if we do it's not likely to be a deep one.

    Your point ?

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