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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 Rookie

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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.
    __________________
    Don't Give Me a Defensive Player Who Can't Tackle . . . What Am I Going to Do With Him ? --- Bill Belichick

    I am going out to cast my vote.....:rolleyes:
  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 ?
  21. BelichickFan

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    #24 Jersey

    Not to mention they're on the side of the Global Warming alarmists - all this Global Warming sh!t will cost us money whether it's in the store or on the electric bill.
  22. jack

    jack Rookie

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    #20 12-06-2007, 04:09 PM
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    We should have had a recession sometime since this six year boom started.
    __________________
    Don't Give Me a Defensive Player Who Can't Tackle . . . What Am I Going to Do With Him ? --- Bill Belichick

    According to belichick fan thats impossible....just saying!
  23. PressCoverage

    PressCoverage Banned

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    what's funny is that you begin a post by demanding that the OP not state facts that are "opinion" ... and then, in your last sentence, you do exactly the same, yourself, regarding oil and the weakening of the U.S. dollar ...

    oil price is skyrocketing because the planet is running out of it, as attested to by leading geologists, economists, Big Oil executives, and the Dark Lord himself...
  24. Holy Diver

    Holy Diver Rookie

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    What recession, we are doing great!

    Sincerely,

    Halliburton stockholders
    winners of no-bid contracts
    Oil companies
    Perscription drug companies
    Lobbyists
  25. QuiGon

    QuiGon Banned

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    You're going to have to elaborate exactly what the point is you are trying to make because, as I understand it, Belichick Fan (and I don't mean to speak for him I am just saying how I interpret his words which you may or may not have posted out of context) is saying that we have had a 6 year boom which would have begun roughly around 2002. So that does nothing to contradict the notion that there was a recession around 2000-2002.
    Last edited: Jan 8, 2008
  26. PressCoverage

    PressCoverage Banned

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    have you bloviated about topics you know little about your entire life, or just since you joined blogging forums?... ANWR has enough oil to sustain us for 1.5 years... massive coal "development" would destroy the environment like no other source... read a bit more, and turn your attention to other sources of energy...

    coal... :rolleyes:

    why are republicans constantly trying to turn back the clock instead of moving forward?
  27. jack

    jack Rookie

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    Why did you say that from 2000 to 2003 we had a full blown recession?

    And he's saying we were in an economic boon in 2002!

    Who is correct with thier statement?
  28. BelichickFan

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    #24 Jersey

    There is a difference between an opinion in a post and an opinion, stated as fact, as a subject.
  29. BelichickFan

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    #24 Jersey

    Christ, maybe it's 5 years then. We've had a great run for a sustained time.
  30. QuiGon

    QuiGon Banned

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    Jack, you're really reaching here... I didn't do a full research paper to make a simple post in this thread. I am working from memory and I will gladly admit my dates may be off by 6 months or so, give or take. If I say the recession ended roughly around 2003 and he says the boon began around 2002, it isn't exactly a discrepancy of egregious proportions, now is it...?

    My whole point is that we suffered a recession at roughly that period of time, and it is erroneous to say that we haven't had one in 16 years.

    Are you really so desperate that you are now taking ridiculously minute inconsistencies (from 2 separate posters) and thinking you've just established a Perry Mason "A-HA!!" type of moment...? Apparently the answer is yes, you are really that desperate.
    Last edited: Jan 8, 2008

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