Deeper and deeper into the greatest depression!

Discussion in 'Economy' started by Neubarth, Oct 20, 2009.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    The Economic numbers as reported on Yahoo in the past few weeks and days.

    RETAIL SALES
    SEP 2009 DOWN - 1.5 %

    DURABLE ORDERS
    AUG 2009 DOWN -2.4%

    FACTORY ORDERS
    AUG 2009 DOWN –0.8%

    NEW HOUSING STARTS (USED TO BE TWO MILLION A MONTH)
    SEP 2009 590K
    AUG 2009 598K

    BUILDING PERMITS (USED TO BE TWO MILLION A MONTH)
    SEP 09 573K
    AUG 09 579K

    INDUSTRIAL PRODUCTION
    DOWN 12% IN THE PAST 12 MONTHS.


    OMG! A collapsing economy with DEFLATION! That happened in the Great Depression. so I guess this is now THE GREATEST DEPRESSION!!!
     
  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    Foreclosures: 'Worst three months of all time'
    Despite signs of broader economic recovery, number of foreclosure filings hit a record high in the third quarter - a sign the plague is still spreading.


    By Les Christie, CNNMoney.com staff writer
    Last Updated: October 15, 2009: 7:34 AM ET


    Foreclosure Crisis


    The number of homes receiving foreclosure filings is skyrocketing across the country.




    NEW YORK (CNNMoney.com) -- Despite concerted government-led and lender-supported efforts to prevent foreclosures, the number of filings hit a record high in the third quarter, according to a report issued Thursday.

    "They were the worst three months of all time," said Rick Sharga, spokesman for RealtyTrac, an online marketer of foreclosed homes.

    During that time, 937,840 homes received a foreclosure letter -- whether a default notice, auction notice or bank repossession, the RealtyTrac report said. That means one in every 136 U.S. homes were in foreclosure, which is a 5% increase from the second quarter and a 23% jump over the third quarter of 2008.

    Nevada continued to be the worst-hit state with one filing for every 23 households. ....
     
  3. Neubarth
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    Neubarth At the Ballpark July 30th

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    The horrific foreclosure storm that we are presently in will further tank the economy. The houses when sold are frequently sold at auction and that further depresses house prices, and more people default as they see no sense in paying for a house that is worth ten and twenty percent than the loan. They stop paying and the cycle repeats itself.

    Meanwhile commercial property foreclosures are rapidly increasing. thousands of businesses are failing every month and they are not paying their rent for their place of business.

    We will see hundreds of banking failures because of the commercial collapse.
     
  4. The Rabbi
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    The Rabbi Diamond Member

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    Texas Instruments rises on upbeat results - MarketWatch
    I wont say you're wrong. There's still a lot of negatives out there. But it sure doesn't look like last September.
     
  5. Paulie
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    Paulie Platinum Member

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    Oh man, that's gotta just about take the cake as one of the most brilliant analyses I've seen in this forum yet.

    "It sure doesn't look like last September". :rolleyes:

    Thanks for being here, my man. If nothing else, you're providing me with comic relief.
     
  6. Dante
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    Dante On leave Supporting Member

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    what great depression? gawd, some people not only can't see the forest for the trees...they can't see at all when it comes to reality.
     
  7. Paulie
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    Paulie Platinum Member

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    Who the hell are you?
     
  8. Zander
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    Zander Platinum Member

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    The US Stock market has formed a perfect top over the last several weeks, and has hit resistance 6 times at just over 10,000 on the DOW. We have had 4 weeks of "optimistic news" yet the S&P has only gained 59 pts. (from 1039 to 1096). After a 64% increase since March this bear market rally is on its last legs. There is very little upside potential, but we could see some upward movement before the inevitable. Irrational markets can stay irrational for a long time! Once it starts, the downward correction we are headed for should be swift and brutal. I would not be surprised to see a 1000 point drop for the DOW in one day, followed by a steady decline toward the 6000 range.

    Take a nice breath and enjoy the false optimism in the air, it will be last time you experience it for the next few years. We are headed for the double dip..... Investor sentiment is at 90% bullish according to trade-futures.com

    Regarding the US Dollar: the US Dollar has formed a perfect bottom! It should rise quickly over the next 6 months as the world get rocked by wave 3 of the massive bear market and turns back to the Dollar as a safe haven. Current bull/bear sentiment on the dollar is 98% bearish , the lowest it has ever been. Naturally, if 98% of the experts are bearish I am bullish.
     
  9. Neubarth
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    Neubarth At the Ballpark July 30th

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    A most accurate assessment of everything that you wrote about. I commend you your knowledge of the market.
     
  10. Neubarth
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    Neubarth At the Ballpark July 30th

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    Paulie, DevNell is just a flamer. No harm. For some people that is how they make their selves known in life. You might say it is their second of glory in a turned down world.

    Now, if he wants to ask questions about the Depression, I am more than happy to talk to him.
     

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