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#1
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I'm going to say it. It's Depression not Recession
I don't think we are in a Recession any more. I think we are in, or are about to fall into, a Depression. Yes, I know there are no soup lines for doctors and lawyers yet, but I think that kind of desperation is on the way.
- Peter.
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2021 Chevrolet Spark Formerly... 2000 GMC Sonoma 1981 240D 4spd stick. 347000 miles. Deceased Feb 14 2021 2002 Kia Rio. Worst crap on four wheels 1981 240D 4spd stick. 389000 miles. 1984 123 200 1979 116 280S 1972 Cadillac Sedan DeVille 1971 108 280S |
#2
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We already have people up here complaining that their unemployment insurance benefits are running out, and they last about 40 weeks.
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Jason Priest 1999 E430 1995 E420 - retired 1986 420SEL - retired |
#3
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What's all this talk about depression? Sure we all get the blues or down in the dumps from time to time, but that's not something you need prozac for, for gosh sakes. Take a walk around the block, go visit some friends or family, see a good comedy movie, I hear that "Mall Cop" is a hoot . . .
what? It's a severe economic economic downturn characterized by decreased business activity, high unemployment, and falling prices? Oh, that's very different. Never mind. |
#4
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EMERGENCY! Break out the spliffs!
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#5
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I am going to go out on a limb here. I predict that the 4th quarter of 2008 will be the worst performance in terms of GDP. The economy will show improvement from here, for the next several years at least. The stock market will go sideways or rise.
The US still has a problem with dependance on foreign oil and in the next decade or so that will be the next big problem to deal with. Sounds like Obama has a good hold on that. Now is the time to buy real estate. I am not a genius, but I did call the top of oil last summer in this thread. Oil drops for 2 days in a row |
#6
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Wow, fortune-telling and foreseeing a worsening economy. Perhaps you should go on CNN? They love "life sucks" and "we're all going to die" talk. Saying it doesn't change anything, except you now have a fifty-fifty shot at being right and be able to tell other people about how smart you are (if you were right; if you were wrong, we probably won't read your apology, will we?).
Wow, a depression, huh? A little early for that call, isn't it? The credit crunch has been going for a whole four months now. I never understood dramatic negativism - it must suck to go through life like that.
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- Brian 1989 500SEL Euro 1966 250SE Cabriolet 1958 BMW Isetta 600 |
#7
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Quote:
x2...............
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Matt (SD,CA) 1984 300SD.. White/Chrome Bunts..Green 1997 2500 Dodge Ram 5.9 Cummins 12 Valve 36 PSI of Boost = 400+hp & 800+tQ .. ..Greenspeed 2004 Dodge Ram 2500 4x4 Quad Cab Cummins 5.9 H.O "596hp/1225tq" 6 spd. Man. Leather Heated seats/Loaded..Flame Red....GREENSPEED Global warming...Doing my part, Smokin da hippies.. Fight the good fight!...... |
#8
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I'm not ready to call depression until we see how 2009 plays out.
Right now I'm hoping for the best. Because I rather be working than standing in some damn soup line.
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1999 SL500 1969 280SE 2023 Ram 1500 2007 Tiara 3200 |
#9
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What exactly is there then that will generate the growth necessary to pull the US back up? I don't see anything and absent that how is it going to happen? Quote:
- Peter.
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2021 Chevrolet Spark Formerly... 2000 GMC Sonoma 1981 240D 4spd stick. 347000 miles. Deceased Feb 14 2021 2002 Kia Rio. Worst crap on four wheels 1981 240D 4spd stick. 389000 miles. 1984 123 200 1979 116 280S 1972 Cadillac Sedan DeVille 1971 108 280S |
#10
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Recession, depression. Whatever you call it, its a purging and cleansing process that shakes out the junk in the system. Its like vomit and diarrhea, not pleasant but sometimes necessary.
I have one friend who claims to have sold all his holdings when the Dow was hovering around 14000. Unfortunately he doesn't have a job now, so everyone gets hit one way or another.
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1985 380SE Blue/Blue - 230,000 miles 2012 Subaru Forester 5-speed 2005 Toyota Sienna 2004 Chrysler Sebring convertible 1999 Toyota Tacoma |
#11
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So now the Gov is trying to figure out how to compel more people to buy new cars. Makes sense, now that they are stake holders. Only it pushes more people into debt they don't need. I thought the bailout was a bad idea, but I may be wrong. The best bet is a WPA type program for rebuilding America's infrastructure, much of which is 50+ years old and needs replacement. There is plenty of steel and concrete and muscle available.
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1985 380SE Blue/Blue - 230,000 miles 2012 Subaru Forester 5-speed 2005 Toyota Sienna 2004 Chrysler Sebring convertible 1999 Toyota Tacoma |
#12
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I've had a good bit of anxiety in the back of my mind for years at our steady loss of manufacturing and the growing trade deficit. Such stuff will not continue indefinitely w/o some serious upheaval. And we're just invested billions of dollars of borrowed money on a really bad investment -- "just" as in for the last 6 or 7 years. OBL and crew have to be rejoicing at our predicament as they hoped to prove the historical adage: 'Afghanistan -- where empires go to die' at our expense, with Iraq being part of the death blow. BHO is talking about redoubling our effort in Afghanistan (the good war). 2002, 2003 was the time for that, not now.
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1986 300SDL, 362K 1984 300D, 138K |
#13
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Even silicon valley is saying we're in trouble if we don't improve our science education as Asia is prepared to eat our lunch in that category.
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1986 300SDL, 362K 1984 300D, 138K |
#14
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If you like to eat, plant a garden...
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When the power of love overcomes the love of power the world will know peace. Jimi Hendrix |
#15
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1980 300TD-China Blue/Blue MBTex-2nd Owner, 107K (Alt Blau) OBK #15 '06 Chevy Tahoe Z71 (for the wife & 4 kids, current mule) '03 Honda Odyssey (son #1's ride, reluctantly) '99 GMC Suburban (255K+ miles, semi-retired mule) 21' SeaRay Seville (summer escape pod) |
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